Automated Storage and Retrieval System Market Size & Share


Automated Storage and Retrieval System Market

The Automated Storage and Retrieval System Market size was valued at USD 6,900 Million in 2019 and is anticipated to grow at a CAGR of 8% over the forecast period (2020-2027).

The factors driving the growth of Automated Storage and Retrieval System Market includes growing demand for Automated Storage and Retrieval System in manufacturing and distribution facilities, increasing labor cost and growing sales in e-commerce industry. As per IBEF’s Report, the E-commerce market will become the third largest with valuation of US$ 350 billion by 2030, which will increase the Automated Storage and Retrieval System Market size in India. The emerging need for automation in industrial sectors to enhance the manufacturing capabilities and growing focus on improving the workplace safety, are further supplementing the growth of Automated Storage and Retrieval System Market.

However, the growth of Automated Storage and Retrieval System Market is hindered due to high initial capital cost for installation of Automated Storage and Retrieval Systems (ASRS) and inadequate skilled workforce.

Type: Segment Analysis

Based on the type, the autostore segment is anticipated to grow at a faster CAGR over the forecast. The growing demand for ASRS in managing material flow, along with its ability to enhance product throughput and providing real-time management data, are some of the factors accelerating the growth of the segment.

Function: Segment Analysis

Based on the function, the storage segment is expected to expand at a significant CAGR over the forecast period. The increasing use of ASRS in end-use industries such as healthcare, food & beverages and automotive, along with its ability to enhance the storage capacity of the manufacturing plant, are some of the factors augmenting the market growth.

Industry: Segment Analysis

Based on the industry, the retail segment is projected to dominate the market over the forecast period. The rising use of ASRS to monitor product inventory, its ability to save time and growing emphasis on enhancing the overall costumer experience around the world, are some of the factors pushing the growth of the segment.

Regional: Segment Analysis

Based on the region, Europe is estimated to dominate the market during the forecast period due to the presence of major key players, increasing investments in automated material handling equipment, along with increasing labor cost. The automotive industry in Germany is the biggest in the World, which will increase the demand for ASRS in the coming years. 

Market Segmentation:

Global Automated Storage and Retrieval System (ASRS) Market by Type          

  • Unit Load
  • Mini Load
  • Vertical Lift Module
  • Carousel
    • Vertical Carousel
    • Horizontal Carousel
  • Mid Load
  • Autostore

Global Automated Storage and Retrieval System (ASRS) Market by Function

  • Storage
  • Order Picking
  • Distribution
  • Assembly
  • Kitting
  • Others

Global Automated Storage and Retrieval System (ASRS) Market by Industry

  • Automotive
  • Metals & Heavy Machinery
  • Food & Beverages
  • Chemicals
  • Healthcare
  • Semiconductors & Electronics
  • Retail
  • Aviation
  • E-Commerce
  • Others

Global Microgrid Controller Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

 About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com

Location: United States

Comments

Post a Comment

Popular posts from this blog

Seizing the Europe Smart Home Market Opportunity

Image
 The Europe smart home market presents a vast and promising opportunity for businesses and consumers alike. With advancements in technology, changing lifestyles, and increasing awareness about energy efficiency, the smart home industry in Europe is ripe with potential for growth and innovation. The opportunity in the Europe smart home market stems from several key factors. Firstly, the region boasts a large and affluent consumer base that is increasingly embracing connected technology to enhance their lifestyles. From smart thermostats and lighting systems to security cameras and voice-controlled assistants, the demand for smart home devices is on the rise across the continent. Moreover, supportive regulatory initiatives and incentives aimed at promoting energy efficiency and sustainability are creating a conducive environment for the adoption of smart home technology in Europe. Tax incentives, rebates, and subsidies for energy-efficient home upgrades are encouraging homeowners to inv
Read more

Unlocking Opportunities: GCC Medical Packaging Market Growth in 2024

Image
The GCC medical packaging market is poised for substantial growth in 2024, driven by factors such as technological advancements, increasing healthcare spending, and a focus on patient safety. The region's growing population, coupled with rising demand for quality healthcare services, is fueling the expansion of the medical packaging sector. Let's explore the key drivers and opportunities contributing to the growth of the GCC medical packaging market this year. One of the primary drivers of market growth is the continuous innovation in medical packaging technologies. Companies are investing in advanced packaging materials, designs, and functionalities to meet the evolving needs of healthcare providers and patients. Smart packaging solutions equipped with sensors, RFID tags, and tracking capabilities are enhancing product safety, supply chain visibility, and real-time monitoring. This technological progress is driving the adoption of intelligent packaging solutions and fueling m
Read more

Riding the Wave: India Wireless Earphone Market Surges Amidst Growing Demand

Image
 The India Wireless Earphone Market is witnessing remarkable growth, buoyed by an increasing demand for wireless audio solutions and a shift towards a wireless lifestyle. With consumers seeking convenience, mobility, and superior audio quality, wireless earphones have emerged as a must-have accessory in today's digital age, driving significant market expansion. One of the key drivers of growth in the India Wireless Earphone Market is the rising penetration of smartphones and smart devices. With smartphone ownership becoming ubiquitous across urban and rural areas, there is a growing need for wireless earphones that complement these devices seamlessly. As consumers look for hassle-free connectivity and on-the-go audio solutions, the demand for wireless earphones continues to surge, fueling market growth. Moreover, technological advancements in wireless audio technology are driving market expansion. Innovations such as true wireless earbuds, active noise cancellation, and advanced B
Read more