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Remember the last time you made an internet purchase. For some, this is a daily practice; for others, once a month is fine, and for still others, an internet purchase is a once-a-year pleasure. From buying a pen to smartphones to home groceries, you must have bought something online. People want items to be delivered at their doorsteps as soon as they click “buy” in today’s consumer-driven world. The vendors that sell and the service providers who deliver the items have a tremendous amount of pressure on them and the warehouses that store.
There is a boom in the e-commerce market and a rise in consumer demands for the same delivery. In order to fulfill the demand, online vendors and retailers who want to provide same-day delivery must have their warehouses and logistics operations automated by having the tools to fill orders in less than 24 hours. The picking, packing, and document processing with automation can help them achieve same-day delivery.
McKinsey Global Institute in 2019 estimated that the automation industry for transportation and warehousing industry has the third-highest potential. From trucks, planes, even drones, new innovative logistics, and transportation catches catch our eye sights. For instance, in May 2021, Amazon has announced expanding its business in British Columbia and Metro Vancouver by constructing five new buildings. That includes a fulfillment center, sortation center, and three delivery stations. These new facilities will help them satisfy the growing demand for quality products and fast delivery times and expand the support and service.
Organizations like Amazon.com, FedEx, IKEA, Nike, and Walmarts have automated warehouses across many regions on the globe. For instance, in February 2020, Nike partnered with Geek+ robotics installed 220+ robots to introduce same-day delivery in Japan. These robots will carry Nike products directly to the workers at the warehouse to which will increase efficiency and decrease the cost making regular work easy.
The usage of IoT in the industrial sector and interconnected systems through the network is assisting businesses in various tasks, including material batching, picking, ordering, packaging, warehouse security, and inspection, and assisting in vastly improving operational efficiency.
Key Market Driver -
• Increasing e-commerce shopping and consumer demands for same day delivery could boost the logistics automation market. • Developing technology in robotics cloud drive the market growth. • Increasing adoption of IoT technology and interconnected network systems.
Key Market Restraint -
• Time required for the setup is higher which could restrain the market growth.
The major players in the logistics automation markets are Daifuku Co., Ltd., Dematic Corporation, Murata Machinery, Ltd., WiseTech Global Limited, KNAPP AG, Honeywell Intelligrated, Inc., Swisslog Holding AG, TGW Logistics Group GmbH, Mecalux S.A., SSI Schaefer AG, VITRONIC, BEUMER Group., Inspirage, Jungheinrich AG, Toshiba Logistics Corporation, System Logistics Spa, ULMA Handling Systems, FALCON AUTOTECH, SI Systems LLC, and FRAMOS, among others. Many logistics companies are turning towards machine learning as a new technology to improve productivity and determine the most efficient and effective routes to market. For instance, in January 2019, Pepsico partnered with Robby Technologies and launched Hello Goodness automated delivery robots at the University of Pacific. According to orders placed by students, these self-driving snackbots deliver snacks and beverages on campus.
North America currently dominates the logistics automation market. It is expected to continue the domination by holding the largest market size during the forecasted 2021-2028, owing to the technology's early adoption. Also, the region is continuously supporting and promoting industrial-technological growth, which could be the driving factor for the market.
Europe is expected to grow enormously, witnessing high investment across various industries in technology like IoT, machine learning, and automation. The primary key driver of the region could be the rapid growth and investment in the e-commerce and retail sectors.
Asia Pacific region is expected to show the highest CAGR during the period. Regions like China, Japan are early adopters of the technology. e-commerce enterprises in China, Japan, India, Australia, and New Zealand have started investing and adopting logistics automation technologies to improve their supply chain network and logistics procedures.
The Middle East and Africa regions are expected to show steady growth as the demand for cost reduction and increased efficiency in warehouses has increased within the retailers. Similarly, South America is expected to show promising growth because the region is experiencing demand for warehouse automation for increased customer experience.
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