DUBLIN, January 26, 2023 /PRNewswire/ — The “Automated Storage and Retrieval Systems Market – Forecast 2022 to 2027” report has been added to from ResearchAndMarkets.com offer.
The automated storage and retrieval systems market is expected to grow at a CAGR of 7% during the forecast period to reach US$9.814 billion by 2027, US$6.114 billion in 2020.
Automated Storage and Retrieval Systems (ASRS) control, handle, store and retrieve materials with precision and speed. They vary from small automated systems to larger computer controlled systems that are integrated into a manufacturing and distribution process.
Generally, AS/RS are computer controlled and are used for automated deposit and retrieval of loads to and from different locations. They come in different types, for example, unit load machines, mini-loaders that handle lighter loads, vertical lifting modules, shuttles for automated handling of cartons and trays, horizontal and vertical carousels and cube-based storage that uses robot technology. to store and retrieve data.
An increase in industrial and technological developments and online retailing is expected to drive the AS/RS market.
ASRS is widely used in the warehousing, manufacturing, food and beverage, chemical, and healthcare industries. ASRS increases inventory capacity and reduces labor costs, and modular designs provide maximum flexibility, increased speed and accuracy, and product safety. Technological developments have boosted the ASRS market, for example, the invention of robotic systems. Both AI systems and computer-controlled systems contributed to the demand for ASRS. Industrial development and increase in online retail and shopping is a result of increase in living standard of people, preference for precise and fast working industries has increased in ASRS market.
ASRS is widely used in warehouses that facilitate the movement of pallets and packages and ensure the storage of bulk goods. It has a computer management system that allows operators to store, retrieve and track inventory. New developments such as warehouse management systems which provided quick reports and statistics on the supply chain and inventory, automated picking technology which reduced the cost of labor and provided automated voice picking facilities, and the implementation of IoT that reduces the risk of accidents and errors in the supply chain by early detection using sensors capable of monitoring temperature and moisture and inventory control.
Conversely, installation and operation issues that require high technical skills and training, high investment requirement, high maintenance and occasional repairs are factors that hinder the growth of the storage market and automated recovery.
Key development
- Stow Group – one Belgium-an industrial solutions provider acquired Raiser Robotics – a German start-up specializing in automated storage and retrieval systems (ASRS) in September 2021. The acquisition allowed Stow to expand a new unit solely dedicated to warehouse automation called Stow Robotics. Stow Group has consolidated all warehouse automation solutions into the Stow Robotics unit.
- Kion Group, Dematic’s parent company, has acquired Digital Applications International – a UK-based software company specializing in logistics and automation solutions in June 2020. The acquisition allowed Dematic to expand its intralogistics software offerings that support the movement, storage and distribution of goods to businesses. Additionally, Digital Applications International’s commodity warehouse management system provided IQ automation services to Dematic.
During the forecast period, North America is expected to register a high market share in the automated storage and retrieval system market.
North America is capturing major market share in the automated storage and retrieval systems market owing to its growing requirements in supply chain and logistics, manufacturing, and trading. According to the Federal Reserve system UNITED STATESthe index of industrial production in September 2022 was 105.2, an increase of 0.4% over previous estimates. The manufacturing sector in industrial production grew by 2.9% with an index of 102.8 in September 2022.
Some market leaders in North America are Material Handling Systems, Dematic, Honeywell Intelligence, Muratec Machinery Ltd, Beumer Group and others. Some emerging new technology products such as AI and robotic automated systems have contributed to the demand for automated storage retrieval systems. For example, Honeywell International Inc launched an automated storage and retrieval system that uses artificial intelligence and machine learning for warehouse and distribution center operators and manages their e-commerce systems.
Additionally, a ChinaNew York-based automatic mobile robot provider has deployed and expanded a warehouse project named Hiocloud in New Jersey, United States in August 2022. It provides an e-commerce G platform and fulfillment services. It has focused on reducing errors in the movement of pallets and the order picking process in warehouses.
Market segmentation :
By product type
- Minimum load
- Carousels
- VLM
- AS/RS robotics
- Others
Per end user
- Manufacturing
- Health care
- Chemical
- Paper
- Food and drink
- Storage
- Others
By geography
- North America
- UNITED STATES
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- UK
- Italy
- Others
- The Middle East and Africa
- Saudi Arabia
- Israel
- Others
- Asia Pacific
- China
- Japan
- South Korea
- India
- Indonesia
- Taiwan
- Others
Main topics covered:
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. GLOBAL AUTOMATED STORAGE AND RECOVERY SYSTEMS MARKET BY PRODUCT TYPE
6. END USER OF GLOBAL AUTOMATED STORAGE AND RECOVERY SYSTEMS MARKET
7. GLOBAL AUTOMATED STORAGE AND RECOVERY SYSTEMS MARKET BY GEOGRAPHY
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
9. COMPANY PROFILES
Companies cited
- Daifuku Co.,Ltd
- Swisslog Holding AG
- Siemens AG
- Dematic
- BEUMER Group
- Konecranes plc
- Element Logic
- Kardex
For more information about this report visit https://www.researchandmarkets.com/r/fvg2db-storage?w=5
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