Market Overview
The technological world is developing day by day with the
innovative feature, the automation process in various fields is valued
everywhere. 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.
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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.
During the assessment period, the Automated Material
Handling Market Forecast is expected to reach a healthy CAGR of 11%,
worth USD 76.8 Billion by 2027.
Market Segmentation
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.
Regional Analysis
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.
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Industry News
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.
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