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

According to The Business Research Company’s Automated Storage And Retrieval System Global Market Report 2023, The global automated storage and retrieval system market is expected to grow from $8.85 billion in 2022 to $9.61 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The automated storage and retrieval system market size is expected to grow to $13.19 billion in 2027 at a CAGR of 8.2%.

Western Europe was the largest region in the automated storage and retrieval system market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period.

Automated Storage And Retrieval System Market Driver
The growing demand for automation is propelling the automated storage and retrieval system industry forward. Automation is the use of technologies to produce and distribute goods and services with minimal human interaction. To eliminate errors, reduce repetitive activities, and lower processing costs, the majority of industrial sectors are implementing automated systems such as automated storage and retrieval systems. The growing demand for automation in industries is directly encouraging the usage of automated storage and retrieval systems. According to the World Economic Forum’s Future of Jobs Survey 2020, 50% of business leaders plan to automate repetitive tasks, and 85% of business leaders believe that automation will give them more time to focus on the company’s most important goals. As a result, the growing demand for automation is propelling the automated storage and retrieval system market forward.

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Key Automated Storage And Retrieval System 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

Automated Storage And Retrieval System Market Prominent 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.

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Prominent Automated Storage And Retrieval System Market Trend
The market for automated storage and retrieval systems is being shaped by technological breakthroughs. To reduce errors, repetitive activities, and processing costs, major market participants are creating improved automated storage and retrieval systems with revolutionary technologies for industrial usage. Honeywell International Inc., for example, launched a new automated storage and retrieval system with machine learning and artificial intelligence in November 2021 to automate complex tasks in distribution centres, warehouses, and manufacturing sites to process, receive, and fill orders at a faster and more accurate pace. These include the Smart Flexible Depalletizer, which helps to automate the human process of unloading pallets.

The Automated Storage And Retrieval System Global Market Report 2023  provides comprehensive insights on the automated storage and retrieval system market size, trends and drivers, opportunities, strategies, and competitor 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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