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Automated Material Handling Systems Market to be Worth $70.1 Billion by 2030
According to a new market 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,’ the automated material handling systems market is expected to reach $70.1 billion by 2030, at a CAGR of 8.3% from 2023 to 2030.Automated material handling systems (AMHS) are crucial in optimizing supply chain management by integrating robotics and automation into production lifecycles. These systems enable businesses to enhance efficiency, safety, and overall productivity. Industries across different sectors are actively exploring ways to remain competitive, accelerate production, and enhance product quality. The deployment of AMHS offers numerous benefits, including reduced downtime, increased productivity, and enhanced accuracy. These systems are used by diverse end-user sectors seeking to improve operational efficiency and effectiveness.
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The automation industry has long been considered one of the largest contributors to global technological developments, and it is expected to continue its steady growth in the coming years. The study mainly focuses on the different types of automated material handling systems deployed for automation purposes.
The growth of the AMHS market is driven by the increasing focus on improving floor space utilization and order processing capabilities and the rising demand for warehouse automation. Implementing AMHS can increase operational efficiency, reduce costs, improve accuracy, and provide a safer work environment. These benefits contribute to a more streamlined and responsive supply chain, enabling organizations to meet customer demands better and stay competitive in a dynamic business landscape.
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 AHMS market.
The AHMS market is segmented by type (automated storage & retrieval systems {unit load AS/RS, [fixed-aisle and movable-aisle], mini-load ASRS, multi-shuttle load, vertical lift modules (VLM), carousels [horizontal carousels and vertical carousels], and micro-load ASRS}, vehicle systems {automated guided vehicles (AGV) [laser-guided vehicles, magnet-guided vehicles, vision-guided vehicles, inductive-guided vehicles, and other guided vehicles] and rail guided vehicles (RGV)}, conveyor & sortation systems {conveyor systems [belt systems, roller systems, pallet systems, overhead systems, and other conveyor systems] and sortation systems}, palletizing & depalletizing systems, and robotic systems), component (hardware, software, and services), function (assembly, picking, sorting, packaging, shipping, receiving, and storing), end-use industry (automotive, electronics & semiconductors, retail & warehousing/logistics, general manufacturing, aviation, chemical, rubber, and plastic, healthcare & pharma, food & beverage, postal & parcel, and other end-use industries), and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.
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Based on type, the global AHMS 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 AHMS market. The large 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.
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 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 and data storage, and processing.
However, the software segment is projected to record the highest CAGR during the forecast period, mainly due to the increasing need for remote monitoring and control, seamless integration, connectivity between different components of automated material handling systems, real-time visibility into inventory levels, automated workflows, and efficient utilization of resources. Also, the increasing need to manage and schedule tasks, including picking, sorting, packing, storage, retrieval, and transportation, ensure consistent and efficient execution of operations, reduce manual errors, and enforce compliance with operational guidelines drives the segment’s growth.
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Based on function, the global AHMS 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 & pack items, enable faster order processing & shipping, optimize the picking process, and maximize overall throughput in warehouse and distribution center operations.
Moreover, the picking segment is also projected to record the highest CAGR during the forecast period.
Based on end-use industry, the global AHMS market is segmented into automotive, electronics & semiconductor, 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 AHMS 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 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.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/automated-material-handling-systems-market-5149?utm_source=article&utm_medium=social&utm_campaign=product&utm_content=30-10-2023
Based on geography, the global AHMS 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 AHMS 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 rapidly transforming manufacturing and warehousing infrastructure, increasing investments in several innovative technologies, consistent technological advancements, increasing emphasis on robotics & automation, and growing e-commerce sector.
The report also includes an extensive assessment of the key growth strategies adopted by the leading market participants in the last three to four years. 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=30-10-2023
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