Automated Storage And Retrieval System Market is Estimated to...

Automated Storage And Retrieval System Market is Estimated to Witness High Growth Owing to Increasing Adoption of Automation across Industries

Сообщение 2024-07-23 10:42:25

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The automated storage and retrieval system market provides efficient solutions for bulk storage and high-speed picking of goods like parts, components, and finished products in various industries like automotive, food & beverages, semiconductor & electronics, and aviation. Automated storage and retrieval system utilizes computer-controlled retrieval and storage system to store and retrieve goods in high-density warehouse racks to improve process efficiency and maximize available storage space.

The Global automated storage and retrieval system market is estimated to be valued at US$ 11328.29 Bn in 2024 and is expected to exhibit a CAGR of 22% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the automated storage and retrieval system are Murata Machinery, Ltd., Honeywell Intelligrated, Bastian Solutions, Inc., Dematic, TGW Logistics Group, Daifuku Co., Ltd., KNAPP AG, Beumer Group, SSI Schaefer Group, and Kardex Group. The key players are focusing on developing innovative and efficient solutions to cater to industry-specific requirements. Technology advancements like integration of robotics, machine learning, and Internet of Things are providing opportunities to offer customized and cost-effective solutions. Increasing e-commerce activities are also driving the need for efficient storage and order fulfillment in distribution centers and warehouses. Technological advancements like mobile robots, autonomous guided vehicles, and collaborative robots are helping to automate high-density warehouses, distribution centers, and fulfillment centers with minimum human intervention.

Market drivers
The increasing adoption of automation across manufacturing and warehousing facilities to improve process efficiency and optimize operations is a key driver for the Automated Storage And Retrieval System Market Demand. Automation helps to reduce labor costs, improve productivity, minimize errors, and maximize warehouse space utilization. Rising labor costs and lack of skilled labor further encourage industries to integrate automated solutions. Moreover, growing e-commerce activities are increasing the demand for efficient order fulfillment, which is fueling the implementation of automated systems.

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About Author:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)