The global logistics automation market size is projected to grow from USD 48.4 billion in 2020 to USD 88.9 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.6% 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.
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Hardware-integrated systems segment to account for largest market share during the forecast period
Hardware-integrated systems account for largest market share during the forecast period and these systems include Automated Storage and Retrieval System (ASRS), conveyors and sortation systems, robotic handling systems, Autonomous Mobile Robots (AMRs), and Automated Guided Vehicles (AGVs). The rising trend of smart warehosues and transportation will boost the adoption of these systems. Robots are increasingly being deployed across all segments of the supply chain, and their usage is expected to witness a significant surge in the near future as the growth of eCommerce fulfillment continues to rise.
Retail and eCommerce segment is expected to grow at the highest CAGR during the forecast period
Retail and eCommerce is expected to exhibit a higher CAGR during the forecast period. The adoption of logistics automation solutions has helped online and multichannel retailers track and monitor the movement of light goods vehicles, thereby ensuring the timely delivery of products. The growth of the eCommerce industry can be attributed to the increasing trend of electronic fund transfer, internet marketing, online transaction processing, and electronic data interchange. Rapidly changing customer demands, rise in online shopping, increasing demand for shorter delivery times, and fierce competition among online retailing companies have boosted the demand for automated fulfillment centers, which, in turn, has increased the demand for adaptable and dedicated logistics automation solutions in the eCommerce industry.
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The major vendors covered 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). These players have adopted various growth strategies, such as partnerships, business expansions, mergers and acquisitions, partnerships, agreements, and collaborations, new product launches to expand their presence in the logistics automation market. Partnerships and new product launches have been the most adopted strategies by major players from 2019 to 2021, which helped them innovate their offerings and broaden their customer base.
Dematic (US) is one of the leading vendors of the logistics automation market. Dematic has adopted both, organic and inorganic growth strategies to enhance its position in the logistics automation market. As a part of the organic growth strategies, in March 2020, the company launched Dematic launched the Dematic Multishuttle (DMS) 2 E, which is the latest version of the company’s warehouse automation solution. The company also focused on inorganic growth strategies, such as acquisition and partnerships, which facilitated the expansion of their portfolio. In Spetember 2019, Dematic partnered with OPEX Corporation that enabled Dematic to act as an integrator for a small item sorting system called Sure Sort.
Honeywell Intelligrated (US) is another top player in the logistics automation market and has majorly adopted inorganic growth strategies to diversify its product offerings with the help of innovative technologies. In line with its inorganic growth strategies, in February 2021, Honeywell Intelligrated partnered with Fetch Robotics, a company that provides cloud-driven robotic solutions. Fetch Robotics will launch an autonomous mobile robot called PalletTransport1500 for contactless pallet transportation across distribution centers. It will utilize Honeywell Intelligrated’s Momentum warehouse execution system software to move pallets and other large payloads up to 1,136 kg safely and efficiently.
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