Traditional methods of handling material through the entire supply chain of the product cycle has proven to be highly inefficient, error-prone as well as risk-prone for the labor associated with the task. Increasing demands for various consumer goods, electronic devices, and automotive have created additional pressures for enhancing the efficiency of the supply chain. Matching supplies with the ever increasing demands for consumer goods has remained one of the biggest challenges for the service providers. Further, conventional human methods are highly prone to errors due to human fatigue, reduce the productivity of the workplace, and thereby lead to increased time consumptions.
Over the past two decades, automation in manufacturing has been a constant factor leading to transformation in the factory floor operations, manufacturing employment, as well as the dynamics of the manufacturing sector on a whole. Current trends that are buzzing in the manufacturing sector such as robotics, machine learning, and artificial intelligence have enabled the machines to match or even outpace humans in a range of activities including the cognitive activities that are required at various levels of manufacturing. An increased productivity ranging between 10-20% is observed when automation is integrated on any lean assembly line. Further, Industry 4.0 is another buzzing trend that is anticipated to take up the manufacturing sector in the coming years. The advent of Industry 4.0 or the Industrial Internet of Things (IIoT) that would utilize the powers of collaborative robots, and automated guided vehicles is further anticipated to drive productivity in the manufacturing sector thereby propelling the growth of automated material handling equipment market.
For the automated material handling equipment to grow at a swift pace over the coming years, advancements in the allied electronics technologies is also mandatory. Internet of Things (IoT), Radio Frequency Identification (RFID), Near Field Communication (NFC), and Automated Intelligent Data Capture (AIDC) are some of the technologies that further enable smooth functioning of automated material handling equipment. The use of Information and Communication Technologies (ICT) in the manufacturing and logistics industry has been comparatively quite low. Even though, technologies have been evolving at a breathtaking pace, fruitful integrations in the manufacturing and logistics industry hasn’t been that remarkable. This has left the researchers and scientists to ponder on quite a few issues and accordingly, companies now have started investing for finding a proper match to integrate these technologies.
The global automated material handling equipment market is segmented on basis of five strategic regions including; North America, Europe, Asia Pacific, Middle East and Africa, and South America. Asia-Pacific holds the largest chunk of the market share currently. The manufacturing industry in the countries of Asia Pacific have experienced a huge shift over the years. The Asian manufacturing sector is known to rapidly adopt innovative technologies that includes robotics along with the emerging cloud and mobility technologies. Over the years, the manufacturing spending of the region has grown significantly and is further anticipated to grow at a highest estimated growth rate.
Key players in the market are taking measures to gain maximum benefit from on the opportunities in emerging markets. Some of the major players in the automated material handling equipment market include Daifuku Co. Ltd., Hyster-Yale Material Handling, Inc., Jungheinrich AG, Kion Group AG, Toyota Industries Corporation, Hanwha Corporation, John Bean Technologies Corporation, Kuka AG, Beumer Group Gmbh & Co., and Fives Group among others. Various other companies also operate in the global market, with enhanced products and solutions and significant customer base.
The report segments the global automated material handling equipment market as follows:
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