Logistics Automation Market Expected to Reach $ 88.9 Billion by 2026, with a Remarkable CAGR of 10.6% Wall Street Call

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According to a new market research report Logistics Automation Market by Component, Function (Warehouse and Storage Management, Transportation Management), Organization Size (SME, Large Business), Vertical (3PL, Retail & E-Commerce, FMCG, Manufacturing) and Region – Global Forecast until 2026 ″, published by MarketsandMarkets, the market size is expected to grow from $ 48.4 billion in 2020 to $ 88.9 billion by 2026, at a compound annual growth rate (CAGR) of 10.6% over the period of forecast. The logistics automation market is gaining ground due to the digital transformation in the logistics industry, the emergence of IoT, the exponential growth of the e-commerce industry, advancements in robotics and the growing need to ensure staff safety.

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The segment of integrated hardware systems will account for the largest market share during the forecast period

Hardware integrated systems account for the largest market share during the forecast period and these systems include Automated Storage and Retrieval System (ASRS), Conveyors and Sorting Systems, Robotic Material Handling Systems, Autonomous mobile robots (AMR) and automated guided vehicles (AGVs). The upward trend of smart warehouses and transportation will drive the adoption of these systems. Robots are increasingly being deployed in all segments of the supply chain, and their use is expected to increase significantly in the near future, as the growth of e-commerce execution continues to increase.

Retail and e-commerce segment is expected to grow at the highest CAGR during the forecast period

Retail and e-commerce are expected to post a higher CAGR during the forecast period. The adoption of logistics automation solutions has helped online and multi-channel retailers track and monitor the movement of light vehicles, ensuring product delivery on time. The growth of the e-commerce industry can be attributed to the growing trend of electronic funds transfer, internet marketing, online transaction processing and electronic data exchange. Rapidly changing customer demands, increasing online shopping, growing demand for shorter delivery times and fierce competition among online retail businesses have driven the demand for automated distribution centers, which which has increased the demand for adaptable and dedicated logistics automation solutions in the e-commerce industry.

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North America Region Holds Largest Market Share in Logistics Automation Market in 2020

North America is expected to hold the largest market share during the forecast period. North America is a global hub for innovation in advanced technologies in the logistics automation industry. North American companies are focused on reducing operational costs and modernizing factories, warehouses and distribution centers, and as a result, adopt logistics automation solutions to improve supply chain operations, including including the manufacture, assembly and transport of goods. The transportation and logistics industry in the United States involves a highly integrated supply chain network that connects producers and consumers through multiple modes of transportation, including air, rail, sea, and road. Multinational companies are increasing their investments in the transportation and logistics industry in the United States to facilitate the movement of goods around the world. Equipment, vehicles and infrastructure are synchronized using network connectivity to improve performance using IoT solutions.

Key and innovative suppliers in the logistics automation market include 6 River Systems (USA), ABB (Switzerland), BEUMER Group (Germany), Blue Yonder (USA), Daifuku (Japan), Dematic (USA) United), 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 (United States).

Browse adjacent markets @ Digitalization and Internet of Things (IoT) market research Reports and advice

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