Automated material handling equipment market to reach $59.5 billion by 2026 – Market Report
Automated material handling equipment are useful in offering an efficient and cost-effective way for faster and easy movement of materials. They are highly useful in eliminating dependence on human labour for operations such as moving, sorting, organising and retrieving of materials within warehousing and manufacturing sector.
According to market research report, Automated Material Handling Equipment estimated at US$39.3 Billion is anticipated to reach US$59.5 Billion by 2026, growing at a CAGR of 7.2% over the forecast period. In addition, Robots market is projected to reach US$30 Billion growing at a 9% CAGR during the analysis period.
As COVID-19 caused disruptions all around the world, manufacturing and warehousing sector started adopting automation and industry 4.0 to enable seamless operations. Innovative technologies such as automated assembly lines, real-time plant monitoring equipment, and manufacturing data collection system, will gain traction in the coming times.
Read more