The North America Logistics Automation Market would witness market growth of 10.8% CAGR during the forecast period (2020-2026). The rising adoption of Industry 4.0 has resulted in a comprehensive digital change across the manufacturing industry. This, as a result, increased the incorporation of logistics automation elements across the industries for leveraging the capability of advanced digital technologies. The logistics automation enterprises provide a competitive advantage to their customer by redefining several supply chain procedures.
The rising advancements of digital technologies like cloud computing, sophisticated software, and Big Data could be utilized, which are offered by the logistics automation vendors in order to maintain visibility across the complete supply chain with enhanced visibility, transparency, operations, and efficiency. Moreover, technologies like robotics, automation, and the Internet of Things (IoT) are also getting huge traction. Further, the need to implement logistics automation by the companies is expected to increase during the forecast period.
The logistics automation market would witness various growth avenues over the forthcoming years. This is credited to the rising demand from the industry to enhance the productivity of warehouses, increase profitability, and cut down operational costs. Along with this, the logistics automation market would witness bright growth prospects due to a number of factors including changing purchasing rends of customers, a surge in economic growth, and a considerable rise in disposable incomes.
The US market dominated the North America Logistics Automation Transportation Management Market by Country 2019, and would continue to be a dominant market till 2026. The Canada market is experiencing a CAGR of 15.4% during (2020 - 2026). Additionally, The Mexico market would witness a CAGR of 14.4% during (2020 - 2026).
The Hardware market dominated the Canada Logistics Automation Market by Component 2019, thereby, achieving a market value of $1,877.8 million by 2026. The Software market is estimated to grow at a CAGR of 13.8% during (2020 - 2026). Additionally, The Services market is expected to witness a CAGR of 15.2% during (2020 - 2026).
Based on Function, the market is segmented into Warehouse & Storage Management and Transportation Management. Based on Component, the market is segmented into Hardware, Software and Services. Software segment is further categorized across Warehouse Management System (WMS) Software and Transportation Management System (TMS) Software. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into Third Party Logistics (3PL), FMCG, Retail & eCommerce, Manufacturing, Oil, Gas & Energy, Aerospace & Defense, Chemicals & Pharmaceuticals and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: Logistics Automation Market in North America is expected to register a CAGR of 10.8% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Kion Group, Honeywell International, Inc., Daifuku Co., Limited, Knapp AG, Kuka AG, Murata Manufacturing Co., Ltd., Oracle Corporation, BEUMER Group GmbH & Co. KG, Manhattan Associates, Inc., and SSI Schaefer Group.
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