The global logistics automation market is expected to grow at a significant rate during the forecast period (2018 – 2024). The adoption of driverless vehicles and drones are performing a significant role towards the growth of the global market. Logistics automation is an application of automation software that helps enterprises in improving the effectiveness of logistics procedures.
On the basis of component, the logistics automation market is segmented into transportation management and warehouse & storage management. Transportation management is further sub-segmented into software and services.
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On the basis of organization size, the logistics automation market is segmented into large enterprises and small and medium enterprises. Among these two segments, small and medium enterprises are expected to witness higher growth during the forecast period due to technological advancements and intensive competition among the key players and reduced cost of automated warehouses.
On the basis of vertical, the market is segmented into manufacturing, pharmaceuticals & healthcare, retail & e-commerce, aerospace & defense, logistics & transportation, chemicals, food & beverage, oil, gas, & energy, automotive and others.
Increasing acceptance of IoT technology is helping business enterprises to generate, store, process and share a huge amount of data with other connected devices such as radio frequency identification (RFID), sensors and gateway.
The major factors that are driving the growth of the logistics automation market include extensive growth in the e-commerce industry along with advancements in the field of robotics. According to a recent study, it has been observed that the boom in the e-commerce industry has threatened the growth of retail, manufacturing and logistic domain drastically.
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Geographically, logistics automation market in North America contribute the largest revenue, globally and is further expected to witness high growth during the forecast period. The growth of logistics automation market in this region is due to existence of large enterprises that are persistently utilizing logistics automation solutions for improving supply chain methods which includes transportation, manufacturing and assembling of products.
The logistics automation market is fragmented and the key players operating in this market includes Dematic Corporation, Murata Machinery, Ltd., Daifuku Co., Ltd., SSI Schaefer AG, Mecalux, S.A., VITRONIC, BEUMER Group, Toshiba Logistics Corporation, Honeywell Intelligrated, Inc., Swisslog Holding AG,KNAPP AG, TGW Logistics Group GmbH, Jungheinrich AG, WiseTech Global Limited, Falcon Autotech, System Logistics Spa, Matternet Inc., Pcdata BV, and JBT Corporation.