At 8.2% CAGR, South & Central America Logistics Automation Market is Projected to be Worth US$ 3,145.58 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the South & Central America logistics automation market was valued at US$ 1,672.51 million in 2022 and is expected to reach US$ 3,145.58 million by 2030, registering a CAGR of 8.2% from 2022 to 2030. Autonomous truck and truck platooning and SMEs implementing supply chain logistics are among the critical factors attributed to the South & Central America logistics automation market expansion.

The importance of autonomous cars in the logistics business has grown in recent years as they have increasingly been deployed in precisely controlled environments such as warehouses and yards. However, deploying autonomous vehicles in shared and public locations, such as highways and city streets, might be the industry's next great step in optimizing logistics operations and increasing safety. The expanding technological developments in AI, as well as the increasing substantial investments in the development of sensors and visual technologies, can assist in self-driving vehicles. Autonomous vehicles and drones are important components of automated logistics systems. Google and Tesla, for example, have made substantial advances in driverless vehicle technologies. Autonomous driving has progressed from science fiction to a very feasible possibility in the last two decades, owing to significant advances in radar technology and computer power. Because portable technology has improved sufficiently to allow ultra-light hardware to make decisions based on self-improving algorithms, engineers have a better chance of mimicking human decision-making in autonomous vehicles.

On the contrary, high cost of implementation of logistics automation hampers the growth of South & Central America logistics automation market.

Based on component, the South & Central America logistics automation market is segmented into hardware, software, and services. The hardware segment held 70.2% share of the South & Central America logistics automation market in 2022, amassing US$ 1,173.43 million. It is projected to garner US$ 2,112.30 million by 2030 to expand at 7.6% CAGR during 2022-2030.

In terms of mode of freight transport, the South & Central America logistics automation market is segmented into land, water, and air. The land segment held 58.7% share of the South & Central America logistics automation market in 2022, amassing US$ 981.51 million. It is estimated to garner US$ 1,780.76 million by 2030 to expand at 7.7% CAGR during 2022-2030.

By application, the South & Central America logistics automation market is bifurcated into warehouse management and transportation management. The warehouse management segment held 86.8% share of South & Central America logistics automation market in 2022, amassing US$ 1,451.28 million. It is predicted to garner US$ 2,694.68 million by 2030 to expand at 8.0% CAGR during 2022-2030.

In terms of end-user industry, the South & Central America 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 20.3% share of the South & Central America logistics automation market in 2022, amassing US$ 339.42 million. It is estimated to garner US$ 705.24 million by 2030 to expand at 9.6% CAGR during 2022-2030.

Based on country, the South & Central America logistics automation market is categorized into Brazil, Argentina, and the Rest of South & Central America. Brazil held 78.0% share of South & Central America logistics automation market in 2022, amassing US$ 1,304.05 million. It is projected to garner US$ 2,389.09 million by 2030 to expand at 7.9% CAGR during 2022-2030.

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

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