Market Analysis
Market Research Future (MRFR) projects the global automated storage and retrieval system market to reach USD 10.81 billion at a 7.7% CAGR from 2017 to 2023 (forecast period).
AS/RS Systems are the abbreviation for automated storage and retrieval systems. These systems give users better inventory control and tracking, as well as more flexibility to adapt to changing business situations. The increased need for AS/RS systems aids in the provision of a complete value chain analysis of the warehouse and manufacturing sectors, as well as the provision of accurate information. The organic automated storage and retrieval system segment is predicted to account for the majority of the market share, owing to its ability to provide efficient order fulfillment while also lowering labor costs for material storage and retrieval.
Key Players
The prominent players in the global Automated Storage And Retrieval System (ASRS) Market are –TGW Logistics Group GmbH (Austria), Swisslog Holding AG (Switzerland), Daifuku Co., Ltd. (Japan), SSI Schaefer Group (Germany), Murata Machinery (Japan), Knapp AG (Austria), Mecalux SA (Spain), Vanderlande Industries (Netherlands), System Logistics Corporation (Italy), Bastian Solution (US), Beumer Group (Germany), Dematic GmbH & Co. KG (Germany) and Kardex Group (Switzerland) among others.
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According to the study, Automated Storage and Retrieval Systems (AS/RS) are often used in applications with a high volume of loads being moved in and out of storage. This storage density is also significant because, due to space limits, no value-adding content is present in this process.
The automated storage and retrieval system aids in the expansion of the business and the achievement of big goals. The AS/RS also meets the space needs of over 300 well-known companies, like Van Den Ban, Audi, and others. Furthermore, this system provides real-time data, which eliminates the need for physical storage while simultaneously enabling direct access to items at all times, indicating it as a primary driver of automated storage and retrieval systems.
COVID-19 Impact on the Global Automated Storage and Retrieval System Market
The COVID-19 pandemic has resulted in significant global effects. The global efforts to restrict the pandemic's spread have transformed consumers' daily habits, buying patterns, and ways of thinking, which has boosted domestic economies and improved online services. Consumer behavior is rapidly shifting toward internet platforms as a result of the pandemic. Online demand has expanded for a variety of categories, including food and beverages, necessities, and pharmaceuticals, which are delivered in innovative contactless formats. This has accelerated the rise of the e-commerce, automotive, and food and beverage industries. The online demand for numerous products has also boosted the demand for warehousing. To meet the rising demand, several global corporations are establishing new warehouses in several nations. E-commerce behemoths like Amazon, Alibaba, and eBay are driving increased demand for ASRS as they continue to open new warehouses throughout the world. Because of the rising number of warehouses, ASRSs must be installed for proper inventory management and retrieval services.
Since the COVID-19 hit the market in early 2020, causing lockdowns in many nations, there has been a halt in general demand activity in a variety of industries, including automotive, electronics, and chemicals. Because the e-commerce sector is constantly under pressure to procure and distribute a large number of articles in a short period of time, e-commerce companies have implemented automation in their facilities.
Market Segmentation
The worldwide automated storage and retrieval system industry has been segmented into type, applications, and end-user.
By type, the worldwide automated storage and retrieval system industry has been segmented into unit load, mini load, and micro load.
By applications, the global automated storage and retrieval system market has been segmented into order picking, replenishment, kitting, order picking, distribution, and storage.
By end-user, the worldwide automated storage and retrieval system industry has been segmented into semiconductor & electronics, e-commerce, automotive, chemicals, aviation, and food & beverages.
Regional Analysis
The regional analysis of the global automated storage and retrieval system (ASRS) market is being studied for regions like Asia Pacific, North America, Europe and the Rest of the World.
Because of the existence of numerous industries that drive the market, North America is one of the leading regions in the world in terms of the greatest market share in the automated storage and retrieval system market. The market for automated storage and retrieval system (ASRS) in Europe is predicted to expand rapidly. Asia Pacific countries such as China, Japan, and South Korea, on the other hand, are a rising market for automated storage and retrieval system (ASRS).
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