Automation in material handling facilitates the shifting of commodities from one place to another with little or no human intervention. The technology is relatively newer and is likely to gain traction over the next couple of years. Market Research Future (MRFR) has recently stated in its observation that the global automated material handling market is expected to expand at a healthy pace during the forecast period. The market is also projected to scale a decent valuation by the end of the evaluation period.
The technology helps in reducing human labor; thus, is proven to be cost-effective. It is expected to witness high demand in the years to come. The growth of the manufacturing industry is likely to boost the expansion of the automated material handling market in the foreseeable future. Also, its rising application across industries such as healthcare, automotive, etc. is anticipated to open growth avenues for the market players during the assessment period.
Technological advancements are anticipated to have an important role to play in the growth of the automated material handling market during the evaluation period. In addition, the rising adoption of technologies such as IoT, IIoT, etc. is projected to accelerate the growth rate of the market in the nearby future.
The governments are supporting the adoption of advanced technologies across industrial domains. This, in turn, is expected to catapult the automated material handling market on upward trajectory. In addition, the rising inclination towards the adoption of Industry 4.0 is also prognosticated to favor the growth pattern of the global market over the next few years. However, the cost of installation of these machines is way too high, which can pose a challenge to the participants of the global market.
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By operation, the global automated material handling market has been segmented into packaging & distribution, assembly, waste management, storage & transportation, and others.
On the basis of software and services, the segmental analysis of the automated material handling market is as follows – Software (WMS- Warehouse management system and TMS- Transportation management system), Services- (training, maintenance & repairs, and software upgradation.
The global automated material handling market, based on application, has been segmented into automotive, healthcare, chemicals, aviation, foods & beverages, e-commerce, semiconductors and electronics, and others.
On the basis of automated equipment, the automated material handling market has been segmented into automated storage and retrieval system, automated guided vehicles, automated cranes, conveyors, robotics system, and others.
The global automated material handling market, on the basis of region, has been segmented into four regions – North America, the Middle East & Africa (MEA), Asia Pacific (APAC), and Europe. Asia Pacific is leading the global market on account of rapid industrialization and urban migration. In addition, factors such as low labor cost and favorable regulations have attracted investments by global leaders for setting up manufacturing units in the region. This, in turn, is anticipated to boost the growth pattern of the automated material handling market in the region over the next couple of years. In addition, the expansion of end-user industries is also poised to motivate the expansion of the regional market in the forthcoming years.
Schaefer Holding International (Germany), Dematic (U.S.), Daifuku Co. Ltd (Japan), Murata Machinery (Japan), Vanderlande Industries (U.S.), Mecalux (Spain), BEUMER Group (Germany), Kardex (Switzerland), Swisslog AG (Switzerland), and Intelligrated (U.S.) are some of the major players in the global automated material handling market. The market participants are investing in technological innovations to gain an edge over others. This, in turn, is anticipated to encourage robust competition in the global market place over the next couple of years.
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