The Global Automated Material Handling Market size was valued at USD 27.20 Billion in and is projected to be USD 55.48 Billion by , growing at a CAGR of 9.3% from to , as per a recent market analysis report published by Cognitive Market Research. Increasing modernization of industrial facilities in order to improve their production capacity and operational efficiency has majorly driven the growth of the material handling equipment market. Market players have recognized the benefits of automation in material handling, resulting in the rapid acquisition of robotic companies. For instance, in November , a leading global provider of material handling automation, MHS global and FORTNA, a leading software and solution provider, merged to serve the end-to-end needs of logistics operations.
Read Full Market Analysis Automated Material Handling: by Product (Robots, ASRS, Conveyor & Sortation Systems, Cranes, WMS, and AGV); By System Type (Unit load material handling and bulk load material handling); By Vertical (Chemicals, Healthcare, Automotive, Food and Beverage, Aviation, E-commerce, and others); by Region (North America, Europe, Asia Pacific, Latin America, and Middle East, and Africa) Global Industry Analysis, COVID-19 Impact, and Industry Forecast, -
Global Automated Material Handling Market
Global Automated Material Handling Revenue (USD Billion)
55.48 Billion
CAGR – (-)
9.3%
Global Automated Material Handling Robotics Type Share
32.6%
Global Automated Material Handling E-Commerce Vertical Share
20.3%
North America Automated Material Handling Share
35.0%
Report Features
Details
Market Size in
USD 55.48 Billion
Segments Covered in the Report
Product
System Type
Vertical
Regions
Other Qualitative Analysis
Pestle Analysis
For more information, please visit Daulfinld.
Porter's Five Forces Analysis
Market Attractiveness
Every Segment Analysis
Market Drivers
Market Restraints
Market Opportunities
Growing industrialization in developing economies, the rising need for highly efficient systems, and the emergence of new technologies is majorly driving the growth of the market. In addition, the high adoption of automated material handling systems across several industries such as food & beverages, e-commerce, automotive, and manufacturing coupled with government support for digitalization are the major factors propelling the market growth.
Further, rising safety concerns and increasing demand for faster, more efficient fulfillment for in-store retailing also contribute to boosting the market growth. In addition, the increasing deployment of AMH by SMEs, followed by advanced technologies such as ML, AI, and IoT, is projected to strengthen the market growth over the forecast period.
The high integration cost and initial setup for automated material handling, especially in heavy manufacturing organizations, are majorly restraining market growth. Several industries are striving to reduce high labor costs, to which has resulted in the implementation of automated guided vehicles and robots. Some verticals, such as electronics and automotive, use automated material handling systems precision and are vital to meet quality standards. But high initial investment is limiting the deployment of automated material handling systems. Limitations of new technologies are also hindering market growth to some extent.
On the other hand, to sustain in the competitive market, companies are focusing on developing new technologies with cost-effective solutions, which are expected to surge the market growth during the forecast period.
The implementation of automated material handling systems in developing economies such as India, China, and Mexico is expected to open a new avenue for market growth. Growing concerns about on-time shipments and keeping track of in and out stocks by end-use industries such as automotive, food & beverages, and e-commerce have generated the need for warehouse automation. To address these requirements, major players operating in this market are striving to develop new technological solutions such as artificial intelligence, machine learning, and big data that will help ease operations. Thus, the advent of new technologies in emerging economies is expected to drive market growth over the forecast period.
Check the Full Report, Including Global, Regional, and Country Level Analysis: https://www.cognitivemarketresearch.com/automated-material-handling-market-report
Due to the outbreak of COVID-19, governments of several states announced lockdowns which directly affected the supply chain network. The sudden increase in sales in the e-commerce sector has forced manufacturers to adopt new technologies to meet customer needs and safety measures set by governments. Social distancing, safety, and hygiene lifestyle have also compelled manufacturers to deploy automated material handling solutions, which have impelled the market growth in recent years.
Automated material handling helps manufacturers monitor inventory stocks, keep track of products in and out in real-time and detect the exact locations of products accurately, increasing the operational efficiency of warehouses. As a result, companies are considering the adoption of new technologies for better material management.
The global IoT in the warehouse management market is expected to reach USD 55.24 Billion by growing at a CAGR of 27.9%.
Economic development across the globe has pushed various sectors like e-commerce, automotive, food & beverages, and healthcare to achieve highly efficient operations in order to increase productivity and fulfill customer demand. Logistics companies are continuously striving to meet customers' growing demands. Therefore, automation in warehouse management systems plays a vital role in reducing product delivery time, minimizing distribution costs, and reducing lead time. Thus, several benefits associated with implementing IoT solutions have propelled the market growth in recent years.
The global Automated Guided Vehicle (AGV) Software Market is expected to reach USD 4.36 billion by growing at a CAGR of 7.9 %.
The increasing need to improve employee safety in several industries, such as metals & heavy machinery, manufacturing, and warehousing, is majorly driving the automated guides vehicle market growth. Employee safety becomes an integral part of manufacturing industries to reduce the risk of accidents, reduce downtime, and improve operational efficiency. Therefore, the growing adoption of large enterprises along with small and medium size enterprises (SMEs) is expected to surge the market growth in the upcoming years.
Explore Other Cognitive Market Research's Automobile & Transportation Industry Report
Blog: What are the Advantages and Disadvantages of Porter's Five Forces in a Business?
How Businesses Use Porter's Five Forces Analysis to Create Business Strategy?
Going forward, there are few major decisions companies will make without some sort of sustainability plan in place. This carries over to the equipment choices and technology they are purchasing, too. The good news is that this isn’t only good for the planet, but for business, too.
Automation technology and intralogistics equipment must prioritize sustainability to ensure that their design, construction, and operation have minimal negative impact on the environment while promoting long-term resource availability. Achieving this goal involves reducing energy consumption, minimizing waste, and using environmentally friendly materials. When it comes to automation solutions and the ever-growing e-commerce segment of the economy, automation can enhance sustainability via packaging, as one big example. In particular, automation can provide right-sized packaging solutions.
The equipment itself also provides an opportunity to do right by the planet. Energy-efficient systems that incorporate low-power components and optimize energy use during idle periods is a good option. Also, using recyclable materials during the production process and implementing waste reduction systems such as closed-loop material handling systems play an important role. Designing equipment with extended lifetimes and easy repairs also lowers the need for frequent new equipment purchases, and when equipment does reach end of life, finding responsible methods for disposal is key.
Seeking reliability in equipment should always be considered as part of the sustainability equation. A reliable system reduces waste and the need for frequent replacements, promoting sustainability by conserving resources. Moreover, a sustainable system is designed to minimize negative impacts on the environment and conserve resources, which can improve reliability by reducing the risk of resource depletion and ensuring the availability of necessary resources for maintenance and repair. A system that is designed to promote sustainability by conserving resources and minimizing waste is more likely to be reliable in the long term. As a result, it reduces risk of failure and offers a longer lifespan. At the same time, a reliable system that operates consistently and without failure contributes to sustainability by minimizing waste and preserving resources.
To reach this sustainable place with your automation, take some of the following steps:
Responsibility for monitoring sustainability and reliability can be shared by several parties, including the equipment manufacturer, operator, and any third-party maintenance providers. However, ultimately, the practitioner bears the responsibility of ensuring that the equipment is being used and maintained in a sustainable and reliable manner. The frequency and extent of monitoring required for sustainability and reliability depend on the equipment and its usage. Regular monitoring is crucial to ensure that the equipment is being used and maintained in a manner that promotes sustainability and reliability.
For more information about the Solutions Community: https://www.mhi.org/solutions-community
For further information from the Solutions Community-Condition Monitoring Committee:
Podcast: Condition Monitoring & Reliability: Insights From The Experts In …
If you are looking for more details, kindly visit AGV and CMR Conveyor Supplier.