Logistics Automation Market -Overview
The mushrooming of e-commerce companies in several regions is estimated to change the logistic automation market in 2020. The software reports are formed by Market Research Future, which comprises of market alternatives for advancement. USD 90 Billion generation potential is forecasted by 2024 while displaying a CAGR of 11.7% in the upcoming period.
The imminent trend of digitalization is anticipated to transform the expansion of the logistic automation market in the approaching period. The upgradation in the supply chain is being undertaken to reduce shipping cost, which will further propel the logistic automation market.
The segmental assessment of the logistic automation market is segmented on the basis of component, organization size, application, end-user and region. Based on the end-user, the logistic automation market has been segmented into manufacturing, automation, oil gas, healthcare and pharmaceuticals, retail and e-commerce, aerospace defence, and others. Based on the components, the logistic automation market has been segmented into hardware, services and software. The hardware segment is further segmented into sorting and picking systems, automated guided vehicles, mobile devices, and others. On the basis of the organization sizes, the logistic automation market has been divided into large enterprises and SMEs. The application basis of segmenting the logistic automation market consist of transportation management and warehouse management. On the basis of regions, the logistic automation market has been segmented into Europe, North America, Asia-Pacific, and the rest of the regions.
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Detailed Regional Analysis
The regional study of the logistic automation market includes regions such as Europe, North America, Asia-Pacific, and the rest of the regions. The North American region is an early adopter of the technology, which has cemented its position at the vanguard of development in the global market. Furthermore, the incidence of some of the initial adopters of automation software and solution such as transportation, retail, manufacturing, automotive, healthcare, and pharmaceutical industries, are also backing the market progress. In addition, the existence of vital players in the region of Europe led to its position as the second prime market segment in the logistics automation market. The regional market of Asia Pacific is anticipated to be the fastest developing regional market owing to the speedy implementation of the technology among the other major industries.
The support from government bodies around the world is rising because the market needs an extra stimulus to achieve normalcy in such a scenario. The disharmony in the forces of demand and supply is estimated to create a slow growth background in the market. The emphasis on innovation is estimated to rise in the coming years, as the consumer needs have to be addressed in a better manner to ensure the resurgence of the global market. Also, the need to encourage business to include the environmental impact of their decisions is estimated to shape the development of the market in future. The need to mitigate losses sustained by the current public health crisis is estimated to be the sole focus of the market contenders in the upcoming years. Furthermore, the need to adopt a rapid and cost-effective method of operation is estimated to shape the market in the impending period. The capability of contenders to influence change in the market is increasing at a stable rate in the impending period.
The principal contenders in the logistics automation market are Toshiba Infrastructure Systems Solutions Corporation (Japan), TGW Logistics Group GmbH (Austria), Beumer Group (Germany), Swisslog Holding AG (Switzerland), Honeywell Intelligrated (US), Dematic Corp. (US), Murata Machinery Limited (Japan), Daifuku Co., Ltd (Japan), System Logistics SPA (Italy), Knapp AG (Austria), Jungheinrich AG (Germany), MecaluxSA (Spain), VITRONIC (Germany), SSI Schaefer LLC (UAE), WiseTech Global (Australia), and Falcon Autotech (UK).
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