Increasing demand for logistics automation in hardware-centric automation type coupled with high investment in research and development of logistics automation is fueling the market growth.
The Global Logistics Automation Market is forecast to reach $176 billion (USD 120.08 billion) by 2026, according to a new report by Reports and Data.
The logistics automation market is rising rapidly in the global market owing to the proliferation of the adoption rate of automation in the logistics chains globally. The convenience of lesser human effort and enhanced overall operational improvement is fueling up the market growth of logistics automation.
In the year 2018, Manufacturing Industries segment has witnessed the highest market demand. The manufacturing industries currently are prone to have the highest utilisation of the logistics system as both the raw materials and end manufactured products require the logistics system. Retail and eCommerce segments are also significant contributors to this market.
Asia Pacific market is forecasted to generate a revenue of USD 43.83 Billion in the year 2026, owing to its extensive market penetration towards logistics automation coupled with its rise in consumer base in eCommerce and transcendence in manufacturing industries in China, Japan, and India.
Key participants of the study include Murata Machinery, Vitronic, Toshiba Logistics, Wisetech Global, Swisslog Holding AG, ULMA Handling Systems, Deutsche Post DHL Group, DSV Air & Sea Inc., FedEx Corp., United Parcel Service, Inc.