Automated Storage and Retrieval Systems : Global Market Intelligence ( 2023-2030 )

REPORT OBJECTIVES

The report " Automated Storage and Retrieval Systems : Global Market Intelligence ( 2023-2030 ) " provides market intelligence on the different market segments, based on Type, Industry, Region, Company etc. Market size and forecast (2020-2030) has been provided in the report. The primary objectives of this report are to provide 1) comprehensive global market intelligence through detailed segmentation, 2) market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends, 3) detailed analysis of current dynamics and trends, key market players, and strategies in the market, 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants, 5) provide emerging opportunities in the market and the future impact of major drivers and restraints of the market and, 6) support decision makers in making cost-effective business decisions.

RESEARCH METHODOLOGY

In our market size and forecast determination efforts, an extensive secondary research was initially completed to gain a good perspective of the market in each region. Extensive primary research was also carried out by interviewing the key executives from the industry. These interviews helped us to fill-in the data gaps after secondary research. Several secondary sources such as encyclopedia, directories, and databases have been used to identify and collect information useful for this extensive techno-commercial study. The respondents - selected experts from manufacturers and selected suppliers - have been interviewed to obtain and verify critical information as well as to assess the future prospects. The usage of obtained information is based on the perceived reliability by the research team. In many cases, a combination of several sources was used. Sprout Intelligence provides an in-depth analysis of the market segmentation, which is a critical element of the market intelligence reports at Sprout Intelligence.

KEY AUDIENCE

Executives in marketing, strategic planning and new product development will find such discussions in our reports pertinent and useful. Management consultants, investment bankers, manufacturers, distributors, suppliers, and regulatory authorities are amongst our regular clientele served.

DATA SOURCES

The general data sources used in this report are company websites, trade association publications, regulatory authorities, journals, magazines, news websites, press releases, media publications, interaction with industry experts, company executives, research papers, articles, patents, scientific literature, among many others.

KEY FINDINGS FROM THE REPORT

The Automated Storage and Retrieval Systems market was valued at $7,342.5 Million in 2019, and is projected to reach $15,763.6 Million by 2028 growing at a CAGR of 10.37% from 2020 to 2028.

Unit Load AS/ RS segment is expected to be the highest contributor to this market, with $2,230.6 Million in 2019, and is anticipated to reach $4,308.6 Million by 2028, registering a CAGR of 9.07%.

Vertical Carousals segment is anticipated to reach $2,254.1 Million by 2028 with the highest CAGR of 12.22%.

Unit Load AS/ RS and Mini Load AS/ AR segments collectively expected to account for about 54.7% share of the Automated Storage and Retrieval Systems market in 2019, with the former constituting around 30.4% share.

Vertical Carousals and Mini Load AS/ AR segments are expected to witness significant growth rates at a CAGR of 12.22% and 11.42% respectively, during the forecast period.

Presently, share of these two segments is estimated to be around 36.6% in the overall Automated Storage and Retrieval Systems market in 2019, and is anticipated to reach 40.8% by 2028.

The global Automated Storage and Retrieval Systems (AS/RS) market is being propelled by the growing demand for efficient warehouse management solutions, enabling businesses to optimize their storage operations, reduce labor costs, and enhance inventory accuracy.

Moreover, the increasing adoption of e-commerce and the need for streamlined order fulfillment processes are presenting lucrative opportunities for AS/RS providers to cater to the evolving logistics and distribution landscape, driving market growth.

In this dynamic business environment, companies that invest in AS/RS technologies can gain a competitive edge by improving their operational efficiency and meeting the rising customer expectations for faster and more accurate product delivery..