The Global Intralogistics Market Is Likely To Be Valued At US$ 98.18 Billion In FY 2022
SEOUL, SOUTH KOREA, May 27, 2022 /EINPresswire.com/ — As per a recent report published by Fact.MR, the global Intralogistics market is poised to grow at a CAGR of 15.5% from 2022 to 2032. During the said forecast period, the industry is likely to capture a valuation of nearly 98.18 billion in 2022, expected to close at a valuation of US$ 415 Billion.
Demand for intralogistics is projected to increase markedly with cutting-edge technologies such as IIOT (Industrial Internet of Things) and 5G adoption by manufacturing industries to boost productivity, thereby improving the use of technology, labor, and equipment harmoniously.
From 2015 to 2021, the market for Intralogistics Hardware grew at a CAGR of 14.3%, closing at a value of US$ 85 Billion. As of 2022, the industry is likely to reach US$ 98.18 Billion. Prospects heightened owing to superior demand for increased productivity & efficiency across industries, globally. Companies are investing heavily in warehouse management software to craft a shrewd supply chain. This software ensures on-time delivery capability, thereby providing a competitive edge to companies.
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Key Takeaways from the Market Study
Global intralogistics market to flourish 2.2x from 2022-2032
Intralogistics software to be a top-selling category, flourishing at a 15.5% CAGR until 2032
By end-use, intralogistics for the food & beverage industry to expand at a CAGR of 16%
S to emerge as the dominant Intralogistics market, documenting a 13.6% CAGR
China to be the 2nd most opportunistic market, expected to be valued at US$ 275 Billion in 2032
“Earmarked acquisitions and mergers are prime bellwethers of growth in the market,” comments a Fact.MR analyst.
The global market for Intralogistics is characterized by the presence of multiple vendors, aiming to offer extensive consulting and integration services to clients. Additionally, enterprises are seeking out, specialized service providers, offering solutions tailor-made to suit their business objectives. In addition, the vendors are likely to leverage up-gradation and product differentiation to gain an edge over other competitors in the market.
In October 2020, Interrol launched the new high-performance Crossbelt Sorter MX 025H, possessing the capability of handling up to 20,000 conveyed goods per hour
In July 2019, Cimcorp, a subsidiary of Murata Machinery, partnered with Conveyor Networks Ltd. to target the U.K. distribution market. This partnership has assisted in driving sales and improving support for Cimcorp’s robotic solutions in the United Kingdom.
In September 2019, in response to growing demand in the Vietnamese market, Daifuku Intralogistics Vietnam is managing local sales, installation, and aftersales services of material handling systems for the manufacturing and distribution sectors, through its newly established Vietnamese subsidiary.
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Key Segments Covered in the Intralogistics Industry Survey
Intralogistics Market by Component :
Automated Storage and Retrieval Systems (AS/RS)
Automated Guided Vehicles (AGVs)
Vertical Lift Modules (VLMs)
Intralogistics Market by End Use :
Food & Beverages
Retail & e-Commerce
Other End Uses
Intralogistics Market by Region :
South Asia & Oceania
The Middle East & Africa
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global Intralogistics market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-to 2032.
The study reveals essential insights based on component (intralogistics hardware, software, services) by end-use (logistics, food & beverages, retail & e-commerce, airports, automotive, chemicals, industrial manufacturing, others) & across six major regions (North America, Latin America, East Asia, South Asia & Oceania, Europe, and Middle East & Africa).
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Key Drivers Stimulating Intralogistics Industry Expansion
The Benefits of Using Automated Storage and Retrieval Systems in Manufacturing Processes
Automated storage and retrieval systems, formerly known as ASRS, are distinct computer-controlled systems that can automatically place and retrieve loads from desired storage locations with accuracy, speed, and precision.
ASRS provides several benefits when deployed in a manufacturing facility. To start with, these systems increase overall throughput and accuracy levels to 99.9%. Also, ASRS saves 85% of uncovered floor space and increases overall labor productivity to nearly 80%. They also provide real-time inventory control benefits.
Also, heavy migration of user-generated data is now moving to the cloud, which is further bolstering the use of ASRS. Further, automated storage and retrieval systems are used in a myriad of industries such as automotive, F&B, hazmat, e-Commerce, and pharmaceuticals, to name a few. As such, the aforesaid factors posit immense benefits of ASRS used in intralogistics.
Efficient Deployment of IIoT Will Augment the Market Utility
The Industrial Internet of Things is in the midst of swift deployment of advanced technology in industrial processes. IIoT is ravaging manufacturing sectors and reshaping modern manufacturing processes. This, in turn, is bound to restructure almost every aspect of manufacturing, from how products are researched, designed, fabricated, produced, distributed, and consumed to how manufacturing supply chains integrate and factory floors operate.
Furthermore, IIoT also vouchsafes consumers with cognitive computing. For example, Jungheinrich AG has completed its single largest project in its history. IKEA Russia has mobilized Jungheinrich to provide complete logistics solutions from a single source for its distribution center in Russia.
This includes a 15-aisle high-bay warehouse with 210,000 pallet spaces. Therefore, the deployment of high-end technology under the cutting-edge industrial Internet of Things revolution is poised to unclutter novel paths for the growth of the market.
Automated Guided Vehicles Likely to Shape the Future of Intralogistics
An automated guided vehicle is a moveable robot that trails along wires or long earmarked lines placed on the floor. AGVs also use radio waves, lasers, magnets, and vision cameras for navigating their route. These AGVs are most often used in industrial manufacturing applications where heavy materials are required to be shifted to and fro in a facility. AGVs can also be altered according to plant layout and structure, thereby achieving high levels of autonomous working and reduced need for manual labor.
For instance, Krones AG emphasizes innovation and developing cutting-edge technology. The strategic approach of new product development and launching new products such as SHARK, which is a decisive AGV with cost-effective and robust operation capability for complex scenarios, sets the path for AGV manufacturers to think out of the box and innovate. The incorporation of advanced technologies such as machine learning and AI is already advanced AGVs is further boosting their capabilities and catalyzing market expansion.
E-Commerce Industry Ushers in a Positive Impact on the Intralogistics Market
E-Commerce is a niche industry where the full potential of intralogistics solutions emanates. E-Commerce platforms require swift coordination between internal employees, otherwise, a product might get delivered at the wrong place to the wrong person.
The e-Commerce industry has been long witnessing seasonal peaks, thereby offerings products to customers at lowered prices. These sales include Black Friday sales, Christmas Day, and Big Billion Days. Such events garner immense demand from consumers, and providers need to ensure the smooth working of their intralogistics systems.
E-Commerce purchase has now been integrated with return orders and has posited a bidirectional flow of orders. Consumers of today keep one thing in mind upon purchasing an item – a return policy. This brings an additional layer of intricacy from the consumer’s end, which intralogistics handles efficiently and smoothly.
Companies are making headwinds with their shorter delivery period offers, but in actuality, the process is yet to reach its full efficiency. The availability of intralogistics solutions helps e-Commerce companies ensure shorter and timely delivery of a product. Furthermore, the recent use of drones by Amazon Inc. to deliver products is increasing the need to deploy proficient and suave intralogistics solutions across organizations.
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Article originally published at https://www.einpresswire.com/article/574113895/software-solutions-to-be-most-demanded-segment-of-global-market-for-intralogistics-fact-mr-report