Global Automated Storage and Retrieval Systems Market 2019-2023| Increasing Warehouse Rental to Boost Demand | Technavio
LONDON--(BUSINESS WIRE)--Dec 14, 2018--The global automated storage and retrieval systems market is expected to post a CAGR of over 7% during the period 2019-2023, according to the latest market research report by .
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Technavio has released a new market research report on the global automated storage and retrieval systems market for the period 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global automated storage and retrieval systems market is the growing global packaged beverage consumption. The global consumption of packaged beverage is growing at an unprecedented rate. Packaged water and carbonated soft drinks were the highest consumed beverages in 2017. Packaged milk and dairy beverage consumption is also increasing significantly across the world. Therefore, the growing consumption of packaged beverages is likely to increase the demand for automated storage and retrieval systems at the warehouses of beverage manufacturers, as several manufacturers are looking to automate their warehouses to increase the overall operating efficiency.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the increasing warehouse rentals as one of the key emerging trends in the global automated storage and retrieval systems market:
Global automated storage and retrieval systems market: Increasing warehouse rental
The warehouse rental is consistently increasing across various countries worldwide, especially in European countries. The rising warehouse rental will increase the demand for automated storage and retrieval systems. Several manufacturers in the end-user segment are likely to set up in-house warehouse services, instead of renting from external sources, wherein they will try to implement automated and space-efficient warehouse equipment to reduce their overall cost. Therefore, the increasing warehouse rental will fuel the growth of the global automated storage and retrieval systems market during the forecast period.
“Apart from the growing global packaged beverage consumption, the global automated storage and retrieval systems are likely to be positively influenced by the growth of e-commerce market in North America, and the expanding warehouse space in Europe during the forecast period,” says a senior analyst at Technavio for research on warehouse and storage.
Global automated storage and retrieval systems market: Segmentation analysis
This market research report segments the global automated storage and retrieval systems market by end-user (e-commerce and 3PL, automotive, food and beverage, and retail), and geographical regions (APAC, EMEA, and the Americas).
The EMEA region led the market in 2018 with a market share of over 37%, followed by the Americas and APAC respectively. Although the APAC held the smallest share of the market in 2018, it is expected to register the highest incremental growth during the forecast period.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY MANUFACTURING AUTOMOTIVE MANUFACTURING ENGINEERING PACKAGING OTHER MANUFACTURING AUTOMOTIVE RETAIL FOOD/BEVERAGE GENERAL AUTOMOTIVE
SOURCE: Technavio Research
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