Automated Material Handling Equipment Market Size, Share & Forecast 2029
Automated Material Handling Equipment Market was valued at USD 27.5 billion in 2021 and projected to reach USD 54.4 billion in 2029, growing at a CAGR of 8.9%. The factors driving growth of the Automated Material Handling Equipment Market includes growing demand for Automated Storage and Retrieval System (ASRS) in the e-commerce industry and rising focus by manufacturers and warehouse operators on enhancing the efficiency and speed of picking orders. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT) and Radio Frequency Identification (RFID), strategic mergers and acquisitions between key industry leaders and rising emphasis on digitalizing the supply chains, are further propelling the market growth. In addition, increasing application of automated material handling equipment to improve customer service, shorten delivery time and reduce overall handling cost along with rising investments by leading players on resear...