Insights on the Worldwide Automated Storage and Retrieval System Market to 2027 - Opportunity Analysis and Industry Forecast - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Automated Storage and Retrieval System Market by Type, Function, Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.

According to this report the automated storage and retrieval systems market size was valued at $7,351 million in 2019, and is projected to reach $12,928 million by 2027, growing at a CAGR of 7.2% from 2020 to 2027.

Automated storage and retrieval systems are computer-controlled systems that assist in delivering materials safely to the desired destination at the right time and at a minimized cost. These systems improve the efficiency of transportation, storage, and retrieval of materials. The market is mainly driven by technological advancements in areas such as robotics, wireless technologies, and driverless vehicles; rise in need for automation in industries; and increased industrial production in emerging nations such as China, India, and Brazil. However, high initial capital investment limits the growth of the automated storage and retrieval systems market to a certain extent.

Moreover, the automated storage and retrieval systems market is analyzed with respect to various system types provided, such as unit load storage and retrieval system and bulk load storage and retrieval system. This is because these material handling systems are cost-effective and can handle several items simultaneously, thereby reducing the number of trips and time required for loading and unloading.

Furthermore, Europe dominates the automated storage and retrieval systems market growth in terms of revenue generation, attributed to heavy adoption among the automotive and e-commerce industry, followed by North America. Recent growth in automotive production in Europe as well as government regulations for cleanliness and hygiene in food & beverage industry fuel the installation of automated systems. Prominent players such as Kion Group AG, Kuka AG, and others are developing unit load automated guided vehicle with increased load capacity, safety, better space utilization, and high-efficiency permanent batteries. However, Asia-Pacific and LAMEA are expected to witness potential growth owing to rise in automotive production and modernization of facilities such as manufacturing plants.

Key Benefits

• The study provides an in-depth analysis of the current & future trends of the market to elucidate the imminent investment pockets.
• Information about key drivers, restraints, and opportunities and their impact analysis on the global automated storage and retrieval system market share is provided.
• Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the automated storage and retrieval system industry.
• The quantitative analysis of the market from 2019 to 2027 is provided to determine the global automated storage and retrieval system market potential.

Key Findings

1. By type, the unit load segment dominated the automated storage and retrieval systems market. However, the mini load segment is expected to exhibit significant growth during the forecast period in the automated storage and retrieval systems industry.
2. By function, the storage segment dominated the automated storage and retrieval systems market share in 2019. However, the distribution segment is expected to exhibit significant growth during the forecast period.
3. By industry vertical, the automotive sector generated the highest revenue in 2019. However, the food & beverages sector is expected to witness a considerable growth in the near future.
4. By region, Asia-Pacific market trends is expected to witness significant growth in terms of CAGR in the coming years.

Market Dynamics

Drivers

• Surge in Demand for Asrs in Aviation Industry
• Rise in Need to Reduce Costs and Achieve Optimum Utilization of Space
• Increase in Implementation of Asrs in Distribution Supply Chain and Inventory Management

Restraints

• Huge Initial Investment and Difficult to Customize
• Scarcity of Skilled Labor and Technical Expertise

Opportunities

• Increase in Automation in E-Commerce Across the Globe
• Growth of Aviation Industry in Asia-Pacific Region

Companies Mentioned

• Bastian Solutions Inc.
• Beumer Group
• Daifuku Co. Ltd.
• Dematic
• Honeywell Intelligrated
• Kardex Group
• KNAPP AG
• Murata Machinery Ltd.
• SSI Schaefer Group
• TGW Logistics Group.

For more information about this report visit https://www.researchandmarkets.com/r/5xdxxw