The global automated truck loading system market to grow at a CAGR of 8.38% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global automated truck loading system market for 2017-2021. To calculate the market size, the report considers the revenue contribution has been considered for distribution logistics operations for the transport and logistics industry, and production and procurement logistics operations for other industries. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is changes in the global labor force. Rapid industrialization in developed and emerging economies has led to the increased demand for labor, resulting in a hike in the average labor cost and less availability of skilled workers in industries like chemicals and petrochemicals globally.
According to the report, one of the major drivers for this market is increase in demand for automated material handling in the industrial sector. Industrial players are increasingly emphasizing on post-manufacturing operations and exploring cost-cutting opportunities in material handling through lean management principles. There is an increased emphasis on speeding up the cash cycle while improving customer satisfaction. This has necessitated the adoption of automated material handling operations and is expected to impact various aspects of material handling, including loading.
Further, the report states that one of the major factors hindering the growth of this market is high cost of implementation. Since ATLS involve the use of sensors, software, and advanced technologies, their pr ices are considerably high and require a large initial one-time payment. Also, investments on trailers and docks, along with investment in their modification add to costs. The costs appreciate depending on the customization and other operational requirements based on the industry.