during the forecast period. The logistics automation market is gaining traction due digital transformation in the logistics industry, emergence of IoT, exponential growth in the eCommerce industry, advancements in robotics, and growing need to ensure workforce safety.
New York, March 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Logistics Automation Market by Component, Function, Organization Size, Vertical And Region - Global Forecast to 2026" - https://www.reportlinker.com/p05400541/?utm_source=GNW
Based on Function, the warehouse and storage management segment is expected to hold a larger market share during the forecast period
The warehouse and storage management segment is projected to account for larger market share in 2020 to 2026.The rising need to optimize warehouse spaces and distribution centers is fuelling the importance of warehouse and storage management function.
An effective warehouse management system ensures the efficient execution of warehousing operations, such as receiving, slotting, picking, and shipping.This system can process large amounts of data and coordinate movements within the warehouse, which in turn, helps in the efficient management of the supply chain network of a company.
Thus, warehouse operating companies are adopting warehouse and storage management solutions to manage inventory by streamlining storage and distribution operations.
Based on Organization size, the SMEs segment to grow at the highest CAGR during the forecast period
SMEs are focused on the deployment of logistics automation solutions to improve competitiveness and reduce operating costs.Despite the high cost involved in automating logistics processes, the adoption of logistics automation solutions provides long-term RoI.
However, due to limited budgets, SMEs are unable to automate logistics processes fully.With advancements in automation technology and intense competition among vendors, the cost of automating warehouses is declining.
This, in turn, will enable SMEs to adopt automation solutions and services in the near future. Furthermore, the adoption of cloud-based logistics automation software is expected to rise in SMEs as they require only necessary functions and features for small-scale warehouse operations.
Asia Pacific (APAC) region to record the highest growth in the logistics automation market
North America is expected to hold the largest market share during the forecast period and APAC is expected to grow at the highest CAGR during the forecast period.APAC is transforming dynamically with respect to the adoption of new technologies across various sectors, especially in China, Japan, India, and ANZ.
These countries have always supported and promoted industrial and technological growth.Also, they possess a developed technological infrastructure, which is promoting the adoption of logistics automation solutions across all industry verticals.
Moreover, the eCommerce companies in the region are investing in improving their supply chain network and logistics processes through the adoption of logistics automation solutions.Global companies are significantly investing in manufacturing, automobile, retail, and healthcare industries in the region.
Further, the expansion of the transportation and logistics industry and the increase in trade agreements are key factors projected to drive the growth of the logistics automation market in APAC.
• By Company Type: Tier 1 – 35%, Tier 2 – 39%, and Tier 3 – 36%
• By Designation: C-level – 55%, Directors – 40%, and Others – 5%
• By Region: North America – 30%, Europe – 35%, APAC – 25%, and Rest of the World (RoW)– 10%
This research study outlines the market potential, market dynamics, and major vendors operating in the logistics automation market. Key and innovative vendors in the logistics automation market include 6 River Systems (US), ABB (Switzerland), BEUMER Group (Germany), Blue Yonder (US), Daifuku (Japan), Dematic (US), E&K Automation (Germany), Eyesee (Hardis Group) (France), Falcon Autotech (India), GreyOrange (US), HighJump (Korber) (US), Honeywell Intelligrated (US), Jungheinrich (Germany), Knapp (Austria), Locus Robotics (US), Manhattan Associates (US), Murata Machinery (Japan), Oracle (US), SAP (Germany), SBS Toshiba Logistics (Japan), Seegrid (US), SSI Schaefer (Germany), Swisslog (Switzerland), System Logistics (Italy), TGW Logistics Group (Austria), and Zebra Technologies (US).
The market study covers the logistics automation market across different segments.It aims at estimating the market size and the growth potential of this market across different segments based on component (hardware-integrated systems, software, and services), function, organization size, vertical, and region.
The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report
The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall logistics automation market and its segments.This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies.
The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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