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Material Handling Equipment Market Worth USD 320.90 Billion by 2030 at 5.4% CAGR – Report by Market Research Future (MRFR)

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New York, USA, Aug. 16, 2022 (GLOBE NEWSWIRE) — Material Handling Equipment Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Material Handling Equipment Market Information by Operation, System Type, Application, and Region – Forecast till 2030”, the market is estimated to grow at a 5.4% CAGR to reach USD 320.90 Billion by 2030.

Market Synopsis

Material handling is essential to nearly every business, from manufacturing and construction to shipping and transportation. The demand for effective, affordable lifting solutions and rigging equipment has grown rapidly along with globalization. Effective material handling facilities and the expansion of global supply chains go hand in hand. Both involve transporting substantial loads, such as rigging hardware, machine, building components, vehicles, and raw supplies. The logistics of the business must be supported by a complex network of manual, semi-automated, and automatic equipment and systems for the supply chain to function. Today, almost every business makes use of numerous materials handling tools. By making materials conveniently accessible, each form of storage equipment strikes a balance between lowering handling costs and maximizing space efficiency in the equipment as well as in the layout of the warehouse.

The introduction of hands-free communication technologies, the Internet of Things, and artificial intelligence has accelerated the business production processes in several end-user industries. Technology has advanced significantly in this business, from driverless forklifts to conveyor belts. The supply chain will increasingly use automation as the use of robots increases. Many aspects of the supply chain, including staff and warehouse management techniques as well as speedy processing, will be severely impacted by this automation. As a result, increasing process automation also fuels the expansion of the material handling equipment market. Storage equipment is used to keep or buffer resources for later use.

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Report Scope:

Report Attribute Details
2030 Market Size USD 320.90 Billion
CAGR 5.4% (2022–2030)
Base Year 2021
Forecast Period 2022–2030
Historical Data 2019
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By Operation, System Type, Application And Region
Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers The rapid growth of the e-commerce sector across the globe
The trend of online shopping continues to increase which is considered as the major market driver

Market Competitive Landscape:

The central contenders in the material handling equipment market are:

  • Viastore Systems GmbH (Germany)
  • Eisenmann AG (Germany)
  • Columbus McKinnon Corporation (U.S.)
  • Crown Equipment Corporation (U.S.)
  • Hytrol Conveyor Co., Inc. (U.S.)
  • Liebherr Group (Switzerland
  • KION Group AG (Germany)
  • Jungheinrich AG (Germany)
  • Xuzhou Heavy Machinery Co., Ltd. (China)
  • Toyota Industries Corporation (Japan)

Market U.S.P. Covered:

Market Drivers:

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The global e-commerce market is expanding quickly, and people are actively buying everyday goods there, fostering the overall expansion of the material handling equipment market. The market for material handling equipment is thought to be primarily driven by the growing popularity of online shopping. Manufacturers and industrial sectors are becoming more visible thanks to the customization of the machinery and systems integrated with the supply chain and warehousing ecosystems. Additionally, the rising labor cost in industrialized nations propels the demand for material handling equipment.

Due to the established market participants’ rising investment, several innovations and updates are being introduced into the material handling equipment business. Such elements encourage potential end users to use material handling equipment more frequently to expand their businesses.

Market Restraints:

The expansion of the material handling sector is anticipated to be hampered by rising up-front expenses and overall ownership costs. The costs associated with purchasing, integrating, programming, and installing this material handling equipment are very substantial. Additionally, some factors limiting the growth of the material handling equipment market are the higher maintenance costs and the slower rate of return on investments.

One of the main restraints on the growth of the material handling equipment sector is the price of replacing the software and the cost of customizing the software to the organization’s needs. The main expenses impeding the growth of the material handling equipment market are the equipment’s life cycle costs. The main obstacle to expanding the material handling equipment market is a lack of knowledge regarding the accessibility of operating equipment and the variety of tasks these machines can carry out.

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COVID 19 Analysis              

During the shutdown, the e-commerce industry had remarkable growth, which has led to a demand for more productivity in the manufacturing and warehouse industries. The value of the material handling equipment market has expanded due to warehouse modernization and the need for market participants to implement automation to balance demand and productivity. As a result, during the pandemic, there were ups and downs in the growth of the material handling equipment industry. The market operators’ incapacity to maintain the efficient supply of their products within the market increased as a result of the supply chain’s total breakdown. Along with the OEMs, the epidemic has prompted other supply chain companies to investigate technologies that support informed decision-making with AI deployment to assess the significant volumes of data they regularly create. A resilient supply chain supported by improvements in equipment technology will be created using a combination of data-driven insights and hindsight.

Market Segmentation

Based On The Product

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The storage And handling equipment segment shows the highest growth rate in the forecast period.

Based On End-User

Semiconductor & Electronics segment shows the highest growth rate in the forecast period.

Based On Equipment

Industrial Trucks segment to show the highest growth rate in the forecast period.

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Based On The Component

Pallet Jacks segment to show the highest growth rate in the forecast period.

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Regional Insights

The market for material handling equipment was led by Europe, which also contributed the most to revenue. Adopting cutting-edge products will aid market expansion to support a sizable industrial presence in the area. Numerous businesses in Europe, from the production of food and beverages to technology, offer sales prospects. In addition to industrial industries, the regional demand has also been influenced by the e-commerce industry, which same-day delivery models drive. It is projected that economies like China and India will present many chances to assist OEMs in expanding their end-user markets. The quick adoption of e-commerce services during the pandemic, which favored equipment purchases, was the key factor driving regional growth.

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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Artificial Intelligence

IFS strengthens Executive Board with CIO and CHRO appointments

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Helena Nimmo appointed CIO and Debra McCowan appointed CHRO to fuel IFS’s next phase of growth in pioneering and dominating Industrial AI
LONDON, Oct. 7, 2024 /PRNewswire/ — IFS, the leading provider of enterprise cloud and Industrial AI software, has made two senior appointments to its Executive Board. Helena Nimmo joins as global Chief Information Officer (CIO) and Debra McCowan as Chief Human Resources Officer (CHRO).

Nimmo joins from Endava, a US-listed global technology company with over 12,000 employees. As CIO at IFS, Nimmo will engage CIOs and tech leaders at IFS customers to help them with their strategic transformation journeys, as well as driving the effective application of technology within IFS to deliver better products and services to customers. With IFS leading the adoption of Industrial AI across the world, Nimmo will drive the integration of AI across the IFS community, enabling IFS customers to deliver exceptional moments of service to their clients.
McCowan was CHRO at NetApp, Inc., a Fortune 500 global data infrastructure, AI and cloud services company. In this board level role, McCowan was a strategic partner and advisor to the CEO and executive leadership team. As IFS rapidly grows beyond 7,000 employees in over 90 countries, McCowan will build on the HR transformation strategy IFS has already embarked on, to lead a high-performing global team, delivering progressive HR strategies and initiatives to rapidly grow and scale IFS’s footprint.
“I’m delighted that Helena and Debra are joining IFS at such a pivotal point in its growth journey,” said Mark Moffat IFS CEO. “Helena’s leadership has been instrumental in orchestrating company-wide transformations, developing core technology infrastructures, and implementing robust security measures. Debra is a transformational Human Resources executive with years of global leadership experience in the technology sector, making her an excellent fit for this role. I look forward to the new perspectives and ideas they will both bring to IFS and support our global mission to lead the Industrial AI revolution.”
Nimmo started her career at Nokia in Finland and has since held leadership positions in both customer-facing and internal technology functions at organizations including Symbian, Fujitsu and Thomson Reuters.
“I’m delighted to be joining IFS, the world leader in cloud enterprise software and Industrial AI,” said Nimmo, IFS’s CIO. “I am excited to add my expertise to drive digital innovation and deliver exceptional value to our customers. I have a passion for technology and a commitment to excellence and am eager to contribute to IFS’s continued growth and success.”
Prior to NetApp, McCowan was the CHRO at Equinix the world’s leading global data center and interconnection provider. She has held global executive leadership roles at Avago Technologies (now Broadcom Inc.), Hitachi Data Systems (now Hitachi Vantara), and Telstra Corporation.
“Joining IFS at a time of significant growth globally is a tremendous opportunity,” said Debra McGowan, IFS CHRO. “My mission is to continue to build a conducive environment for diverse, strategically aligned high performing teams to connect and thrive in a fast-paced business and in a dynamic workplace. I look forward to this exciting challenge.”
About IFS
IFS is the world’s leading provider of Industrial AI and enterprise software for hardcore businesses that make, service, and power our planet. Our technology enables businesses which manufacture goods, maintain complex assets, and manage service-focused operations to unlock the transformative power of Industrial AI™ to enhance productivity, efficiency, and sustainability.
IFS Cloud is a fully composable AI-powered platform, designed for ultimate flexibility and adaptability to our customers’ specific requirements and business evolution. It spans the needs of Enterprise Resource Planning (ERP), Enterprise Asset Management (EAM), Supply Chain Management (SCM), Information Technology Service Management (ITSM), and Field Service Management (FSM). IFS technology leverages AI, machine learning, real-time data and analytics to empower our customers to make informed strategic decisions and excel at their Moment of Service™.
IFS was founded in 1983 by five university friends who pitched a tent outside our first customer’s site to ensure they would be available 24/7 and the needs of the customer would come first. Since then, IFS has grown into a global leader with over 7,000 employees in 90+ countries. Driven by those foundational values of agility, customer-centricity, and trust, IFS is recognized worldwide for delivering value and supporting strategic transformations. We are the most recommended supplier in our sector. Visit ifs.com to learn why.
Contact information:EUROPE / MEA / APJ:Adam GillbeEmail: [email protected] 
NORTH AMERICA / LATAM:Mairi MorganEmail: [email protected] 
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/ifs/r/ifs-strengthens-executive-board-with-cio-and-chro-appointments,c4047765
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Transforming Real Estate: Deka Immobilien and BuildingMinds Join Forces to Create Centralized ESG Data Hub for Carbon Reduction

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BERLIN, Oct. 7, 2024 /PRNewswire/ — Deka Immobilien is implementing a central ESG data platform for its entire global real estate portfolio with BuildingMinds, the GRI winner of Proptech of the Year 2024. In the future, all stakeholders, from property and asset management to portfolio management, will be able to make data-driven decisions in real-time concerning the buildings and their CO2 emissions. At the same time, the created database will become the central supplier for Deka Immobilien’s ESG reporting activities.

The BuildingMinds platform is intended to serve as a control instrument, primarily for reducing the CO2 emissions of existing buildings.
A good, reliable database is the starting point for a well-founded reduction of CO2 emissions. BuildingMinds supports Deka Immobilien by providing structured data collection methods for energy and media consumption that meet the demands of a global real estate portfolio with varying requirements in individual countries and across different types of building usage. In addition, ESG-relevant documents such as energy certificates, green building certificates, and other expert opinions can be linked to each building. Enriched by a data quality assurance process, including a digitized, comprehensible filling of any data gaps, the platform becomes the “single-source-of-truth” for planning and reporting systems at Deka Immobilien.
The acquired database will become a central component in creating transparency around Deka Immobilien’s actions and the foundation for meeting European ESG reporting requirements. The BuildingMinds platform is integrated into Deka Immobilien’s reporting processes and also supports evaluations regarding the taxonomy conformity of the portfolio.
In the active asset management of the properties, the platform is used as an optimization tool. In the future, property, asset, and portfolio managers should be able to validate planning decisions based on real-time data. Benchmarks for energy and CO2 emissions can be used to analyze individual assets and entire portfolios. Targeted action plans can be evaluated in terms of their impact on energy, CO2 emissions, investment, and operating costs, allowing the path to achieving climate goals to be aligned with the fiduciary responsibility towards investors.
About BuildingMindsFounded in 2018 and fully funded by the Schindler Group, BuildingMinds is a software-as-a-service (SaaS) provider for the real estate industry, offering a comprehensive, data-driven platform for improving building performance. Using innovative technologies and analytics, BuildingMinds enables property owners and managers to efficiently monitor, assess, and optimize their portfolios and assets. This supports the development of a more sustainable and data-driven transformation in the real estate industry.
International Press Enquiries: Peter PanayiHead of Go-To-Market & Global Communicaions+44 [email protected]
Logo – https://mma.prnewswire.com/media/2523442/BuildingMinds_GmbH_Logo.jpg
 

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Racing Legend Jacques Villeneuve Engages CYPFER to Embolden Cybersecurity & Digital Resilience

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Villeneuve Looks to Be a Living Demonstration of Futurizing Racing Brands and The Business of Motorsports
MIAMI, LONDON and TORONTO, Oct. 7, 2024 /PRNewswire/ — Jacques Villeneuve, former Formula 1 World Champion and current F4 team owner, announced today the strategic partnership with Daniel Tobok, CEO of CYPFER, as Chief Cyber Intelligence Advisor for Villeneuve’s racing teams.

“The integration of advanced technology in motorsports demands equally advanced cybersecurity measures,” says Daniel Tobok, CEO of CYPFER. “With Jacques Villeneuve’s teams pushing the limits of innovation, we are dedicated to protecting their digital infrastructure, ensuring data integrity, and maintaining competitive advantage,” states Tobok.
The motorsports industry is increasingly reliant on digital technology, from car telemetry to race strategy simulations. According to a report by Cybersecurity Ventures, the cybercrime epidemic is predicted to cost the world $10.5 trillion annually by 2025, with the sports sector being a significant target due to its high-profile nature and valuable data.
“Racing at the highest levels requires not only physical and mechanical excellence but also digital security,” says Jacques Villeneuve. “Partnering with CYPFER gives us the confidence that our sensitive data, from race strategies to telemetry, is secure from cyber threats. This collaboration is a crucial part of our commitment to our core mission: winning races and pushing the boundaries of what’s possible in motorsports,” concludes Villeneuve.
“Entering the world of motorsports with Jacques Villeneuve is an exciting milestone for CYPFER,” shares Tobok. “Jacques’ legacy in racing and his forward-thinking approach make him an ideal collaborator. We are ready to safeguard his teams’ digital assets and contribute to their continued success,” concludes Tobok.
About CYPFER
CYPFER is on a global mission to help companies create Cyber Certainty™. With an experienced  team of incident responders, threat researchers, seasoned ransom experts, and data restoration experts, CYPFER is the trusted firm for leading law firms, insurance carriers and  global organizations. CYPFER’s cybersecurity professionals are located across the US, Canada,  UK, and Caribbean. The CYPFER team is ready to respond and help clients experiencing cyber attacks 24x7x365. CYPFER’s experts provide white-glove service and aim to restore Cyber Certainty™ for all clients on every engagement.
CYPFER’s core services include:
Ransomware Advisory Incident Response Services with specialized expertise in ransomware response and  recoveryOn-site and/or remote post-breach restoration support to augment internal teamsCYPFER is headquartered in Miami, FL. The company currently employs 140+ cybersecurity experts and has supported clients across six continents. CYPFER is executing plans to expand across the globe and boast a workforce of 200 cybersecurity professionals by the end of 2024.
For inquiries, please contact our PR Team at [email protected] 

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