Worldwide demand for automated storage and retrieval systems is forecast to increase six per cent annually to $17.9 billion in 2020, outperforming the world material handling machinery market as a whole, according to a study by US research group Freedonia.
It found that advances in the segment will rise because of increasing global manufacturing activity and the expansion of the world’s logistics and transport industries.
The study, World Material Handling Equipment, found that 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 labour 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.”