Global Automated Storage and Retrieval System Market (ASRS)

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Global Automated Storage and Retrieval System Market (ASRS) is expected to reach US$ 7.8Bn by 2026 from US$ 3.5Bn in 2017 at CAGR of 10.5%.

Global automated storage and retrieval system (ASRS) market are segmented by type, function, industry and region. Type is divided into a unit load, mini load, vertical lift module (VLM), carousel, mid load, and auto store. A function is classified as assembly, kitting, order picking, distribution and storage. The industry is categorised into automotive, chemicals, aviation, semiconductor & electronics, E-Commerce, food & beverages, healthcare, and metals & heavy machinery. Region-wise divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Global Automated Storage and Retrieval System Market (ASRS)

The major factor driving the growth of global automated storage and retrieval system (ASRS) market is a growing demand for consumer electronic products across the world. Continuous innovation and technological advancement such as artificial intelligence, IoT and virtual reality in consumer electronic products have increased the demand for this industry. The high demand for consumer electronic products across the globe has created the need for automated storage and retrieval system in the consumer electronics industry for handling inventory and picking and storing materials. Additionally, the automotive industry is anticipated to propel the growth of automated storage and retrieval system market in near future. Rise in demand for the electric car is the key driving factor for the growth of the automotive industry. The high initial share required for automated storage and retrieval system can limit the growth of the market. But, automated storage and retrieval system can improve the productivity and efficiency of the company and also reduces the labour cost.

Based on function, order picking segment is anticipated to grow with highest CAGR between forecast periods. Automated Storage and Retrieval System is broadly used for picking orders in warehouses, manufacturing plants, and distributions centres. This automated storage and retrieval system picks up the finished orders from the manufacturing plants and transports it to warehouses and distribution centre.

On the basis of type, Unit-Load is dominating the market. The Unit-Load automated storage and retrieval system (ASRS) market are designed for larger loads which are pallets or pallet-sized loads. Some of the systems are over 100 feet tall. Unit-Load ASRS systems are bigger systems that typically store pallet loads. Smaller systems which are usually called mini-load ASRS allow selection of items in totes, trays or cartons. The benefits of a fixed aisle system such as ASRS are the reduced space required and the compact labour needed to store and retrieve materials efficiently.

In terms of region, Asia Pacific automated storage and retrieval system market is estimated to register the highest CAGR growth during the forecast period. Increasing e-commerce industry is expected to trigger the growth of the automated storage and retrieval system ASRS market. The rising trend of online shopping, increased automotive industry, and innovation in consumer electronic products anticipates propelling the growth of the market.

Key players operating on the ASRS market are, Arkrobot, Automation Logistics Corporation, Bastian Solutions, Inc., Beumer Group, Daifuku Co., Ltd., Dematic GmbH & Co. Kg, Flexe, Inc., Green Automated Solutions, Kardex Group, Knapp AG, Kubo Systems, Mecalux S.A., Murata Machinery, Ltd., SSI Schaefer Group, Swisslog Holding AG, System Logistics Corporation, TGW Logistics Group GmbH, and Vanderlande Industries BV.
For more Imformation : https://www.maximizemarketresearch.com/market-report/global-automated-storage-and-retrieval-system-market/20700/

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