NEW YORK, June 6, 2023 /PRNewswire/ — The global automated material handling equipment market is projected to be worth USD 56,731 million by 2030, growing at a CAGR of 8.9%, according to P&S Intelligence.
This development can be ascribed to the growing requirement for better order processing precision, high supply chain efficiency, and offering the best-possible client service, the booming trend of warehousing, and the rising acceptance of robots for material handling.
E-Commerce Category Is Set To Experience Highest CAGR
In the coming years, the e-commerce category will experience the fastest development, at a CAGR of approximately 9%. This is mainly because of the high requirement for automated storage and retrieval systems, growing count of online vendors, rising fondness for online shopping, and enhancing logistics infrastructure.
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Moreover, developing nations, such as India and China, are playing an important role in the growth of the e-commerce industry with their rising disposable income, which leads to an increase in customer expenditure.
Technological Advancements in Automated Material Handling Solutions
The growing adoption of Industry 4.0 technologies, the internet of things, and factory mechanization makes the integration of robotic equipment easier into systems. This, ultimately, provides opportunities for companies providing automated material handling systems.
Logistics and warehousing businesses are spending more to make these systems more accurate, reliable, and fast, to surge efficiency, lessen assembly line time, and capitalize on more-efficient operations.
For this, progressive products and technologies for the automation of the material handling process, such as cranes, robots, ASRS, WMS, and AGVs, are being procured.
WMS Demand Will Witness Fastest Growth
In the coming few years, the WMS category will experience the fastest progress, at a CAGR of 9.1%. This is mainly because of the growing number of warehouses, increasing focus on improving their efficiency, and rising freight prices.
Other key drivers for this category are the burgeoning e-commerce channels, rising number of cloud-based offerings by businesses, booming requirement for multi-channel supply networks, and expanding supply chain networks worldwide.
APAC Buys Automated Material Handling Equipment Most Extensively
In 2022, APAC dominated the market with an approximately 42% revenue share, and the region is also projected to be dominant in the future. This can be credited to the growing count of manufacturing and warehousing units and the ballooning trend of smart factories.
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Moreover, the rapid urbanization, need for a better material handling performance to advance production abilities, and growing number of local AMH providers drive the market in the region.
Rising Demand for Bulk-Load Material Handling Systems
With the growing pharmaceutical and food & beverage industries, the demand for AMH used to ferry bulk loads is rising fast. This is because these industries often deal with loose ingredients and raw materials, instead of individual boxes and pallets.
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