Share this article Share this article ResearchAndMarkets.com's offering. The global logistics automation 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 to 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. Based on Function, the warehouse and storage management segment is expected to hold a larger market share during the forecast period The warehouse and storage management segment is projected to account for a larger market share in 2020 to 2026. The rising need to optimize warehouse spaces and distribution centers is fuelling the importance of warehouse and storage management function. An effective warehouse management system ensures the efficient execution of warehousing operations, such as receiving, slotting, picking, and shipping. This system can process large amounts of data and coordinate movements within the warehouse, which in turn, helps in the efficient management of the supply chain network of a company. Thus, warehouse operating companies are adopting warehouse and storage management solutions to manage inventory by streamlining storage and distribution operations.