This study intends to analyse diverse aspects of the global logistics automation market. The insights offered in this report are expected to aid in market growth examination over the forecast timeline.
Report Summary
Rapid e-Commerce Expansion Holds a Profound Impact on Adoption
Especially over the last decade, there has been a steady increase in the prominence of the e-Commerce sector. Greater penetration of the internet and a growing user base are major factors that have contributed to this outcome. Players in the e-Commerce sector are always looking for innovative approaches that will reduce delivery times and increase operational productivity, Moreover, the inclusion of same-day or –hour delivery timelines and better last mile delivery solutions have also contributed to a greater demand for improved logistics solutions. These are major factors expected to have a profound impact on the growth trajectory of the global logistics automation market in the coming years. Greater investments by leading e-Commerce vendors are also expected to lead to higher digitization of both inbound and outbound logistics operations. As more individuals begin to use these digital platforms more often, industry players in the market are slated to continue to generate higher revenues.
Widening Industry 4.0 Adoption Creates a Stream of Opportunities
There has been a steady increase in the transition of traditional warehouses to smart, connected, automated warehouses. This has been achieved by integrating industry 4.0 with warehouse and logistics robots. The outcome of the integration of warehouse automation is that the warehouse facilities would be more capable of adapting to significant changes in their business operations, thus leading to more efficient and coordinated warehouse systems operation. Moreover, industry 4.0 allows warehouse operators to perform time-critical and high-velocity operations at a low cost. As increasing technological advancements and greater affordability are achieved, with robotics solutions becoming faster, more accurate, and flexible, a surge in productivity and market growth opportunities is expected to further augment the global logistics automation market.
Lack of Standardization Poses a Challenge Facing Logistics Automation Market
A common obstacle in the logistics industry is the lack of uniform regulatory standards. For example, the standards implemented in North America, and Europe vastly differ from the logistics standards in China, and Korea. This can be attributed to a lack of governmental involvement as well as the absence of regional authorities or organizations that can effectively implement and unify multinational logistics standardization. This standardization would make it easier and more convenient for vendors to offer many solutions in one package. This is a major factor that is expected to adversely influence growth prospects for the global logistics automation market.
COVID-19 Impact
The onset of the COVID-19 pandemic resulted in the imposing of restrictions by respective governments on the movement of people and goods, as well as the hampered supply of necessary raw materials, among other operational hurdles. This led to a significant decline in generated revenues for many industries and this was no different for the global logistics automation market. However, as restrictions were gradually relaxed, post the 3rd and 4th waves, the market regressed to its pre-COVID-19 state of operations. Additionally, there was a notable increase in the use of e-commerce solutions due to this restriction in the movement of goods and individuals, subsequently leading to a greater demand for products and services offered by the market.
Asia Pacific Likely to Index the Highest CAGR
Owing to the increasing population figures of various countries in the Asia Pacific, as well as higher disposable incomes, and higher globalization levels, the logistics automation market here is expected to register the highest CAGR over the forecast period. Moreover, several organizations are now keener on investing higher sums to ensure the adoption of these logistics automation solutions. This is another major element that is slated to have a positive impact on the growth trajectory of this regional market.
Key Competitors
Major players in the logistics automation market include Beumer Group, Daifuku Co. Ltd., Dematic, Honeywell Intelligrated, Knapp AG, Murata Machinery Ltd., Swisslog Holding AG, TGW Logistics Group, Toshiba Infrastructure Systems & Solutions Corporation, and Vitronic Dr ING. Stein, to name a few. To gain a competitive edge, various established industry players are now more focused on new product launches, partnerships, collaborations, acquisitions, and alliances.
Recent Notable Developments
Regional Classification of Global Logistics Automation Market Can be Given as Below:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
*Regions and countries are subject to change based on data availability.
Key Elements Included In The Study: Global Logistics Automation Market:
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