Automated material handling systems negate the need for human intervention in different industrial tasks. They are convenient and easy to operate, making an ideal spot across different industrial verticals and manufacturing units. Most of the manufacturers are replacing their existing systems of material handling to the automated systems to save the time and the cost associated with the same. According to the researchers, the global automated material handling market is expected to witness steady growth during the next few years. Rising awareness from around the world and advancing technologies are expected to influence the growth of this market during the next few years to come.
Segmentation in the AMH Market
Researchers segment the global market on the basis of the types of operations, applications and geographic regions. the types of operations in the material handling market are categorized further into packaging, assembly, storage, distribution, transportation, waste handling and so on. The basic application segments in the market include energy, semiconductor, electronics, chemical, automotive, textile and clothing, paper printing, metal and heavy machinery, healthcare, food and beverages, and such other industries. Major geographic regions in the market include Europe, North America, Asia Pacific and rest of the world. Based on the types of products, the automated material handling market is segmented into AS/RS, AGV, robotic, conveyor and sortation, software, services and automated crane.
Major Drivers and Restraints for the Market
According to the experts, rising rate of adoption from the industries around the world is the major driving factor for the material handling market. Increasing number of manufacturing facilities, reduced cost of manufacturing and improved working and safety conditions are also some of the crucial driving factors for this industry. Rise in the end-users and changing demand patterns for AGV equipped safety systems are also expected to provide growth opportunities to the key players in the industry. According to the experts, the automated material handling market is expected to be restrained by used systems, technical glitches and requirement of high capital expenditure.
However, improved product quality and advancing technologies in the industry are expected to create growth opportunities for the key industry players. As per the latest market research reports, the automated material handling market is expected to grow at a steady CAGR of over 8% from 2015 to 2020. At the estimated growth rate, the market is anticipated to become worth $30,942.72 million by the end of the year 2020. During the forecasting period, AGV systems are expected to dominate the global industry in terms of the products segment. Based on geographic regions, the industry is expected to be driven by North America. Asia Pacific region is expected to the fastest growing region by 2020.
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