At 12.6% CAGR, Global Logistics Automation Market Potentially Worth USD 100.1 Bn by 2023 | Radiant Insights, Inc.

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At 12.6% CAGR, Global Logistics Automation Market Potentially Worth USD 100.1 Bn by 2023 | Radiant Insights, Inc.

November 07
01:24 2019
At 12.6% CAGR, Global Logistics Automation Market Potentially Worth USD 100.1 Bn by 2023 | Radiant Insights, Inc.

“Radiant Insights,Inc”
Radiant Insights, Inc has announced the addition of the “Global Logistics Automation Market Till 2023” report to their offering.

In recent years, logistics automation has emerged as a necessity for companies. Changes in customers’ preferences are resulting in the expansion of product categories, which makes handling them difficult, given the constraints of existing supply chain practices. Customers’ expectations have also increased, with concepts like ‘last-mile delivery’ and ‘delivery on-demand’ becoming common. To improve operational efficiency and remain competitive, companies are opting for logistics automation. The global Logistics Automation Market is expected to expand at a compound annual growth rate (CAGR) of 12.6% and will be worth USD 100.1 Bn by 2023.

Segmentation based on component:

The hardware segment is expected to hold a market share of more than 50% during the forecast period and will grow at a CAGR of 10.7%. Even though most companies prefer hardware products like automated conveyor systems, lift trucks, automated racks, and robotic picking for implementing logistics automation, the need for capital investments is a major deterrent. As a result, some of them opt for software solutions instead, since they are easy to integrate and are cost-effective. This segment is expected to expand at a significant CAGR of 16.0%, the highest under this categorization. Moreover, as companies try to reduce their capital investments, tasks are likely to be handed over to third-party logistics automation service providers.

End use industry segment insights:

The exponential expansion of the e-commerce industry, expectations regarding swifter deliveries, and intense competition among market players are some of the major factors contributing to the growth of the logistics automation market. Thus, the e-commerce and retail segment is expected to be the highest growing end use industry in terms of logistics automation, expanding at a CAGR of 16.9% during the analysis period. By 2023, this segment is expected to hold a market share of more than 40%.

The online product delivery ecosystem and the growing preference for air transport are expected to result in a significant increase in the volume of air cargo in the coming years. To cope up, airports around the world are adopting logistics automation to increase their capacities (despite the limited availability of land), and to ensure error-free and safe handling of large volumes of freight.

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Logistics automation also finds extensive applications in the food and beverage industry. The technology is well-suited for accurate product measurements, flawless packaging, and for performing tedious, repetitive tasks in tough environments like freezer warehouses.

Regional insights:

Europe and North America are mature markets, which dominated the global logistics automation sector with market shares of 33.6% and 29.2% respectively, in 2018. Most of the key players in the market are based in Europe. The logistics sector contributes significantly to the gross domestic product (GDP) of countries in Europe, make it a viable avenue for investments in automation. The logistics automation market in the Asia-Pacific and the Middle East and Africa regions are expected to exhibit higher growth in comparison to the other regions, owing to increasing investments in this sector and the presence of some significant players.

Companies covered:

  • ABB
  • Toyota Industrial Equipment
  • KION
  • Jungheinrich
  • KUKA
  • Daifuku
  • Murata Machinery
  • Beumer Group
  • KNAPP
  • System Logistics

Table of Contents

Chapter 1. Executive Summary

1.1. Market scope and segmentation

1.2. Key questions answered in this study

1.3. Executive summary

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Chapter 2. Introduction

2.1. Market definition

2.2. Market overview

  • Global market revenue (USD Bn)
  • Forecasted global market revenue (USD Bn)
  • Geography-wise market revenue (USD Bn)

2.3. Market trends

2.4. Market drivers

2.5. Market challenges

2.6. Value chain analysis

Chapter 3. Global Logistics Automation Market – Based on Component

3.1. Hardware – forecasted (2018-2023) market size (USD Bn), and key observations

3.2. Software – forecasted (2018-2023) market size (USD Bn), and key observations

3.3. Services – forecasted (2018-2023) market size (USD Bn), and key observations

Chapter 4. Global Logistics Automation Market – Based on End Use Industry

4.1. E-commerce and retail – forecasted (2018-2023) market size (USD Bn), and key observations

4.2. Automotive – forecasted (2018-2023) market size (USD Bn), and key observations

4.3. Aerospace – forecasted (2018-2023) market size (USD Bn), and key observations

4.4. Food and beverage – forecasted (2018-2023) market size (USD Bn), and key observations

4.5. Others – forecasted (2018-2023) market size (USD Bn), and key observations

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About Radiant Insight

Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy. Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.

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