The conveyer systems market has witnessed a flurry of activity in recent years, resulting in a steady growth at a moderate pace in recent years. This can be attributed to the steady growth of the packaging industry globally, which has had a positive impact on the global conveyer systems market. The study by Future Market Insights on the prospective growth of the market estimates that the global conveyer systems landscape is likely to grow at a CAGR of 5% globally, during the course of the forecast period.
Due to a balanced expansion of the larger warehouse and distribution sector, one of the biggest end-use industries, there has been a subsequent effect on the conveyer systems market as well.
Robotics and IIoT in Conveyer Systems
As one of the key elements in automated facilities, conveyer systems are at the centre of continuous research and development to improve operational efficiency of facilities. And technology’s pervasive influence has led to the innovation of products that incorporate Industrial Internet of Things (IIoT) for smarter product. It offers the potential benefits of predictive maintenance, energy efficiency, and electric actuation, contributing to the operational efficiency factor.
With disruptive technologies on the rise, manufacturers are looking to focus on replacing large mechanical and pneumatic conveyor systems with reliable, all-electric systems. The demand for smart systems comes from not just the warehouses and logistics industry, but also from food & beverage, automotive industry and more. Manufacturers from around the world, are also looking at Mixed-model Assembly Lines incorporate smart components to align with newer trends and offer compact footprints.
Regional Markets in the Conveyer Systems Landscape
The global market for conveyer systems is heavily influenced by the advent of several useful technological advances for the factory floor, aimed at improving operations. And with the significant growth of the e-commerce industry and consequent expansion of warehousing, the growth prospects of conveyer systems is particularly high in the regional markets of North America and Europe. This can be attributed to these markets being early adopters of technology and changes, pushing manufacturers in the landscape to focus on catering to end-use industries in these regions.
However, due to the expansion of the manufacturing as a whole in Asian markets in general, and China, India, Indonesia, and Thailand in particular, a healthy demand for conveyer systems is expected from this region as well.
Evolution of the Global Market
Based on the historical data on the conveyer systems market, and an analysis of the recent developments in the landscape, this study by Future Market Insights estimates that the prospects of the market are bright.
The global push for the adoption of advanced technologies such as automation and robotics, and smarter systems is expected to be a significant driving force behind the growth and expansion of the conveyer systems market. Manufacturers in the landscape are looking to capitalise on this trend to improve operational efficiency, by investing in research and development smarter motors and controllers and other product innovations.
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