The global intralogistics market is expected to surge at a compound annual growth rate of 15.5 percent from 2020 to 2030, according to FactMR.com., which would provide more opportunities for automated guided vehicle and autonomous mobile robot suppliers.
The market burgeoned at a spritely rate of 14.3 percent over the last five years owing to transcendent demand for increased productivity and efficiency across industries, globally.
Moreover, commencement of industry 4.0 has comprehensively compelled industry verticals to go digital with their supply chain networks.
Demand for intralogistics is projected to increase markedly with cutting-edge technologies such as Industrial Internet of Things and 5G adoption by manufacturing industries in order to boost productivity, thereby improving the use of technology, labor, and equipment harmoniously.
Furthermore, smart supply chain use of technology is on the rise. Companies are investing heavily in warehouse management software to craft a shrewd supply chain. These software ensure on-time delivery capability, thereby providing a competitive edge to companies.
In addition, Covid-19 exhibited massive opportunity for the manufacturing as well as services industry to go digital with their supply chain operations. The market is poised to consolidate over the coming years with increase in e-Commerce shopping by consumers.
Key takeaways from market study
The global Intralogistics market is anticipated to add 4.2x value to its market by 2030.
The hardware segment is expected to expand at an impressive compound annual growth rate of 15 percent over the forecast period.
Automated guided vehicles are projected to evince sprightly growth of 15.3 percent compound annual growth rate, while industrial robots are projected to add 4.8X value over the forecast period.
East Asia is set to unshackle its manufacturing prowess with a superlative growth of around 29 percent compound annual growth rate, owing to widespread implementation of intralogistic solutions to boost competitiveness in manufacturing clusters.
By industry vertical, the retail & e-Commerce industry is poised to impart courteous opportunity for the intralogistics market by virtue of increasing use of e-Commerce platforms by consumers, and with providers digitizing supply chains to ensure the timely delivery of products to customers.
“Earmarked acquisitions and mergers are prime bellwethers of growth in the market,” says a report analyst.
Targeted acquisitions and mergers by key players
Key players such as Toyota Industries Corporation and Kion Group are hinging their importance on enhancing connectivity, with a wide market outreach through targeted acquisitions to capture substantial market presence.
For instance, in 2019, Toyota Industries and Tompkins Robotics, a leading provider of autonomous mobile robots, signed a strategic partnership with Bastian Solutions. Bastian Solutions is a company that was acquired by Toyota Industries Corporation
Similarly, Kion Group, in 2020, acquired software company Digital Applications International, which has expertise in logistics automation solutions, for its subsidiary Dematic. This move is considered to fuel the group’s growth, considering the significance of automation and the shrewdness of DAI.