Automated Storage And Retrieval System Market
The automated storage and retrieval system market is estimated to be valued at US$ 9.30 Bn in 2024 and is expected to reach US$ 15.66 Bn by 2031, growing at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031.
Report Description:
The automated storage and retrieval system market has been growing steadily over the past decade owing to various technological advancements and growing adoption across different industries. Automated storage and retrieval systems, also known as AS/RS, are computer-controlled systems that are used for automatically storing and retrieving loads from defined storage locations. These systems have immense benefits over conventional manual storage systems as they provide higher density to optimize warehouse space utilization, greater accuracy in order picking, faster throughput, and higher productivity. Growing demand for automation from industries such as e-commerce, 3PL, and manufacturing has propelled the adoption of AS/RS. Moreover, the demand for scalable and flexible warehousing solutions that can efficiently manage high inventory turns has boosted the market growth over the past few years.
Market Dynamics:
The global automated storage and retrieval system market is driven by the growing demand from the e-commerce industry. The proliferating e-commerce sector has led to increasing warehousing needs that require highly efficient order processing and inventory management systems, fueling the adoption of AS/RS. Reduction in operational costs through higher throughput, improved accuracy, and labor savings provided by AS/RS is a key factor propelling their demand. However, high initial investment costs associated with automated storage and retrieval system deployment remains a key market restraint. Ongoing technological advancements in AS/RS hardware and software offering increased scalability, flexibility and ease of integration presents a significant growth opportunity for market players.
Key Features of the Study:
Detailed Segmentation-
Key Players Insights
Table of Contents
*Browse 60 market data tables and 40 figures on "Global Automated Storage and Retrieval System Market – Global forecast to 2031”.
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