Automated Material Handling Market Overview
In the present scenario, the Automated Material Handling Market has estimated USD 43.6 Billion to grow its market size in 2021. Automated Material Handling Market has expected to reach 8.50% CAGR and meet the growth of USD 67.2 Billion in the forecast period of 2022 to 2030. The popularity of the Global Automated Material Handling Market is increasing due to various growth factors. The requirement of material handling and automation technique has developed in various fields. Material handling is considered a network that dispenses with the movement of the product from one region to another. It is a time-saving process that involves advanced technologies and types of machinery. The rise in technological advancement, efficiency, and productivity in operating companies significantly enhance the market. Even the rise in the digitization of supply chain processes and order customization generates more opportunities for the Automated Material Handling Market.
The COVID-19 outbreak has affected various markets and sectors, and the Automated Material Handling Market has even faced many problems during the lockdown period. The operation process was delayed, and the manufacturing units were shut down. The market witnessed a sudden drop, which has increased the concern for the market. The prominent players planned various marketing strategies to fight back and compete at the global level. They started working on the declining factors and issues like marketing challenges and restraints. This made the growth of the market get back to a stable form. The increase in concern for material handling equipment in various sectors is driving the market. Now the market is making itself ready to face any challenges. The currently adapting increased need for advanced technology will help the market grow potentially.
Every market is segmented into different forms and types. Likewise, the Automated Material Handling Market is segmented into operation, application, software and services, and automated equipment. Based on various operations, the market is categorized into various operations such as assembly, waste management, packaging and distribution, storage, and transportation. The different functions and features are rising the demand of the market. The application segment of the market is classified into various sectors such as healthcare, chemicals, automotive, foods and beverages, aviation, electronics, e-commerce, semiconductors, etc. In the software and service segment, the market is divided into the warehouse management system (WMS), Transportation management system (TMS), Maintenance and repairs, training, and software up-gradation. The automated equipment has an automated storage and retrieval system, a robotics system, conveyors, automated guided vehicles, and cranes.
The regional data of the Automated Material Handling Market states that the market’s growth is forecasted in various regions such as North America, Europe, Asia Pacific, and the Middle East, and Africa. The Asia Pacific region is showing its dominating nature in the market out of other continents. The other regions are even showing significant growth at the global level to help the market reach its expected CAGR during the forecast period.
According to the recent update, the automated material handling systems market will reach $57.6 billion by 2028.
The Automated Material Handling Market Forecast is to observe a disruption due to the COVID 19 pandemic effect.
The major market players operating in the global market as acknowledged by MRFR are Daifuku Co. Ltd (Japan), Schaefer Holding International (Germany), Murata Machinery (Japan), Dematic (U.S.), Mecalux (Spain), Vanderlande Industries (U.S.), Swisslog AG (Switzerland), BEUMER Group (Germany), Kardex (Switzerland), Intelligrated (U.S.), among others.
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