Q2 US warehouse vacancy rate at 6.2%, rising wages drive demand for automation in the industry.
The Q2 ITS Logistics US Distribution and Fulfillment Index reveals a 6.2% vacancy rate in US warehouses, up from 5.7% in Q1, alongside rising warehouse wages driving the demand for technology and automation. The warehouse automation market is expected to reach $71.01bn by 2032, growing at a 15.91% CAGR from 2023-2032. The National Industrial Real Estate Vacancy Rate and warehouse wages indicate a need for more automation in the industry to reduce labor costs and compete for talent in specific regions due to inflationary pressures.
June 17, 2024
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