Logistics automation will experience significant growth and transform the way goods are stored, managed or transported – fuelled by innovation and new consumer expectations. In this blog, we’ll explore the logistics automation market size, key segments, trends that are altering the future of logistics automation and insights from the experts.
Market Size and Growth
The logistics automation market was worth just around US$ 35.21 billion in 2022, but it is predicted that by 2030 it should be worth about US$ 85.19 billion, at a compound annual growth rate (CAGR) of 11.7 percent from 2022-2030.
Key Segmentation of the Logistics Automation Market
Logistics automation market can be categorised differently based on its components, applications and its end-user industries. The exact understanding of these segments can be a guideline for the businesses to penetrate this market better.
- By Components:
- Hardware: This consists of physical devices such as automated storage and retrieval systems (AS/RS) and conveyors and robotics that operate within warehouses and distribution centres.
- Software: You can access software solutions, such as warehouse management systems (WMS), transportation management systems (TMS) and other inventory management software, to make good decisions and run things smoothly.
- Services: This includes consulting, implementation, and maintenance services that guarantees the system operates efficiently.
- By Applications:
- Transportation Management: This app is used for optimizing logistics and transportation processes, and includes route optimisation, freight auditing and shipment tracking for more efficient transportation of goods and commodities.
- Warehouse management: Warehouse management automates the storage, retrieval and dispatch of goods from a warehouse. The major benefit of automated systems is increased accuracy and speed of order fulfilment.
- By End-user Industry
- Manufacturing
- Retail and E-Commerce
- Oil and Gas
- Food and Beverages
- Automotive
In Conclusion, the logistics automation can become a significant player in building the logistics future that will impact on decisions in supply chain management and will take care of mounting logistics complexities to meet the needs of customers, improve sustainability, save money and secure health and safety. Firms that embrace logistics automation technologies will compete and win as their operations become more intelligent, effective, efficient and robust.
