Automated Material Handling Systems Market to be Worth $70.1 Billion by 2030

Redding California, February 26, 2024- Meticulous Research®, a premier global market research company, has released a comprehensive report titled "Automated Material Handling Systems Market by Meticulous Research®: Global Forecast to 2030." The report, focusing on types such as ASRS, AGV, and Robotic Systems, explores components, functions, and end-use industries, projecting the global market to soar to $70.1 billion by 2030, with a robust CAGR of 8.3% from 2023 to 2030.

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Market Dynamics and Growth Drivers
The automated material handling systems (AMHS) market is witnessing substantial growth due to the increasing prominence of AMHS across industries. Enterprises are strategically focusing on optimizing floor space utilization, enhancing order processing capabilities, and responding to the surging demand for warehouse automation. Despite these positive trends, the market faces challenges related to the high initial costs of AMHS deployment.

The report identifies key factors driving market growth, such as the growing significance of online retail platforms, increased utilization of RFID and barcode technologies, integration of cloud and IoT technologies in AMHS, and the advent of Industry 4.0. However, challenges like the expansion and automation of warehouses without disrupting operations and cybersecurity risks need to be addressed. A notable trend in the market is the increasing adoption of Robots as a Service (RaaS).

Segmentation and Key Findings
The global AMHS market is meticulously segmented based on type, component, function, and end-use industry. The study evaluates industry competitors and provides a detailed analysis at the regional and country levels.

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Type Segment: In 2023, the robotic systems segment is expected to dominate the global AMHS market, accounting for the largest share. This dominance is attributed to the growing adoption of automation in manufacturing, the increased use of robotic systems for handling hazardous tasks, improved overall equipment effectiveness (OEE), increased production output, and advancements in robotics technology. The vehicle systems segment is projected to record the highest CAGR during the forecast period, driven by the adoption of AGVs in various industries, including automotive and manufacturing.

Component Segment: The hardware segment is expected to lead the market in 2023, owing to the increasing demand for industrial hardware components such as programmable logic controllers (PLCs) and sensors. However, the software segment is anticipated to record the highest CAGR, driven by the increasing need for remote monitoring and control, seamless integration, connectivity between different components, real-time visibility into inventory levels, and automated workflows.

Function Segment: The picking segment is projected to account for the largest share in 2023, driven by the growing need for accurate inventory tracking, efficient replenishment, timely reordering, and faster order processing and shipping. The same segment is expected to record the highest CAGR during the forecast period.

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End-use Industry Segment: In 2023, the automotive segment is poised to dominate the global AMHS market, driven by the automotive industry's increasing need to optimize material flow, reduce manual labor, and improve overall supply chain efficiency. The healthcare & pharma segment is projected to record the highest CAGR during the forecast period, owing to the growing need for accurate tracking and handling of pharmaceuticals and medical supplies.

Regional Analysis: Asia-Pacific is expected to hold the largest market share in 2023, driven by a rapidly transforming manufacturing and warehousing infrastructure, increasing investments in innovative technologies, consistent technological advancements, a growing emphasis on robotics and automation, and the expansion of the e-commerce sector.

Key Players
Key players operating in the AMHS market include SSI SCHÄFER AG, Murata Machinery, Ltd., KNAPP AG, BEUMER Group GmbH & Co. KG, Swisslog Holding AG, TGW Logistics Group GmbH, WITRON Service GmbH & Co. KG, Kardex Holding AG, E80 GROUP S.P.A., System Logistics S.p.A., DMW&H, viastore SYSTEMS GmbH, Lödige Industries GmbH, Stöcklin Logistik AG, Jungheinrich AG, and Mobile Industrial Robots A/S.

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In-depth Market Exploration and Future Insights
The report addresses critical questions for industry stakeholders, providing insights into high-growth market segments, historical market trends, forecasts for 2023-2030, major drivers, restraints, opportunities, challenges, competitive landscape, recent developments, key strategies adopted by major players, and key geographic trends.

Mr. Khushal Bombe
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This release was published on openPR.