Clearly, producers are the driving force for making such improvements happen. Taking into account the three goals, they have set up a variety of automated equipment such as cranes, conveyors, elevators, lift and lift truck track cranes, stackers, bridge cranes and monorails, port cranes and helicopter lifts, etc. In this field, technical advances have slowly taken advantage of practical and cost-effective approaches leading to the automation of such equipment. These innovations have unprecedentedly accompanied their market value, making these devices accessible and widely adopted.
Other factors which contribute to market growth include rising automation across manufacturing industries. The ever-growing need for resource utilization and raw material use drives the demand & adoption of Automated Material Handling Equipment. In addition to factors such as continuous technological growth, manufacturing plant modernization, and industrial base expansion in developed countries, automated material handling equipment supplies fuel for business development. Proliferation of the Industrial Internet of Things ( IIoT), powered by new technology initiatives undertaken by manufacturers heading towards Industry 4.0 revolution, has influenced market growth and improved their operations. Extensive analytics will enable industry to experience a tremendous change in the years ahead.
Market Research Future (MRFR) highlights in its latest research report that the global automated material handling market 2020 is projected to rise tremendously over the review period, achieving a significant market valuation and a substantial CAGR over the review period.
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The global automated material handling market share geographic synopsis was analyzed in four major regions, including North America, Europe, Asia Pacific and the rest of the world.
The Asia-Pacific region dominates the Automated Material Handling industry because of the presence of numerous manufacturing plants in the various countries in the region. Most of the APAC nations are in their phase of development and are thus open to foreign investors, thereby enabling the production unit in these countries to be accessible to multidomain international players. The Asia-Pacific area is also expected to expand significantly in Equipment for Power Quality (PQE) space. Furthermore, automated material handling enables material processing and production, particularly in the e-commerce market. This will provide an excellent incentive for the development of the Automated Material Handling APAC market to booming eCommerce and the PQE sector.
In terms of sales and market size, Europe is the second-largest automated material handling market. A resurgent economy combined with the booming regional industrial sector and increased workplace safety concerns, especially in the automotive, food & beverage and metal & heavy industries is likely to drive regional market growth.
On the other hand, North America represents the third-largest market for automated material handling, owing to the presence of several manufacturing facilities, primarily in the U.S. The diffusion and acceptance of advanced technology often boost the market growth.
Segmentation by Operation has been done into storage & transportation, assembly, waste management, Packaging & distribution, among others.
Segmentation by Software & Services comprises Services- (training, Maintenance & Repairs, and software up-gradation), Software (WMS- Warehouse management system, and TMS- Transportation management system).
Segmentation by Application includes healthcare, foods & beverages, automotive, e-commerce, chemicals, semiconductors, aviation, and electronics, among others.
Segmentation by Automated Equipment comprises automated cranes, Automated guided vehicles, robotics systems, conveyors, automated storage and retrieval system, among others.
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.