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Logistics Automation Market Size

Report ID: GMI5584
Published Date: Oct 2024
Report Format: PDF

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Logistics Automation Market Size

The global logistics automation market was valued at USD 54.7 billion in 2023 and is projected to grow at a CAGR of 12.3% between 2024 and 2032. The market is experiencing substantial growth, driven by the increasing adoption of big data in automated logistics technologies. Companies leverage big data analytics to collect and analyze extensive information from various sources, thereby enhancing decision-making processes.

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For instance, according to Statista, the global big data market is forecasted to grow to USD 103 billion by 2027, more than double its market size of USD 42 billion in 2018. By utilizing big data, organizations can optimize inventory management, forecast demand more accurately, and improve transportation route planning. This data-driven approach boosts operational efficiency, reduces costs, and increases customer satisfaction through timely deliveries. As businesses increasingly recognize the value of data analytics in improving logistics operations, the demand for automated logistics solutions incorporating big data is expected to rise, further propelling market growth.

Logistics Automation Market Report Attributes
Report Attribute	Details
Base Year:	2023
Logistics Automation Market Size in 2023:	USD 54.7 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	12.3%
2032 Value Projection:	USD 148.4 Billion
Historical Data for:	2021 - 2023
No. of Pages:	180
Tables, Charts & Figures:	200
Segments covered:	Component, Organization Size, Application, Logistics, End User
Growth Drivers:	Increased adoption by the e-commerce platforms Rising adoption of big data in automated logistics technologies Increasing use of IoT platform in logistics and supply chain management The high penetration of robotics in warehouse management Reduced cost due to decreasing need for manpower
Pitfalls & Challenges:	Requirement of high capital investment Data privacy concerns

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Moreover, the logistics automation market is growing significantly due to the increasing adoption of IoT platforms in logistics and supply chain management. IoT devices enable real-time tracking and monitoring of inventory, shipments, and equipment, enhancing visibility throughout the supply chain. This connectivity allows organizations to make data-driven decisions, optimize routes, and manage resources more effectively. IoT-enabled sensors can predict maintenance needs, reducing downtime and improving operational efficiency. Additionally, integrating IoT with automation technologies fosters seamless communication between various systems, leading to enhanced coordination and faster response times. As companies seek to improve efficiency and transparency in their logistics operations, the adoption of IoT solutions will continue to accelerate, driving the growth of the market.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The global market size for logistics automation was valued at USD 54.7 billion in 2023 and is projected to reach USD 148.4 billion by 2032, driven by a CAGR of 12.3% from 2024 to 2032.

The hardware segment accounted for over 55% of the market share in 2023 and is expected to exceed USD 85 billion by 2032, driven by the need for efficient material handling and storage operations.

North America market accounted for over 30% of the market share in 2023 and is expected to exceed USD 50 billion by 2032, driven by the rapid expansion of e-commerce and demand for operational efficiency.

Major players in the industry include Daifuku, Dematic, Honeywell International, IBM, Knapp AG, Murata Machinery, and Oracle Corporation.