Report : Automated Storage and Retrieval System (ASRS) Market to 2025 – Global Analysis and Forecast by Types (Unit Load ASRS, Mini Load ASRS, Vertical Lift Module, Carousels and Others), and End-users (Automotive, Food & Beverages, Electronics, E-Commerce, Aerospace, Logistics, Retail, Pharmaceuticals and Others)
According to the new research report published by The Insight Partners, titled “Automated Storage and Retrieval System (ASRS)Market - Global Analysis and Forecast to 2025”, the global Automated Storage and Retrieval System (ASRS)Market is expected to reach US$ 13.81 Bn in 2025, registering a CAGR of 8.7% during the forecast period 2017 to 2025.
By 2025, APAC is estimated to be the fastest growing region during the forecast period globally.
Automated storage and retrieval system (ASRS) is one of the foremost material handling systems, which is widely used in automated production environment and distribution centers. ASRS have been utilized not only as an advanced alternative in traditional warehouses but also as a part of advanced manufacturing systems. ASRS plays an essential role in modern manufacturing plants for work-in-process storage and offer the benefits of improved inventory control and cost-effective utilization of time, space, and equipment. ASRS offers advantages related to improved inventory control and cost effective utilization of equipment, space and time. These advantages related to ASRS have fuelled the growth of the demand of ASRS systems over conventional storage and picking options.
The emergence of online shopping and e-commerce is resulting in bolstering the market growth for ASRS as well as the increasing adoption of automated solutions in manufacturing industries, particularly in developing economies. Further this is driving the demand for ASRS solutions. Some of the global key players operating in the ASRS market are Daifuku Co. Ltd., Intelligrated (part of Honeywell Inc.), Interlake Mecalux, Kardex Group, Vanderlande, System Logistics, Schaefer Systems International and Murata Machinery Ltd., Bastian Solutions, Swisslog Holding AB among others. Many companies are investing in ASRS owing to the potential improvements related to accuracy, operational efficiency, and timely order fulfilment, thereby helping them to enhance customer retention rate and compete efficiently in the market.
The Automated storage and retrieval system (ASRS) market in Asia Pacific is expected to grow at a CAGR of 11.1% during the forecast period 2016 – 2025. Countries like Japan, India, China, Australia, Singapore, Taiwan and Indonesia have a plethora of manufacturing industries pertaining to diverse sector that includes electronics, food & beverage, chemicals, textile, automobiles and healthcare. The manufacturing industry in the countries of Asia Pacific have experienced a huge shift over the years. The Asian manufacturing sector is known to rapidly adopt innovation accelerators that includes robotics along with the emerging cloud and mobility technologies. Over the years, the manufacturing spending of the region has grown significantly and is further anticipated to grow at a highest estimated growth rate. Furthermore, Government policies such as Make-in-India, in India encourage the setup of manufacturing plants in fast developing countries. The encouragement of manufacturing sector is done by the Government with a view to make the country self-sufficient first and then export the surplus produce.
Key findings of the study:
In our study, we have segmented the automated storage and retrieval system (ASRS) market by type, which includes Unit Load ASRS, Mini Load ASRS, Carousels, Vertical Lift Modules, and Others. Furthermore, the end user segment of the automated storage and retrieval system (ASRS) market is segmented into automotive, food & beverage, electronics, retail, e-commerce, logistics, aerospace, pharmaceuticals and others. On the basis of geography, the ASRS market is analyzed into North America, Europe, Asia- Pacific (APAC), Middle East & Africa (MEA) and South America (SAM) regions.
Some of the leading companies in the market are Daifuku Co. Ltd., Intelligrated (part of Honeywell Inc.), Interlake Mecalux, Kardex Group, Vanderlande, System Logistics, Schaefer Systems International and Murata Machinery Ltd., Bastian Solutions, Swisslog Holding AB among others.
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