Blockchain Press Releases
Automated Storage and Retrieval System Market to Reach $10.31 Billion by 2030: Grand View Research, Inc.
SAN FRANCISCO, July 19, 2023 /PRNewswire/ — The global automated storage and retrieval system market size is expected to reach USD 10.31 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 7.8% from 2023 to 2030. Automated storage and retrieval systems (AS/RS) are computer-aided or robotic systems that store and retrieve products or items at a specific place on racks/shelves in warehouses or storage places. The machines follow an established route to place or retrieve the item from a specific location. The high volume of loads can be quickly and efficiently moved with AS/RS. The AS/RS systems are a boon to the warehousing sector as the industry reels with labor shortages and skilled labor.
Key industry Insights & Findings from the report:
- The unit load cranes segment dominated the market in 2022 with a revenue share of about 22%. Unit load cranes can store large loads and can reach up to 100 feet or more of height.
- The order-picking function segment is anticipated to grow at a CAGR of 8.4% during the forecast period. Order picking is the first stage in the fulfillment process for a consumer’s order. Order picking function is gaining more importance owing to the growth of the e-commerce sector.
- The retail & e-commerce segment is expected to grow at the fastest CAGR of 8.3% during the forecast period. The growth can be attributed to the increasing need for efficient inventory management and control in retail.
- The Asia Pacific segment is anticipated to register the highest CAGR of 8.6% over the forecast period. The growth can be attributed to the rapid growth of retail & e-commerce in the Asia Pacific countries such as India and China.
Read 120-page market research report, “Automated Storage And Retrieval System Market Size, Share & Trends Analysis Report By Type, By Function (Assembly, Distribution, Kitting, Order Picking, Storage), By Vertical, By Region, And Segment Forecasts, 2023 – 2030“, published by Grand View Research.
Automated Storage And Retrieval System Market Growth & Trends
According to a DHL report in 2019, only 5% of total warehouses had installed automated storage and retrieval systems. The trend displays a promising opportunity for the market’s growth in the coming years as companies are increasingly adopting AS/RS for automating their warehouses. Technological development such as artificial intelligence and machine learning are aiding the growth of the target market. In November 2021, Honeywell International Inc. launched a new AS/RS system powered by machine learning and artificial intelligence algorithms. The system optimized the warehousing operation by adjusting to the user’s needs through decision intelligence. Also, Honeywell’s AI-powered AS/RS can manage 20,000 stock-keeping units (SKU) with 40% more throughput.
The e-commerce boom has resulted in the increasing importance of inventory management and control. The AS/RS aids in efficient inventory management as it keeps track of which product is stored where. It also tracks the volume of available inventory. Installation of AS/RS significantly improves the efficiency of the warehouses and substantially reduces the delivery time. For instance, SAM Outillage, a French tools manufacturer, witnessed a 25% jump in its productivity across operations by installing AS/RS for 80% of its stock-keeping unit (SKU). The company can now deliver orders within 24hrs owing to the agility brought by the automated system.
The COVID-19 pandemic accelerated the adoption of automation technologies, such as automated storage and retrieval systems in the logistics sector. The social distancing norms necessitated the deployment of automation tools in warehousing functions and operations. Labor shortages during the pandemic led to increased adoption of the AS/RS during the pandemic. Retail, e-commerce, and healthcare sectors were booming during the pandemic and were among the top verticals of the AS/RS market.
Automated Storage And Retrieval System Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2023 |
USD 6.10 billion |
|
Revenue forecast in 2030 |
USD 10.31 billion |
|
Growth rate |
CAGR of 7.8 % from 2023 to 2030 |
|
Base year for estimation |
2022 |
|
Historic year |
2017 – 2021 |
|
Forecast period |
2023 – 2030 |
Automated Storage And Retrieval System Market Segmentation
Grand View Research has segmented the global automated storage and retrieval system market based on type, function, vertical, and region
Automated Storage And Retrieval System Market – Type Outlook (Revenue, USD Billion, 2017 – 2030)
- Unit Load Cranes
- Mini Load Cranes
- Robotic Shuttle-based
- Carousel-based
- Vertical Lift Module
- Robotic Cube-based
Automated Storage And Retrieval System Market – Function Outlook (Revenue, USD Billion, 2017 – 2030)
- Assembly
- Distribution
- Kitting
- Order Picking
- Storage
- Others
Automated Storage And Retrieval System Market – Vertical Outlook (Revenue, USD Billion, 2017 – 2030)
- Retail & E-commerce
- Healthcare
- Automotive
- Aerospace & Defense
- Electronics & Semiconductors
- Others
Automated Storage And Retrieval System Market – Regional Outlook (Revenue, USD Billion, 2017 – 2030)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- KSA
- UAE
- South Africa
List of Key Players in the Automated Storage And Retrieval System Market
- Kardex Group
- Daifuku Co., Ltd.
- Murata Machinery, Ltd.
- SSI Schaefer AG
- TGW Logistics Group GmbH
- Dematic Corp. (Kion Group AG)
- Mecalux, S.A.
- Knapp AG
- Beumer Group GmbH & Co. KG
- KUKA AG
- Bastian Solutions, LLC
- System Logistics Corporation
Check out more related studies published by Grand View Research:
- Cold Chain Market – The global cold chain market is expected to reach USD 1,071.13 billion by 2030, registering a CAGR of 18.6%, according to a new report by Grand View Research, Inc. The retail sector in emerging economies, such as India and China, is getting more organized and this trend is expected to augment the demand for cold storage over the forecast period. Government policies to deregulate the entry of foreign companies have increased the Foreign Direct Investment (FDI) in the retail sectors of such regions.
- Cold Storage Market – The global cold storage market size is expected to reach USD 485.32 billion by 2030, registering a CAGR of 17.2%, according to a new study conducted by Grand View Research, Inc. The retail sector in emerging economies, such as India and China, is getting more organized and this trend is expected to augment the demand for cold storage over the forecast period. Government policies to deregulate the entry of foreign companies have increased the Foreign Direct Investment (FDI) in the retail sectors of such regions.
- North America Cold Storage Market – The North America cold storage market size is expected to reach USD 86.48 Billion by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 10.7% from 2021 to 2028. Technological advancements in cold storage warehouses are stimulating the growth of the market. Increasing automation is changing the conventional warehouse operations, enabling companies to maximize their output. Growing penetration of robotics applications, automated material handling equipment, and high-speed conveyor systems help in achieving the order accuracy.
Browse through Grand View Research’s Automotive & Transportation Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
The post FBI warning against crypto money transmitters ‘appears’ to be aimed at mixers appeared first on HIPTHER Alerts.
Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
The post Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets appeared first on HIPTHER Alerts.
Blockchain
Existing Blockchains Can’t Adopt Post-Quantum Cryptography Without Significant User Impact, Says Johann Polecsak
Johann Polecsak argues that existing blockchains face significant challenges in adopting post-quantum cryptography without causing substantial disruption to users. This assessment highlights the complex and multifaceted nature of transitioning to new cryptographic standards in blockchain networks.
Post-quantum cryptography refers to cryptographic algorithms that are resistant to attacks from quantum computers, which have the potential to break traditional cryptographic schemes. While post-quantum cryptography offers enhanced security, implementing it in existing blockchain networks poses technical, operational, and usability challenges.
Polecsak suggests that transitioning to post-quantum cryptography could require significant changes to blockchain protocols, consensus mechanisms, and user interfaces. These changes may disrupt existing workflows, require modifications to software and hardware infrastructure, and necessitate coordination among network participants.
Furthermore, Polecsak emphasizes the importance of ensuring backward compatibility and interoperability during the transition to post-quantum cryptography. This is crucial to prevent fragmentation of the blockchain ecosystem and maintain continuity for users and applications.
Polecsak’s assessment underscores the complexities and trade-offs involved in adopting post-quantum cryptography in existing blockchain networks. While the transition promises improved security against quantum threats, it requires careful planning, coordination, and investment to minimize disruption and ensure a smooth transition for users and stakeholders. As the field of post-quantum cryptography continues to evolve, blockchain projects will need to carefully evaluate their options and strategies for implementing these new cryptographic standards.
Source: news.bitcoin.com
The post Existing Blockchains Can’t Adopt Post-Quantum Cryptography Without Significant User Impact, Says Johann Polecsak appeared first on HIPTHER Alerts.
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