The steady growth in the global automated material handling equipment market size is attributed to the increasing deployment of robotic systems in warehouse, the advent of Industry 4.0, and continuous technological advancements focused on the cost reduction and sustainability. The rapidly growing e-commerce sector, surge in automation investments, and favorable government initiatives to support the growth of the industrial sector are expected to boost the global automated material handling equipment market share in the coming years.
Expansion of third-party logistics (3PL) industries is leading to the increased adoption of material handling equipment in warehouses and distribution centers. Companies in the automated material handling equipment market are utilizing the services of 3PLs for efficient supply chain management which is further increasing the global automated material handling equipment market share. Third-party logistics (3PL) provider’s across the globe are upgrading their existing infrastructure to fast delivery of goods, efficient loading and unloading materials from trucks, their storage and easy transportation. Increased productivity through automated tasks, and augmented jobs is playing a crucial role in enhancing the global automated material handling equipment market value. Efficient conveyance of materials from one place to another easy shipping of the product with increased quality is boosting the global market growth.
Companies in the automated material handling equipment market are building a new model to ensure a smooth industrial transformation towards automation that can rely less on a large labor force and efficiently cater to the growing demands with a higher service level, more visibility and metrics capabilities. Therefore, as 3PLs begin to consider the leap toward automation, available capital, current business, and future goals, are likely to be implemented in various levels to maximize ROI which is increasing the automated material handling equipment market value. Introduction of new features in material handling equipment with software functionality and integrated picking technologies is also propelling the market growth. Automation is reshaping the overall warehouse management software (WMS) system, from picking and packing robots, to drone deliveries. These futuristic trends in automation is anticipated to boost competitiveness, and speed up adoption to help companies gain efficiency. Growing incorporation of various robots ranging from robots that work alongside employees to robots that perform tasks for employees is bolstering the market grow the automated martial handling systems market. There is surge in demand for collaborative robots to perform tasks that are difficult, or time-consuming such as lifting heavy objects and speed up the packing process as well as mobile robots to perform more advanced tasks with machine learning capabilities. Furthermore, IoT devices can assist workers with a multitude of useful purposes within a warehouse with sensors that gather data in real time and enable managers to make better decisions. For instance, IoT sensors are used for location tracking of an item, reducing theft and loss by notifying employees and making inventory tracking and management automatic. Temperature and pressure detection sensors alert when equipment is not functioning properly. Drones facilitate moving small items from one side of the warehouse to another and package delivery which is boosting the global automated material handling equipment market growth. Preemptive inventory notifications and automated response to inquiries enhance customer service and give insight into the package shipment processes. The introduction of blockchain technologies provide added security to warehouse and customer communications which is further increasing the market growth.
Based on industry, the market is segmented into automotive, electronics, food & beverages, e-commerce, aerospace, logistics, pharmaceuticals and others. The e-commerce segment held a significant share in the automated material handling equipment market in 2017.
Fives; Jungheinrich AG; Kion Group AG; kuka AG; Daifuku Co., Ltd.; Hyster-Yale Materials Handling, Inc.; BEUMER Group GmbH & Co. KG; Hanwha Corporation; John Bean Technologies Corporation; and Toyota Industries Corporation are a few major companies operating in the automated material handling equipment market.
The bulk load segment held a significant share in the automated material handling equipment market in 2017. Based on component, the market is characterized into hardware, software, and services. The hardware, software, and services segment was valued at a significant share in 2017. Based on function, the market is segmented into storage, transportation, assembly, packaging, distribution, and waste handling. The storage segment held a significant share in the automated material handling equipment market in 2017.
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