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ASRS For Garments On Hangers Market Share, Trend Analysis, Key Drivers, Size And Forecast To 2033
ASRS For Garments On Hangers Market
According to The Business Research Company's, The ASRS for garments on hangers market size has grown strongly in recent years. It will grow from $1.73 billion in 2023 to $1.9 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to rise of retail and e-commerce, growing environmental awareness, demand for tailored storage solutions, increasing emphasis on efficient space utilization and organization within warehouses, rising labor costs.
The ASRS for garments on hangers market size is expected to see strong growth in the next few years. It will grow to $2.6 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to rapid growth of fast fashion necessitates agile and efficient storage solutions, increasing demand for just-in-time inventory management, the rise of smart cities necessitates smart logistics solutions, increasing consumer demand for faster order fulfillment. Major trends in the forecast period include integration of AI and machine learning, customization options, robotics integration, adoption of modular designs, cloud connectivity, advancement in technology.
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Market Drivers and Trends:
The rising e-commerce industry is expected to propel the growth of the ASRS for the garments-on-hangers market going forward. The e-commerce sector refers to the online exchange of goods and services through the Internet. The E-commerce industry is driven by increased internet penetration, convenience, and changing consumer preferences favoring online shopping. ASRS for garments on hangers streamlines inventory management and boosts efficiency in e-commerce warehouses by enabling faster and more accurate processing of clothing orders. For instance, in November 2023, according to the International Trade Administration, a US-based Department of Commerce, the global B2C e-commerce revenue is expected to grow to $5.5 trillion by 2027 at a steady 14.4% compound annual growth rate. Additionally, the gross merchandise value (GMV) in 2023 was $24,453 billion up from $21,019 billion from 2022. Therefore, the rising e-commerce industry is driving ASRS for the garments-on-hangers market.
Major companies operating in the ASRS for garments on hangers market are focusing on introducing intelligent and advanced solutions, such as automated single-pick storage and retrieval systems, to enhance its market offering and product options within the market. It is utilized for efficient and precise warehouse inventory handling and streamlining operations through automated picking and storage processes. For instance, in April 2021, Planiform, a US-based automated garments-on-hanger solutions provider company, launched GOH Hivea. This innovative system is powered by smart robots, enhancing the efficiency of storing and retrieving garments on hangers. The GOH HivEA solution aims to optimize storage space, improve retrieval processes, and enhance operational efficiency in handling garments on hangers. This launch signifies a significant advancement in automated solutions for the garment industry, offering improved time management, space utilization, labor efficiency, and customer satisfaction.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Dematic Corporation, Daifuku Co. Ltd., Vanderlande Industries Holding B.V., KNAPP AG, Mainetti, Mecalux S.A., TGW Logistics Group GmbH, Bastian Solutions Inc., Vecna Robotics Inc., Kardex AG, J.S. Hanger, Whitmor, SSI SCHAEFER Systems International Holding AG, Interroll Group, M&B Hangers, Conveyco Technologies Inc., Henry Hanger, Bend & Hook, Swisslog Holding AG, Noega Systems S.L., Westfalia Technologies Inc., Geek+ Robotics (Beijing) Co. Ltd., Bend & Hook
ASRS For Garments On Hangers Market 2024 Key Insights:
• The ASRS For Garments On Hangers Market is expected to grow to $2.6 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.
• E-Commerce Boom Fuels Growth In ASRS For Garments On Hangers Market
• Innovative ASRS For Garments On Hangers By Planiform Redefines Warehouse Efficiency
• North America was the largest region in the ASRS for garments on hangers market in 2023. The regions covered in the ASRS for garments on hangers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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