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Automated Material Handling Systems Market to be Worth $70.1 Billion by 2030
Meticulous Research®—a leading global market research company, published a research report titled, ‘Automated Material Handling Systems Market by Type (ASRS, AGV, Robotic Systems), Component, Function (Assembly, Picking, Sorting), End-use Industry (Automotive, Healthcare, Semiconductor, Manufacturing, Retail, Aviation, Postal) - Global Forecast to 2030.’Download Free Research PDF @ https://www.meticulousresearch.com/download-sample-report/cp_id=5149?utm_source=article&utm_medium=social&utm_campaign=product&utm_content=08-02-2024
According to this latest publication from Meticulous Research®, the global automated material handling systems market is projected to reach $70.1 billion by 2030, at a CAGR of 8.3% from 2023 to 2030. The growth of the automated material handling systems market is driven by the growing importance of AMHS across industries, enterprises’ increasing focus on improving floor space utilization and order processing capabilities, and the rising demand for warehouse automation. However, the high initial costs of AMHS deployment restrain the growth of this market. The growing significance of online retail platforms and associated supply chains, the increasing utilization of RFID and barcode technologies, the integration of cloud and IoT technologies in AMHS, and the advent of Industry 4.0 are expected to generate growth opportunities for the players operating in this market. However, the expansion and automation of warehouses without hampering operations and cybersecurity risks are challenges for the growth of this market. Additionally, the increasing adoption of Robots as a Service (RaaS) is a prominent trend in the automated material handling systems market.
The global automated material handling systems market is segmented by type, component, function, and end-use industry. The study also evaluates industry competitors and analyzes the market at the region/country level.
Based on type, the global automated material handling systems market is segmented into automated storage & retrieval systems, vehicle systems, conveyor & sortation systems, palletizing & depalletizing systems, and robotic systems. In 2023, the robotic systems segment is expected to account for the largest share of the global automated material handling systems market. The large market share of this segment is mainly attributed to the growing adoption of automation in manufacturing, increasing use of robotic systems to handle hazardous tasks, improved overall equipment effectiveness (OEE), increased production output, and advancements in robotics technology.
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However, the vehicle systems segment is projected to record the highest CAGR during the forecast period, mainly due to factors such as the increasing adoption of AGVs in various industries, including automotive and manufacturing, the growing need for automated material movement, enhanced production output, faster cycle times, and reduced labor costs, and increasing industrial growth in emerging economies.
Based on component, the global automated material handling systems (AMHS) market is segmented into hardware, software, and services. In 2023, the hardware segment is expected to account for the largest share of the global automated material handling systems market. The segment’s large share is mainly attributed to the increasing demand for industrial hardware components such as programmable logic controllers (PLCs) and sensors, rapid industrialization, and the rising need for robust industrial hardware for networking, data storage, and processing.
Based on function, the global automated material handling systems market is segmented into assembling, picking, sorting, packaging, shipping, receiving, and storing. In 2023, the picking segment is expected to account for the largest share of the global automated material handling systems market. The segment’s large share is mainly attributed to the growing need to ensure accurate inventory tracking, efficient replenishment, and timely reordering to avoid stockouts and backorders, reduce the time taken to pick and pack items, enable faster order processing and shipping, optimize the picking process, and maximize overall throughput in warehouse and distribution center operations.
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Moreover, the picking segment is also projected to record the highest CAGR during the forecast period.
Based on end-use industry, the global automated material handling systems market is segmented into automotive, electronics & semiconductors, general manufacturing, retail & warehousing/logistics, aviation, chemical, rubber, and plastic, healthcare & pharma, food & beverage, postal & parcel, and other end-use industries. In 2023, the automotive segment is expected to account for the largest share of the global automated material handling systems market. The segment’s large share is mainly attributed to automotive companies’ increasing need to optimize material flow, reduce manual labor, improve production efficiency, inventory management, and overall supply chain efficiency, and automate material handling tasks such as conveying, sorting, palletizing, depalletizing, and storage/retrieval for smooth production flow and minimal inventory buildup.
However, the healthcare & pharma segment is projected to record the highest CAGR during the forecast period, mainly due to the industries’ growing need for accurate tracking, tracing, and handling of pharmaceuticals and medical supplies and improving efficiency and safety in processes, including pharmaceutical and medical manufacturing and distribution, and hospital operations.
Based on geography, the global automated material handling systems market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global automated material handling systems market, followed by Europe, North America, Latin America, and the Middle East & Africa. The region is also expected to witness rapid growth during the forecast period. The large market share of Asia-Pacific is mainly attributed to the factors such as the rapidly transforming manufacturing and warehousing infrastructure, increasing investments in several innovative technologies, consistent technological advancements, an increasing emphasis on robotics and automation, and growth in the e-commerce sector are driving the growth of this market.
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Key Players
The key players operating in the automated material handling systems market are SSI SCHÄFER AG (Germany), Murata Machinery, Ltd. (Japan), KNAPP AG (Austria), BEUMER Group GmbH & Co. KG (Germany), Swisslog Holding AG (Switzerland) (A Part of KUKA AG), TGW Logistics Group GmbH (Austria), WITRON Service GmbH & Co. KG (Germany), Kardex Holding AG (Switzerland), E80 GROUP S.P.A. (Italy), System Logistics S.p.A. (Italy) (A Part of Krones AG), DMW&H (U.S.), viastore SYSTEMS GmbH (Germany), Lödige Industries GmbH (Germany), Stöcklin Logistik AG (Switzerland), Jungheinrich AG (Germany), Mobile Industrial Robots A/S (Denmark).
TOP 10 COMPANIES IN AUTOMATED MATERIAL HANDLING SYSTEMS MARKET >> https://meticulousblog.org/top-10-companies-in-automated-material-handling-systems-market/?utm_source=article&utm_medium=social&utm_campaign=product&utm_content=08-02-2024
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