Meticulous Research® Forecasts Global Logistics Automation Market to Reach $65.14 Billion by 2031

Meticulous Research® Forecasts Global Logistics Automation Market to Reach $65.14 Billion by 2031

Meticulous Research®, a leading global market research firm, today announced the release of its latest report, titled “Global Logistics Automation Market by Offering (Hardware, Software, Services), Type (Inbound, Outbound), Automation Mode, Application (Inventory Management, Others), End User (Retail & E-commerce, Automotive, Others) & Geography - Global Forecast to 2031.” The report provides a detailed analysis of the logistics automation sector, projecting a market valuation of $65.14 billion by 2031, with a robust compound annual growth rate (CAGR) of 10% from 2024 to 2031.

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Market Growth and Trends

The logistics automation market is poised for substantial growth, driven primarily by the surging expansion of e-commerce and the increasing deployment of robotics in logistics operations. Despite this growth trajectory, challenges such as high capital investment requirements and a lack of standardization in the logistics sector are expected to temper market expansion.

Opportunities and Challenges

The ongoing digital transformation within the logistics industry, advancements in sensor technologies, and the rising trend of outsourcing logistics services are set to unlock significant opportunities for market stakeholders. However, issues such as a shortage of skilled operators and privacy and security concerns present ongoing challenges to market growth.

Segment Insights

1. Offering:
• Hardware is anticipated to dominate the logistics automation market in 2024, driven by the rapid growth of e-commerce, changing consumer behaviors, and increased investments in logistics infrastructure. Noteworthy advancements include Prozo Distribution Private Limited's deployment of a mini-load Automated Storage & Retrieval System (ASRS) in collaboration with Craftsman Automation Limited.
• The Software segment is projected to experience the highest CAGR, fueled by advancements in logistics software, increased focus on software development, and seamless integration capabilities. For instance, Amazon Web Services, Inc. introduced the AWS Supply Chain application to enhance supply chain visibility and decision-making.
2. Type:
• The Inbound Logistics segment is expected to hold the largest market share in 2024 due to comprehensive solutions offered by key players like Fujitsu Limited, which provides integrated inbound logistics solutions.
• The Outbound Logistics segment is predicted to achieve the highest CAGR, driven by the emphasis on optimizing packaging and order fulfillment processes.
3. Automation Mode:
• Semi-Automatic Systems are forecasted to capture a larger market share in 2024 due to their cost-effectiveness and adaptability. However, Fully Automatic Systems are set to experience the highest CAGR, attributed to their efficiency and precision in logistics operations.
4. Application:
• Inventory Management is projected to lead the market in 2024, supported by growing demands for optimized inventory levels and advancements in Automated Storage & Retrieval Systems (ASRS). Swisslog Holding AG’s automation solution at Walmart’s Valdosta facility exemplifies this trend.
• The Inventory Management segment is also expected to record the highest CAGR, driven by the increasing use of RFID and barcodes.
5. End User:
• The Retail & E-commerce sector is set to account for the largest share in 2024 due to evolving customer expectations and increased automation in fulfillment centers. Dematic's automation project for Bünting SCM/Logistik GmbH highlights this shift.
• The Automotive sector is expected to see the highest CAGR, with significant investments in digitalization and automation technologies.
6. Geography:
• Asia-Pacific is predicted to hold the largest market share in 2024, driven by rapid urbanization, industrialization, and increasing logistics automation. Key developments include Neoperl Group AG’s implementation of Swisslog’s AutoStore solution in China and the Rhenus Group Hong Kong's collaboration with Geekplus Technology Co., Ltd.

Key Players

Prominent companies operating in the logistics automation market include Dematic (U.S.), Daifuku Co., Ltd. (Japan), Honeywell International Inc. (U.S.), Vanderlande Industries B.V. (Netherlands), KNAPP AG (Austria), SSI SCHAEFER Group (Germany), BEUMER Group GmbH & Co. KG (Germany), Konecranes Plc (Finland), FORTNA Inc. (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), TGW Logistics Group GmbH (Austria), Swisslog Holding AG (Switzerland), Slip Robotics (U.S.), and Locus Robotics (U.S.).

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About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

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