North America Automated Storage and Retrieval System Market
No. of Pages: 103 | Report Code: TIPRE00022117 | Category: Electronics and Semiconductor
No. of Pages: 103 | Report Code: TIPRE00022117 | Category: Electronics and Semiconductor
North America is the key regional market, which includes the US, Canada, and Mexico. North America is a hub of technological developments that compliances with economically robust countries. As a result, the manufacturing industry in North America pertains to evolve and remain the principal factor for driving prosperity, jobs, and innovation. With the increasing demand from customers for high-quality products and services, companies are on a constant hunt for innovations to serve their customers in the best possible way. Supply chain management is one of the most important activities for companies to ensure the availability of their products to the end consumer. The end-user industries of storage solutions in the US demand for efficient warehouses where they can store their products, and also roll out the products into the market through various distribution channels as and when needed. With gaining popularity of IoT, companies in the US are finding ways for implementation of IoT with automated storage solutions, which would further result in time and cost savings for them. IoT integrated with automated storage solutions enables remote monitoring, timely report status generation, quicker recovery in case of any errors, and more efficiency in daily operational activities. In the region, the retail industry is one of the largest in the world.
Favorable government policies to boost innovation and reinforce infrastructure capabilities, North America have the highest acceptance and development rate of emerging technologies. Any impact on industries is therefore projected to have a negative influence on the region's economic development. Currently, due to the COVID-19 outbreak, the US is the world's worst affected country, thus affecting the sudden stands still across all the industries present in the region. It is becoming apparent with the COVID-19 pandemic spreading across the United States that few can escape its scope, presenting significant challenges to all industries. However, it has been observed that businesses have increased their online marketing initiatives and adopted other online strategies to attract both old and new customers during the pandemic. For instance, according to studies, Amazon recorded an increase in sales by 37% owing to the COVID-19 pandemic. The close down of all retail outlets by the government authorities coupled with the social distancing norms laid down by them is affecting the investments by retail outlets. For instance, the sales of online grocery segment across the United States, recorded an increase by 210.1% due to the outbreak of the corona virus. Thus, the shift in online shopping has boosted the commerce industry across the region. The automotive industry has been highly impacted by the outbreak of the pandemic. With major automotive manufacturing factories being placed in counties like United States and Mexico have slowed down the production process across the region. For instance, Mexico, which is more reliant on exports to the United States, witnessed a 90% drop in auto shipments. Thus, the above-mentioned factors are expected to have a negative impact on the automated storage and retrieval system market across the region owing to the pandemic.
Strategic insights for the North America 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$ 617.60 Million |
| Market Size by 2028 | US$ 1025.38 Million |
| Global CAGR (2021 - 2028) | 6.6% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America 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 North America is expected to grow from US$ 617.60 million in 2020 to US$ 1025.38 million by 2028; it is estimated to grow at a CAGR of 6.6% from 2021 to 2028. Increasing demand for automation in the E-commerce Industry is also blostering the growth. The development of the e-commerce industry goes hand-in-hand with the prosperity of the automated storage industry. Inventory sold by e-commerce sellers is stored in warehouses, and to reduce the time for sorting and stocking of these products, ASRS seems to be one of the best tools. The purchasing pattern of consumers is moving toward online shopping. For instance, more than 60% of the population in the United States are engaged in online shopping. Further, customers expect faster delivery time, owing to which e-commerce players are adopting automation in their processes. The fluctuations in demand of stock-keeping units (SKUs) creates complexities in picking operations, which in turn, slow down the fulfillment process. The e-commerce demand is highly varying, owing to which the forward pick areas must be continuously adjusted to support the fluctuation in items demand. Along with managing SKU demand fluctuations, an ASRS also advances the fulfillment process, thus allowing e-commerce as well as omnichannel retailers to adhere better to service level agreements by fulfilling order delivery commitments.
In terms of type, the vertical lift module segment accounted for the largest share of the North America automated storage and retrieval system market in 2020. In terms of end user, Retail 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, Bastian Solutions, Daifuku Co. Ltd, Kardex Group, KNAPP AG, Mecalux, S.A., Vanderlande Industries, Autocrib, Incare among the leading companies in the North America automated storage and retrieval system market.
The List of Companies - North America Automated Storage and Retrieval System Market
The North America Automated Storage and Retrieval System Market is valued at US$ 617.60 Million in 2020, it is projected to reach US$ 1025.38 Million by 2028.
As per our report North America Automated Storage and Retrieval System Market, the market size is valued at US$ 617.60 Million in 2020, projecting it to reach US$ 1025.38 Million by 2028. This translates to a CAGR of approximately 6.6% during the forecast period.
The North America 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 North America Automated Storage and Retrieval System Market report:
The North America 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 North America Automated Storage and Retrieval System Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Automated Storage and Retrieval System Market value chain can benefit from the information contained in a comprehensive market report.
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