Dublin, Jan. 25, 2023 (GLOBE NEWSWIRE) — The “Automated Storage and Retrieval Systems Market – Forecasts from 2022 to 2027” report has been added to ResearchAndMarkets.com’s offering.
The automated storage and retrieval systems market is projected to grow at a CAGR of 7% during the forecast period to reach US$9.814 billion by 2027, from US$6.114 billion in 2020.
Automated Storage and Retrieval Systems (ASRS) control, handle, store, and retrieve materials with accuracy 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 depositing and retrieving loads to and from different locations. They come in different types, for example, Unit Load machines, Mini-Load that handle lighter loads, Vertical lift modules, Shuttles for automated handling of cartons and trays, Horizontal and Vertical Carousels, and Cube-based storage which uses the technology of robots to store and retrieve data.
An increase in industrial and technological developments and online retailing are expected to boost the market for AS/RS.
ASRS is used widely in 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 security. Technological developments have boosted the market for ASRS, for example, invention of robotic systems. AI systems and computer-controlled systems have contributed to the demand for ASRS. Industrial development and increase in online retail and purchase are a result of the increasing standard of living of people, preference for accurate and fast work industries have increased in the ASRS market.
ASRS has wide usage in warehouses that provide easy moving of pallets and packages and provide storage for bulk goods. It has a computer management system that allows operators to store, retrieve and track inventory. New developments such as warehouse management systems that provided quick reports and statistics of the supply chain and inventories, automated picking technology that reduced labor cost and provided voice automated picking facilities, and IoT implementation that reduces the risk of accidents and mistakes in the supply chain by early detection using sensors that can control temperature and moisture and can provide inventory control.
Conversely, installation and operation problems that require high technical skills and training, the requirement of high investment, high maintenance, and occasional repair are factors that hinder the growth of the automated storage and retrieval market.
- Stow Group – a Belgium-based provider of industrial solutions acquired Raiser Robotics – A German Startup that specializes in automated storage and retrieval systems (ASRS) in September 2021. The acquisition enabled Stow to expand a new unit solely dedicated to warehouse automation called Stow Robotics. Stow Group regrouped all warehouse automation solutions in the Stow Robotics Unit.
- Kion Group, the parent company of Dematic acquired Digital Applications International – A UK-based software company specializing in logistics and automated solutions in June 2020. The acquisition enabled Dematic to expand its Intralogistics software offerings that support the movement, storage, and distribution of goods to businesses. Additionally, Digital Applications International’s core product warehouse management system provided IQ automation services to Dematic.
During the forecast period, North America is expected to record a high market share in the automated storage and retrieval systems market.
North America captures a significant market share in the automated storage and retrieval systems market due to its increasing requirement in supply chain and logistics, manufacturing and trading. According to Federal Reserve System USA, the industrial production index in September 2022 was 105.2 which was a 0.4% increase from 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 new emerging technological products such as AI and robotic automated systems have contributed to the demand for automated storage retrieval systems. For example, Honeywell International Inc launched automated storage and retrieval system that used artificial intelligence and machine learning for warehouse and distribution center operators and manage their e-commerce systems.
Furthermore, a China-based provider of automatic mobile robots deployed and expanded a warehouse project named Hiocloud in New Jersey, USA in August 2022. It provides an e-commerce fulfillment G platform and services. It focused on reducing errors in the pallet movement and picking process in warehouses.
By Product Type
- Mini Load
- Robotics AS/RS
- Food and Beverage
- North America
- South America
- United Kingdom
- The Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
Key Topics Covered:
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. GLOBAL AUTOMATED STORAGE AND RETRIEVAL SYSTEMS MARKET BY PRODUCT TYPE
6. GLOBAL AUTOMATED STORAGE AND RETRIEVAL SYSTEMS MARKET END-USER
7. GLOBAL AUTOMATED STORAGE AND RETRIEVAL SYSTEMS MARKET BY GEOGRAPHY
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
9. COMPANY PROFILES
- Daifuku Co., Ltd
- Swisslog Holding AG
- Siemens AG
- BEUMER Group
- Konecranes plc
- Element Logic
For more information about this report visit https://www.researchandmarkets.com/r/yfe9t6-storage?w=12
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