The North America Logistics Automation Market size is estimated at USD 5.08 billion in 2024, and is expected to reach USD 10.68 billion by 2029, growing at a CAGR of 16.01% during the forecast period (2024-2029).
The Coronavirus pandemic complicated the situation of automation adoption in logistics sector. By bringing in unique challenges of social distancing and contactless operation it has changed the standard operating procedure and organizations were forced to limit workforce, and deal with the increasing demand. COVID-19 over 2020 and continuing has infected a number of essential workers in the United States, leading companies on the front lines to implement new safety processes. While the spread of the virus has been grave enough to warrant shutdowns for instance, food production facilities, multiple other businesses have been able to continue operations with the addition of new health measures.
The market vendors that can fabricate and integrate the required equipment within the approved capital budgets and expected leads times have been continuing to dominate the market. The logistics automation market comprises several global players, vying for attention in a fairly-contested market space.
Technological disruption has been a key factor in sustainable competitive advantage. Also, in order to differentiate amongst offerings, the players have been witnessed moving toward the service capabilities. For instance, Locus considered the training aspect of its technology, and its LocusEmpower solution aids in training and the company claims it would onboard workers in days, rather than months.
Some of the prominent players in the market include Honeywell, Swisslog, Daifuku, Schaefer, among others. The presence of these players and their constant innovative activities are intensifying the market scenario. As the market poses moderate barriers to entry for new players, several new entrants backed by VC's have been able to gain traction in the market. This could further intensify the market competition.
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