November 4, 2021, 09:00 ET | Source: Meticulous Market Research Pvt. Co., Ltd.'s meticulous market research Pvt. Limited company
Redding, California, November 4, 2021 (GLOBE NEWSWIRE) - According to a report titled "By Type (ASRS, AGV and Robotic Systems), Components, Functions, End Use Industries (Automotive, Healthcare, Food and Beverage) , Semiconductors, manufacturing, retail, warehousing, logistics, aviation and post)-global forecast to 2028", released by Meticulous Research®, the automated material handling system (AMHS) market is expected to reach 5.76 billion US dollars during the forecast period ( The compound annual growth rate of 2021-2028) was 6.6%.
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Automated material handling systems can increase productivity, automate tasks, increase jobs, and create new jobs. By eliminating the need for labor, it ensures that materials are efficiently transported from one place in the manufacturing area or warehouse to another. It also helps to produce and ship products to customers faster, cheaper, and of higher quality.
The steady growth of the automated material handling system market is mainly attributable to the increasing deployment of warehouse automation robot systems, the emergence of Industry 4.0, the continuous advancement of technology, and the company's increasing focus on cost reduction and sustainability. Although the impact of COVID-19 may hinder the growth of this market, the fast-growing e-commerce sector, the willingness of companies to increase investment in automation, and the government's favorable measures to support the growth of the industrial sector are expected to drive the growth of automated material handling systems in the next few years market.
According to the type, the automated material handling system market is divided into automatic storage and retrieval systems, vehicle systems, conveyor and sorting systems, palletizing and depalletizing systems, and robotic systems. In 2021, the robotic system will account for the largest share of the entire automated material handling system market. The majority of the market segment is mainly attributable to the increasing integration of various modern technologies in automated material handling equipment, the widespread deployment of robotic systems in the Asia-Pacific region, and the continuous advancement of robotics technology. In addition, the high deployment rate of robotic systems in various industries (including automotive and manufacturing), the emergence of Industry 4.0, and the growing demand for high-level production automation have further promoted the growth of this market segment. However, during the forecast period, the automotive systems sector is expected to grow at the highest compound annual growth rate of 11.8%. The boom in the adoption of AGVs, the increasing demand for safety, accuracy and productivity, the accelerating industrial growth of emerging economies, and the growth trend that is conducive to flexible navigation are the main driving forces of this market segment.
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According to the components, the automated material handling system market is divided into hardware, software, and services. In 2021, the hardware part will account for the largest share of the entire automated material handling system market. The majority of this market segment's share is mainly attributable to the continuous advancement of upcoming technologies such as artificial intelligence and the Internet of Things, the easy integration of these technologies with automated material handling equipment, and the growing demand for sensors and reliable performance controllers. In addition, increasing R&D investment in hardware enhancements is driving the growth of this market segment. However, the software sector is expected to grow at the highest compound annual growth rate during the forecast period. The growing strategic development among automation suppliers and the rapid development of software products are the key drivers of this market segment.
According to functions, the automated material handling system market is divided into assembly, picking, sorting, packaging, transportation, receiving and storage. In 2021, the picking segment will account for the largest share of the entire automated material handling system market. This segment is also expected to record the highest compound annual growth rate during the forecast period. The huge share of this market segment can be attributed to the increasing deployment of picking systems in multiple industries, high system adoption, increasing demand for automated order fulfillment processes, increasing demand for high-precision systems, and demand for automated orders The demand for fulfillment processes continues to increase.
According to the end-use industry, the automated material handling system market is segmented into automotive, semiconductor and electronics, general manufacturing, retail and warehousing/logistics, aviation, chemicals, rubber and plastics, healthcare and pharmaceuticals, food and beverages, postal and parcels, etc. In 2021, the automotive industry will have the largest share of the entire automated material handling system market. The majority of the market segment's share is mainly attributable to the increasing demand to speed up the loading and unloading of automotive products, the increasing focus on reshaping the next generation of automotive factories, and the development of automation technology and robotics. However, during the forecast period, the healthcare and pharmaceutical industries are expected to grow at the highest compound annual growth rate. The rapid transformation of the healthcare industry, the increase in government and private investment, and the increasing demand to meet government regulations are the main driving forces of this market segment.
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Based on geographic location, the global automated material handling system market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2021, Europe will account for the largest share of the global automated material handling system market. A large share of the European region is attributed to the existence of the world's leading suppliers of automated material handling equipment, the company's increasing investment in automation, the existence of large automotive bases, and the region's high dependence on advanced technology. In addition, increased investment in robotics research and development, easy availability of skilled labor, and high deployment rates of these systems are expected to further promote the growth of this market. However, due to increased investment in a number of innovative technologies, increasing technology adoption rates, rapid improvements in manufacturing and warehousing infrastructure, high adoption of robotics, and the presence of major players, the Asia-Pacific region is expected to record the highest number during the forecast period. The compound annual growth rate is in this region.
The global automated material handling system market is highly fragmented in nature and includes several small companies, start-ups and international players. These companies are adopting different strategies to stay competitive and gain greater market share. At present, developing new products and services is one of the most favored strategies of operators in the automated material handling system market. However, strategic partnerships, collaborations and agreements are some of the other growth strategies adopted by leading companies in this market. Most partnerships and collaborations aim to expand the product portfolio, improve the technical capabilities of existing products, and develop capabilities to meet the changing needs of users.
Some well-known companies operating in the global automated material handling system market include Daifuku Co., Ltd. (Japan), SSI SCHAEFER Group (Germany), Dematic (USA), Honeywell Intelligrated (USA), Toyota Industries Corporation (Japan), Murata Machinery, Ltd. (Japan), KNAPP AG (Austria), BEUMER Group GmbH (Germany), Swisslog Holding AG (Switzerland), Material Handling Systems (USA), TGW Logistics Group (Austria), WITRON Logistik Informatik GmbH (Germany)) , Kardex Holding AG (Switzerland), Elettric80 SpA (Italy), System Logistics SpA (Italy), DMW&H (USA), viastore SYSTEMS GmbH (Germany), LÖDIGE Industries GmbH (Germany), Stöcklin Logistik AG (Switzerland) and Jungheinrich AG ( Germany) etc.
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Automatic material handling system market, by type
Automated material handling system market, by component
Automated material handling system market, by function
Automated material handling system market, by end-use industry
Automated material handling system market, by geographic location
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