The markets for both linear and planar smart conveyance technology (SCT) are evolving rapidly, driven by industry demands, the inherent benefits of smart conveyance technology and the emergence of new markets. New data from market intelligence expert Interact Analysis shows demand for linear smart conveyance systems has surged, with sales increasing by 27% in 2021 and 32% in 2022. In 2023, the market grew by 23%, largely driven by the battery manufacturing industry.
Despite strong growth in recent years, the linear smart conveyance market is expected to contract by 2.3% in 2024 due to sluggish machinery production and reduced investment in the battery sector. However, Interact Analysis forecasts a compound annual growth rate (CAGR) of 19.1% between 2024 and 2029, with $1.1 billion in sales projected for 2029.
Meanwhile, planar smart conveyance technology is still mostly used in trial applications, with much lower levels of customer awareness and trust compared with linear systems. In 2023, the planar SCT market saw a 27% increase in sales, mirroring growth in the linear SCT market and topping $18 million. Due to overall weak machinery industry growth, the planar market is expected to grow by only 7.9% in 2024. Post-2024, the market is predicted to expand more rapidly, with a CAGR of 28.1% forecast from 2023 to 2029. By 2029, the market size is projected to be worth more than $80 million.
Global SCT market driven by growing demand for precision and high throughput
The increasing reliance on precision movements and higher throughput in manufacturing processes is a major driver for smart conveyance technology. Integration into smart factories can enhance the efficiency and flexibility of production lines. However, the global economic slowdown and reduced machinery industry investment are significant barriers. Additionally, the high initial investment required for smart conveyance systems compared with traditional conveyors presents a challenge to the industry.
The smart conveyance technology market is also being shaped by advancements in digitalization and automation. As industries increasingly adopt smart manufacturing practices, the integration of smart conveyance systems into production lines is becoming more prevalent. These systems offer enhanced precision and flexibility, allowing manufacturers to optimize their operations and improve overall efficiency. This trend is particularly evident in sectors such as automotive, electronics, and pharmaceuticals manufacturing, where the demand for higher-speeds, and more accurate material handling is critical.
APAC drives smart conveyance market growth
The APAC region, particularly China, Japan, and South Korea, is expected to lead market growth over the five-year forecast period, driven by growth in the battery and semiconductor industries. The EMEA region has a more balanced industry landscape, with significant contributions from the medical devices, pharmaceuticals, and food & beverage sectors. In the Americas, the warehousing sector was the largest customer for linear smart conveyance systems in 2023, with promising growth prospects despite a short-term decline.
Tim Dawson, Vice President of Research – Industrial Automation at Interact Analysis, comments: “Despite short-term economic challenges, the long-term outlook for smart conveyance technology remains robust, with substantial opportunities across various industries, particularly in battery manufacturing and electronics. Our latest comprehensive analysis highlights in detail the transformative potential of both linear and planar systems, underscoring their critical role in the future of industrial automation.”
About the report
A topical report investigating innovative smart tracks and carriages, sometimes called independent carts, flexible transport systems or multi-carrier motion systems.
The report is built through extensive primary research and supplier reporting and utilizes data from Interact Analysis’ “Manufacturing Industry Output Tracker (MIO)” – highly regarded for its industry forecasts by country, which inform the forecasts at a country-level.
About Interact Analysis
With over 200 years of combined experience, Interact Analysis is the market intelligence authority for global supply chain automation. Our research covers the entire automation value chain – from the technology used to automate factory production, through inventory storage and distribution channels, to the transportation of the finished goods. The world’s leading companies trust us to surface robust insights and opportunities for technology-driven growth. To learn more, visit www.interactanalysis.com.
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