03-Jan-2020 | Facts and Factors
Facts and Factors Market Research has published a new report titled “Automated Storage and Retrieval System (ASRS) Market By Type (Unit Load, Mini Load, Vertical Lift Module (VLM), Carousel, & Mid-Load), By Function (Storage, Order Picking, Distribution, Assembly, Kitting, & Others), By Application (Automotive, Metals & Heavy Machinery, Foods & Beverages, Chemicals, Healthcare, Retail, Aviation, E-commerce, & Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 - 2026”. According to the report, the global Automated Storage and Retrieval System (ASRS) market is predicted to be valued at approximately USD 7.3 Billion in 2020 and is expected to reach a value of around USD 10.3 Billion by 2026, at a CAGR of around 6.7% between 2021 and 2026.
Automated Storage and Retrieval System (ASRS) comprises computer-regulated systems for mechanically placing & retrieving loads from particular storage sites. The system is utilized when a high amount of loads are moved in and out of storage. Moreover, storing with the help of automated storage and retrieval system means exact as well as real-time data is put on inventory, thereby reducing the necessity of physically examining the inventory along with offering direct access to inventory items. In addition to this, using AS/RS enhances the efficacy & throughput along with saving space.
Browse the full “Automated Storage and Retrieval System (ASRS) Market By Type (Unit Load, Mini Load, Vertical Lift Module (VLM), Carousel, & Mid-Load), By Function (Storage, Order Picking, Distribution, Assembly, Kitting, & Others), By Application (Automotive, Metals & Heavy Machinery, Foods & Beverages, Chemicals, Healthcare, Retail, Aviation, E-commerce, & Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 - 2026” Report at https://www.fnfresearch.com/automated-storage-and-retrieval-system-asrs-market-by-138
Escalating demand for vehicle and consumer electronics goods to impel the business trends
Large-scale use of the automobile and consumer electronic products is set to provide a boost to the growth of the automated storage and retrieval systems (ASRS) industry over the forecast period. Additionally, innovative technologies have brought a paradigm shift in automotive storage & retrieval systems. Moreover, the massive popularity of consumer electronic products as a result of the high income & purchasing capacity of the customers across the emerging economies will steer the growth of the market over the period from 2019 to 2027.
Furthermore, enhanced supply chain efficacy and output is expected to steer the growth of the automated storage and retrieval systems (ASRS) business over the forecast timeline. Additionally, an effective automated storage and retrieval system assists firms to curb expenditure through the reduction of unnecessary parts in storage, thereby enhancing the content organization of a warehouse. All these aforementioned factors are expected to accelerate the growth of the market during the forecast timespan.
Moreover, automation helps the firm diminish labor costs while sinking workforce needs along with raising safety. Nevertheless, the huge requirement of capital for system installing can pose a challenge to the expansion of the market over the period from 2019 to 2027. However, the growing inclination towards the use of mid-load and pallet shuttle technologies coupled with the high popularity of ASRS-based cold chains will offer new growth avenues for the market.
Autostore segment to record highest CAGR over the forecast period
The segment is predicted to register the highest growth rate of more than 12% during the forecast timeline owing to the ability of Autostore in allowing complete configurability along with an offering of flexibility.
Automotive to dominate the industry segment by 2027 in terms of revenue
The growth of the automotive segment during the forecast timeline is credited to the massive usage of automated storage and retrieval systems in vehicles.
Europe to contribute majorly towards the overall market revenue share by 2027
The regional market growth during the forecast timeline is credited to swift industrialization and growing space restrictions across the region. Apart from this, the thriving automotive sector in countries like Germany will further contribute towards the regional market growth over the period from 2019 to 2027.
Some of the key participants in the business include Mecalux S.A., Knapp AG, TGW Logistics Group GmbH, Arkrobot, Swisslog Holding AG, Green Automated Solutions, Murata Machinery, Ltd., System Logistics Corporation, Automation Logistics Corporation, Bastian Solutions, Inc., Dematic GmbH & Co. Kg, Beumer Group, Daifuku Co., Ltd., Flexe, Inc., Kardex Group, Kubo Systems, SSI Schaefer Group, and Vanderlande Industries BV.
This report segments the Automated Storage and Retrieval System (ASRS) market as follows:
Automated Storage and Retrieval System (ASRS) Market: By Type Analysis
- Unit Load
- Mini Load
- Vertical Lift Module
- Vertical Carousel
- Horizontal Carousel
- Mid Load
Automated Storage and Retrieval System (ASRS) Market: By Function Analysis
- Order Picking
Automated Storage and Retrieval System (ASRS) Market: By Industry Analysis
- Electronics & Semiconductor
- Food & Beverages
- Metal & Heavy Machinery
Automated Storage and Retrieval System (ASRS): By Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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