The Intralogistics Market was valued at US$ 18.9 billion in 2022 and it is anticipated to grow up to US$ 75.3 billion by 2032, at a CAGR of 14.8% during the forecast period.
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The intralogistics industry pertains to the planning, management, and performance of materials, commodities, and information transit and storage within a facility or warehouse. It encompasses all internal logistics processes that take place within a single organization, which include receiving, warehousing, picking, packaging, and shipping items. Various technologies, including automated material handling systems, conveyors, robots, sensors, and software applications, are used in this process.
The design, development, implementation, and administration of systems and technologies used to optimize and simplify the transportation, storage, and retrieval of commodities and materials is referred to as intralogistics. They assist businesses in improving supply chain management, reducing lead times, increasing order accuracy, and improving customer service.
Market Drivers and Trends
The adoption of industry 4.0 increases the need for portable food safety detectors. The adoption of Business 4.0, also referred to as the fourth industrial revolution, has had a tremendous influence on the intralogistics business by increasing overall supply chain efficiency and productivity. Furthermore, the integration of Industry 4.0 technology has resulted in the creation of smart warehouses that are highly automated and networked. Sensors, RFID tags, and automated storage and retrieval systems (AS/RS) are used in smart warehouses to expedite inventory management, order processing, and fulfillment. For example, in October 2021, Zyter developed a cutting-edge, next-generation smart warehouse for Onscreen in San Diego that is outfitted with Qualcomm Technologies, Inc. products.
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Furthermore, rising adoption of intralogistics systems in e- commerce industry. The development of e-commerce has transformed the retail business, and with it, the need for intralogistics has skyrocketed. As e-commerce grows in prominence, the requirement for effective and optimized intralogistics operations becomes increasingly important. According to a Forbes article released in February 2022, E-Commerce sales in the United States were USD 870 billion in 2021, a 14.2% rise over 2020 and a 50.5% growth over 2019. Furthermore, the rising popularity of online shopping has led to increased order volume, shorter response times, and a greater need for a broader selection of items. As a result, in order to satisfy these demands, the logistics sector needs to change and make investments in new technologies including automation, robots, and artificial intelligence. Dematic, for example, debuted the Multishuttle (DMS) 2 E, the next generation of warehouse automation systems, in March 2020. The system, which is interoperable with all other DMS components, stores, buffers, and sequences products for order selecting and compilation. These drivers are likely to propel market expansion.
Market Restraints and Challenges
Furthermore, The high installation cost of intralogistics systems can be a substantial hurdle to adoption, limiting these systems’ commercial prospects. Intralogistics systems often need substantial expenditures in technology and infrastructure, such as specialized equipment, software, and hardware, as well as installation and maintenance costs. This hefty initial investment can be prohibitive for certain organizations, especially small and medium-sized enterprises (SMEs) with limited means to invest in these systems. Furthermore, the cost of intralogistics systems will be determined by factors such as the operation’s size and complexity, the level of customization required, and the level of automation requested. As a result, some organizations may choose less expensive and fewer effective alternatives, limiting the market’s development and adoption of intralogistics systems. Hence, these factors are expected to restrain growth of the market during the forecast period.
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Intralogistics Market Segmentation
By Component
- Hardware
- Software
- Services
By End-Use
- Logistics
- Food and Beverage
- Retail and E-Commerce
- Automotive
- Chemical
- Others
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