North America Automated Storage and Retrieval System Market is expected to reach US$ 1025.38 million by 2027

VLM segment to Dominate North America Automated Storage and Retrieval System Market during 2020–2028

According to a new market research study on “North America Automated Storage and Retrieval System Market Forecast to 2028  – COVID-19 Impact and Analysis - by Type; End Users; and Country,” is expected to reach US$ 1025.38 million by 2028 from US$ 617.60 million in 2020. The market is estimated to grow at a CAGR of 6.6% from 2021 to 2028 The report provides trends prevailing in the North America automated storage and retrieval system market along with the drivers and restraints pertaining to the market growth. Rising demand for optimized and space efficient storage systems are the major factor driving the growth of North America automated storage and retrieval system market. However, requirement of high initial investment hinder the growth of North America automated storage and retrieval system market.

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

The market for automated storage and retrieval system market is segmented into type, end user, and country. Based on type, the market is segmented into unit load asrs, mini load asrs, vertical lift module, vertical carousels, horizontal carousels, autostore, and others. In 2020, the vertical lift module segment held the largest share North America automated storage and retrieval system market. Based on end user the automated storage and retrieval system market is divided into automotive, food & beverages, electronic & semiconductors, e-commerce, chemicals, aerospace, retail, pharmaceuticals, and others. Retail is expected to the fastest growing segment over the forecast period

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 companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, The SSI SCHAEFER GROUP signed a project with CHIRON Group for supplying the installation work stations. This system such as pallet racks will bring automation in the company’s logistic centers.

The report segments the North America Automated Storage and Retrieval System Market as follows:

North America Automated Storage and Retrieval System Market – By Type

• Unit Load ASRS
• Mini Load ASRS
• VLM
• Vertical Carousels
• Horizontal Carousels
• AutoStore
• Others

North America Automated Storage and Retrieval System Market – By End User

• Automotive
• Food & Beverage
• Electronic & Semiconductors
• E-commerce
• Chemicals
• Aerospace
• Retail
• Pharmaceutical
• Others

North America Automated Storage and Retrieval System Market – By Country

• US
• Canada   
• Mexico