The
Automated Storage & Retrieval System Market - Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The Global Automated Storage & Retrieval Market was valued at US$ 6.3 billion in 2019 and is expected to witness a CAGR of 6.3% between 2020 and 2030 to reach a value of US$ 12.3 billion by 2030. Expansion of e-commerce industry, increased demand for sophisticated technology from material handling & order fulfilment applications, and expanding capacity of warehouses across the globe are the major factors driving the growth of the global automated storage & retrieval system market. Automated storage & retrieval system is a vital component of the order fulfilment and has witnessed increased demand owing to the rising number of warehouses globally. The e-commerce giants are focusing on the expanding warehousing capacity and adoption of advanced automation solutions to improve storage, retrieval, and transportation of goods. The automated storage and retrieval system offers multiple benefits such as efficient utilization of floor space, increased inventory storage density, increased throughput, reduced labor cost, and increased order picking accuracy, thereby fueling the growth of the global market.