Enjoy complimentary customisation on priority with our Enterprise License!
The automated storage and retrieval systems market share is expected to increase by USD 1.65 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 3.66%.
This automated storage and retrieval systems market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers automated storage and retrieval systems market segmentation by end-user (e-commerce and 3pl, automotive, food and beverages, retail, and others) and Geography (Europe, APAC, North America, South America, and MEA). The automated storage and retrieval systems market report also offers information on several market vendors, including BEUMER Group GmbH & Co. KG, Daifuku Co. Ltd., Honeywell International Inc., IHI Corp., Kardex AG, KION GROUP AG, Mitsubishi Electric Corp., Murata Manufacturing Co. Ltd., SSI SCHAEFER Group, and Toyota Industries Corp. among others.
Download the Free Report Sample to Unlock the Automated Storage and Retrieval Systems Market Size for the Forecast Period and Other Important Statistics
Based on our research output, there has been a neutral impact on the market growth during and after post COVID-19 era. The increasing demand from the automotive industry is notably driving the automated storage and retrieval systems market growth, although factors such as high cost associated with upgrading to automated warehouses may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automated storage and retrieval systems industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automated Storage And Retrieval Systems Market Driver
The increasing demand from the automotive industry is one of the key factors driving the growth of the global automated storage and retrieval systems market. The automated storage and retrieval systems facilitate automated material storing and retrieval of loads in warehouses. The automated storage and retrieval systems can be categorized into unit load and mini-load systems. Therefore, strong automotive sales, coupled with increasing investments in new automobile plants, have increased the demand for automated storage and retrieval systems. In the automotive industry, APAC has emerged as the most significant market in recent years. The strong growth of the region can be ascertained from its contribution of more than 50% to the market share of global automotive production in 2019. The growth was led by China, India, South Korea, and Japan. Over the last decade, China overtook the US which was the major country in terms of automotive manufacturing. Such initiatives have aided countries in increasing their automotive manufacturing capacity. The increase in investments in the automotive industry is expected to provide high growth opportunities to the vendors of the global automated storage and retrieval systems during the forecast period.
Key Automated Storage And Retrieval Systems Market Trend
The increasing warehouse rental will fuel the global automated storage and retrieval systems market growth. The year-over-year growth rate of global warehouse rental is consistently increasing across various global countries. Among all the global regions, APAC is the fast-growing region for warehouse rentals. Moreover, the rising warehouse rental will increase the demand for automated storage and retrieval systems. Many manufacturers in the end-user segment will set up in-house warehouse services rather than renting from external sources. In the in-house warehouse, the manufacturers will try to implement automated and space-efficient warehouse equipment to reduce their overall cost, which includes labor and equipment operating expenses. In addition, the use of automated storage and retrieval systems can save 60%-70% of space in the warehouse compared with that by traditional storage equipment (such as racks and drawers). Therefore, the demand for automated storage and retrieval systems among the manufacturers across different end-user segments is expected to increase during the forecast period.
Key Automated Storage And Retrieval Systems Market Challenge
The high cost associated with upgrading to automated warehouses is a major challenge for the global automated storage and retrieval systems market growth. Automated storage and retrieval systems have substitutes such as non-automated or traditional storage systems. Although automated storage and retrieval systems have many benefits over their substitutes, they cannot cover a few proportions of end-user segments. However, depending on the requirements of goods movement in a warehouse, automation can be categorized into many types. The preliminary level of automation is called system automation. In this, the warehouse is equipped with radio frequency identification devices (RFID), voice recognition devices, and similar low-level automated warehouse devices. The cost incurred on a preliminary automated warehouse setup is equal to the cost of a traditional warehouse setup. However, an advanced automated warehouse (furnished with automated storage and retrieval equipment and conveyors) setup cost is about five times more than the traditional arrangement. The higher upgrading cost will limit small vendors (in end-user segments) from adopting automated warehouse equipment. Therefore, few proportions of end-user segments are untapped by the automated storage and retrieval system manufacturers.
This automated storage and retrieval systems market analysis report also provide detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global automated storage and retrieval systems market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automated storage and retrieval systems market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the automated storage and retrieval systems market encompasses successful business strategies deployed by the key vendors. The automated storage and retrieval systems market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automated storage and retrieval systems market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the automated storage and retrieval systems market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global industrial machinery market. includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.