Logistics Automation Market Size Worth $91.7 Billion by 2027 at 11.5% CAGR Driven by Growing Adoption of Industrial 4.0 across Manufacturing Industry, Global Analysis by The Insight Partners

NEW YORK, July 20, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Logistics Automation Market Forecast to 2027 - Covid-19 Impact and Global Analysis by Component (Hardware, Software, and Services); Application (Warehouse Management and Transportation Management); Mode of Freight Transport (Air, Road, and Sea); End-User Industry (Retail and E-Commerce, Manufacturing, Oil and Gas, Food and Beverage, Automotive, Healthcare and Pharmaceutical, and Others), and Geography", the global logistics automation market size was valued $41.51 Billion in 2019 and is expected to reach $91.70 Billion by 2027; it is estimated to grow at a CAGR of 11.5% during 2020 - 2027.

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Logistics Automation Market Report Scope & Strategic Insights:

Logistics Automation Market: Competitive Landscape and Key Developments

A few of the major players operating in the global logistics automation market are Beumer Group, Daifuku Co., Ltd., Dematic (KION Group), Honeywell Intelligrated, KNAPP AG, Mecalux, S.A., Murata Machinery, Ltd., Swisslog Holding AG, TGW Logistics Group, and Vitronic. The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.

In 2019, BEUMER Group supplied a third sortation systems to Hermes that is capable of sorting up over a million parcels a day.

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In 2019, Honeywell announced the creation of Honeywell Robotics to help shape the warehouse and distribution center of the future, particularly for companies looking for automated solutions, software and robotics to deliver increased speed, accuracy and throughput in complex material handling environments.

As per WHO, as of July 2020, there are around 16,523,815 confirmed COVID-19 cases globally, including 655,112 deaths, and the number is growing at varying rates in different countries. The COVID-19 crisis is affecting the industries worldwide, and the global economy is anticipated to take the worst hit in the year 2020 and likely in 2021 also. The outbreak has created significant disruptions in primary industries such as logistics, retail, and e-commerce, among others. The sharp decline in the international logistics business industry is negatively impacting the growth of the global logistics automation market. The factory shutdowns travel bans, trade bans, and border lockdowns to combat and contain the outbreak have adversely affected the logistics industry.

Overall logistics automation market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the logistics automation market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultant such as valuation experts, research analysts and key opinion leaders specializing in the logistics automation market.

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APAC is the fastest-growing region in the logistics automation market. It has a growing economy, which is leading to growth in a wide variety of sectors, including retail and e-commerce, manufacturing, oil and gas, food and beverage, automotive, healthcare, and various others. The adoption of advanced and innovative technologies across the region is high. The deployment of logistics automation solutions has increased in Asian countries over the period owing to the investment and various initiatives taken by the government for the development of the retail and e-commerce industry. Asia is referred as the growth engine of the global economy with countries such as China, India, Japan, and Singapore. The presence of several manufacturing industries for automotive, food and beverages, healthcare, and retail industry has enhanced the acceptance of automation across these sectors.

Rapid digitalization, and developments in the economy, increasing education awareness, adequate government support, and rising incomes of the middle class are some of the attributing factors that have ensured a smooth transition of these economies from the developing stage towards a developed stage. The warehouses present in the region are implementing cutting-edge technology. Also, the growing number of products from suppliers is encouraging warehouse managements to adopt robotics and logistics automation software for systematic and feasible operations.

The emerging markets in Asian countries are facing challenges such as growing market competitiveness, cost pressures, inflation triggers, and market volatility. Thus, the planning and execution of the supply chain becomes complex. To address these issues, manufacturers and suppliers eagerly look ahead for logistics automation services to maximize the control of outbound and inbound supply chains by improving visibility and enhancing the inventory management process. Some of the players in the logistics automation market are Daifuku Co., Ltd., Murata Machinery, Ltd., and TGW Logistics Group, among others.

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China is one of the leading manufacturing sectors in the region, and the most affected country in APAC, several markets have witnessed negative growth trends in the past three months owing to COVID-19. India and other Asian countries are still combating the virus, and are exercising lockdown, which is a critical factor towards the slowdown in the growth of logistics automation market. Due to the pandemic, social distancing and staying home have pushed the consumers towards online retailing. The outbreak of COVID-19 had a negative impact on the logistics and transportation industries, owing to the uncertainty in the supply chain and consumer demand. The logistics supply chains are mainly strained by the pandemic and factory closures in China.

Impact of COVID-19 Pandemic on Logistics Automation Market:

The huge increase in the number of confirmed cases in the US and rising reported deaths in the country has affected the logistics industry. As per Geotab Inc.'s study, a significant drop has been witnessed in commercial transportation activity in the US and Canada, wherein the US, the impact is more significant. With a decline in commercial transportation activity, it negatively impacts the growth market in the region. The factory and business shutdowns across the US, Canada, and Mexico are also impacting the adoption of the logistics automation component. COVID-19 has had a severe impact on logistics operations, transportation, and trade activity. The impact of COVID-19 is short-term; it is likely to decrease in the coming years.

E-commerce is one of the mature industries in the US, according to the Census Bureau of the Department of Commerce, US retail e-commerce sales were US$ 160.3 billion for the first quarter of 2020, an increase of 2.4% from the fourth quarter of 2019. Thus, the growing e-commerce industries in APAC and North America are thriving in the business for logistics automation. Logistic automation is one of the substantial components of e-commerce for managing the issues of inventory, tracking, packing, warehousing, and shipping. In retail & e-commerce business is liable for safeguarding timely delivery and return policy if the goods or products have to be replaced, then the company has to handle all the operations in reverse logistics. In the retail & e-commerce business, logistic automation provider delivers upgraded technology, scalability & flexibility, and efficiency. Moreover, the logistics requirement and services provided by the logistic automation software firms to retail & e-commerce business are warehouse management, supply chain management, consolidated services, and order fulfillment. There are several benefits related to e-commerce which can be fulfilled if the company outsource their logistics requirements through logistic automation service provider. This allows the retail & e-commerce participants to perform their specific roles; accordingly, it is a reliable substitute for outsourcing the third-party organization in the retail & e-commerce ecosystem.

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Logistics automation firms are specialized in supply chain management, which also permits online stores to accentuate more on marketing and other business operations. The logistics automation software allows the warehouse managers to deal efficiently with various processes such as multiline item sorting, split case picking, and palletizing, among others. Therefore, the logistics automation software has an enormous opportunity in the retail & e-commerce sector globally.

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