Outlook of Material Handling Equipment Market status and development trends reviewed in new report

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Material Handling Equipment industry analysis
research and trends report for 2018- 2024 Global
Market Insights, Inc.
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• Global Market Scenario of E-Commerce Industry

• Material Handling Equipment Market  to exceed USD
  190 billion by 2024 according to a new research
  report by Global Market Insights, Inc.
• Growing automation capabilities in the
  manufacturing space coupled with increasing
  penetration of advanced technologies, such as
  IoT, RFID, and AI, are expected to drive the
  material handling equipment market growth.
• Automated material handling systems are gaining
  popularity with the growing inclination of
  industries to replace human labor with automated
  systems.
• Rising labor costs in countries including China
  India will support the Material Handling
  Equipment Market growth. The booming
  manufacturing sector in the region coupled with
  high-cost labor is compelling manufacturers to
  use sophisticated machinery to ensure high
  throughput in lesser time.
• RFID, IoT, and Automatic Identification Data
  Capture (AIDC) technologies are becoming
  significantly popular as they improve the order
  fulfillment processes and help in enhancing
  productivity across the supply chain.

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• Conventional manual techniques reduce the
  productivity and lead to time consumption.
  Traditional techniques for material handling are
  also prone to errors caused by human fatigue.
• Moreover, they also pose a restriction to the
  amount of load that can be transferred or stored.
  Bulk material handling storage systems and
  industrial trucks are facilitating the management
  of large volumes of data thereby reducing the
  unnecessary time consumption.
• Real-time technical challenges in the operation
  of these systems with the requirement of high
  capital investment are anticipated to negatively
  impact the material handling equipment market.
• The complexity involved in the integration of
  hardware and software for manufacturing
  facilities is restricting companies that have
  budgetary constraints from adopting these
  systems. Moreover, cybersecurity threats in these
  systems are also factors hindering the industry
  growth.

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• 360 Industry Analysis

• The robotics segment in the material handling
  equipment market is expected to witness
  significant CAGR of over 8 to reach over USD 20
  billion by 2024 owing to the demand for
  high-performance robotic systems across various
  industry verticals. Robots facilitate easy and
  fast pick place of material thereby ensuring
  accuracy and eliminating human involvement.
• The rising awareness about the advantages of
  automated systems globally will fuel the demand
  for robots across industries. Extensive RD
  undertaken in the field of robotics AI in
  countries including Japan and China is expected
  to fuel the material handling equipment market
  over the forecast period. The incorporation of
  machine learning capabilities in the robots to
  increase productivity with predictive maintenance
  further contributes to the industry demand.

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• Regional Analysis

• The developments in the manufacturing sector in
  countries such as Japan, China, and India are
  expected to propel the material handling
  equipment market growth. These systems are
  increasingly being adopted in warehouses and
  production facilities for automating all
  processes. The growing transportation logistics
  industry in the U.S. is providing growth
  opportunities to the industry value at over USD
  25 billion in 2017. The early technology adoption
  in the region and the ongoing RD in the U.S.
  will fuel the material handling equipment market
  demand.

• Competitive Analysis

• Key vendors in the material handling equipment
  market comprise Hyster-Yale Materials Handling,
  Inc., KUKA AG, Kion Group AG, JBT Corporation,
  Flexlink, Intelligrated, Inc., Dematic GmbH
  Co., KG., Columbus McKinnon, and Daifuku Co.,
  Ltd. Companies are trying to launch new solutions
  and expand the product portfolio. The industry is
  characterized by strategic acquisitions and
  collaborations with technology providers to offer
  enhanced solutions. Players are stressing on
  manufacturing solutions that cater to specific
  industry demands and complying with the standards
  and regulations operating in the industry.

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Latest Research Report On Material Handling
Equipment Market _at_https//www.gminsights.com/indu
stry-analysis/material-handling-equipment-market
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