DUBLIN, May 24, 2018 /PRNewswire/ --
The "Logistics Automation Market by Component (Warehouse & Storage Management, Transportation Management), Organization Size (Large Enterprises, SMEs), Vertical (Retail & E-commerce, Automotive, Manufacturing), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The logistics automation market is projected to grow from USD 46.22 Billion in 2018 to USD 80.64 Billion by 2023, at a CAGR of 11.8% during the forecast period.
The growth of the market can be attributed to the exponential growth of the e-commerce industry, advancements in robotics, and the emergence of IoT. The implementation of driverless vehicles and drones is playing a vital role in automating logistics processes and providing lucrative growth opportunities to vendors of logistics automation solutions.
With advancements in IoT technology, a huge amount of data is generated, collected, processed, and shared with other connected systems through various networking devices, such as gateway, Radio Frequency Identification (RFID), and sensors. There has been an increasing demand for connected technologies, connected applications, and smart devices from various industries worldwide. IoT plays a vital role to enhance connectivity and automation, thereby resulting in organizations utilizing IoT technology to enable warehouses to be more productive and cost-efficient. The implementation of IoT technology for logistics management has helped companies track material deliveries and monitor sensitive goods to avoid losses as well as mitigate risks involved in the transportation of goods.
The logistics automation market has been segmented on the basis of component, organization size, vertical, and region. Based on component, the market has been classified into warehouse & storage management and transportation management. Based on organization size, the market has been segmented into large enterprises and Small & Medium-sized Enterprises (SMEs). Based on vertical, the market has been categorized into retail & e-commerce, manufacturing, oil, gas & energy, pharmaceuticals & healthcare, logistics & transportation, automotive, aerospace & defense, food & beverage, chemicals, and others (BFSI, IT & telecommunication, hospitality, education, paper, printing, and textiles). Based on region, the market has been segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Based on component, the warehouse & storage management segment is estimated to lead the logistics automation market in 2018. The growth of the warehouse & storage management segment can be attributed to the implementation of smart technologies, such as IoT and robotics, in various industries to enhance warehouse operations.
Based on organization size, the small & medium-sized enterprises segment is expected to grow at a higher CAGR as compared to the large enterprises segment from 2018 to 2023. With advancements in automation technology and intense competition among vendors, the cost of automating warehouses is declining. This, in turn, enables SMEs to adopt automation solutions and services in the near future.
Based on vertical, the retail & e-commerce segment is projected to lead the logistics automation market from 2018 to 2023. The growth of the retail & e-commerce segment can be attributed to the increasing adoption of logistics automation solutions by retail and e-commerce companies. In addition, the demand for automated production and flexible logistics systems is a significant factor contributing to the growth of the market for the retail & e-commerce vertical.
North America is estimated to be the largest market for logistics automation in 2018. Companies in the North American region are adopting logistics automation solutions to improve supply chain operations, including manufacturing, assembling, and transporting goods. The US, Canada, and Mexico are key countries considered for market analytics in the North American region. Economic growth of these countries has led to increased investments in the field of logistics automation.
- Dematic Corporation (US)
- Daifuku Co., Ltd. (Japan)
- Murata Machinery, Ltd. (Japan)
- Honeywell Intelligrated, Inc. (US)
- KNAPP AG (Austria)
- Swisslog Holding AG (Switzerland)
- TGW Logistics Group GmbH (Austria)
- SSI Schaefer AG (Switzerland)
- Mecalux, S.A. (Spain)
- VITRONIC (Germany)
- BEUMER Group (Germany)
- Toshiba Logistics Corporation (Japan)
- Jungheinrich AG (Germany)
- WiseTech Global Limited (Australia)
- System Logistics Spa (Italy)
- Falcon Autotech (India)
- SI Systems, LLC (US)
- ULMA Handling Systems (Spain)
- Inspirage (US)
- FRAMOS (Germany)
- Matternet Inc. (US)
- Pcdata BV (Netherlands)
- Hinditron (India)
For more information about this report visit https://www.researchandmarkets.com/research/cj4fkp/global_logistics?w=5
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