Meticulous Research®, a leading global market research firm, has released its comprehensive report titled, ‘Global Logistics Automation Market by Offering (Hardware, Software, Services), Type (Inbound, Outbound), Automation Mode, Application (Inventory Management, Others), End User (Retail & E-commerce, Automotive, Others) & Geography - Global Forecast to 2031.’ This pivotal study underscores the anticipated growth trajectory of the logistics automation market, forecasting it to reach $65.14 billion by 2031, with a compound annual growth rate (CAGR) of 10% from 2024 to 2031.
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Market Insights and Drivers
The logistics automation market is poised for substantial expansion, largely fueled by the explosive growth of e-commerce and the increasing adoption of robotic technologies in logistics operations. Despite this robust growth outlook, the market faces challenges, including high capital investment requirements and a lack of sector standardization, which could impede its progress.
Key growth drivers include the digital transformation of the logistics sector, advancements in sensor technologies, and the rising trend of logistics outsourcing. Nonetheless, challenges such as a shortage of skilled operators and concerns regarding privacy and security remain significant hurdles.
Emerging Trends
The report highlights several notable trends shaping the logistics automation landscape. These include a heightened focus on enhancing last-mile delivery efficiency and the growing utilization of artificial intelligence (AI) in supply chain and logistics management.
Segment Analysis
• Offering: The market is segmented into hardware, software, and services. In 2024, the hardware segment is expected to dominate, driven by rapid e-commerce growth, shifting consumer behaviors, and increased investments in logistics facilities. Conversely, the software segment is projected to grow at the highest CAGR, due to advancements in logistics software and its seamless integration with other supply chain management systems.
• Type: The market is divided into inbound and outbound logistics. The inbound logistics segment is expected to hold the larger market share in 2024, attributed to comprehensive inbound logistics solutions and the adoption of advanced equipment. However, outbound logistics is forecasted to experience the highest CAGR, driven by innovations in packaging and order fulfillment automation.
• Automation Mode: Semi-automatic systems are anticipated to lead the market share in 2024 due to their productivity benefits and adaptability. Yet, fully automatic systems are expected to grow at the highest CAGR as enterprises increasingly seek to fully automate their operations for greater precision and efficiency.
• Application: The market is segmented into various applications including inventory management, packaging, and transportation management. Inventory management is projected to capture the largest market share in 2024, bolstered by the need for optimized inventory levels and the implementation of Automated Storage & Retrieval Systems (ASRS). This segment is also expected to grow at the highest CAGR, driven by increased use of RFID and barcodes.
• End User: Retail & e-commerce is anticipated to lead in market share in 2024 due to shifting customer expectations and the drive for enhanced omni-channel presence. The automotive sector is forecasted to witness the highest CAGR, propelled by advancements in intralogistics and digitalization efforts.
• Geography: Asia-Pacific is set to dominate the market share in 2024, owing to rapid urbanization, increasing delivery expectations, and widespread adoption of automation systems. This region is also projected to experience the highest CAGR, driven by competitive pressures and the need for efficient logistics operations.
Key Players
The report highlights leading players in the logistics automation sector, including Dematic (U.S.), Daifuku Co., Ltd. (Japan), Honeywell International Inc. (U.S.), Vanderlande Industries B.V. (Netherlands), KNAPP AG (Austria), SSI SCHAEFER Group (Germany), BEUMER Group GmbH & Co. KG (Germany), Konecranes Plc (Finland), FORTNA Inc. (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), TGW Logistics Group GmbH (Austria), Swisslog Holding AG (Switzerland), Slip Robotics (U.S.), and Locus Robotics (U.S.).
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