LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global automated storage and retrieval systems market since 2017 and the market is poised to grow by USD 2.96 billion during 2019-2023, progressing at a CAGR of over 7% during the forecast period. Request Free Sample Pages
Read the 134-page research report with TOC on "Automated Storage and Retrieval Systems Market Analysis Report by End-users (E-commerce and 3PL, Automotive, Food and beverage, Retail, and Others), by Geography (the Americas, APAC, and EMEA), and Segment Forecasts, 2019 - 2023."
The market is driven by the growth of e-commerce market in North America. In addition, the growing trend of warehouse rentals is anticipated to further boost the growth of the automated storage and retrieval systems market.
The e-commerce market in North America is witnessing growth due to the rising purchasing power parity among the US population and growing Internet penetration. In addition, the global m-commerce market is also growing due to the availability of multiple payment methods. The growth in these two industries is driving the demand for automated storage and retrieval systems to boost throughput of market players at reduced operating costs. These systems help various e-commerce players such as Walmart and Amazon to ensure timely delivery of products and handle the increasing number of stock keeping units. Thus, the growth of e-commerce and m-commerce market in regions such as North America is expected to drive market growth during the forecast period.
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Major Five Automated Storage and Retrieval Systems Market Companies:
BEUMER GROUP is headquartered in Germany and operates the businesses under various -product segments such as Conveying technology, Loading technology, Filling technology, Palletizing technology, Packaging technology, Airport baggage handling system, and Logistic system. The company provides various automated storage and retrieval system offerings in the global automated storage and retrieval systems market.
Daifuku is headquartered in Japan and offers products through the following business units: Factory and Distribution Automation, e-Factory Automation, Automotive Factory Automation, Airport Technologies, Auto Washing Technologies, and Contec.
KION GROUP is headquartered in Germany and has business operations under various business segments, namely Industrial trucks and services, Supply chain solutions, and Corporate services. The company provides various automated storage and retrieval system offerings.
SSI SCHAEFER is headquartered in France and offers products and services through the following product segments: Storage, Conveying and transport, Picking, Handling, and Interlinked workstations.
Vanderlande Industries is headquartered in the Netherlands and offers products and services through the following business segments: Airports, Warehousing, Parcel, and Life-cycle services. The company offers an integrated system solution for sorting parcels.
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Automated Storage and Retrieval Systems End-users Outlook (Revenue, USD Million, 2019 - 2023)
- E-commerce and 3PL
- Food and beverage
Automated Storage and Retrieval Systems Regional Outlook (Revenue, USD Million, 2019 - 2023)
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