Automated Storage and Retrieval System (ASRS) - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Automated Storage and Retrieval System (ASRS) market is accounted for $6.93 billion in 2018 and is expected to reach $15.94 billion by 2027 growing at a CAGR of 9.7% during the forecast period. Some of the key factors propelling the market growth are growing demand for these systems in automotive industry and improved accuracy, productivity, and efficiency in supply chain. However, initial investments required and need for technical and training are the restraining factor for the growth of the market.
Automated storage and retrieval system (ASRS), also referred as AS/RS is an automated system which is used for efficient in-house storage and handling of material. They are a type of warehouse technology wherein goods are automatically brought and placed back into storage. This is commonly accomplished by pairing the technology with warehouse execution software (WES) that manages the procedure and guides warehouse personnel process orders. This system has various advantages that help in making the warehouse or order fulfilment operations more efficient, and furthermore it permits you to allocate personnel to higher-value tasks more smartly. It also reduces the time and human work needed for material handling. It is one of the most significant and accurate methods for material storage and retrieval process.
By end user, retail segment is expected to grow at the significant market share during the forecast period. Retail these systems for implementation in huge megastores comprising a vast variety and quantity of goods stored at a single location. To efficiently manage the storing and retrieving of products from shelves to the customer in minimum time, companies use these systems. With the rising focus of retailers to develop the shopping experience of the customers, technology associated with retail is progressing.
On the basis of geography, Asia Pacific is anticipated to hold considerable market share during the forecast period. China and Japan are the countries driving the growth of the market in the region. The rapid growth of automotive, food & beverages, and healthcare in emerging economies such as China, Japan, Australia, and South Korea has contributed to the growth of the market in the region. China is a key contributor owing to its huge industrial and manufacturing sectors.
Some of the key players in Automated Storage and Retrieval System (ASRS) Market include Bastian Solutions, Beumer Group, Daifuku, Dematic, Kardex Group, KNAPP, Mecalux, Murata Machinery, SSI Schaefer, Swisslog, System Logistics Corporation, TGW Logistics Group and Vanderlande Industries.
• Fixed Aisle System
• Mid Load
• Mini Load
• Vertical Lift Module
• Unit Load
• Storage and Retrieval Machines
• Order Picking
• Other Functions
• Aviation & Logistics
• Food & Beverages
• General Manufacturing
• Metals & Heavy Machinery
• Post & Parcel
• Semiconductors & Electronics
• Spare Parts Handling
• Third-party Logistics
• Warehousing and Distribution
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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