A recent report published by Infinium Global Research on the automated storage and retrieval system (ASRS) market provides an in-depth analysis of segments and sub-segments in the global as well as regional automated storage and retrieval system (ASRS) market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional automated storage and retrieval system (ASRS) market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global automated storage and retrieval system (ASRS) market. According to the report, the global automated storage and retrieval system (ASRS) market is projected to grow at a CAGR of 8% from USD 7.9 Billion in 2020 to USD 12.2 Billion in 2026 during the forecast period of 2020-2026.
Automated storage & retrieval systems (ASRS) are inventory management systems commonly utilized in manufacturing centers, distribution facilities, and warehouses. They comprise a variety of computer-controlled systems for automatically placing and retrieving loads from one site to another. The automated storage & retrieval systems are widely utilized where high-volume loads are to be moved from one location to another, as they aid provide quick, accurate, reliable, and low-cost solutions. Thanks to the development of the global automated storage and retrieval system (ASRS) market, the materials flow and control are improved by technologically evolving. Automated storage and retrieval systems (ASRS) are majorly used by an extensive range of industries, such as chemicals, automotive, food and beverages, e-commerce, and others.
The automated storage and retrieval system (ASRS) market is majorly driven by the ever-growing demand for effective material management systems across abundant industrial organizations. Furthermore, manufacturing organizations spend a fortune on precise material storage, retrieval, and handling. Nevertheless, human labour does not properly justify the time and money involved in material storage and retrieval. In order to overcome such problems, manufacturing units and warehouses are primarily choosing automated storage and retrieval systems. Customization and flexibility are other major factors boosting the automated storage and retrieval system (ASRS) market growth. On the other hand, factors such as high installation costs and overall maintenance cost are few limitations that affect the automated storage and retrieval system (ASRS) market growth, as small plants cannot prefer such costly automation.
Additionally, the current concern over the spread of coronavirus is also expected to have a positive impact on the automated storage and retrieval system (ASRS) market. The global efforts to contain the epidemic’s spread have changed the daily habits of customers, consumption patterns, and ways of thinking, which has given an improvement to domestic economies and increases in online services. The COVID-19 outbreak is rapidly changing consumer behavior toward online channels. Furthermore, online demand has augmented for multiple categories, comprising food and beverages, essentials, and pharmaceuticals that are being provided with innovative contactless formats. This has given a drive to the growth of e-commerce, automotive, and food, and beverage businesses. The demand for warehousing has also increased owing to the online demand for numerous products. Various multinational companies are setting up new warehouses across several countries to accommodate this augmented demand. E-commerce giants, for example, Amazon, Alibaba, and eBay are ramping up the demand for automated storage and retrieval system as they continue to set up new warehouses globally. The amplified number of warehouses necessitates the installation of automated storage and retrieval systems for proper inventory management, cataloging, and retrieval services.
The North American region is expected to dominate the global automated storage and retrieval system (ASRS) market owing to the presence of key market players, such as Microsoft Corporation, IBM Corporation, Amazon web services, and several others. Furthermore, an increase in the adoption of big data technologies among organizations to improve consumer target marketing and risk management abilities is anticipated to boost the growth of the automated storage and retrieval system (ASRS) market. Moreover, the Asia Pacific region is expected to grow with a significant CAGR in the global automated storage and retrieval system (ASRS) market over the forecast period. The rapid growth of automotive, food & beverages, and healthcare industries in developing economies such as China, Japan, Australia, and South Korea has contributed to the growth of the automated storage and retrieval system (ASRS) market in the Asia Pacific.
The report on the global automated storage and retrieval system (ASRS) market covers segments such as type, function, and industry. On the basis of type, the sub-markets include unit load, mini load, vertical lift module (VLM), carousel, and mid load. On the basis of function, the sub-markets include storage, order picking, distribution, assembly, kitting, and others. On the basis of industry, the sub-markets include automotive, food & beverages, chemicals, healthcare & pharmaceuticals, semiconductor & electronics, retail, aviation, e-commerce, and others.
The report provides profiles of the companies in the market such as Bastian Solutions, Inc., Beumer Group, Daifuku Co., Ltd., Dematic, Honeywell Intelligrated, Kardex Group, KNAPP AG, Murata Machinery, Ltd., SSI Schaefer Group, and TGW Logistics Group.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the automated storage and retrieval system (ASRS) market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.