WASHINGTON and NEW YORK and LONDON, Aug. 30, 2016 /PRNewswire/ -- Worldwide demand for automated storage and retrieval systems is forecast to increase 6.0 percent annually to $17.9 billion in 2020, outperforming the world material handling machinery market as a whole. 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.
Industry study World Material Handling Equipment is available at http://www.marketresearch.com/Freedonia-Group-Inc-v1247/Material-Handling-Equipment-10242040/
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.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, market share information and profiles of the leading industry players. Reports can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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