The global automated material handling market was estimated to be $28.16 million in the year 2016. It is further estimated to reach $48.26 million by the year 2023. The global automated material handling market is estimated to grow with the CAGR of 8.0% during the period 2016-2023. The major factors that are augmenting the growth of the global automated material handling market are increasing demand for automated solution, increasing focus towards safe working environment, advancement in technology, reduction in labor cost via advancement in robotics etc. However, high capital requirement, high maintenance cost of systems and equipments, real time technical challenges are holding back the growth of the market.
The global automated material handling market is analyzed on the basis of its applications, by product, by operation, by software and services, and by type. On the basis of the application the market is further segmented into aviation, automotive, chemical, e-commerce, healthcare, food and beverages, metal and heavy machinery, semiconductor and electronics and others. Automotive and manufacturing are estimated to account for majority of share of the global automated material handling market, while e-commerce is estimated to be the fastest growing segment during the forecasted period owing to high adoption of automated material handling systems to reduce the delivery time of product and for storing of goods. On the basis of the product, the market is further bifurcated into automated storage and retrieval systems, automated guided vehicles, automated crane, automated conveyor, robotic systems and sortation systems. Robotics systems are estimated to account for the major share in the global market, while automated guided vehicles are estimated to be the fastest growing product of the automated material handling market. On the basis of the operation, the global market is bifurcated into assembly, distribution, packaging, transportation, storage and waste handling etc. Handling and storage are estimated to account for major share of the global automated material handling market, while transportation and packaging are estimated to be the fastest growing segment across the globe. On the basis of the software and services market the global automated material handling market is further segmented into software and services. Software segmented is further bifurcated into ware house management system, ware house execution systems, ware house control systems and labor management systems. Services segment is also divided into maintenance and repair, training and software up gradation etc. Software segment is estimated to be the fastest growing segment during the forecast period. On the basis of the type, the market is further divided into unit load material handling devices and bulk load material handling devices. Unit load material handling devices are estimated to account for major share in the global automated material handling market owing to its wide application in various industry sectors as they are cost effective and can handle several items simultaneously.
Key market players of the global automated material handling equipment and systems across the globe are Daifuku Co Ltd, Hyster-Yale Materials Handling INC., Jungheinrich AG, Kion Group AG, Toyota Industries Corporation, Bastian Solutions LLC, Beumer Group GmbH & Co., Dematic GmbH & Co., JBT Corporation, KUKA AG, Swisslog Holding AG, Mitsubishi Caterpillar Forklift America, Transrobotics etc.