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Technological innovations around the world are increasingly being deployed in nearly every sector, including the food and beverage industry. Technological innovations such as material handling automation and advanced order picking technologies are being used to assist companies compete in the food and beverage industry. In addition, due to the rising demand for packed and canned foods, owing to the busy lifestyles, the industry demand for automation in packaging and transportation is further strengthening the market for logistics automation. The most popular hardware components deployed in the food and beverage industry are automated storage and retrieval systems (AS/RS), and order picking systems, coupled with software like voice commands by artificial intelligence (AI) to boost productivity. Furthermore, with the outburst of the coronavirus pandemic, the worldwide demand for consumables that are free from human intervention are propelling the industry growth for logistics automation. Additionally, in the presence of e-commerce websites like Amazon, automation in logistics is required to keep track of the inventory level, reduce costs, and boost productivity, thus aiding the industry growth.
Magaya Corporation, a global leader of logistics and supply chain software, recently announced that the company has acquired Qwyk, an industry-leading, cloud-based digital freight forwarder platform, and SimpliShip, a freight marketplace platform, in September 2021. The double acquisition is aimed at providing an optimising customer experience for multimodal freight, providing access to live data through an easy-to-use customer portal. The Qwyk platform provides a customisable, white-label, customer-facing portal with an interactive user interface to enhance the user experience. Hence, with technological integrations, the market demand for logistics automation is anticipated to be deployed in various end-use industries in the coming years. Thus, the market demand is expected to be augmented by such expansions over the forecast period.
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The major players in the global logistics automation market are Kion Group AG, Daifuku Co., Ltd., KNAPP AG, Honeywell International Inc, and The Beumer Group GmbH & Co. KG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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