New York, April 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Logistics Automation Market by Component, Function, Logistics Type Software Application, Vertical and Region - Global Forecast to 2028" - https://www.reportlinker.com/p05400541/?utm_source=GNW
Based on Function, the inventory and storage management segment is expected to hold a larger market share during the forecast period
The inventory and storage management segment is projected to account for larger market share in 2023 to 2028.Inventory and storage management includes tasks, such as material handling, order processing, demand forecasting, and packaging, in addition to inventory control, plant and warehouse site selection, distribution management, and salvage and scrap disposal.
Companies customize warehouse and storage management solutions according to their specific requirements.These solutions are aimed at improving safety and security and optimizing operations with real-time global positioning system (GPS) tracking.
Thus, warehouse operating companies are adopting warehouse and storage management solutions to manage inventory by streamlining storage and distribution operations.
Based on Organization size, the SMEs segment to grow at the highest CAGR during the forecast period
SMEs are focused on the deployment of logistics automation solutions to enhance competitiveness and reduce operating costs.Even though the high cost involved in automating logistics processes, the adoption of logistics automation solutions offers long-term RoI.
However, SMEs are unable to automate logistics processes fully.With advancements in automation technology and intense competition among vendors, the cost of automating warehouses is declining.
This, in turn, will enable SMEs to adopt automation solutions and services in the near opportunity. Furthermore, the adoption of cloud-based logistics automation software is expected to rise in SMEs as they require only required functions and features for small-scale warehouse operations.
Asia Pacific (APAC) region to record the highest CAGR in the logistics automation market
Asia Pacific is expected to grow at the highest CAGR during the forecast period.APAC is changing dynamically with respect to the adoption of new technologies across various sectors, especially in China, Japan and India.
These countries have constantly supported and promoted industrial and technological growth.Moreover, the companies are significantly investing in manufacturing, automobile, retail, and healthcare industries in the region.
Further, the expansion of the transportation and logistics industry and the increase in trade agreements are key factors projected to drive the growth of the logistics automation market in APAC.
• By Company Type: Tier 1 – 45%, Tier 2 – 40%, and Tier 3 – 15%
• By Designation: C-level – 40%, Directors – 35%, Managers– 15% and Others – 10%
• By Region: North America – 15%, Europe – 35%, Asia Pacific – 40%, Middle East & Africa– 5%, and Latin America– 5%
This research study outlines the market potential, market dynamics, and major vendors operating in the logistics automation market. Key and innovative vendors in the logistics automation market include Dematic (US), Honeywell Intelligrated (US), Daifuku (Japan), Oracle (US), SAP (Germany),IBM(US) ,SSI Schaefer (Germany), Knapp (Austria), Manhattan Associates (US), Swisslog (Switzerland), Blue Yonder (US),Mantis(US),Murata Machinery (Japan), TGW Logistics Group (Austria), Jungheinrich (Germany), System Logistics (Italy), Zebra Technologies (US), ABB (Switzerland), BEUMER Group (Germany),Korber(Germany), O9 Solutions(US), JR Automation(US), Automated Logistics Systems(US),SBS Toshiba Logistics (Japan), SAVOYE(France), Symbotic(US), Locus Robotics(US), GreyOrange (US), Eyesee (Hardis Group) (France), Falcon Autotech (India), Logistically(US),and Logiwa(US).
Research coverage
The market study covers the logistics automation market across different segments.It aims at estimating the market size and the growth potential of this market across different segments based on component (hardware, software, and services), function, Logistics type, organization size, application, vertical, and region.
The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report
The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall logistics automation market and its segments.This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies.
The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05400541/?utm_source=GNW
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