Automated Storage and Retrieval System Market to Reach US$8,573.0 Mn by 2021, with a CAGR of 7.1%
 |
| Automated Storage and Retrieval System Market |
A) Market Overview:
The global Automated Storage and Retrieval System (ASRS) Market is projected to reach a value of US$8,573.0 Mn by 2021, exhibiting a steady CAGR of 7.1% from 2022 to 2030. ASRS is an automated system that efficiently manages the storage and retrieval of goods in warehouses and distribution centers. It offers numerous advantages such as improved inventory management, reduced labor costs, increased storage capacity, and enhanced operational efficiency. The need for ASRS is driven by the growing demand for streamlining warehouse operations and the rising need for optimized space utilization. These systems enable efficient management of inventory, reduce errors, and ensure faster order fulfillment, thereby improving overall customer satisfaction.
B) Market Key Trends:
One of the key trends in the Automated Storage and Retrieval System (ASRS) market is the integration of advanced technologies such as robotics and artificial intelligence (AI). The incorporation of robotics in ASRS enables enhanced automation and optimization of warehouse processes. Robots can efficiently handle material movement and storage operations, reducing human intervention and improving efficiency. Moreover, AI algorithms can be integrated into ASRS systems to optimize picking and storage strategies, leading to increased accuracy and productivity. These technologies offer real-time data analytics, predictive maintenance, and intelligent decision-making capabilities, improving overall performance and operational efficiency of ASRS systems. The integration of robotics and AI is expected to be a significant trend in the ASRS market, revolutionizing the way warehouses and distribution centers manage their operations.
Segment Analysis:
The automated storage and retrieval system market can be segmented based on type, end-use industry, and region. On the basis of type, the market can be divided into unit load AS/RS, mini load AS/RS, vertical lift module (VLM), carousel & vertical carousel, and others. Among these segments, the unit load AS/RS segment is expected to dominate the market. This can be attributed to the increasing adoption of unit load AS/RS in various industries such as automotive, food and beverage, and retail, due to its ability to handle and store large loads efficiently.
Key Takeaways:
The global Automated Storage and Retrieval System Market Share is expected to witness high growth, exhibiting a CAGR of 7.1% over the forecast period. This growth can be attributed to the increasing demand for efficient and automated storage solutions across various industries, such as e-commerce, automotive, and food and beverage. The rising need for optimizing warehouse space and improving inventory management is driving the adoption of automated storage and retrieval systems.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the automated storage and retrieval system market. This can be attributed to the presence of major players in the region, technological advancements, and the increasing demand for automated storage solutions in various industries. Additionally, the growing e-commerce sector and the need for efficient order fulfillment processes are driving the market growth in North America.
Key players operating in the automated storage and retrieval system market are Murata Machinery, Ltd., Honeywell Intelligrated, Bastian Solutions, Inc., Dematic, TGW Logistics Group, Daifuku Co., Ltd., KNAPP AG, Beumer Group, SSI Schaefer Group, and Kardex Group. These players are focusing on strategic partnerships, acquisitions, and product innovations to strengthen their market position and cater to the growing demand for automated storage solutions.
Comments
Post a Comment