The global logistics automation market is expected to witness remarkable growth during the forecast period, thanks to the rising urbanization and industrialisation in developing countries.
Logistics automation refers to use of advanced automation software and machinery in the logistics services. The system helps in improving the efficiency of logistics operations. The entire system comprises of several equipment such as automated storage, retrieval systems, vertical lift modules and automated guided vehicles, software and relevant services.
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An upcoming report on the logistics automation market by Transparency Market Research is expected to provide an in depth analysis on industry. The report is anticipated to cover all segments in the market. Along with this, the report is anticipated to have of vital data that will help indicating growth and latest trend in the logistics automation market.
Logistics Automation Market: Notable Developments
Some of the recent development in the logistics automation market are-
Logistics automation is widely adopted in the warehouses owing to their ability to reduce workforce. This can be related with the fact that Alibaba, one of the largest retailer reduced 70% of workforce by adopting logistics automation in the warehouses.
There is a significant boost in the mobile robots in the small and medium warehouses owing to their ability to reduce costs with in the industry.
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Logistics Automation Market: Key Trends
The global logistics automation market is expected to witness an astonishing growth in the coming few years. This is mainly due to the increasing demand from the industry to improve warehouse efficiency, reduce operational cost and increasing profitability. The logistics automation can help business in all the three factors, this is projected to drive the global logistics automation market.
Apart from this, factors like rise in economic development, significant rise disposable income, and change in buying pattern of customers are some other factors expected to boost he global logistics automation market in the coming few years.
On the flipside, despite several growth drivers in the logistics automation market is mainly hamper due to the factors such as high costs of installation, and maintenance. Other factors such as compromised data security is another prominent factor impeding growth in the logistics automation market in the coming few years. Nevertheless, advancements in technologies such as robotics, and automation is anticipated to provide several lucrative opportunities to the market growth.
Logistics Automation Market: Regional Outlook
North America is expected to hold largest share in the logistics automation market in the forecast period. This is mainly due to the early adoption of advanced technology and high spending power of the people in the region.
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Logistics Automation Market: Competitive Landscape
The competitive landscape of the logistics automation market is highly fragmented with the presence of several players across the globe. Players in the logistics automation industry are focusing towards the adopting advanced technologies in order to cater increasing demand and consumer experience.
This can be related with a latest move by key players, Haven. The player in developed a track-and-trace solution that help in real time visibility in the logistics. This is expected to offer several opportunities for the growth of the logistics automation industry.