Automation in material handling facilitates the shifting of commodities from one place to another with little or no human intervention. The technology is relatively newer and is likely to gain traction over the next couple of years. Market Research Future (MRFR) has recently stated in its observation that the global automated material handling market is expected to expand at a healthy pace during the forecast period. The market is also projected to scale a decent valuation by the end of the evaluation period.
The technology helps in reducing human labor; thus, is proven to be cost-effective. It is expected to witness high demand in the years to come. The growth of the manufacturing industry is likely to boost the expansion of the automated material handling market in the foreseeable future. Also, its rising application across industries such as healthcare, automotive, etc. is anticipated to open growth avenues for the market players during the assessment period.
Technological advancements are anticipated to have an important role to play in the growth of the automated material handling market during the evaluation period. In addition, the rising adoption of technologies such as IoT, IIoT, etc. is projected to accelerate the growth rate of the market in the nearby future.
The governments are supporting the adoption of advanced technologies across industrial domains. This, in turn, is expected to catapult the automated material handling market on upward trajectory. In addition, the rising inclination towards the adoption of Industry 4.0 is also prognosticated to favor the growth pattern of the global market over the next few years. However, the cost of installation of these machines is way too high, which can pose a challenge to the participants of the global market.
Based on the operation, the global automated material handling market share has been divided into assembly, storage & transportation, packaging & distribution, waste management, and others.
Based on the software and services, the segmental analysis of the automated material handling market is bifurcated into Software (WMS- Warehouse management system and TMS- Transportation management system), and Services- (training, maintenance & repairs, and software up-gradation.
The global automated material handling market, on the basis of the application, has been segmented into healthcare, automotive, chemicals, foods & beverages, aviation, semiconductors and electronics, e -commerce, and others.
Based on the automated equipment, the automated material handling market has been segmented into automated guided vehicles, automated storage and retrieval system, automatic cranes, robotics systems conveyors, and others.
The geographical analysis of the global market has been conducted in four major regions, specifically the North America, Asia Pacific, Europe, and the rest of the world (including Latin America and the Middle East and Africa). The Asia Pacific is leading the global market on account of rapid industrialization and urban migration. In addition, factors such as low labor costs and supportive regulations have attracted capital by global leaders for setting up production units in the region. This, in turn, is expected to boost the growth pattern of the automated material handling market over the next couple of years. In addition to these, the expansion of end-user industries is also slated to motivate the development of the regional market in the coming years.
The major market players identified by MRFR in the global market are Schaefer Holding International (Germany), Daifuku Co. Ltd (Japan), Dematic (U.S.), Murata Machinery (Japan), Mecalux (Spain), Vanderlande Industries (U.S.), BEUMER Group (Germany), Swisslog AG (Switzerland), Kardex (Switzerland), Intelligrated (U.S.) among others.
Characterized by the presence of numerous major well-established players, the in-vehicle surveillance video Market appears to be highly competitive. Well established players incorporate collaboration, acquisition, partnership, expansion, and technology launch in order to gain a competitive advantage in this market and to uphold their market position. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period.
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