CHICAGO, March 28, 2023 /PRNewswire/ — The Global Automated Material Handling Market size was valued at USD 27.20 Billion in 2022 and is projected to be USD 55.48 Billion by 2030, growing at a CAGR of 9.3% from 2023 to 2030, 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 2022, 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.
Major Findings During the Study of the Automated Material Handling Market:
- Increasing the need for automation in several verticals, such as automotive, e-commerce, and others, to increase operational efficiency, monitor supply chain processes, and reduce labor costs are significant factors driving the automated material handling market growth.
- High initial cost associated with the integration of automated material handling is expected to restrain the market growth to some extent.
- By type, the WMS segment is witnessed to grow with the fastest CAGR during the forecast period. This growth is attributed due to the rapid rise in supply chain networks.
- By system type, the unit load material handling segment is gaining traction due to increasing usage in several industries, such as e-commerce, food & beverage, and automotive.
- By region, the Asia Pacific automated material handling market is projected to grow with the fastest CAGR during the forecast period due to the increasing adoption of new technologies by manufacturing industries for reducing labor costs as well as errors coupled with monitoring data of orders in real-time.
- Latin America and the Middle East & Africa regions are projected to witness significant growth during the anticipated period due to the vast expansion of e-commerce and retail industries.
- Adoption of organic and in-organic business strategies such as product development, product launch, collaboration, and partnerships by key market players are expected to open new avenues for market growth.
Automated Material Handling Industry Statistics 2022:
|
Global Automated Material Handling Market |
2022 |
|
Global Automated Material Handling Revenue (USD Billion) |
55.48 Billion |
|
CAGR – (2023-2030) |
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 Deliverables:
|
Report Features |
Details |
|
Market Size in 2030 |
USD 55.48 Billion |
|
Segments Covered in the Report |
Product System Type Vertical Regions |
|
Other Qualitative Analysis |
Pestle Analysis Porter’s Five Forces Analysis Market Attractiveness Every Segment Analysis Market Drivers Market Restraints Market Opportunities |
What are the Drivers of the Automated Material Handling Market?
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.
What are the Restrains of the Automated Material Handling Market?
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.
What are the Opportunities in the Automated Material Handling Market?
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
Our Free Sample Report Includes:
- 2023 Updated Report Introduction, Overview, and In-depth industry analysis
- Included COVID-19 Impact Analysis
- 250+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on the Request
- Sample Report includes Top Market Players list with their Business Strategy, Sales Volume, Revenue Analysis, and SWOT Analysis
- Free Analysis of One Leading Company with SWOT Analysis and Company Market Share
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Include an Updated List of tables & figures
- Cognitive Market Research Methodology
How did COVID-19 Impact Automated Material Handling Market?
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.
Automated Material Handling Market Report Scope
Automated Material Handling Market – Product Outlook (Revenue, USD Billion, 2018 – 2030)
- Robots
- ASRS
- Conveyor & Sortation Systems
- Cranes
- WMS
- AGV
Automated Material Handling Market – System Type Outlook (Revenue, USD Billion, 2018 – 2030)
- Unit Load Material Handling
- Bulk Load Material Handling
Automated Material Handling Market – Vertical Outlook (Revenue, USD Billion, 2018 – 2030)
- Chemicals
- Healthcare
- Automotive
- Food and Beverage
- Aviation
- E-commerce
- Others
Automated Material Handling Market – Regional Outlook (Revenue, USD Billion, 2018 – 2030)
- North America (U.S., Canada, Mexico)
- Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Luxembourg, Netherlands, Switzerland, Belgium, Rest of Europe)
- Asia Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore Malaysia Thailand Indonesia Rest of APAC)
- Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
- Middle East & Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, and the Rest of MEA)
List Of Key Players in the Automated Material Handling Market:
- Daifuku Co. Ltd
- KION Group
- Kardex Group
- Jungheinrich AG
- JBT Corporation
- Others
Related Reports on the Automated Material Handling Market:
The global IoT in the warehouse management market is expected to reach USD 55.24 Billion by 2030 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 2030 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.
Other Related Reports:
Explore Other Cognitive Market Research’s Automobile & Transportation Industry Report
About Cognitive Market Research
Cognitive Market Research has evolved as one of the leading market research and consulting firms providing services across multiple domains. Our team of researchers gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operating across the value chain. As a market research company, we gather information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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?
How to Contact Us:
Nicolas Shaw
Global Sales Manager
Cognitive Market Research
Phone: USA: (+1) +1 312-376-8303 | Europe and UK: (+44) 20-8144-9523
Asia Pacific: (+852) 81930785 | India: (+91) 983-496-8611
Email: sales@cognitivemarketresearch.com
Web: https://www.cognitivemarketresearch.com
Athenaeum Subscription
Research Methodology
Logo: https://mma.prnewswire.com/media/1989016/Cognitive_Market_Research_Logo.jpg
SOURCE Cognitive Market Research