Logistics automation systems help streamline transportation and warehousing operations through integrated software and hardware solutions. These technologies facilitate inventory tracking, order management, fleet optimization, and automated material handling. Adopting logistics automation reduces shipping costs and labor needs while enhancing process visibility, productivity, and customer satisfaction. The global Logistics Automation Market is estimated to be valued at US$ 64.12 billion in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising global freight transportation volumes are propelling investments in logistics automation solutions to handle growing operational complexities efficiently. Continuous innovations are augmenting the capabilities of technologies like autonomous mobile robots, automated storage and retrieval systems, and collaborative robots. Integration of advanced technologies like artificial intelligence, Internet of Things, cloud computing, and big data analytics is automating planning, tracking, and optimization tasks. Automated systems powered by such Intelligent technologies are improving labor productivity exponentially while minimizing costs for logistics companies. This trend is expected to further accelerate the adoption of automation across warehousing and transportation functions over the coming years.
SWOT Analysis
Strength: Logistics Automation enables 24/7 operations, increased efficiency and reduced costs. It allows for real-time monitoring and control of logistics operations.
Weakness: High initial investment costs for automation equipment and technology. Resistance to change from traditional logistics methods. Reliance on advanced technologies involves risks of network failures or technical issues.
Opportunity: Growing e-commerce sector is driving demand for streamlined logistics. Adoption of IoT, AI and cloud computing offers opportunities to integrate new technologies. Emerging markets offer scope for automation.
Threats: Concerns about job losses due to increased automation. Trade conflicts and geopolitical tensions raise issues about global supply chain dependencies. Changes in regulations may impact automation plans and investments.
Key Takeaways
The Global logistics automation market size is expected to witness high growth.
Regional analysis: The logistics automation market in Asia Pacific region is witnessing fastest growth supported by rapid expansion of e-commerce sector across emerging economies like China and India. Countries in the region are investing heavily in developing advanced logistics infrastructure including automated warehouses and distribution centers. North America currently dominates the global market owing to strong presence of leading technology companies and early adoption by logistics operators. Europe is another major regional market driven by initiatives to modernize supply chain networks through Industry 4.0 technologies.
Key players operating in the logistics automation market are Trigger Point Performance, RumbleRoller, The Original Muscle Roller, LIVEPRO, TheraBand, GoFit, SKLZ, Gaiam, Body Benefits, Corength. These leading companies are focusing on developing innovative automation solutions through collaboration, mergers and acquisitions. For instance, Trigger Point Performance offers percussion massage tools that help in muscle recovery and relaxation.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it