PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1425016
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1425016
Material Handling Integration Market size was valued at USD 41,910 Million in 2022, expanding at a CAGR of 8.5% from 2023 to 2030.
The transportation of products and materials from one place to another is known as material handling. From production to distribution, it involves safeguarding, storing, and managing the resources. An integrated material handling automation system's design, equipment, and installation are managed by a material handling systems integrator.
Material Handling Integration Market- Market Dynamics
Rising demand for efficient material handling systems in growing e-commerce industry to propel market demand
The deployment of material handling integration systems is significantly accelerated by the growing global acceptance of e-commerce. Every day, millions of products are moved throughout the world, which has increased need for effective material handling systems. Major firms in the highly competitive e-commerce space mostly depend on these solutions to improve operational efficiency. Furthermore, it improves operational efficiency through the optimization of material flow, reduction of errors, and minimization of delays. Businesses can reduce costs, improve productivity, and achieve smoother operations by organizing hardware and software and optimizing processes. Businesses can improve overall operational performance, minimize errors, cut expenses, and streamline their supply chain by integrating these components effectively.
Over the forecast period, the demand for material handling integration is anticipated to be driven by the increasing need for automation in the composition of medical equipment and pharmaceuticals. In addition, the rising prevalence of illnesses and disorders among people in both developed and emerging nations is driving up demand for pharmaceuticals and medical supplies. The need for Material Handling Integration is probably going to increase as a result worldwide. The expansion in the computer sector and increased IT activities will also drive the need for faster networks, more bandwidth, and better system performance, which will fuel market growth.
Material Handling Integration Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.5% over the forecast period (2023-2030)
Based on Component segmentation, hardware segment was predicted to show maximum market share in the year 2022, owing to high demand robotic, retrieval system, etc.
Based on Application segmentation, transportation segment was the leading segment in 2022, due to high demand for assembly components in shipment.
Based on End-User segmentation, retail & e-commerce segment was the leading segment in 2022, mainly due to increasing e-commerce sector.
On the basis of region, Asia Pacific was the leading revenue generator in 2022, owing to rising penetration of smart devices in developing countries like China, India, Indonesia, etc.
The Global Material Handling Integration Market is segmented on the basis of Component, Application, End-User, and Region.
The market is divided into three categories based on Component: hardware, software, and services. The hardware segment dominates the market. The availability if wider range of hardware products in handling is expected to boost the segment demand.
The market is divided into five categories based on Application: assembly, conveyance, transportation, packaging, and others. The transportation segment dominates the market and is likely to maintain its dominance during the forecast period. The rise in demand for material handling solution in transportation sector is boosting the segment growth.
The market is divided into seven categories based on End-User: retail & e-commerce, automotive, healthcare, food & beverages, transportation & logistics, manufacturing, and others. The retail & e-commerce segment dominates the market and is likely to maintain its dominance during the forecast period. The increased demand for electronic Components in telecom applications is boosting the market growth.
Material Handling Integration Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. The Asia Pacific is expected to hold the largest market share over the forecast period. E-commerce sales have significantly increased as a result of the region's growing internet and smartphone usage. Japan, South Korea, Singapore, Australia, and other nations have high rates of technology adoption.
The market for material handling integration is very competitive. To increase their presence and market share, the major players are implementing a variety of development tactics, including product launches, mergers and acquisitions, and others. To enhance the client experience, these players are adding new features in addition to important strategies mentioned above. The organizations have considered integrating and diversifying their business processes to support the value chain component of their company.
In April 2023, Automated Handling Solutions and Advanced Material Processing collaborated to launch a new group website aimed at improving customer experience and streamlining material handling operations.