Logistics automation solutions help enhance productivity, reduce costs, and improve supply chain efficiency. Warehouse automation technologies like automated storage and retrieval systems, conveyor systems, autonomous mobile robots aid in maximizing space utilization and improving productivity of warehouse operations. Similarly, fleet management systems, freight management systems, and transportation management systems powered by technologies like AI and IoT help improve transport planning, route optimization, and vehicle utilization.
The global Logistics Automation Market is estimated to be valued at US$ 73.87 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Adoption of Industry 4.0 technologies like IoT, artificial intelligence, robotics, and advanced analytics across the logistics sector is one of the key trends driving the growth of logistics automation market. As logistics operations involve complex planning, scheduling, and co-ordination of inventory movement, Industry 4.0 technologies help enhance efficiency, visibility, and optimisation of logistics processes. For instance, implementation of IoT enables real-time tracking of shipments and assets. AI and machine learning aids in predictive demand forecasting, automated warehouse operations, and autonomous transportation. Further, robotics and autonomous devices like drones, automated guided vehicles, and self-driving trucks reduce human errors and boost productivity of warehouse and transportation activities.
Segment Analysis
The Global Logistics Automation Market Size is dominated by warehouse management systems sub segment. It holds over 35% market share owing to increased adoption of automated warehousing systems by various industries to streamline operations. Warehouses are investing in technologies like conveyor systems, sorting systems, Automatic Storage and Retrieval Systems (ASRS) to achieve higher efficiency and reduce errors.
Key Takeaways
The global logistics automation market is expected to witness high growth over the forecast period of 2024 to 2031. The global Logistics Automation Market is estimated to be valued at US$ 73.87 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024-2031.
Regional analysis shows that Asia Pacific region is currently dominating as well as fastest growing region for logistics automation market. Countries like China and India are heavily investing in technologies to automate logistics operations.
Key players operating in the logistics automation market are Trigger Point Performance, RumbleRoller, The Original Muscle Roller, LIVEPRO, TheraBand, GoFit, SKLZ, Gaiam, Body Benefits, Corength. These key players are focusing on developing innovative automation solutions as well as forming strategic partnerships to strengthen their presence. Trigger Point Performance recently launched a new conveyor system product for automating retail warehouse operations. RumbleRoller on the other hand partners with Gaiam to provide integrated logistics automation solutions for e-commerce warehouses.
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