Wilmington, Delaware, United States, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Rise in usage of automated material handling solutions in warehouses and storage facilities in several industry verticals is anticipated to boost automated material handling market size. The global market is projected to expand at a CAGR of 8.3% from 2022 to 2031. Companies in food & beverage, fast-moving consumer goods, and courier, express, and parcel (CEP) industry verticals are making sizable investment in warehouse automation.
Surge in adoption of automated storage and retrieval systems in the automotive, pharmaceutical, and personal care industries has created opportunities for the vendors in the market. Utilization of advanced warehouse management systems and transportation management systems (TMSs) in end-use industries is expected to increase in the next few years.
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Key Findings of Study
- Rise in Utilization of Warehouse Automation Solutions by 3PL Businesses: Third-party logistics (3PL) logistics are leveraging automated material handling systems to meet the requirements of omnichannel order fulfilment and demand for one-day shipping options offered by e-commerce firms to customers. Businesses in fast moving consumer goods, food & beverage, personal care products, and apparel industries are demanding 3PL services for inventory management. This presents lucrative opportunities for vendors.
- Adoption of Cloud-based WMS and TMS Platforms: Usage of automation in sorting systems in warehouses and storage facilities is a key trend creating demand for automated material handling systems. Businesses in end-use industries are shifting to web-based platforms from on premise solution in warehouse management system (WMS) for managing their supply chains, which is likely to broaden the automated material handling market outlook. Cloud-based WMS and TMS solutions have become popular for automated material handling applications, owing to scalability of these solutions (in terms of size and complexity of operations).
- Significant Application of Automated Storage and Retrieval System (ASRS) in Multiple Industries: The automated storage and retrieval system (ASRS) segment is projected to expand at a growth rate of 10.5% during the forecast period. Rapid expansion of the e-commerce industry is anticipated to fuel the growth of the segment. ASRS is gaining traction among several industries to optimize the use of available storage space in warehouses. Key benefits of ASRS are reduction in labor cost, increase in accuracy in order picking, improved worker safety, and better inventory storage density.
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Key Drivers
- Increase in usage of automated material handling systems and equipment in the food & beverage, fast-moving consumer goods, retail industries for warehouse automation is a key driver of the global automated material handling market
- Rise in adoption of automated order fulfilment in e-commerce is a key trend expected to bolster market growth
- Increase in adoption of semi-automated material handling system by small & medium-scale industries is a key automated material handling market trend
Regional Growth Dynamics
North America held major automated material handling market share in 2021. Providers of warehouse and logistics automation solutions in the U.S. have generated significant revenue from early adoption of automated material handling systems. Several industries in the U.S. have benefitted from Industry 4.0 technologies. A TMR’s market research report indicated that businesses are striving to integrate data obtained from Industry 4.0 processes with manufacturing systems and supply chain in order to improve production activities.
Asia Pacific is a lucrative region in the global automated material handling industry. Rise in adoption of industrial control & factory automation solutions and growth of warehouse industry are expected to propel opportunities for vendors.
Competition Landscape
Key players operating in the market are striving to unveil precise and environment-friendly products in order to consolidate their positions. The market landscape is highly fragmented. Prominent companies are engaged in product portfolio expansion and implementing the strategy of merger and acquisition to gain market share.
Prominent companies in the market include Datalogic S.p.A., GreyOrange, Blue Yonder Group, Inc., KUKA AG, KNAPP AG, Kardex, Jungheinrich AG, Honeywell International Inc., Elettric 80 SpA, Dematic, and BEUMER GROUP.
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Automated Material Handling Market Segmentation
- Offering
- Hardware
- Automated Conveyors and Sortation Systems
- Overhead Systems
- Gantry Robots
- Automated Storage and Retrieval System (ASRS)
- 2-Way and 4-Way Shuttle
- Unit-load and Mini-load
- Carousel-based
- Vertical Lift Module
- Palletizing/De-Automated Material Handlings
- Autonomous Guided Vehicles (AGV)
- Autonomous Mobile Robots (AMR)
- Order and Piece Picking Robots
- Others (RFID Scanners and Readers, etc.)
- Software
- WMS and WES
- TMS
- Automatic Identification and Data Capture (AIDC)
- Services
- Hardware
- Package Type
- Pallet
- Containers
- Bin
- Tote
- Bulk Container
- Cartons
- Others (Dunnage, Utilizer, etc.)
- Industry Vertical
- Food & Beverage
- Bakery
- Food (dry)/Grocery
- Beverage
- Dairy
- Convenience/Confectionary
- Tobacco
- Cold chain
- Personal Care
- Non-durable Goods
- Paper
- Tissue
- Chemicals
- Durable Good
- Apparel
- E-Commerce
- Offline (Brick-mortar stores)
- Pharmaceutical
- Automotive
- Retail
- E-Commerce
- Offline (Brick-mortar stores)
- 3PL
- Courier, Express and Parcel Services
- Others (Airport Services, Healthcare, etc.)
- Food & Beverage
Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Countries Covered
- U.S.
- Canada
- U.K.
- Germany
- France
- Italy
- Poland
- Spain
- Portugal
- Austria
- Switzerland
- BeNeLux
- Nordic
- Hungary
- Czech Republic
- China
- India
- Japan
- Singapore
- Malaysia
- Indonesia
- Vietnam
- Philippines
- Thailand
- Israel
- Egypt
- Brazil
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Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.
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