ASRS Market 2017-2022 Analysis, Company Profiles, Competitive Landscape and Key Regions
Automated storage and retrieval system market to be valued at $9.18billion, growing at a CAGR of 7.37% between 2017 and 2023. Research Report covers top 18 Companies, Competitive Strategies, Top Segments, Market Trends, Share, and Regional Outlook in near future and overall industry analysis
Pune, India – July 19, 2017 /MarketersMedia/ —
Europe held the largest share of the automated storage and retrieval systems market in 2016, and the trend is expected to continue during the forecast period. The growth of the market for automated storage and retrieval systems in Europe is driven by the presence of several end-use industries such as automotive and aviation in countries such as Germany, the UK, and France. The market is also witnessing growth due to the increasing awareness about automated material handling technology and its benefits, such as reduction in labor costs, among manufacturers.
Some of the major players operating in the automated storage and retrieval system market are: Daifuku Co. Ltd. (Japan), SSI Schaefer Group (Germany), Murata Machinery (Japan), Knapp AG (Austria), TGW Logistics Group GmbH (Austria), Kardex Group (Switzerland), Swisslog Holding AG (Switzerland), Mecalux SA (Spain), Vanderlande Industries (Netherlands), System Logistics Corporation (Italy), Bastian Solution (US), Beumer Group (Germany), Dematic GmbH & Co. KG (Germany)
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The automated storage and retrieval system market is expected to be valued at USD 9.18billion by 2023, growing at a CAGR of 7.37% between 2017 and 2023. The major factors driving the growth of the market include limited space and minimal labor utilization enabled by the adoption of new ASRS-based technologies, improved supply chain efficiency and productivity, real time inventory control at lower costs, and multichannel supply chain strategy in retail.
The report covers the automated storage and retrieval system market, segmented on the basis of type, function, industry, and geography. The study identifies and analyzes the market dynamics such as drivers, restraints, opportunities, and industry-specific challenges. It also profiles the key players operating in the market.
The ASRS market for order picking is expected to grow at a high rate between 2017 and 2023.The order picking process includes retrieving and presenting the required inventory to pickers. Automated storage and retrieval systems are widely used in manufacturing plants, warehouses, and distributions centers for order picking. These systems retrieve finished goods from the manufacturing plants for transportation to warehouses and distribution centers.
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In terms of type, the automated storage and retrieval system market has been segmented into unit load, mini load, vertical lift module (VLM), carousel, mid load, and auto store. Unit load held the largest share of the ASRS market in 2016. Unit-load ASRS is a high-density automated storage and retrieval system that enables highly efficient, accurate, safe, and stable handling of full pallets, roll cages, containerized loads, and large items.
On the basis of function, the automated storage and retrieval system market has been segmented into assembly, kitting, order picking, distribution, storage, and others. Storage functions held the largest share of the SRS market in 2016, and the same trend is expected to continue during the forecast period. Storage is a basic function of ASRS; it enhances the storing capacity at distribution centres as well as at manufacturing plants.
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Research Coverage: In this report, various segments such as type, function, industry, and geography have been covered. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. The report gives a detailed view of the market across four main regions: North America, Europe, APAC, and RoW. The ASRS value-chain analysis has been included in the report, along with the key players and their competitive analysis.
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