Middle East and Africa Automated Storage and Retrieval System Market
No. of Pages: 92 | Report Code: TIPRE00022121 | Category: Electronics and Semiconductor
No. of Pages: 92 | Report Code: TIPRE00022121 | Category: Electronics and Semiconductor
The automated storage and retrieval system market in the MEA includes Saudi Arabia, the UAE, South Africa, and the Rest of the MEA. The market for automated storage and retrieval system in the Middle East region is growing slowly with increasing implementations by oil & gas, retail, pharmaceutical, and logistics industries. The civil construction, oil & petroleum, and the consumer goods retail industry in this region are the most powerful ones. For cost savings and better operational efficiencies, these industries lookout for solutions that can optimize their inventories, deliver products in time to the consumers, and maintain a perfect balance between supply and demand. In the MEA region, the growing demand for ASRS in the retail industry is ruled by large-scale retail outlet chains and e-commerce. The rising high-income people and growing tourist visits are some of the significant reasons for the growing demand in the retail industry. The increasing demand for manufacturing products and building materials in Gulf countries, such as Saudi Arabia, are estimated to encourage automated technology such as ASRS establishments in the country. The robust retail, as well as food and beverage sectors, are creating a huge demand for ASRS in the MEA. Companies in Africa are also highly involved in providing ASRS to several industries to stay competitive in the market. For instance, Racking Africa, a South Africa-based company ASRS to surge warehouse productivity and offers great reliability and control of stocks. The company has a broad range of automated storage systems, which includes mini load, pallet stacker crane, carousels, shuttles, Satellite, and synchronized & curved systems. Furthermore, the increasing complication and changing market dynamics in the region’s logistics sector is the primary reason fueling demand for more technological innovations in automated storage and retrieval solutions. Additionally, the high presence of logistics and distribution companies across the region and their growing adoption of technology to minimize labor cost and increasing operation efficiency is one of the factors contributing to the high demand of ASRS systems in the region. Absence or poor performance of the automotive and electronic industry is the sole reason for slow-moving demand for ASRS as these industries are the major demand generator of ASRS.
Saudi Arabia, the UAE, Egypt, Morocco, and Kuwait are the main countries facing the economic effects of COVID-19 in the Middle East and African region. It is becoming clear with the COVID-19 pandemic spreading through the above-mentioned countries that few can avoid its effects, posing major challenges for all sectors. The retail industry across the Middle East has being severely impacted due to the outbreak of the pandemic in the starting of the year 2020. However, in order to combat the huge economic impact, countries like UAE have taken necessary steps to continue economic activities across the region. The UAE government is thus promoting the adoption of advanced technology across the industries to increase efficiency among them. This has influenced the brands across the region to go online for increasing sales during the period. These initiatives have influenced the growth of the commerce industry across region. For instance, approximately, more than 80% of the consumers in UAE and Saudi Arabia have shifted to the online medium of purchasing good owing to the pandemic. Similarly, according to a study conducted by The Dubai Chamber of Commerce, 70% of the companies operating in the retail industry of the country is expected to shutdown owing to the outbreak of the corona virus. Dubai's economy is focused on sectors such as hospitality, tourism, entertainment, logistics, property, and retail, and it is one of the most diversified and non-oil dependent economies in the Gulf. While its hotels and restaurants are well-known around the world, nearly half of the restaurants and hotels surveyed by the company plan to close. Similarly, 74% of travel and tourism businesses are projected to close as a result of the massive losses suffered during the lockdown, as are 30% of transportation, storage, and communications businesses. These adverse impact in the main industries operating in the region is expected to have an adverse impact in the ASRS market as well owing to the outbreak of COVID-19.
Strategic insights for the Middle East and Africa Automated Storage and Retrieval System provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 146.47 Million |
| Market Size by 2028 | US$ 250.67 Million |
| Global CAGR (2021 - 2028) | 6.9% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
The geographic scope of the Middle East and Africa Automated Storage and Retrieval System refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The automated storage and retrieval system market in MEA is expected to grow from US$ 146.47 million in 2020 to US$ 250.67 million by 2028; it is estimated to grow at a CAGR of 6.9% from 2021 to 2028. Flourishing Demand for Efficient in Supply Chain across industries is also bolstering the growth A supply chain is one of the key sources of competitive advantage for companies that drive growth in their businesses. Supply chain systems have gained wider and vital importance in the last few years, as a result of high competition in the product-based market. A strong supply chain ensures a proper balance between the supply and demand of the product in the market. Thus, many industry verticals such as automotive, food & beverages, electronic & semiconductors, e-commerce, chemicals, aerospace, retail, and pharmaceuticals amongst others are ensuring a strong supply chain for reaching out to their customers. ASRS supports the operational flow of the supply chain at the initial stage. ASRS is applied in slow and medium moving order fulfillment and inventory management applications, ensuring increased efficiency. Thus, rising demands for efficient supply chain implementations are driving the implementations of ASRS among industries.
In terms of type, the AutoStore segment accounted for the largest share of the MEA automated storage and retrieval system market in 2020. In terms of end user, Chemical segment is expected to the fastest growing segment over the forecast period.
A few major primary and secondary sources referred to for preparing this report on the are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report SSI SCHAEFER GROUP, Swisslog Holding AG, System Logistics Spa
The Middle East and Africa Automated Storage and Retrieval System Market is valued at US$ 146.47 Million in 2020, it is projected to reach US$ 250.67 Million by 2028.
As per our report Middle East and Africa Automated Storage and Retrieval System Market, the market size is valued at US$ 146.47 Million in 2020, projecting it to reach US$ 250.67 Million by 2028. This translates to a CAGR of approximately 6.9% during the forecast period.
The Middle East and Africa Automated Storage and Retrieval System Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East and Africa Automated Storage and Retrieval System Market report:
The Middle East and Africa Automated Storage and Retrieval System Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East and Africa Automated Storage and Retrieval System Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Automated Storage and Retrieval System Market value chain can benefit from the information contained in a comprehensive market report.
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