IMARC Group has recently released a new research study “Automated Storage and Retrieval Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What Are The Growth Prospects Of The Automated Storage and Retrieval Industry?
The global automated storage and retrieval market size reached US$ 19.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 29.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.9% during 2023-2028.
What is a Automated Storage and Retrieval?
Automated storage and retrieval system (ASRS) represents a computer-controlled device that places and recovers loads from specified storage locations accurately in a facility. It comprises carousels, vertical lift modules (VLMs), shuttles, cranes, micro-loads, mini-loads, unit-loads, warehouse execution software (WES), warehouse management software (WMS), etc. In line with this, automated storage and retrieval system offers various benefits, such as reclaiming unused vertical space, increasing inventory storage density, improving ergonomics and safety, enhancing throughput, reducing labor costs, efficient use of floor space, etc. Consequently, it finds wide-ranging applications in numerous industries, including automotive, aviation, chemical, e-commerce, food and beverage (F&B), healthcare, etc.
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What Are The Key Factors Driving In The Automated Storage and Retrieval Market?
The escalating demand for precise, fast, and efficient fulfillment of in-store retailing to ensure customer satisfaction is primarily driving the automated storage and retrieval system market. Additionally, the emerging trend of industrial automation for improving productivity and quality while reducing errors, increasing safety, adding flexibility to the manufacturing process, etc., is further catalyzing the market growth. Besides this, the widespread adoption of automated storage and retrieval system in the e-commerce sector, owing to ease of selling internationally, retargeting customers, personalization of the buying experience, etc., is acting as another significant growth-inducing factor.
Moreover, the rising utilization of automated storage and retrieval systems by small and mid-size enterprises (SMEs) to reduce human interaction is positively influencing the global market. Apart from this, continuous technological advancements in ASRS assisted by cutting-edge sensors are also stimulating the market growth. Furthermore, extensive investments by government bodies in the development of digital infrastructures are anticipated to fuel the automated storage and retrieval system market over the forecasted period.
Who Are The Key Players/Companies In The Global Automated Storage and Retrieval Market?
Beumer Group GmbH & Co. KG, Daifuku Co. Ltd., Dematic (Kion Group AG), Honeywell International Inc., Kardex Group, Knapp AG, Mecalux S.A., Murata Machinery Ltd., Schaefer Systems International Pvt Ltd, System Logistics S.p.A. (Krones AG), TGW Logistics Group, Toyota Industries Corporation and Viastore Systems.
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Type:
Vertical Lift ModulesCarouselsHorizontal CarouselsVertical CarouselsCrane-BasedVertical Buffer ModulesRobotic ShuttlesFloor RobotsBreakup by Load:
Unit-Load ASRSFixed-Aisle ASRSMovable-Aisle ASRSMini-Load ASRSMicro-Load ASRSBreakup by Application:
StorageOrder PickingKittingBufferingOthersBreakup by End User:
AutomotiveSemiconductor and ElectronicsGeneral ManufacturingRetail and Warehousing or LogisticsAviationChemicals, Rubber and PlasticsHealthcare and PharmaFood and BeveragePostal and ParcelOthersBy Geography:
North America (United States, Canada)Europe (Germany, France, United Kingdom, Italy, Spain, Others)Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)Latin America (Brazil, Mexico, Others)Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)Ask An Analyst: https://www.imarcgroup.com/request?type=report&id=6044&flag=C
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