Logistics Automation Market to Witness Exponential Growth by 2030: Grand View Research Inc.Posted by Sona Kulkarni on November 23rd, 2023 Logistics Automation Market Growth & Trends The global logistics automation market size is expected to reach USD 90.00 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 14.7% over the forecast period. Logistics operations are critical factors in the smooth functioning of the supply chain of any business, especially low-margin, high-volume businesses. The logistics sector is witnessing a continuous increase in investments with a significant emphasis on the automation of several logistics functions. Automation enhances efficiency and aids in integrating supply chains; thus, automation is increasingly getting adopted across sectors. The growing tendency of the logistics industry towards adopting automation solutions is one of the significant factors driving the growth of the logistics automation industry. According to a DHL report published in 2018, 80% of warehouses do not have any automation support and are still operated manually, while 15% of the total warehouses are just mechanized, which means the warehouses use sorters, conveyors, picker solutions, and other machined equipment which are not necessarily automated. The report states that only 5% of total warehouses are automated. The trend displays a remarkable opportunity for the growth of the market in the coming years as companies are increasingly adopting automation in their warehouses, including autonomous robots, automated sorting systems, conveyor systems, etc. Technological development such as communication technologies, sensors, tracking devices, computer vision, artificial intelligence, and machine learning are aiding the growth of the target market. The e-commerce boom is resulting in increasing adoption of automation solutions owing to the enormous volumes of shipments. The e-commerce shipment volume is growing exponentially by the year, and hence the warehouses require automation solutions to meet the short delivery timelines. The e-commerce fulfillment centers are implementing automated sorting and conveyor systems and highly benefit from inventory management and order management software. Moreover, the major labor challenges faced by the logistics industry across the globe are driving the demand for logistics automation solutions. The COVID-19 pandemic accelerated the adoption of automation technologies such as robots, conveyors, and automation software, among others, in the logistics sector. The imposed lockdowns and social distancing norms necessitated the deployment of automation tools in warehouses and logistics functions. Although there were shortages and delays in receiving the hardware equipment during the lockdown, the market displayed a positive growth trend from 2020 to 2022. Request a free sample copy or view report summary: Logistics Automation Market Report Logistics Automation Market Report Highlights
Access Press Release@ https://www.grandviewresearch.com/press-release/global-logistics-automation-market Logistics Automation Market Segmentation Grand View Research has segmented the global logistics automation market based on component, function, logistics type, organization size, software application, vertical, and region. Logistics Automation Component Outlook (Revenue, USD Billion, 2017 - 2030)
Logistics Automation Function Outlook (Revenue, USD Billion, 2017 - 2030)
Logistics Automation Logistics Type Outlook (Revenue, USD Billion, 2017 - 2030)
Logistics Automation Organization Size Outlook (Revenue, USD Billion, 2017 - 2030)
Logistics Automation Software Application Outlook (Revenue, USD Billion, 2017 - 2030)
Logistics Automation Vertical Outlook (Revenue, USD Billion, 2017 - 2030)
Logistics Automation Regional Outlook (Revenue, USD Billion, 2017 - 2030)
List of Key Players in the Logistics Automation Market
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. Like it? Share it!More by this author
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