Logistics Automation Market: Introduction
Logistics is one of the major applications for technologies such as automation, robotics, and artificial intelligence, and the industry is currently valued at approximately $5 trillion, globally. Economic development, enhancement of disposable income, affordability, and buying pattern of customers across various countries has seen dramatic changes in the recent years. With increase in affordability, the customer in turn asks for better services and have higher expectation, in terms of availability of products and the delivery time and cost. Such high customer expectation demand the manufacturing, warehousing, and transportation to become more efficient. Logistics Automation refers to the application of automation software and machinery to improve upon the efficiency of logistics operations. The Logistics Automation system comprises of equipment (automated storage and retrieval systems, vertical lift modules, automated guided vehicles, conveyers, robots, etc.), software (integration software, operation control software, business control software, etc.), and relevant services.
Logistics Automation Market: Drivers and Challenges
The e-commerce boom in recent years, has impacted manufacturing, retail, and logistics industries dramatically. In the last few years, retail industry is transitioning from the traditional brick and mortar stores to online stores. Such a transition is putting tremendous pressure on the supply chains and warehousing systems, which is further increased by the labor challenges. Logistics Automation is a solution to these challenges, and is being implemented across the globe to smoothen the operating processes. Hence, the e-commerce boom is driving the market for Logistics Automation. Other important factors causing growth in the Logistics Automation market are advancements in technologies such as robotics, and automation. High cost of implementation, and security and safety concerns are some of the major challenges in the market.
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Logistics Automation Market: Segmentation
Global Logistics Automation Market can be segmented on the basis of Component, Application, and Verticals.
On the basis of Component, Logistics Automation Market can be segmented as:
On the basis of Application, Logistics Automation Market can be segmented as:
- Warehouse Management
- Transportation Management
On the basis of Vertical, Logistics Automation Market can be segmented as:
- Logistics and Transportation
- Healthcare and Pharmaceuticals
- Food and Beverages
Logistics Automation Market: Key Players
Some of the key players of Logistics Automation market are Dematic, Daifuku, Kion Group, Kuka Robotics Corp., Murata Machinery, Ltd., TGW Logistics Group, VITRONIC, System Logistics Spa, Falcon Autotech, and ULMA Handling Systems amongst others.
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