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Automated Material Handling (AMH) Market Size, Share, Trends Outlook And Global Forecast 2024 To 2033
Automated Material Handling (AMH) Market Size
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According to The Business Research Company's, The automated material handling (AMH) market size has grown rapidly in recent years. It will grow from $47.19 billion in 2023 to $52.56 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be attributed to the growing presence of start-up companies providing robotic solutions for warehouse automation, the increasing trend toward smart factories, the rising need for efficiency and productivity of manufacturing, increasing growth of the e-commerce industry, and rising labor costs.
The automated material handling (AMH) market size is expected to see rapid growth in the next few years. It will grow to $81.81 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to increasing growth of the e-commerce industry, increasing efficiency and productivity of warehouse operating companies, growing need for automation in industries, growing autonomous drones for warehouse management, and growing use of robotics in warehousing. Major trends in the forecast period include introduction of technologies to support the logistics and supply chain of the manufacturing unit, advancements in motion control, continuous innovations to manufacture high-quality products, technological advancements, and integration with internet of things (IoT) and data analytics.
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Market Drivers and Trends:
The growing need for automation in various industries is expected to propel the growth of the automated material handling market going forward. Automation in industries refers to using technology and systems to perform tasks and processes with minimal human intervention, enhancing efficiency, accuracy, and productivity. The growing need for automation in various industries is due to labor shortages, cost reduction, scalability, and data-driven industry decision-making. Automated material handling streamlines various operations by efficiently managing the movement, storage, and processing of materials, thereby reducing manual labor, minimizing errors, and enhancing overall productivity. For instance, in 2023, according to the International Federation of Robotics, a Germany-based non-profit organization, industrial robot installations in manufacturing climbed by 12% overall in 2022 to reach 41,624 units. The automotive industry, mostly consisting of US, Canadian, and Mexican businesses, was the top adopter with 20,391 installed units, a 30% rise from 2021. Therefore, the growing need for automation in various industries drives the automated material handling market.
Major companies operating in the automated material handling market are focusing on developing innovative solutions, such as freight movement systems, to meet the increasing demand for more efficient, flexible, and resilient supply chain operations. Freight Movement System, as a part of automated material handling that focuses specifically on transporting goods or materials within a warehouse, factory, or distribution center. This system integrates various automated technologies to improve material handling operations' efficiency, accuracy, and safety. For instance, in February 2024, ArcBest Corporation, a US-based transport company, launched ArcBest's Vaux Freight Movement System, an innovative suite of hardware and software that revolutionizes how freight is loaded, unloaded, and transferred in warehouses, on docks, and over the road. The Vaux Freight Movement System enables trailers to be unloaded in less than five minutes, with multiple forklifts swarming and processing the freight from all sides. This approach minimizes driver wait times, reduces damage claims, and enhances dock utilization.
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Major Key Players of the Market:
Mitsubishi Group, Honeywell International Inc., Toyota Industries Corporation, Murata Machinery Ltd., KION Group AG, Omron Corporation, Jungheinrich AG, FANUC Corporation, Crown Equipment Corporation, Daifuku Co. Ltd., Hyster-Yale Materials Handling Inc., KUKA AG, Dematic, SSI Schaefer Group, Vanderlande, SICK AG, BEUMER Group, Beckhoff Automation GmbH & Co. KG, Kardex Group, Swisslog AG, Bastian Solutions LLC
Automated Material Handling (AMH) Market 2024 Key Insights:
• The automated material handling (AMH) market size is expected to see rapid growth in the next few years. It will grow to $81.81 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%.
• Surge In Industrial Automation Fuels Growth Of Automated Material Handling Market
• Automated Material Handling Companies Embrace Technological Advancements With Autonomous And Remote-Controlled Systems
• North America was the largest region in the automated material handling (AMH) market in 2023
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