PUBLISHER: The Business Research Company | PRODUCT CODE: 1465661
PUBLISHER: The Business Research Company | PRODUCT CODE: 1465661
An automated storage and retrieval system (ASRS) tailored for garments on hangers represents a sophisticated storage solution leveraging automated technology to efficiently manage the storage and retrieval of hanging garments within warehouse or distribution center settings. Engineered to optimize space utilization and streamline the handling of clothing items on hangers, this system significantly enhances overall operational efficiency across the supply chain.
Key types of ASRS for garments on hangers include the garment rail system, garment conveyor, and garment property storage solutions. The garment rail system, for instance, serves as a storage and transportation solution specifically designed for hanging and displaying clothing items, seamlessly integrated into ASRS setups to facilitate efficient storage and retrieval processes. Various load types such as unit load, mid load, vertical lift module (VLM), carousel, and mini load are utilized across warehousing and logistics, retail third-party logistics (3PL), hospitality, healthcare, educational institutions, and other sectors.
The ASRS for garments on hangers research report is one of a series of new reports from The Business Research Company that provides ASRS for garments on hangers market statistics, including the ASRS for garments on hangers industry's global market size, regional shares, competitors with an ASRS for garments on hangers market share, detailed ASRS for garments on hangers market segments, market trends and opportunities, and any further data you may need to thrive in the ASRS for garments on hangers industry. This ASRS for garments on hangers' market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The ASRS for garments on hangers market size has grown strongly in recent years. It will grow from $1.73 billion in 2023 to $1.9 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. Historical growth in this sector can be attributed to several factors. These include the expansion of the retail and e-commerce industries, heightened environmental awareness driving demand for sustainable solutions, the need for tailored storage solutions to accommodate diverse product assortments, an increasing emphasis on efficient space utilization and warehouse organization, and the impact of rising labor costs on operational efficiency.
The ASRS for garments on hangers market size is expected to see strong growth in the next few years. It will grow to $2.6 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. Anticipated growth in the forecast period can be attributed to several key factors. These include the rapid expansion of fast fashion, which requires agile and efficient storage solutions to accommodate dynamic inventory needs. Additionally, there is a rising demand for just-in-time inventory management to optimize supply chain operations. The emergence of smart cities necessitates smart logistics solutions to enhance efficiency in urban environments. Furthermore, increasing consumer expectations for quicker order fulfillment drive the need for faster logistics processes. Key trends expected in this period include the integration of AI and machine learning technologies to optimize storage and retrieval processes, providing customization options to meet diverse customer needs, integrating robotics for enhanced automation, adopting modular designs for flexibility and scalability, leveraging cloud connectivity for real-time data access, and advancements in technology to improve overall system efficiency.
The burgeoning e-commerce industry is poised to drive the growth of the ASRS for garments-on-hangers market in the foreseeable future. E-commerce, representing the online exchange of goods and services facilitated through the Internet, is propelled by factors such as increased internet penetration, consumer convenience, and evolving preferences favoring online shopping. ASRS for garments on hangers plays a pivotal role in enhancing inventory management and operational efficiency within e-commerce warehouses by facilitating swift and accurate processing of clothing orders. For instance, according to the International Trade Administration, the global B2C e-commerce revenue is projected to reach $5.5 trillion by 2027, with a steady compound annual growth rate of 14.4%. Additionally, the gross merchandise value (GMV) in 2023 surged to $24,453 billion from $21,019 billion in 2022. Hence, the surging e-commerce industry is a key driver propelling the ASRS for garments-on-hangers market.
Key players in the ASRS for garments-on-hangers market are actively introducing intelligent and advanced solutions, such as automated single-pick storage and retrieval systems, to augment their market offerings and product portfolio. These solutions are instrumental in facilitating efficient and precise warehouse inventory management, streamlining operations through automated picking and storage processes. For example, Planiform, a US-based provider of automated garments-on-hanger solutions, launched GOH Hivea in April 2021. This innovative system harnesses the power of smart robots to enhance the efficiency of storing and retrieving garments on hangers. GOH HivEA aims to optimize storage space, enhance retrieval processes, and improve operational efficiency in handling garments on hangers. The introduction of GOH Hivea signifies a significant leap in automated solutions for the garment industry, offering benefits such as enhanced time management, space utilization, labor efficiency, and ultimately, customer satisfaction.
In March 2022, Element Logic, a Norway-based company specializing in material-handling equipment, successfully acquired SDI Industries for an undisclosed sum. This strategic acquisition is aimed at consolidating Element Logic's position as a leading global integrator of automated warehouse solutions. The incorporation of SDI Industries into Element Logic's portfolio will facilitate an expanded presence in North and South America. SDI Industries, headquartered in the United States, is recognized for its expertise in material handling equipment and industrial automation, with a specific focus on providing Automated Storage and Retrieval Systems (ASRS) for garments on hangers (GOH).
Major companies operating in the ASRS for garments on hangers market are Dematic Corporation, Daifuku Co. Ltd., Vanderlande Industries Holding B.V., KNAPP AG, Mainetti, Mecalux S.A., TGW Logistics Group GmbH, Bastian Solutions Inc., Vecna Robotics Inc., Kardex AG, J.S. Hanger, Whitmor, SSI SCHAEFER Systems International Holding AG, Interroll Group, M&B Hangers, Conveyco Technologies Inc., Henry Hanger, Bend & Hook, Swisslog Holding AG, Noega Systems S.L., Westfalia Technologies Inc., Geek+ Robotics (Beijing) Co. Ltd., Bend & Hook
North America was the largest region in the ASRS for garments on hangers market in 2023. The regions covered in the asrs for garments on hangers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the asrs for garments on hangers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The ASRS for garments on hangers market consists of sales of automated garment sorting systems and robotic garment picking systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
ASRS For Garments On Hangers Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on ASRS for garments on hangers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for ASRS for garments on hangers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The ASRS for garments on hangers market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.