Report : Automated storage and retrieval system (ASRS) Market to 2027 - Global Analysis and Forecasts by Type (Unit Load ASRS, Mini Load ASRS, Vertical Lift Module, Vertical Carousels, Horizontal Carousels, AutoStore, and Others); End-user Industry (Automotive, Food & Beverages, Electronic & Semiconductors, E-Commerce, Chemicals, Aerospace, Retail, Pharmaceuticals, and Others)
The global automated storage and retrieval system market was valued at US$ 2,349.9 Mn in 2018 and expected to reach US$ 4,616.1 Mn with a CAGR of 8.0% during the forecast period 2019 - 2027. Europe held the largest share of the global automated storage and retrieval system market in 2018, followed by North America and APAC. The automated storage and retrieval system market has been segmented into the 5 major regions: North America, Europe, APAC, the Middle East and Africa (MEA), and South America (SAM).
ASRS systems also play an essential role in robotics, where they are used to guide the autonomous robots called ‘self-navigating robots.’ Various industries such as electronics, automotive, aerospace, food & beverage, pharmaceuticals, and electronics are pretty concerned about reducing labor-intensive processes, increasing accuracy and speed for the task of storage, and retrieval of their products whenever required. A variety of ASRS systems are available in the market, out of which many systems are highly flexible and can be relocated. Other benefits include improved ergonomics, better inventory control, workplace safety, and others. However, the high cost associated with the installation, along with the overall maintenance cost, is hindering the market growth as it is often not affordable for small facilities to incur such costly automation.
The report segments the global Automated Storage and Retrieval System market as follows:
Global Automated Storage and Retrieval System Market - By Type
Global Automated Storage and Retrieval System Market - By End-user Industry
Global Automated Storage and Retrieval System Market - By Geography
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