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IDC research suggests that there will be more than 50 billion Internet-connected devices by 2025: 14 billion non-IoT devices and another 41 billion connected IoT devices. In addition to that, enterprises are relying on Internet-connected services more than ever; 80% of new revenue will come from digital services by next year, and those digital services will be delivered over complex cloud environments.
Logistics Automation Market projected to reach $88.9 billion by 2026, with a remarkable CAGR of 10.6%
iCrowd Newswire
According to a new market research report Logistics Automation Market by Component, Function (Warehouse and Storage Management, Transportation Management), Organization Size (SMES, Large Enterprises), Vertical (3PL, Retail and Ecommerce, FMCG, Manufacturing), and Region - Global Forecast to 2026″, published by MarketsandMarkets, the market size is projected to grow from USD 48.4 billion in 2020 to USD 88.9 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.6% during the forecast period. The logistics automation market is gaining traction due digital transformation in the logistics industry, emergence of IoT, exponential growth in the eCommerce industry, advancements in robotics, and growing need to ensure workforce safety.
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In this report, the market has been segmented based on type, application, industry, navigation technology, battery type and geography.
The report provides an overview of the global market for AGVs and analyzes market trends. Using 2019 as the base year, the report provides estimated market data for the forecast period from 2020 through 2025. Revenue forecasts for this period are based on type, application, industry and geography. Market values have been estimated based on the total revenues of the AGV manufacturers.
The report covers the market for AGVs with regards to their applications and types across different regions. It also focuses on the major trends and challenges that affect the market and the vendor landscape.