Logistics Automation Market to Hit $90.00 Billion by 2030: Grand View Research, Inc.
SAN FRANCISCO, May 24, 2023 /PRNewswire/ -- The global logistics automation market size is expected to reach USD 90.00 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 14.7% over the forecast period. Logistics operations are critical factors in the smooth functioning of the supply chain of any business, especially low-margin, high-volume businesses. The logistics sector is witnessing a continuous increase in investments with a significant emphasis on the automation of several logistics functions. Automation enhances efficiency and aids in integrating supply chains; thus, automation is increasingly getting adopted across sectors. The growing tendency of the logistics industry towards adopting automation solutions is one of the significant factors driving the growth of the logistics automation industry.
Key Industry Insights & Findings from the report:
Read full market research report, "Logistics Automation Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Services), By Function, By Logistics Type, By Organization Size, By Software Application, By Vertical, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.
Logistics Automation Market Growth & Trends
According to a DHL report published in 2018, 80% of warehouses do not have any automation support and are still operated manually, while 15% of the total warehouses are just mechanized, which means the warehouses use sorters, conveyors, picker solutions, and other machined equipment which are not necessarily automated. The report states that only 5% of total warehouses are automated. The trend displays a remarkable opportunity for the growth of the market in the coming years as companies are increasingly adopting automation in their warehouses, including autonomous robots, automated sorting systems, conveyor systems, etc. Technological development such as communication technologies, sensors, tracking devices, computer vision, artificial intelligence, and machine learning are aiding the growth of the target market.
The e-commerce boom is resulting in increasing adoption of automation solutions owing to the enormous volumes of shipments. The ecommerce shipment volume is growing exponentially by the year, and hence the warehouses require automation solutions to meet the short delivery timelines. The e-commerce fulfillment centers are implementing automated sorting and conveyor systems and highly benefit from inventory management and order management software. Moreover, the major labor challenges faced by the logistics industry across the globe are driving the demand for logistics automation solutions.
The COVID-19 pandemic accelerated the adoption of automation technologies such as robots, conveyors, and automation software, among others, in the logistics sector. The imposed lockdowns and social distancing norms necessitated the deployment of automation tools in warehouses and logistics functions. Although there were shortages and delays in receiving the hardware equipment during the lockdown, the market displayed a positive growth trend from 2020 to 2022.
Logistics Automation Market Segmentation
Grand View Research has segmented the global logistics automation market based on component, function, logistics type, organization size, software application, vertical, and region
Logistics Automation Market - Component Outlook (Revenue, USD Billion, 2017 - 2030)
Logistics Automation Market - Function Outlook (Revenue, USD Billion, 2017 - 2030)
Logistics Automation Market - Logistics Type Outlook (Revenue, USD Billion, 2017 - 2030)
Logistics Automation Market - Organization Size Outlook (Revenue, USD Billion, 2017 - 2030)
Logistics Automation Market - Software Application Outlook (Revenue, USD Billion, 2017 - 2030)
Logistics Automation Market - Vertical Outlook (Revenue, USD Billion, 2017 - 2030)
Logistics Automation Market - Regional Outlook (Revenue, USD Billion, 2017 - 2030)
List of Key Players in the Logistics Automation Market
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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