Logistics Automation Market Size is Projected to Reach USD 79,887.05 Million by 2025 - Valuates Reports
BANGALORE, India, Oct. 23, 2020 /PRNewswire/ -- According to the Latest Market Research Report "Logistics Automation Market Based on Component (Transportation Management and Warehouse & Storage Management. Transportation Management further studied across Services and Software. The Warehouse & Storage Management further studied across Hardware, Services, and Software), Based on Verticals (Aerospace & Defense, Automotive, Chemicals, Food & Beverage, Logistics & Transportation, Manufacturing, Oil, Gas, & Energy, Pharmaceuticals & Healthcare, and Retail & E-Commerce) and Region – Global Forecast to 2025", published on Valuates Reports
The Global Logistics Automation Market size is expected to grow from USD 44,545.71 Million in 2019 to USD 79,887.05 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 10.22%.
Major factors driving the growth of Logistics automation market size are the exponential growth of the e-commerce sector, developments in robotics and the emergence of the IoT, the introduction of driverless cars and drones in logistics, the growing acceptance of Industry 4.0, and the need to ensure the safety of the workforce.
The Final Report will cover the impact analysis of COVID-19 on this industry
Get Detailed Analysis of COVID-19 Impact on Logistics Automation Market : https://reports.valuates.com/request/sample/360I-Auto-5I204/The_Global ...
TRENDS INFLUENCING THE LOGISTICS AUTOMATION MARKET SIZE
The rise of the e-commerce industry drives growth in the logistics automation market size. With the increase in internet penetration across the globe, allowing individuals to access online transactions, the e-commerce industry is expected to expand rapidly. It will, therefore, contribute to the demand for logistics automation.
Increasing demand for IoT and other connected devices is expected to increase the logistics automation market size during the forecast period. To improve communication and automation, IoT plays a vital role in organizations to enable warehouses to be more productive and cost-efficient. Furthermore, to prevent losses and mitigate risks involved in the transport of goods, the introduction of IoT technology for logistics management has helped businesses track material deliveries and control sensitive goods.