Automated Storage and Retrieval System Market to Surpass 15.88 Million by 2030 Drives Due to the Growing Demand for Heightened Productivity
SkyQuest projects that the automated storage and retrieval system market will attain a value of USD 15.88 million by 2030, with a CAGR of 7.1% over the forecast period (2023-2030). The growing demand for heightened productivity and efficiency across the supply chain, coupled with the increasing emphasis on utilizing human resources and space optimally, is expected to drive the expansion of the automated storage and retrieval system market. Businesses can unlock the potential for greater operational efficiency, improved inventory management, and enhanced overall performance in their material handling operations by embracing automation.
Westford, USA, Aug. 10, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the global automated storage and retrieval system market is experiencing a significant growth driven by the increasing demand for consumer electronics worldwide. In addition, the continuous development and advancements in technology, particularly in consumer electronic products such as artificial reality, the Internet of Things (IoT), and virtual reality, have fueled the demand for efficient storage and retrieval systems.
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- Pages – 157
- Tables – 132
- Figures – 77
Automated storage and retrieval systems (ASRS) revolutionize the items that are stored and retrieved by leveraging robotics and advanced material-handling equipment. With the capability to automate these processes, businesses can realize numerous benefits, such as cost savings on labor, accelerated turnaround times, reduced human errors, and enhanced storage capacity through vertical storage solutions in the automated storage and retrieval system market.
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Prominent Players in Automated Storage and Retrieval System Market
- Daifuku Co., Ltd.
- Kardex Group
- Dematic
- Swisslog Holding AG
- Mecalux SA
- Vanderlande Industries
- Murata Machinery Ltd.
- System Logistics Spa
- TGW Logistics Group GmbH
- SSI Schaefer AG
- Beumer Group GmbH & Co. KG
- Honeywell Intelligrated
- Westfalia Technologies, Inc.
- Knapp AG
- Bastian Solutions, LLC
- Siemens Logistics GmbH
- Intelligrated, Inc.
- Flexcon Company, Inc.
- Axium Solutions, Inc.
- Viastore Systems, Inc.
Unit Load Segment is expected to grow the Market Due to Rising Adoption Across Various Industries
Unit load segment emerged as the leader in the automated storage and retrieval system market. Unit load ASRSs garnered the dominant market share due to their widespread adoption across various industries. These systems are particularly favored for storing and managing large-size items efficiently. One of the key advantages of unit load ASRSs is their ability to provide real-time inventory information, enabling businesses to have precise visibility and control over their stock levels.
The markets in North America have established themselves as early adopter of emerging technologies, driven by favorable government policies to boost innovation and strengthen infrastructure capabilities. This proactive approach has positioned the region at the forefront of technological advancements, enabling industries to stay competitive and adapt to evolving automated storage and retrieval system market trends.
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Automotive Segment is Expected to Dominate the Market Due to the Increasing Demand for Electric and Autonomous Vehicles
Automotive segment emerged as the dominant player in the global automated storage and retrieval system market. The automotive sector witnessed significant growth, driven by the increasing demand for electric and autonomous vehicles. This shift in consumer preferences has prompted automakers to ramp up their manufacturing processes, resulting in a higher requirement for automotive spare parts.
Regional markets in Asia-Pacific are anticipated to experience substantial growth in the automated storage and retrieval system market. This projection can be attributed to several factors, including the region’s rapid economic growth, increasing industrialization, and growing adoption of automation across various sectors.
A comprehensive analysis of the major players in the automated storage and retrieval system market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in Automated Storage and Retrieval System Market
- Daifuku, a leading provider of material handling systems, unveiled its plans to establish a manufacturing facility in Telangana, India, with a substantial investment of INR 450 crore (~USD 54.27 million) in 2022. The facility aims to produce advanced intra-logistics equipment, including automated storage and retrieval systems, sorting transfer vehicles, conveyors, and sorters. This strategic move highlights Daifuku’s commitment to expanding its manufacturing capabilities and meeting the growing demand for efficient material handling solutions in the Indian market.
- Recently, Daifuku announced the reopening of HiniArata Kan, one of the most significant full-scale material handling and logistics demo centers worldwide. Located within the company’s manufacturing plant, Shiga Works, the center showcases an impressive range of 54 models of material handling systems and equipment, prominently featuring automated storage and retrieval systems.
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Key Questions Answered in Automated Storage and Retrieval System Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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