Automated Storage and Retrieval System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 - ResearchAndMarkets.com
The global automated storage and retrieval system market reached a value of US$ 18.03 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 27.68 Billion by 2027, exhibiting a CAGR of 7.41% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor
DUBLIN--(BUSINESS WIRE)--Sep 22, 2022--
The "Automated Storage and Retrieval System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global automated storage and retrieval system market reached a value of US$ 18.03 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 27.68 Billion by 2027, exhibiting a CAGR of 7.41% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Automated storage and retrieval system (ASRS) is a computer-controlled device that places and recovers loads from specified storage locations accurately in a facility. It consists of shuttles, cranes, carousels, vertical lift modules (VLMs), micro-loads, mini-loads, unit-loads, warehouse execution software (WES) and warehouse management software (WMS).
It offers several advantages, such as efficient use of the floor space, reclaiming unused vertical space, increasing inventory storage density, improving ergonomics and safety, enhancing throughput, and reducing labor costs. As a result, it finds extensive applications in the aviation, automotive, chemical, e-commerce, food and beverage (F&B), and healthcare industries.
Automated Storage and Retrieval System Market Trends:
At present, there is a rise in the demand for fast, precise, and efficient fulfillment of in-store retailing to ensure customer satisfaction across the globe. This, along with the growing industrial automation for improving productivity and quality while increasing safety, reducing errors, and adding flexibility to the manufacturing process, represents one of the key factors driving the market. Moreover, there is a rise in technological advancements in ASRS assisted by cutting-edge sensors.
This, coupled with the escalating demand for enhanced storage systems in various industries, is propelling the growth of the market. In addition, governments of several countries are extensively investing in developing digital infrastructure, which is positively influencing the market.
Besides this, the increasing order volume in the e-commerce sector due to ease of selling internationally, retargeting customers, and personalization of the buying experience is offering lucrative growth opportunities to industry investors. Apart from this, the increasing utilization of ASRS by small and mid-size enterprises (SMEs) to reduce human interaction is bolstering the growth of the market.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global automated storage and retrieval system market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, load, application and end user.
Breakup by Type:
Breakup by Load:
Breakup by Application:
Breakup by End User:
Breakup by Region:
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
5 Global Automated Storage and Retrieval System Market
6 Market Breakup by Type
7 Market Breakup by Load
8 Market Breakup by Application
9 Market Breakup by End User
10 Market Breakup by Region
11 SWOT Analysis
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Price Analysis
15 Competitive Landscape
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/obrsqw
View source version on businesswire.com:https://www.businesswire.com/news/home/20220922005571/en/
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SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/22/2022 08:11 AM/DISC: 09/22/2022 08:11 AM
http://www.businesswire.com/news/home/20220922005571/en
