Logistics Automation Market Poised to Garner High Revenues of US$ 73.87 Billion by 2024 Owing to Growing Adoption

The logistics automation market involves the integration of advanced technologies like robotics, internet of things, autonomous vehicles and automation software in supply chain and logistics operations. Automation solutions help to improve operational efficiency, reduce costs and enhance customer experience through seamless delivery of goods. Robots are increasingly being deployed for picking, packing, palletizing and sorting activities in warehouses. Autonomous vehicles facilitate delivery of shipments on roads and self-driving forklifts are utilized for intralogistics.

The logistics automation market is estimated to be valued at US$ 53.71 Billion in 2024 and is expected to reach US$ 115.27 Billion by 2031, exhibiting a compound annual growth rate (CAGR) of 11.5% from 2024 to 2031.

Key Takeaways

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. Logistics automation solutions provide opportunities to optimize inventory management, enhance visibility across supply chain and fulfillment processes through real-time tracking. There is growing adoption of automation in last mile delivery with autonomous vehicles facilitating faster and safer shipments. Many logistics companies are expanding globally through strategic partnerships and mergers and acquisitions to integrate advanced technologies on a large scale.

Market drivers

The key driver for growth of Logistics Automation Market Growth  is the need to improve operational efficiency of supply chain processes. Automation helps to streamline material handling, picking, sorting and reduce logistic costs significantly. It allows 24/7 operations with enhanced productivity even during labor shortages. Automated solutions ensure accuracy in order fulfillment and improve customer satisfaction levels through on-time deliveries. This drives the demand for robotics, autonomous mobile robots, automated storage and retrieval systems in warehouses and distribution centers globally.

PEST Analysis

Political: The rise in trade activities and globalization are encouraging governments worldwide to invest in advanced logistics infrastructure. Favorable policies and regulations regarding adoption of automation technologies are expected to boost market growth.

Economic: High labor costs and need to improve operational efficiency are driving companies to automate their logistics processes. The market is anticipated to grow steadily due to increasing e-commerce activities and demand for faster delivery of goods.

Social: Younger population is adopting new technologies rapidly. Customers want their goods delivered quickly and accurately which is encouraging logistics firms to automate their operations. Safety regulations in warehouses are also prompting use of automated solutions.

Technological: Advancements in robotics, autonomous vehicles, analytics and IoT are enabling new possibilities of logistics automation. Adoption of technologies like artificial intelligence, machine learning and big data is allowing facilities to streamline operations through real-time tracking and automated decision making.

Geographical regions with high market concentration
North America accounts for the largest share in the logistics automation market currently due to strong presence of leading technology vendors and early adoption among logistics companies. Rapid growth of e-commerce sector is also fueling investments in this region.

Fastest growing region
Asia Pacific region is poised to witness fastest growth during the forecast period. This can be attributed to expanding manufacturing industry, rising exports from countries like China and India, and growing emphasis on supply chain optimization. Urbanization is augmenting delivery volumes while rising labor costs are prompting logistics firms to automate their warehouses and distribution centers.

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