Mainly there are two types of ATC are:-
1) Drum Type
2) Chain Type
Drum Type:-
For holding small number of tools usually not more than 30, it is stored on the periphery of drum and tool search speed is faster in this type of ATC.
Chain Type:-
For more number of tools (40 or more), tools search speed will be less in this type of ATC.
Advantages of ATC:-
1) Lines changed in seconds instead of hours
2) Increase operator safety by changing tool automatically
3) Changes the tool in seconds of time
4) Increase flexibility
Figure of Automatic Tool Changer is shown below:-