Dublin, Feb. 10, 2021 (GLOBE NEWSWIRE) -- The "Logistics Automation Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Component; Application; Mode of Freight Transport; End-User Industry, and Geography" report has been added to ResearchAndMarkets.com's offering.
The market was valued at US$ 41.5 billion in 2019 and is projected to reach US$ 91.7 billion by 2027; it is expected to grow at a CAGR of 11.5% from 2020 to 2027.
The logistics automation market is broadly segmented into five major regions - North America, Europe, APAC, MEA, and SAM. Growing advancement in technology has encouraged increasing adoption of robots for various industries. Logistics automation is becoming essential for retailers owing to growing retail & e-commerce sectors worldwide.
Market players are trying to achieve omnichannel and online strategies. Thus, logistics automation is necessary for retailers. The logistics automation ensures the management of the inventory, tracking, reporting and forecasting, packaging, transportation of goods, and warehouse management. The retailers attract customers by providing free and fast delivery options.
Thus, various industries are shifting toward the adoption of logistics automation to achieve effective supply chain processes as well as gain a competitive advantage to maintain their strong presence in the market. The continuous advancement in technology and the growing demand for automation are positively impacting the market across the world.
North America is an early adopter of technologies and has a sound IT infrastructure, with the US being the headquarters for many large logistics automation firms. The US, Canada, and Mexico are the major countries in North America. The US and Canada are the developed countries in terms of modern technologies, the standard of living, infrastructure, etc. The US market dominates the logistics automation market in North America, while Mexico is witnessing the highest growth rate.
The supply chain industry in the North American region has been undergoing a constant transformation and substantially impacting the fundamentals of warehousing and distribution. These transformations are associated with emerging technologies that fill the gap between supply chain operations and customers. These digitalization and technological changes are influenced by the penetration of e-commerce, which enable customers in North America to create an immediate and real-time demand impact on the order fulfillment operations.
Similarly, Europe is a technologically advanced region. The e-commerce and online retail are key drivers for the upsurge in the demand for diverse types of warehouses such as parcel sorting centers, mega fulfillment centers (merchandise storage and pick-up), local parcel delivery centers, return processing centers, dot.com warehouses (fulfillment of online orders), and local delivery centers (for same-day deliveries).
The global warehouse and storage market in Europe have grown immensely due to growth in the online retail and e-commerce sector. These factors are contributing to the high growth of the market in this region.
APAC is witnessing the fastest growth rate over the forecast period. Rapid digitalization and developments in the economy, increasing education awareness, adequate government support, and rising incomes of the middle class are among the attributable factors that have ensured a smooth transition of these economies from the developing stage toward a developed stage. The e-commerce industry already represents 15% of total retail sales across the region. The region continues to be the fastest-growing region.
Impact of COVID-19 on Logistics Automation Market
The sharp decline in the international logistics business industry is negatively impacting the growth of the global logistics automation market. The factory shutdowns travel bans, trade bans, and border lockdowns to combat and contain the outbreak have adversely affected the logistics industry.
Key Topics Covered:
2. Key Takeaways
3. Research Methodology
4. Logistics Automation Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Logistics Automation Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Growing Adoption of Industrial 4.0 across Manufacturing Industry
5.1.2 Utilization of Robotics in Warehouses
5.2 Key Market Restraints
5.2.1 High Cost of Implementation of Logistics Automation
5.3 Key Market Opportunities
5.3.1 Continuous Growth in Retail & E-commerce Sector
5.4 Future Trend
5.4.1 Autonomous Truck and Truck Platooning is Expected to Incite the Logistics Automation Market in the Future
5.5 Impact Analysis of Drivers and Restraints
6. Logistics Automation - Global Market Analysis
6.1 Logistics Automation Market Overview
6.2 Logistics Automation Market - Revenue, and Forecast to 2027 (US$ Million)
6.3 Market Positioning:
7. Logistics Automation Market Analysis - By Component
7.2 Logistics Automation Market, by Component (2019 and 2027)
8. Logistics Automation Market Analysis- By Mode of Freight Transport
8.2 Logistics Automation Market, By Mode of Freight Transport (2019 and 2027)
9. Logistics Automation Market Analysis- By Application
9.2 Logistics Automation Market, By Application (2019 and 2027)
9.3 Warehouse Management
9.4 Transportation Management
10. Logistics Automation Market Analysis- By End-User Industry
10.2 Logistics Automation Market, By End-User Industry (2019 and 2027)
10.3 Retail and E-Commerce
10.5 Oil and Gas
10.6 Food & Beverages
10.8 Healthcare and Pharmaceuticals
11. Logistics Automation Market - Geographic Analysis
12. Impact of COVID-19 Pandemic on Logistics Automation Market
12.2 North America
12.5 Middle East and Africa
12.6 South America
13. Industry Landscape
13.2 Market Initiative
13.3 Merger and Acquisition
13.4 New Development
14. Company Profiles
Daifuku Co., Ltd.
Dematic (KION Group)
Murata Machinery, Ltd.
Swisslog Holding AG
TGW Logistics Group
For more information about this report visit https://www.researchandmarkets.com/r/sguxni
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900