No products in the cart.
Material Handling Integration Market Size - By Component (Hardware, Software, Services), Industry Vertical (Retail & E-Commerce, Automotive, Healthcare, Transportation & Logistics, Manufacturing, Food & Beverages), Application & Global Forecast, 2023 - 2032
Report ID: GMI7461
|
Published Date: November 2023
|
Report Format: PDF
Download free sample
Get a free sample of Material Handling Integration Market
Get a free sample of Material Handling Integration Market
Is your requirement urgent? Please give us your business email for a speedy delivery!
Buy Now
Immediate Delivery
$4,123 $4,850
15% off
$4,280 $5,350
20% off
$5,845 $8,350
30% off
Buy now
Premium Report Details
Base Year: 2022
Companies covered: 20
Tables & Figures: 315
Countries covered: 19
Pages: 220
Download Free Sample
Material Handling Integration Market Size
Material Handling Integration Market size was valued at USD 41.3 billion in 2022 and is anticipated to register a CAGR of over 8.5% between 2023 and 2032, attributed to the increasing adoption of automation and Industry 4.0 practices in various industries. As businesses pivot towards smart manufacturing, the demand for integrated material handling solutions rises. These systems play a crucial role in optimizing processes, ensuring seamless coordination, and enhancing efficiency, aligning with the principles of Industry 4.0. The market experiences robust growth as industries seek advanced solutions to stay competitive in the era of automated and interconnected production, driving growth and innovation in the field.
Quoting an instance, in April 2022, Chicago-based private equity firm May River Capital unveiled the formation of Automated Handling Solutions, a novel platform specializing in advanced material handling equipment and automation solutions for the lower middle market industrial growth sector. This platform results from the integration of two companies: Spiroflow, a global material handling equipment manufacturer with control systems integration services, and Cablevey Conveyors, a leading producer of patented tubular drag conveying systems for high-value industrial and food and beverage applications. The amalgamation aims to deliver a distinctive and extensive range of material handling and industrial automation solutions to global marquee clients.
The material handling integration market faces a challenge in terms of the high initial costs associated with implementing integrated systems. The upfront expenses for acquiring and installing advanced technology, automation equipment, and integrated solutions can be significant. This financial barrier may deter some businesses, especially smaller ones, from adopting material handling integration despite the long-term benefits, thus limiting market growth.
COVID-19 Impact
The COVID-19 pandemic significantly impacted the material handling integration market forecast, causing disruptions in global supply chains and industrial operations. Lockdowns, restrictions, and workforce challenges led to delays in the implementation of material handling integration projects. The uncertainty also prompted some businesses to reevaluate their investment plans, affecting the overall market outlook. However, the pandemic underscored the importance of resilient and flexible material handling systems, accelerating interest in automation and integration solutions to enhance supply chain resilience in a post-pandemic landscape.
Material Handling Integration Market Trends
The material handling integration industry is witnessing a growing trend towards the integration of robotics and autonomous systems. Advanced robotic technologies, including autonomous mobile robots (AMRs) and robotic arms, are being incorporated into material handling systems to enhance efficiency, speed, and flexibility in warehouse and distribution operations. These systems offer the capability to automate tasks such as picking, packing, and palletizing, contributing to increased productivity and reduced labor costs.
Driven by these benefits, companies in this space are improving their strategic game to make the most of available growth opportunities, favoring the overall market dynamics. For instance, in December 2022, Tecsys Inc., a prominent supply chain management software firm, and SVT Robotics Inc., a leader in swift industrial robotics deployment software, collaborated to create and introduce an integrated link between Tecsys' Elite supply chain platform and SVT's SOFTBOT Platform. This integration offers Tecsys Elite customers a streamlined deployment process with reduced complexity, eliminating the necessity for prolonged custom code development typically associated with automation and robotics implementation across multiple systems.
Material Handling Integration Market Analysis
Based on component, the hardware segment held over 61% of the market share in 2022, due to increasing demand for advanced technologies that help enhance efficiency and automation. Businesses seek robust hardware solutions to optimize material handling processes, such as conveyor systems, robotic arms, and automated storage and retrieval systems. The imperative for improved productivity, streamlined operations, and the ability to handle diverse goods fuels the adoption of these hardware components, positioning them as essential elements in modern material handling integration strategies.
Based on industry vertical, the retail & e-commerce segment accounted for 22% of the material handling integration market share in 2022, owing to the imperative for streamlined and efficient logistics. The surge in online shopping necessitates sophisticated systems that can handle increased order volumes with precision. Material handling integration, incorporating automation, robotics, and data-driven technologies, optimizes warehouse operations, accelerates order fulfillment, and reduces errors. With consumers expecting swift deliveries, the retail and e-commerce sector adopts integrated solutions to meet these expectations, enhancing overall operational agility and customer satisfaction in the dynamic landscape of online commerce.
Asia Pacific material handling integration market recorded around 35% of the revenue share in 2022, attributed to burgeoning industrialization, increasing e-commerce activities, and a focus on technological advancements. The region's rapid economic development has spurred demand for efficient supply chain solutions, prompting widespread adoption of material handling integration technologies. As businesses strive for heightened productivity and cost-effectiveness, the deployment of integrated systems, incorporating automation and robotics, becomes instrumental. The dynamic market landscape in Asia Pacific reflects a strategic alignment with modernization goals, driving the industry to unprecedented growth in the region.
Material Handling Integration Market Share
Major companies operating in the material handling integration industry are:
Companies in the material handling integration market bolster their presence through strategic measures such as technological innovation, partnerships, and participation in industry events. Emphasizing efficiency, cost-effectiveness, and sustainability, these strategies aim to capture market share and meet evolving customer demands.
Material Handling Integration Industry News
The material handling integration market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments:
Click here to Buy Section of this Report
Market, By Component
Market, By Application
Market, By Industry Vertical
The above information has been provided for the following regions and countries: