LONDON--(BUSINESS WIRE)--The global automated material handling equipment market is expected to post a CAGR of over 8% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the improvement in warehouse operational efficiency by adopting AS/RS. AS/RS assist in improving the efficiency of warehouses and fulfillment centers. These systems enhance the accuracy of order picking, make efficient use of the available space, and improve employee safety. These factors help companies in reducing their operating costs.
This market research report on the global automated material handling equipment market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights Industry 4.0 and IoT as one of the key emerging trends in the global automated material handling equipment (AMHE) market:
Global automated material handling equipment market: Industry 4.0 and IoT
The global economy has been currently observing the adoption of automation across industries, which is termed as Industry 4.0. This trend of automation and data exchange in manufacturing and other labor-intensive processes includes cyber-physical systems, Internet of Things, and cloud computing.
“Automation is necessary to integrate all the systems in manufacturing facilities. For instance, the breakdown data of each AGV is stored on the cloud and can be accessed instantly for analysis to decide the operation cost of AGVs. In addition, based on this analysis, predictive analytics can be applied on the data to minimize the incidence of breakdown,” says a senior analyst at Technavio for research on warehouse and storage.
Global automated material handling equipment market: Segmentation analysis
This market research report segments the global automated material handling equipment market by product (AGVs, AS/RS, conveyor systems, and robotics systems) and geography (APAC, EMEA, and the Americas).
The conveyor systems segment held the largest market share in 2017, accounting for over 40% of the market. This product segment is expected to dominate the global market throughout the forecast period.
EMEA led the market in 2017 with more than 36% of the market share, followed by the Americas and APAC respectively. APAC is anticipated to witness the highest growth rate during the forecast period because of the growing demand from AMHE in countries such as China and India.
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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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