At 12.1% CAGR, Europe Logistics Automation Market is Projected to be Worth US$ 25,191.85 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe logistics automation market was valued at US$ 10,084.34 million in 2022 and is expected to reach US$ 25,191.85 million by 2030, registering a CAGR of 12.1% from 2022 to 2030. Utilization of robotics in warehouses and continuous growth in retail & e-commerce sector are among the critical factors attributed to the Europe logistics automation market expansion.

With the increasing consumer expectations, the market players are focusing on investing in IT and operational functions in warehouses. There is growing development in connectivity technology globally, as tech companies make everything from sortation to arranging pallets in the warehouse internet-ready. They are leveraging the latest supply chain technology and the Internet of Things (IoT). Smart warehouses serve as a hub to enhance the efficiency and speed of the supply chain process. From wearables on workers to sensors and smart equipment, internet-enabled devices and technology can profoundly change logistics management. Warehouse and transport management are proactively adopting logistics automation robots, which automate the process of moving and storage of goods across the supply chain. The logistics automation robots are integrated across warehouses and storage facilities for organizing and transporting the products. These robots also offer enhanced levels of uptime compared to manual labor, which leads to the growth in productivity and profitability of the industry. The prime application of logistics robots is mobile automated guided vehicles (AGVs) deployed in storage facilities and warehouses for transporting goods. They operate in predefined pathways for shipping and storing the products in different pallets in the warehouses. AGVs help reduce the overall cost of logistics and streamline the supply chain efficiently. Therefore, as the utilization of robotics in warehouse increases, the Europe logistics automation market also grows.

On the contrary, high cost of implementation of logistics automation hampers the growth of Europe logistics automation market.

Based on component, the Europe logistics automation market is segmented into hardware, software, and services. The hardware segment held 71.1% share of the Europe logistics automation market in 2022, amassing US$ 7,170.39 million. It is projected to garner US$ 17,137.21 million by 2030 to expand at 11.5% CAGR during 2022-2030.

In terms of mode of freight transport, the Europe logistics automation market is segmented into land, water, and air. The land segment held 55.1% share of the Europe logistics automation market in 2022, amassing US$ 5,551.75 million. It is estimated to garner US$ 12,827.57 million by 2030 to expand at 11.0% CAGR during 2022-2030.

By application, the Europe logistics automation market is bifurcated into warehouse management and transportation management. The warehouse management segment held 83.1% share of Europe logistics automation market in 2022, amassing US$ 8,380.95 million. It is predicted to garner US$ 20,654.35 million by 2030 to expand at 11.9% CAGR during 2022-2030.

In terms of end-user industry, the Europe logistics automation market is segmented into manufacturing, retail and e-commerce, oil and gas, food and beverages, automotive, healthcare and pharmaceutical, and others. The manufacturing segment held 19.4% share of the Europe logistics automation market in 2022, amassing US$ 1,951.59 million. It is estimated to garner US$ 5,396.70 million by 2030 to expand at 13.6% CAGR during 2022-2030.

Based on country, the Europe logistics automation market is categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. Germany held 29.7% share of Europe logistics automation market in 2022, amassing US$ 2,999.08 million. It is projected to garner US$ 6,653.98 million by 2030 to expand at 10.5% CAGR during 2022-2030.

Key players operating in the Europe logistics automation market are BEUMER Group GmbH & co KG, Daifuku Co Ltd, Dematic Corp, Honeywell Intonational Inc, KNAPP AG, Mecalux SA, Swisslog Holding AG, and TGW Logistics Group GmbH, among others.

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