The global automated storage and retrieval system market size is expected to grow from $8.15 billion in 2021 to $8.8 billion in 2022 at a compound annual growth rate (CAGR) of 8.0%. The global automated storage and retrieval systems market size is expected to grow to $12 billion in 2026 at a CAGR of 8.1%.
What is the Global Automated Storage and Retrieval System Market?
The automated storage and retrieval system market consists of sales of automated storage and retrieval system by entities (organizations, sole proprietors, partnerships) that store, buffer, and retrieve products in warehouses and distribution centers. Automated storage and retrieval systems are computer-controlled systems that automatically place and retrieve loads from set storage locations in a facility and provide products security, eliminate damage, and increase productivity, speed, and accuracy.
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What drives the Global Automated Storage and Retrieval System Market?
The increasing demand for automation is significantly driving the growth of the automated storage and retrieval system market. Automation refers to the application of technologies with minimal human intervention for producing and delivering goods and services. The majority of the industrial sectors are adopting automated systems such as automated storage and retrieval system to cut back errors, reduce repetitive tasks, and lower processing costs. The increasing demand for automation in the industries is directly promoting the increased use of automated storage and retrieval system. For instance, according to the Future of Jobs Survey 2020, World Economic Forum, an international non-governmental and lobbying organization, 50% of business leaders are planning to adopt automation of repetitive tasks and 85% of business leaders said that automation will give more time to focus on the important goals to the company. Therefore, the increase in demand for automation is driving the growth of the automated storage and retrieval system market.
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Global Automated Storage and Retrieval System Market Segments
The global automated storage and retrieval system market is segmented:
By Type: Unit Load, Mid Load, Vertical Lift Module, Carousel, Mini Load
By Function: Distribution, Storage, Assembly, Kitting, Order Picking
By End-User: Automotive, Semiconductor and Electronics, General Manufacturing, Retail and Warehousing or Logistics, Aviation, Chemicals, Rubber, and Plastics, Healthcare and Pharma, Food and Beverage, Postal and Parcel
By Geography: The regions covered in the automated storage and retrieval system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Automated Storage and Retrieval System Global Market Report 2022provides market size and growth forecasts for the global automated storage and retrieval system market, global automated storage and retrieval system market share, automated storage and retrieval system market segments and geographies, automated storage and retrieval system market competitive landscape including leading competitors’ revenues, profiles and market shares. The automated storage and retrieval system market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Automated Storage and Retrieval System Industry Playersinclude Schaefer Systems International Pvt Ltd, Beumer Group, Daifuku Co. Ltd., Dematic, Honeywell International Inc, Kardex, Knapp AG, Murata Machinery Singapore Pte. Ltd., TGW Logistics Group, Swisslog Holding AG, Mecalux, System Logistics S.p.A., Vanderlande Industries, Westfalia Technologies, Inc. and KUKA Deutschland GmbH. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
