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Rising Implementation Of Big Data Expected To Drive The Global Logistics Automation Market Growth

Global Logistics Automation Market expected to reach approximately USD 101.66 Billion by 2024, growing at a CAGR of around 12.1% between 2018 and 2024

Logistics automation is the use of automated machinery and/or computer software to enhance the efficacy of logistics operations. It signifies processes within a distribution center or warehouse, with bigger jobs carried out by enterprise resource planning systems and supply chain management systems. A logistics automation system is comparable to the services offered by high-level computer systems. The growth of global logistics automation is expected to be mainly driven by the alterations owing to economic development along with a rise in the disposable income and affordability of consumers. This growing affordability is further projected to escalate the expectations for enhanced services, considering delivery time, product portfolio, and price, which is expected to upsurge the need for logistics automation as it can boost the efficacy of transportation and warehousing.

The global logistics automation market is projected to register a substantial expansion rate during the forecast period owing to the increasing industrialization and urbanization within emerging economies. Also, the swelling need from the industry to decrease operational charges along with the requirement to boost profitability and enhance warehouse efficiency is expected to drive the market growth. In addition, the increase in economic development, noteworthy upsurge in disposable income, and the altering purchasing pattern of consumers are other few aspects anticipated to propel the growth of the global logistics automation market during the forecast period.

Another important driver of the expansion of the global logistics automation market is the growing implementation of big data within automatic logistics technologies. To add to it, the escalating usage of IoT platforms within the supply chain and logistics management is also anticipated to drive the expansion of the global market in the years to come. Furthermore, the rising recognition of Logistics 4.0 in warehousing and transportation is also projected to fuel the market expansion during the coming period. Logistics 4.0 has the prospective to systematize the value stream that consists comprises of driverless cars (autonomous vehicles) and the removal of warehouse operation in support of analytical deliveries with nil-lead time integration. Moreover, elevated integration of robotics within warehouse management is also expected to drive market expansion in the near future. A set of predetermined paths is followed by the robots, using route symbols from tags on the floor. Diverse systems use ultrasonic sensors like those within the automotive parking.

However, in spite of numerous growth drivers, the elevated maintenance and installation costs are projected to obstruct the growth of the global logistics automation market in the near future. Other factors like compromised data security are also anticipated to hamper the market expansion. Nonetheless, the improvements in automation and technologies, like robotics, are expected to offer numerous lucrative avenues for market growth. To cite, cutting-edge supply chain AI and robotics solutions were developed by Carnegie Mellon University and Honeywell Intelligrated in August 2018 collectively for connected distribution centers. The partnership concentrated on next-gen machine learning and robotic controls to assist distribution units to deal with the increasing e-commerce resource and demands challenges.

Get PDF Sample of this Research Report for more Industry Insights – https://www.zionmarketresearch.com/sample/logistics-automation-market

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