Middle East and Africa Automated Storage and Retrieval System Market is expected to reach US$ 250.67 million by 2028


PRESS RELEASE BY The Insight Partners 05 May 2021

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Chemicals segment to Dominate MEA Automated Storage and Retrieval System Market during 2020–2028

According to The Insight Partners market research study on “MEA 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$ 250.67 million by 2028 from US$ 146.47 million in 2020. The market is estimated to grow at a CAGR of 6.9% from 2021 to 2028 The report provides trends prevailing in the MEA automated storage and retrieval system market along with the drivers and restraints pertaining to the market growth. Surge in Demand for Automation in the E-commerce Industry are the major factor driving the growth of MEA automated storage and retrieval system market. However, requirement of elevated initial investment hinder the growth of MEA automated storage and retrieval system market.

Saudi Arabia, the UAE, Egypt, Morocco, and Kuwait are the main countries facing the economic effects of COVID-19 in the Middle East and African region. It is becoming clear with the COVID-19 pandemic spreading through the above-mentioned countries that few can avoid its effects, posing major challenges for all sectors. The retail industry across the Middle East has being severely impacted due to the outbreak of the pandemic in the starting of the year 2020. However, in order to combat the huge economic impact, countries like UAE have taken necessary steps to continue economic activities across the region. The UAE government is thus promoting the adoption of advanced technology across the industries to increase efficiency among them. This has influenced the brands across the region to go online for increasing sales during the period. These initiatives have influenced the growth of the commerce industry across region. For instance, approximately, more than 80% of the consumers in UAE and Saudi Arabia have shifted to the online medium of purchasing good owing to the pandemic. Similarly, according to a study conducted by The Dubai Chamber of Commerce, 70% of the companies operating in the retail industry of the country is expected to shutdown owing to the outbreak of the corona virus. Dubai's economy is focused on sectors such as hospitality, tourism, entertainment, logistics, property, and retail, and it is one of the most diversified and non-oil dependent economies in the Gulf. While its hotels and restaurants are well-known around the world, nearly half of the restaurants and hotels surveyed by the company plan to close. Similarly, 74% of travel and tourism businesses are projected to close as a result of the massive losses suffered during the lockdown, as are 30% of transportation, storage, and communications businesses. These adverse impact in the main industries operating in the region is expected to have an adverse impact in the ASRS market as well owing to the outbreak of COVID-19.

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 autostore segment held the largest share MEA 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. Chemical is expected to the fastest growing segment over the forecast period.

SSI SCHAEFER GROUP, Swisslog Holding AG, System Logistics Spa, Kardex Group, KNAPP AG, Autocrib, Inc. among the leading companies in the MEA 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 2019, Swisslog Holding AG completed a major project for Axiom Telecom, a UAE-based telecom company. Axiom Telecom has chosen the company’s AutoStore solution in order to offer a high level of automation. AutoStore was designed to fulfill Axiom’s requirement of 25,000 deliveries

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

MEA Automated Storage and Retrieval System Market – By Type

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

MEA Automated Storage and Retrieval System Market – By End User

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

MEA Automated Storage and Retrieval System Market – By Country

  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA
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