Logistics Automation Global Market to Reach $94 Billion by 2026 with a 14% CAGR
DUBLIN, Dec. 1, 2022 /PRNewswire/ -- The "Logistics Automation Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global logistics automation market is expected to grow from $47.23 billion in 2021 to $55.69 billion in 2022 at a compound annual growth rate (CAGR) of 17.9%. The logistics automation market is expected to grow to $94.02 billion in 2026 at a CAGR of 14%
The main types of components in logistics automation are hardware, software, and services. The hardware market in logistic automation is used to describe any of the physical components of an analog or digital computer. Computer hardware also includes the physical parts of a computer, such as a case, central processing unit (CPU), monitor, mouse, keyboard, and computer data storage. The various functions include warehouse and storage management and transportation management, which are used in various organization sizes such as small-medium-sized organizations and large-scale organizations. These are used by several end users, including retail and e-commerce, automotive, food and beverage, logistics and transportation, and others.
North America was the largest region in the logistics automation market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the logistics automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growth of the e-commerce industry is expected to propel the growth of the logistics automation market going forward. Ecommerce refers to the buying and selling of goods and services with the help of the Internet. Logistics automation is used by the e-commerce industry to maintain its stock in warehouses and distribution centers. This helps in the easy handling of goods between different departments in the company. For instance, in February 2022, according to Forbes, a US-based business magazine, during the time of the pandemic, e-commerce sales grew by 50%, and the business of eCommerce during this time stood at $870 billion. Also, in 2020, in the U.S, there will be a 14.2% increase in e-commerce. Therefore, the growth of the e-commerce industry is driving the growth of the logistic automation market.
Technological innovations have emerged as the key trend gaining popularity in the logistics automation market. Major companies operating in the logistics automation market are introducing technological innovations to reinforce their position in the market. For instance, in March 2020, Dematic, a US-based company that manufactures logistics automation and materials handling systems, launched the latest generation of warehouse automation solutions called Multishuttle (DMS) 2 E. This system helps to control all logistics processes in the warehouse, as well as order picking and dispatch. The DMS-2E significantly increases speed, storage density, and accuracy and shows the availability of stock in warehouses and distribution centers.
In March 2020, Kion Group, a China-based company that manufactures materials handling equipment, acquired Digital Applications International Limited (DAI) for a deal amount of $133 million. This acquisition helps Kion Group to extend its software portfolio and systems engineering capabilities to meet future challenges and deliver advanced intralogistics globally. Digital Applications International is a UK-based company that provides automated warehousing systems.
1) By Component: Hardware; Software; Services
2) By Function: Warehouse and Storage Management; Transportation Management
3) By Organization Size: Small-Medium Size Organizations; Large Scale Organization
4) By End-User: Retail and E-Commerce; Automotive; Food and Beverage; Logistics and Transportation; Other End Users
Key Topics Covered:
1. Executive Summary
2. Logistics Automation Market Characteristics
3. Logistics Automation Market Trends And Strategies
4. Impact Of COVID-19 On Logistics Automation
5. Logistics Automation Market Size And Growth
6. Logistics Automation Market Segmentation
7. Logistics Automation Market Regional And Country Analysis
8. Asia-Pacific Logistics Automation Market
9. China Logistics Automation Market
10. India Logistics Automation Market
11. Japan Logistics Automation Market
12. Australia Logistics Automation Market
13. Indonesia Logistics Automation Market
14. South Korea Logistics Automation Market
15. Western Europe Logistics Automation Market
16. UK Logistics Automation Market
17. Germany Logistics Automation Market
18. France Logistics Automation Market
19. Eastern Europe Logistics Automation Market
20. Russia Logistics Automation Market
21. North America Logistics Automation Market
22. USA Logistics Automation Market
23. South America Logistics Automation Market
24. Brazil Logistics Automation Market
25. Middle East Logistics Automation Market
26. Africa Logistics Automation Market
27. Logistics Automation Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Logistics Automation Market
29. Logistics Automation Market Future Outlook and Potential Analysis
For more information about this report visit https://www.researchandmarkets.com/r/jw1nlt
Research and Markets
For E.S.T Office Hours Call +1-917-300-0470
U.S. Fax: 646-607-1904
SOURCE Research and Markets