Dublin, Sept. 01, 2022 (GLOBE NEWSWIRE) -- The "Logistics Automation Market By Component, By Application, By Organization Size, By End-Use Industry: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
Logistics automation market was valued at $49.7 billion in 2020, and is estimated to reach $147.4 billion by 2030, growing at a CAGR of 11.9% from 2021 to 2030.
North America is expected to dominate the global logistics automation market owing to growth in e-commerce and adoption of automation solutions as a result of labor shortages in the region. Moreover, adoption of robots in the region has been observed, which is expected to create demand for automation solutions and in turn is anticipated to contribute in the growth of the market.
For instance, in August 2021, Yandex Self-Driving Group partnered with Grubhub to operate delivery robots on college campuses in the U.S. Moreover, in 2020, Hyundai Motor Group acquired controlling interest in Boston Dynamics with the aim of advancing robotics and mobility.
Labor shortages are currently being faced across the globe, which in turn is creating the demand for warehouse automation. Moreover, companies in emerging countries such as China and India, are also adopting automation in warehouse to get ahead of labor shortage.
For instance, in 2022, Cainiao Network Technology built the largest unmanned warehouse in Southeast Asia for Thai courier Flash Express. This unmanned warehouse can process 6,000 parcels a day and this can rise to 20,000 a day during peak season. Henceforth, greater demand for warehouse automation from emerging countries is the factor that will be creating new growth opportunities for logistics automation market during the forecast period.
Based on organization size, the global logistics automation market is segregated into SME, and large enterprises. Large enterprises are utilizing automated material handling technology for several processes such as categorization and moving heavy items, or containers within warehouse. In addition, autonomous mobile robots are also being utilized to move materials from picking area to order packing area within the warehouse.
For instance, in January 2022, DHL supply chain announced15 million investment in robotics solutions from Boston Dynamics to further automate warehousing in North America. Boston Dynamics will equip DHL facilities with 'Stretch", which is a robot designed to automate unloading process in distribution centers.
The significant factors impacting the growth of the logistics automation market comprise improved efficiency & workforce safety, growth in e-commerce, adoption of industry 4.0 technologies, and advancements in robotics technologies. Moreover, factors such as high initial investment, are expected to be hampering the market growth.