A new study forecasts that worldwide demand for automated storage and retrieval systems will increase 6.0 percent annually, to $17.9 billion in 2020.
Advances in the segment will rise because of increasing global manufacturing activity and the expansion of the world’s logistics and transportation industries. These and other trends are presented in World Material Handling Equipment, a new study from The Freedonia Group, a Cleveland-based industry research firm.
As companies adopt advanced manufacturing techniques, build new factories and warehouses, and upgrade existing facilities, they will purchase new automated storage and retrieval systems to improve efficiency and productivity, and to reduce labor costs. The development of new models that offer better performance and greater versatility will add to the appeal of automated storage and retrieval systems. However, most small and mid-sized industrial enterprises and companies around the world still will not be able to afford these types of equipment, choosing to rely on manual material handling products instead.
Automated storage and retrieval systems provide for the computer-controlled performance of handling and storage functions, whether involving pallet loads, parts, components, assemblies, or finished products. Numerous different automated storage and retrieval system configurations are available, depending on the system’s physical working environment and the types of products to be handled. Among the most important advantages offered by automated storage and retrieval systems is their ability to be incorporated into complete factory automation environments. In addition, these products can interface with other types of material handling equipment, such as automated guided vehicles, conveyors, monorails, and robots.