LONDON–(BUSINESS WIRE)–The global automated storage and retrieval systems market is expected to grow by USD 2.32 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Moreover, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 5%. Request free sample pages
Read the 120-page report with TOC on “Automated Storage and Retrieval Systems Market Analysis Report by End-user (E-commerce and 3PL, Automotive, Food and beverages, Retail, and Other end-users) and Geography (Europe, APAC, North America, South America, and MEA), and the Segment Forecasts, 2020-2024”.
https://www.technavio.com/report/automated-storage-and-retrieval-systems-market-industry-analysis
The market is driven by the growth of e-commerce market. In addition, the growing trend of warehouse rentals is anticipated to boost the growth of the Automated Storage and Retrieval Systems Market.
The global e-commerce market is witnessing growth due to the rising purchasing power parity among the global 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 is expected to drive market growth during the forecast period.
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Major Five Automated Storage and Retrieval Systems Companies:
BEUMER GROUP
BEUMER GROUP 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
Daifuku 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
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
SSI SCHAEFER offers products and services through the following product segments: Storage, Conveying and transport, Picking, Handling, and Interlinked workstations.
Vanderlande Industries
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 Market End-user Outlook (Revenue, USD bn, 2020-2024)
- E-commerce and 3PL – size and forecast 2019-2024
- Automotive – size and forecast 2019-2024
- Food and beverages – size and forecast 2019-2024
- Retail – size and forecast 2019-2024
- Other end-users – size and forecast 2019-2024
Automated Storage And Retrieval Systems Market Geography Outlook (Revenue, USD bn, 2020-2024)
- Europe – size and forecast 2019-2024
- APAC – size and forecast 2019-2024
- North America – size and forecast 2019-2024
- South America – size and forecast 2019-2024
- MEA – size and forecast 2019-2024
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