May 18, 2020 10:47 AM ET
iCrowd Newswire – May 18, 2020
Logistics Automation market is estimated to reach US$ 121,343.3 Mn by 2027 from US$ 39,286.3 Mn in 2018. The report includes a key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.
Growing advancement in technology has encouraged increasing adoption of robots for various industries. Logistics automation is becoming essential for retailers owing to growing retail & e-commerce sectors worldwide. Market players are trying to achieve omnichannel and online strategies. Thus, logistics automation is necessary for retailers. The logistics automation ensures the management of the inventory, tracking, reporting and forecasting, packaging, transportation of goods, and warehouse management. The constant growth in the retail & e-commerce sector is expected to create new opportunities for the global logistics automation market during the forecasted period.
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Europe is a technologically advanced region. The e-commerce and online retail are key drivers for the upsurge in the demand for diverse types of warehouses such as parcel sorting centers, mega fulfillment centers (merchandise storage and pick-up), local parcel delivery centers, return processing centers, dot.com warehouses (fulfillment of online orders), and local delivery centers (for same-day deliveries). The global warehouse and storage market in Europe has grown annually by ~2-3% due to growth in the online retail and e-commerce sector. These factors are contributing to the high growth of the logistics automation market in this region.
The global market for logistics automation market is segmented based on the parameters such as component, mode of freight transport, application, end-user industry, and geography. Based on component, the hardware segment dominates the logistics automation market heavily and is expected to dominate the market in the forecast period from 2019 – 2027. On the basis of mode of freight transport, road segment led the market in 2018 with a maximum market share and is expected to continue its dominance during the forecast period. On the basisi of application, the warehouse management segement dominates the logistics automation market. Further, based on end-user industry, retail and e-commerce segment led the market with the maximum market share. Key players operating in the market are partnering with the small as well as large and other companies which are helping them to gain customer traction. The major companies offering logistics automation market include 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 among others. Several other companies are also offering these logistics automationb for various manufacturers, which is facilitating the market to propel over the years.
Market Initiatives was observed as the most adopted strategy in global logistics automation market. Few of the recent market initiatives are listed below:
2019: Swisslog announced completion of a major project for the Middle East’s leading telecom distributor for handsets and accessories, Axiom Telecom, for the design and implementation of a new Dubai-based automated warehouse facility with AutoStore.
2018: Honeywell announced completion of its acquisition of warehouse automation solutions provider Transnorm. Transnorm would be the part of Honeywell Safety and Productivity Solutions (SPS) and will complement its Honeywell Intelligrated business.
2017: Yamazaki Mazak Corporation (machine tools) and Murata Machinery, Ltd. (AS/RS) collaborated in the development of the MAZATEC SMS (Smart Manufacturing System).
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Keywords: Logistics Automation Market 2020, Logistics Automation, Logistics Automation Market