Automated Storage and Retrieval System Market by Type (Autostore, Carousel, Mid Load, Mini Load, Unit Load, and Vertical Lift Module), Function (Assembly, Distribution, Kitting, Order Picking, Storage, and Others), Industry Vertical (Aviation, Automotive, Chemicals, Retail & E-Commerce, Food & Beverages, Healthcare & Pharmaceuticals, Metals & Heavy Machinery, Semiconductors & Electronics, and Others), and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Automated Storage and Retrieval System (ASRS) Market Overview
The Automated Storage and Retrieval System (ASRS) Market size is projected to reach a CAGR of 7.9% from 2022 to 2028.
Automated storage & retrieval systems are inventory management systems commonly used in manufacturing centers, distribution facilities, and warehouses. They consist of variety of computer-controlled systems for automatically placing and retrieving loads from one site to another. These systems are used where high-volume loads are to be moved from one location to another, as they help provide quick, accurate, reliable, and low-cost solutions.
Maximized storage capacity, increased warehouse efficiency, lower energy consumption, less waste, and lower maintenance costs, and potential lifespan of 20–25+ years are some of the factors that have supported long-term expansion for Automated Storage and Retrieval System (ASRS) Market.
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The growth of automated storage and retrieval systems market is expected to decline due to restriction on mobility cross the globe and disrupted supply chain amid lockdown due to Covid-19 pandemic outbreak.
Automated Storage and Retrieval System (ASRS) Market Regional Analysis
North America dominated the global automated storage and retrieval system market. The growth of the region is attributed to the presence of a key market players, such as Microsoft Corporation, IBM Corporation, Amazon web services, and others.
Automated Storage and Retrieval System (ASRS) Market Competitive Landscape
Key Players
• Bastian Solutions, Inc.
• Beumer Group
• Daifuku Co., Ltd.
• Dematic
• Honeywell Intelligrated
• Kardex Group
• KNAPP AG
• Murata Machinery, Ltd.
• SSI Schaefer Group
• TGW Logistics Group.
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Automated Storage and Retrieval System (ASRS) Market Recent Developments
• In October 2020, Tencent-backed food delivery service, Meituan-Dianping, introduced its first-ever innovative AI retail store, MAI Shop, within Beijing's Shougang Park. The store is equipped with a combination of AI and robotics, which are regularly seen in New Retail formats across supermarkets, convenience stores, and more in China. The combined technology brings an unmanned delivery retail experience as Meituan integrates a fully automated warehouse and distribution to maximize its takeout delivery capacity.
• In September 2020, in preparation for the festive season, Amazon India had announced the expansion of its sort center network. The five new centers will be launched in Vishakhapatnam, Farukhnagar, Bangalore, Mumbai, and Ahmedabad. Amazon India uses technology and automation in its sortation networks, such as Auto Sorters and Sort Slides. Sort Slides will ensure fast manual sortation of packages, and Auto Sorters are entirely automated machines that perform end-to-end sorting of packages. This expanded and automated network is expected to significantly increase the speed of transporting packages for sellers and customers in the country.
Reasons to Acquire in the Automated Storage and Retrieval System (ASRS) Market
• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Automated Storage and Retrieval System (ASRS) Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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