The automated storage and retrieval system (ASRS) market is growing rapidly. Market growth attributes to the rising number of systems providers users and efficacies of inventory control and tracking systems, such as greater flexibility to accommodate changing business conditions. Moreover, the increasing demand of the AS/RS system to gain detailed value chain analysis of the warehouse and manufacturing sectors and information with high accuracy drives the market growth.
According to Market Research Future (MRFR), the global automated storage and retrieval system market valuation is estimated to reach approximately USD 10.81 BN by 2023, growing at 7.7% CAGR throughout the review period (2017-2023). Rising usages of the internet and smart connected devices are foster the growth of the automated storage and retrieval system (ASRS) market, generating the data.
Rising adoption of these systems in increasing numbers of businesses enterprises boosts the ASRS market growth. On the other hand, high deployment costs associated with ASRS act as a key headwind for the growth of the market. Nevertheless, rising uptake of the automated storage and retrieval system software across the growing number of enterprises would support the growth of the market throughout the review period.
Automated Storage and Retrieval System (ASRS) Market- Segments
The report is segmented into four dynamics:
By Type : Micro-load, Mini Load, Unit Load AS/RS, Vertical Lift Module, Horizontal / Vertical Carousel, and others.
By Applications : Replenishment, Security, Production, Consolidation, Assembly, Order picking, Kitting, Storage, and others.
By End-User : E-Commerce, Semiconductor Electronics, Automotive, Aviation, Chemicals, Food Beverages, Metals Heavy Machinery, Healthcare, and others.
By Regions : Asia Pacific, North America, Europe, and Rest-of-the-World.
Global Automated Storage and Retrieval System Market - Regional Analysis
North American dominates the global automated storage and retrieval system market. The largest market share attributes to the presence of several notable players and well-established sectors in the region. Moreover, broad uptake and advances in storage technologies drive the growth of the regional market.
Besides, the increasing investments transpired in the technology developments and retrieval systems foster regional market growth. Simultaneously, the demand for reliable backup and recovery systems support market growth in the region. The North American ASRS market is projected to retain its dominance throughout the estimated period.
Europe stands second in the automated storage and retrieval system market. The market growth attributes to the growing number of businesses and technology upgrades. Countries such as Germany, France, Italy, and the UK, would continue to contribute to regional market growth. Increasing economic growth is a significant tailwind behind the regional market growth. The European ASRS market is expected to witness rapid growth during the assessment period.
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The automated storage and retrieval system market in the Asia Pacific region is emerging as the fastest-growing market. The adoption of recovery software in BFSI and IT sector backup and protect their important data is a primary growth driver of the regional market. Rapid economic growth and spurted industrialization in the region fuel the growth of the regional market.
Moreover, the increasing numbers of start-ups in the region contribute to the growth of the market, resulting in data addition, thereby requiring backup facilities. China, Japan, and South Korea are major markets for the automated storage and retrieval system market. APAC automated storage and retrieval system (ASRS) market is estimated to create a substantial revenue pocket in the next six years.
Global ASRS Market- Competitive Analysis
The embryonic automated storage and retrieval system market appears to be fiercely competitive and fragmented due to the presence of several well-established players. Industry players adopt strategies such as collaboration, mergers acquisitions, expansion, and product/ technology launch to gain a competitive share in the market.
Major Players:
Players leading the global ASRS market include Swisslog Holding AG (Switzerland), TGW Logistics Group GmbH (Austria), Daifuku Co., Ltd. (Japan), Murata Machinery (Japan), SSI Schaefer Group (Germany), Knapp AG (Austria), Vanderlande Industries (Netherlands), Mecalux SA (Spain), System Logistics Corporation (Italy), Beumer Group (Germany), Bastian Solution (US), Kardex Group (Switzerland), and Dematic GmbH Co. KG (Germany), among others.
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