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Automated Storage and Retrieval System Market Trends

Report ID: GMI6968
Published Date: May 2024
Report Format: PDF

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Automated Storage and Retrieval System Market Trends

The escalating demand for enhanced storage density supports the growth of the automated storage and retrieval system industry. With businesses seeking to optimize warehouse space utilization, automated storage and retrieval system solutions offer compact storage configurations, maximizing storage capacity within limited footprints. For instance, in October 2023, Hai Robotics introduced three new products aimed at enhancing storage density and performance in warehouses with limited space. These include the telescopic Grapple Hook ACR, HaiPick System 3, and HaiPick A42T-E2. The Grapple Hook ACR can integrate seamlessly with the HaiPick System 3, offering improved performance and storage efficiency. Together, these innovations provide a compact yet high-performing solution for warehouse automation.

The exponential growth of e-commerce is reshaping supply chain dynamics, necessitating efficient storage and order fulfillment solutions. Automated storage and retrieval systems are increasingly vital for handling surges in product volumes while maintaining operational agility. As consumer expectations for fast delivery intensify, businesses are compelled to invest in automated storage and retrieval system technology to optimize warehouse operations. This trend highlights the lucrative growth potential for automated storage and retrieval system providers as they cater to the evolving needs of the e-commerce-driven landscape.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Automated storage and retrieval system (ASRS) industry size was worth USD 8.5 billion in 2023 and is projected to expand at over 8% CAGR from 2024 to 2032, due to the increasing occurrence of warehouse fatalities and injuries.

The retail & e-commerce segment in the automated storage and retrieval system (ASRS) market held 25% share in 2023 and is estimated to grow at substantial rate between 2024 and 2032, owing to the burgeoning demand for faster order fulfillment.

North America automated storage and retrieval system (ASRS) industry recorded over 38% share in 2023 and is projected to expand at significant rate between 2024 and 2032, led by the thriving e-commerce sector and the increasing focus on supply chain optimization.

Bastian Solutions, LLC, Daifuku Co. Ltd, Dematic (Kion Group AG), Honeywell International Inc., Knapp AG, Murata Machinery Ltd, and Schaefer Systems International Pvt Ltd.