The Global Automated Storage and Retrieval Systems Market is projected to experience a compound annual growth rate of 8.7 percent between the years 2017 and 2025. By the year 2025, it is estimated that this market will be valued at nearly $14 billion US dollars. The increased need for optimized and space efficient storage systems is expected to drive the growth of this market during the forecasted time period.
The Automated Storage and Retrieval Systems Market is expected to experience a large surge in growth worldwide between 2017 and 2025. The Automated Storage and Retrieval Systems Market is made up of the systems that are used to either store or retrieve products that are held within a warehouse in order to allow for better optimization and improve space efficiency.
The space saving efficiencies that these systems provide, coupled with the increasing demands for more strategically managed software configuration management by multiple end user industries, particularly e-commerce and logistics, are creating ample opportunities for the growth and implementation of these storage systems in the past years. The cost and space savings that these systems offer once they are implemented is allowing for steep dividends for those who use them; thus, more investments are being encouraged from more research and development in order to allow for better technology.
Factors Driving the Growth of the Global Automated Storage and Retrieval Systems Market
One of the leading factors that will drive the growth of this market is the need for optimized and space efficient storage systems. A growing population globally is expected to put serious demand for various products in multiple sectors in the automated storage and retrieval systems market. These sectors include automotive, pharmaceutical, retail, food and beverage, and electronics, along with several other industries. In an effort to meet the demands for the products that are needed in these sectors, manufacturers are significantly increasing the production of their products.
Furthermore, the modular structure of the automated storage and retrieval systems market ensures both flexibility and scalability. As such, the need for faster, more space efficient, as well as cost effective storage systems is rising. Moreover, systems that offer maximum throughput and productivity are also expected to fuel the growth of this market across much of the end user industries.
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Research and Development in the Global Automated Storage and Retrieval Systems Market
The latest trend that is expected to gain a great deal of traction in the global automated storage and retrieval systems market is the increase in spending for research and development. Many companies are increasing the amount of money that they are investing in research and development to allow for more innovative solutions that will allow them to gain a competitive edge. As such, there will be an impact on automated storage and retrieval systems as all automated machines are connected.
Furthermore, many manufacturers are investing more in research and development in order to set their product lines apart from others. This will also allow them to offer more efficient automated material handling systems.
Global Automated Storage and Retrieval Systems Market by Application
Automated Storage and Retrieval Systems are applied in several industries. It is projected that the following industries will contribute the most to this market, worldwide, during the forecasted time period:
- The automotive industry
- The food and beverage industry
- The retail industry
In 2016, the automotive industry lead the application segment in regard to the Global Storage and Retrieval Systems Market. It is expected that this segment will continue to dominate the market in the coming years. An increase in automation in the automotive sector, which utilizes automated storage and retrieval systems, will be the primary factor that will fuel the growth of the segment. The automotive industry comprised about 23 percent of the global automated storage and retrieval systems market.
The food and beverage industry of the global automated storage and retrieval systems market is also expected to contribute a significant amount to the growth of the market. The growth in this segment will likely be due to the increases production of stock keeping units (SKUs), the transfer of products throughout multiple sites, and the maintenance of the quality of products. The automated storage system and retrieval systems market aids in conserving products from factors that could potential damage them. It also allows for inventory tracking, interlinking between departments, and the handling of containers of multiple sizes.
Growth of the Global Automated Storage and Retrieval Systems by Region
The following regions are expected to significantly contribute to the growth of the automated storage and retrieval systems market:
- The Americas
- Asia Pacific
- The Middle East
In regard to geography, Europe, the Middle East and Africa were at the forefront of the automated storage and retrieval systems market in 2016. Experts predict that this region will continue to dominate the market during the forecasted period. The presence of several key automotive companies, such as Daimler and Volkswagen, are the primary reasons why it is believed that this region will stand ahead of other regions.
Major Contributors and Competitive Landscape of the Global Automated Storage and Retrieval Systems Market
The global automated storage and retrieval systems market is highly competitive. The competition within this market is expected to grow as the rise in product extensions and innovations in technology occurs in the coming years. Furthermore, the key vendors in the market are believed to grow by gaining regional or local players over the forecasted time period. Moreover, there will be increased attention on technology.
Key corporations that contribute to the growth of the global automated storage and retrieval systems market include Dematic, Daifuku, SSI Shaefer and Vanderlande Industries. There are other key vendors in this market, as well, including Dearborn, Mid-West Conveyor, BEUMER Group, Fives Group, FlexLink, KNAPP Logistics Automation, Mecalux, Legris Industries, Murata Machiner, Swisslog and TGW Logistics Group.
Given the increased interest of large corporations in this market, those who are interested in investing in the market can expect a positive outcome.