The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Automated Storage And Retrieval System Global Market Report 2023, the automated storage and retrieval system market is expected to show significant growth in the forecast period.

Key insights from the automated storage and retrieval system market forecast include:

1. Market Size

The global automated storage and retrieval system market is projected to increase from $8.85 billion in 2022 to $9.61 billion in 2023, with an 8.5% CAGR. By 2027, it’s anticipated to reach $13.19 billion, growing at an 8.2% CAGR.

2. Major Driver

The increasing demand for automation is significantly driving the growth of the automated storage and retrieval system market. For instance, according to the Future of Jobs Survey 2020, World Economic Forum, an international non-governmental and lobbying organization, 50% of business leaders are planning to adopt automation of repetitive tasks and 85% of business leaders said that automation will give more time to focus on the important goals to the company. Therefore, the increase in demand for automation is driving the growth of the automated storage and retrieval system market.

View More On The Automated Storage And Retrieval System Market Report 2023 – https://www.thebusinessresearchcompany.com/report/automated-storage-and-retrieval-system-global-market-report

3. Key Trend

Technological advances shape the automated storage and retrieval system market. Leading players innovate systems for industrial use, reducing errors and costs. Honeywell introduced an AI-driven system in November 2021 to automate complex tasks in distribution centers, warehouses, and manufacturing sites, enhancing order processing speed and accuracy. This includes the Smart Flexible Depalletizer for pallet unloading automation.

4. Major Players

Major players in the automated storage and retrieval system market are Schaefer Systems International Pvt Ltd., Beumer Group, Daifuku Co. Ltd., Dematic, Honeywell International Inc., Kardex, Knapp AG, Murata Machinery Singapore Pte. Ltd., TGW Logistics Group, Swisslog Holding AG, Mecalux, System Logistics S.p.A., Vanderlande Industries, Westfalia Technologies, Inc. and KUKA Deutschland GmbH.

5. Top Market Segments

The global automated storage and retrieval system market is segmented –

1) By Type: Unit Load, Mid Load, Vertical Lift Module, Carousel, Mini Load

2) By Function: Distribution, Storage, Assembly, Kitting, Order Picking

3) By End User: Automotive, Semiconductor And Electronics, General Manufacturing, Retail And Warehousing or Logistics, Aviation, Chemicals, Rubber, And Plastics, Healthcare And Pharma, Food And Beverage, Postal And Parcel

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The Automated Storage And Retrieval System Global Market Report 2023  provides an in-depth analysis on the automated storage and retrieval system market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the automated storage and retrieval system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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