Growing Inclination towards Automation to Redefine Logistics Industry
An automated machinery or an application ofcomputer software that is dedicated to improve the efficiency of logistics operations is called logistic automation. Generally, this refers to operations carried within a distribution center or a warehouse. In broader sense, logistics automation is used for supply chain management systems and in enterprise resource planning systems. Logistics automation systems can easily complement facilities that are provided by higher level computer systems. This aids in focusing on an individual node that has wider logistics network and allows systems to be designed as per requirements of that node. The growing demand for at-door services due to increase in the comfort threshold of people and busy work-life, is causing the e-commerce industry to proliferate at a rapid pace. This is causing the need for the adoption of effective logistics solutions to tackle large volume of data. At the same time, the need to eliminate human error and curb labor cost, are factors that are encouraging the adoption of automation in the logistics sector. Thus, the logistics automation market is expected to experience growth at a rapid pace.
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Growing Popularity of Logistics Automation Owes to Its Benefits
Logistics automation can decrease costly errors due their features, such as ERP system enabled integration of commodities and easy access to address book. Automatic storage and fuel surcharges offered by logistics automation eliminate the risk of wrong information that otherwise can be caused in manual data entry. The cost cutting on product shipping offered by logistics automation is expected to spur the growth of the market.
Real time freight tracking, proper insurance, auto pick-up, and customized freight accounting specifications advantages of logistics automation are used to understand freight cost and equip with automatic notifications, thereby improving customer service. In addition, logistics automation aids in the real time analysis of freight data. This assist in understanding loopholes in the execution of a logistics business and provide stakeholders with valuable insights to make rational insights. Logistics automation offers greater organizational control, high scalability, and improved speed. Hence, the benefits of logistics automation are expected to fuel the growth of the market in the years to come.
Modern Technologies to Add to the Momentum of Logistics Automation Market
The advent of technologies, such as internet of things, big data analytics, machine learning, cloud technology, and artificial intelligence observed to contribute largely to the expansion of the logistic automation market. In recent times, technologies, such as machine learning and artificial intelligence are being widely practised in warehouse. Machine learning is being applied to recognize repeated trends, robotics and AI are exercised in checking stocks. These technologies are efficiently are making smart supplier inventory management that is contributing largely to improved efficacy of logistics automation. Big data analytics is used to handle and manage large volume of data in logistics. Growing inclination towards automation and infiltration of digitalization are causing the generation of online data that are effectively being managed by logistics automation. Hence, the rapid paced expansion of the logistics automation market can be attributed to modern technologies.
LIST OF TABLES
Table1 Global Logistics Automation Market, By Country, 2018-2024
Table2 North America: Logistics Automation Market, By Country, 2018–2024
Table3 Europe: Logistics Automation Market, By Country, 2018–2024
Table4 Asia-Pacific: Logistics Automation Market, By Country, 2018–2024
Table5 Latin America: Logistics Automation Market, By Country, 2018–2024
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LIST OF FIGURES
Figure 1 Global Logistics Automation Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Porter’s Five Forces Analysis Of The Global Logistics Automation Market
Figure 4 Value Chain Of The Global Logistics Automation Market
Figure 5 Share Of Logistics Automation Market In 2018, By Country (In %)
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