Who are the key players in North America Automated Storage and Retrieval System Market?

Daifuku Co. Ltd, Schaefer Holding International Gmbh, Dematic Group (KION Group AG), Murata Machinery Ltd and Mecalux SA are the major companies operating in the North America Automated Storage and Retrieval System Market. Read More

Which industries are the primary adopters of Automated Storage & Retrieval Systems (ASRS) in North America?

Primary adopters of the Automated Storage Retrieval System Market in North America are the automotive, food and beverage, retail, and pharmaceutical industries, all of which require high efficiency and accuracy in storage and retrieval operations. Read More

What are the key factors driving the growth in the North America ASRS Market?

Key factors driving the North America Automated Storage Retrieval System (ASRS) Market are a) The need for efficient inventory management b) Labor cost reduction c) Increased e-commerce activity d) Advancements in technology such as AI and IoT integration Read More

North America Automated Storage and Retrieval System Market Trends

Q: What is the current North America Automated Storage and Retrieval System Market size?

The North America Automated Storage and Retrieval System Market is projected to register a CAGR of 9.01% during the forecast period (2024-2029) Read More

Q: What years does this North America Automated Storage and Retrieval System Market cover?

The report covers the North America Automated Storage and Retrieval System Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Automated Storage and Retrieval System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Market Trends of North America Automated Storage and Retrieval System Industry

This section covers the major market trends shaping the North America Automated Storage & Retrieval System Market according to our research experts:

Retail Industry is Expected to Hold Significant Market Share

North America's retail market is one of the largest in the world. The country has a high presence of omnichannel vendors that stand to be one of the largest consumers of material handling solutions, such as ASRS. The demand for ASRS is especially high from the e-commerce establishments that require high throughput operations in their fulfillment centers.
The United States stands to be one of the major retail markets in the region. It is estimated that more than two-thirds of the country's GDP is generated from retail consumption every year. In the country's e-commerce sector, the sales growth continues to increase more than the physical stores. With automation being the key differentiating factor, there is increasing competition between online and omnichannel retailers.
Moreover, high number of online shoppers and extreme internet penetration in the region are expected to be the primary driving factors of the retail industry in the country. Internet penetration in the region was the highest in the world and stood at 89.4%.
Further, the retailers in the region have recognized the need for ASRS, thus offering more tangible benefits in the consumer's mind, such as loyalty benefits. The technology has been better integrated with several commerce sites to create a seamless experience.
Some players are investing in developing ASRS due to the sudden increase in demand during the coronavirus pandemic. For instance, in July 2020, Next Generation Manufacturing Canada (Ngen) invested USD 5 million in projects leading to the development and production of Automated storage and retrieval systems technologies instead of manually to help stop coronavirus spread.

North America Automated Storage and Retrieval System Market Share

Understand The Key Trends Shaping This Market

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United States Accounts For Largest Market Share

According to the Bureau of Transportation Statistics, the US is home to 19,919 airports, including private and public. The largest airport in the United States is the Denver International Airport and sees over 31,000,000 passengers every year. The number of storage retrieval systems used in airports in the country holds a significant global share.
Furthermore, the United States, over the forecast period, is expected to witness robust growth in several domestic robotic solutions, owing to the government policies that aim at increasing domestic production rather than importing finished goods.
According to RIA estimates, as of September 2020, approximately 293,000 robots were in use in the United States. With the increasing trends toward locally produced robots in the next four years, the country's manufacturing sector is anticipated to create a considerable demand for material handling solutions, including ASRS, in the country.
Moreover, e-commerce is a significant driving factor for the demand from automated distribution warehouses, such as ASRS, as consumers seek ever-shorter delivery times. COVID-19-related boosts in online shopping resulted in an additional USD 174.87 billion in e-commerce revenue in 2020 (source: US Commerce Department). The system's ability to maintain an inventory record with accurate tracking has made it valuable to this industry. Along with this, the process of online retail is primarily driven by automated system control by computers, where ASRS can be integrated with simplicity while attaining a high rate of efficiency. These factors combined have led to a massive demand for these systems in the retail industry.
Further, other prominent factors, such as steady growth in the wages paid to workers, have made warehouse operators look forward to alternative warehouse management solutions. These factors are anticipated to drive the demand for automation in several end-user industries that are highly dependent on the workforce.