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Automated Material Handling Systems (AMHS) Market Worth $57.6 billion by 2028
, July 27, 2022 ) According to a new market research report titled “Automated Material Handling Systems Market by Type (ASRS, AGV, and Robotic Systems), Component, Function, End-use Industry (Automotive, Healthcare, Food & Beverage, Semiconductor, Manufacturing, Retail, Warehousing, Logistics, Aviation, and Postal) - Global Forecast to 2028”, published by Meticulous Research®, the Automated Material Handling Systems (AMHS) market is expected to reach $57.6 billion, at a CAGR of 6.6% during the forecast period (2021-2028).
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Automated material handling systems increase productivity, automate tasks, augment jobs, and create new ones. It ensures efficient conveyance of materials from one place to another in the manufacturing area or warehouses by eliminating the need for humans. It also helps to produce and ship product to customers faster, cheaper, and with increased quality.
The steady growth of the automated material handling systems market is mainly attributed to the increasing deployment of robotic systems for warehouse automation, the advent of Industry 4.0, continuous technological advancements, and the growing focus of companies on cost reduction and sustainability. Although the impact of COVID-19 may hinder the growth of this market, the rapidly booming e-commerce sector, the companies’ willingness to increase automation investments, and favorable government initiatives to support the growth of the industrial sector are expected to propel the growth of the automated material handling systems market in the coming years.
Based on type, the automated material handling systems market is segmented into automated storage & retrieval systems, vehicle systems, conveyor & sortation systems, palletizing & depalletizing systems, and robotic systems. In 2021, the robotic systems segment accounted for the largest share of the overall automated material handling systems market. The large share of this segment is mainly attributed to the growing incorporation of various modern technologies in automated material handling equipment, wide deployment of robotic systems in the APAC region, and consistent technological advancements in robotics. Besides, the high deployment rate of robotic systems across various industries, including automotive and manufacturing, the advent of industry 4.0, and the growing need for high-level production automation further augment the growth of this segment. However, the vehicle systems segment is projected to grow at the highest CAGR of 11.8% over the forecast period. An upsurge in the adoption of AGVs, the rising need for safety, accuracy, and productivity, increasing industrial growth in emerging economies, and the growing trend favoring flexible navigation are the key drivers for this segment.
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Based on component, the automated material handling systems market is segmented into hardware, software, and services. In 2021, the hardware segment accounted for the largest share of the overall automated material handling systems market. The large share of this segment is mainly attributed to the continuous advancements in upcoming technologies such as AI and IoT, the technologies’ easy integration with automated material handling equipment, the rising demand for sensors and reliable performance controllers. Moreover, the increasing R&D investments in hardware enhancements are driving the growth of this segment. However, the software segment is projected to grow at the highest CAGR over the forecast period. The increasing strategic developments among automation providers and rapid advancements in software products are the key drivers for this segment.
Based on function, the automated material handling systems market is segmented into assembling, picking, sorting, packaging, shipping, receiving, and storing. In 2021, the picking segment accounted for the largest share of the overall automated material handling systems market. This segment is also projected to record the highest CAGR during the forecast period. The segment's large share can be attributed to the picking systems’ increasing deployments across several industries, the systems’ high adoption rate, growing need for automating order fulfilment processes, rising demand for high-accuracy systems, and the rising need to automate order fulfillment processes.
Based on end-use industry, the automated material handling systems market is segmented into automotive, semiconductor & electronics, general manufacturing, retail & warehousing/logistics, aviation, chemicals, rubber, and plastics, healthcare & pharma, food & beverage, postal & parcel, and others. In 2021, the automotive industry segment accounted for the largest share of the overall automated material handling systems market. The large share of this segment is mainly attributed to the increasing need to expedite the loading and unloading of automotive products, the growing focus on reimaging the next-generation automobile plants, and technological developments in automated technology and robotics. However, the healthcare & pharma industry segment is projected to grow at the highest CAGR over the forecast period. The rapid transformation of the healthcare sector, increasing government and private investments, and the rising need to meet government regulations are the key drivers for this segment.
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Based on geography, the global automated material handling systems market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2021, Europe accounted for the largest share of the global automated material handling systems market. The large share of the European region is attributed to the presence of the world’s leading providers of automated material handling equipment, the companies’ increasing investments in automation, the existence of a large automotive base, and high dependence on advanced technologies in this region. Besides, the rising R&D investments in robotics, easy availability of a skilled workforce, and high deployment rates of these systems are expected to further contribute to the growth of this market. However, the APAC region is projected to register the highest CAGR during the forecast period due to increasing investments in several innovative technologies, rising technology adoption, the rapidly improving manufacturing & warehousing infrastructure, the high adoption of robotics, and the growing presence of key players in the region.
The global automated material handling systems market is highly fragmented in nature, comprising several small-level companies, start-ups, and international players. These companies are adopting different strategies to stay competitive and garner greater market share. At present, developing new products and services is one of the most preferred strategies adopted by the players operating in the automated material handling systems market. However, strategic partnerships, collaborations, and agreements are some of the other growth strategies adopted by the leading players in this market. The majority of partnerships and collaborations aim to broaden product portfolios, advance the technological capabilities of existing products, and develop capabilities to cater to the changing demands of users.
Some of the prominent players operating in the global automated material handling systems market are Daifuku Co., Ltd. (Japan), SSI SCHAEFER Group (Germany), Dematic (U.S.), Honeywell Intelligrated (U.S.), Toyota Industries Corporation (Japan), Murata Machinery, Ltd. (Japan), KNAPP AG (Austria), BEUMER Group GmbH (Germany), Swisslog Holding AG (Switzerland), Material Handling Systems (U.S.), TGW Logistics Group (Austria), WITRON Logistik+Informatik GmbH (Germany), Kardex Holding AG (Switzerland), Elettric80 S.p.A. (Italy), System Logistics S.p.A. (Italy), DMW&H (U.S.), viastore SYSTEMS GmbH (Germany), LÖDIGE Industries GmbH (Germany), Stöcklin Logistik AG (Switzerland), and Jungheinrich AG (Germany) among others.
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