May 21, 2024
Logistics Automation Market

The Logistics Automation Market Is Driven By The Rapid Growth In E-Commerce Industry

Logistics automation refers to the integration of automation technologies in logistics operations and processes to enhance productivity and efficiency. Logistics automation solutions help in streamlining material handling, order processing, monitoring and tracking shipments. They enable on-time deliveries, minimize shipping costs and human errors. The rapid growth in the e-commerce industry has surged the demand for faster and flexible fulfillment methods. E-commerce companies require logistics automation solutions to manage a large volume of orders efficiently while meeting customer expectations of quick deliveries.

The global Logistics Automation Market is estimated to be valued at US$ 73.87 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the Global Logistics Automation Market Size is the rise of autonomous mobile robots (AMRs). AMRs are playing a vital role in automating intralogistics operations across warehousing and distribution centers. They are capable of independently navigating complex environments and handling various types of payloads autonomously. AMRs can optimize inventory management, order picking, sorting, and transportation of goods within warehouses. Their adoption helps enterprises reduce labor costs, improve accuracy and productivity by performing repetitive and tedious tasks efficiently. They have emerged as a cost-effective alternative to legacy automation systems like conveyor belts and AGVs. The AMR market is expected to witness substantial growth over the forecast period with continual technological advancements in navigation, computer vision and artificial intelligence.

Porter’s Analysis

Threat of new entrants: Low capital requirements and lack of proprietary technologies limit barriers to entry in the industry.

Bargaining power of buyers: Large buyers have significant bargaining power due to their purchasing capacity. They can negotiate on pricing and demand better services.

Bargaining power of suppliers: A few dominant players control the supply of automation technologies and equipment. This gives them significant bargaining power over buyers.

Threat of new substitutes: Low threat as logistics automation solutions help improve efficiency and reduce costs significantly compared to traditional methods.

Competitive rivalry: Intense competition exists among major players to gain market share through new product launches and partnerships.

Key Takeaways

The global logistics automation market is expected to witness high growth. The global Logistics Automation Market is estimated to be valued at US$ 73.87 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.

Regional analysis: The rapid industrialization and growing e-commerce sector in Asia Pacific are driving demand for logistics automation. Countries like China and India are implementing initiatives like ‘Make in India’ and ‘Smart Cities’ to boost infrastructure development and push for warehouse automation.

Key players: 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. Trigger Point Performance leads the market with innovative percussion massage guns, while RumbleRoller is recognized for its foam roller line.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it