Automated Storage and Retrieval System (ASRS) Market

Market Leader - Automated Storage and Retrieval System (ASRS) Market

The automated storage and retrieval system market is estimated to be USD 7.6 billion by 2019 and is projected to reach USD 11.0 billion by 2024, at a CAGR of 7.7%. An automated storage and retrieval system (ASRS) is a device used in manufacturing plants, warehouses, and distribution centers for storing and retrieving loads from one storage location to another. An ASRS comprises various computer-controlled systems and equipment that are used to store and accurately retrieve materials in industries, such as automotive, chemicals, aviation, semiconductors & electronics, e-commerce, retail, food & beverages, healthcare, and metals & heavy machinery. ASRS offers a high degree of accuracy, efficiency, and high-throughput inventory management capabilities. The increasing demand for ASRS in the automotive industry; optimum utilization of space and rise in labor costs; and improved accuracy, productivity, and efficiency in supply chain, along with better inventory control are the major factors driving the growth of the market.

The market for autostore ASRS is expected to grow at the highest CAGR from 2019 to 2024. Autostore allows complete configurability and flexibility. In this system, bins are stacked vertically in a cube like a grid and are retrieved by robots that travel to the top layer of the system. This makes it possible for the grid to be placed around columns, on mezzanines, and on multiple levels. The system can also be easily expanded and modified because of this design. End users are willing to implement autostore ASRS to manage material flow, increase goods throughput, and deliver real-time management information. Autostore, being the most innovative and modern form of ASRS, is expected to grow at a rapid rate.

To know about the assumptions considered for the study download the pdf brochure

The ASRS market for order picking is estimated to grow at the highest CAGR from 2019 to 2024. Order picking process includes retrieving and presenting the required inventory to pickers. It is a logistic warehouse’s process that involves collecting and taking inventory in specified quantities. Order picking is widely used in healthcare, food & beverages, retail, and e-commerce. Growing competition in these industries is enforcing companies to reduce their delivery time, which is fuelling the demand for ASRS for order picking function. 

Retail industry is expected to register the highest CAGR in the ASRS market during the forecast period. Retail uses ASRS for implementation in huge megastores comprising a vast variety and quantity of goods stored at a single location. To efficiently manage the storing and retrieving of products from shelves to the customer in minimum time, companies use ASRS. Increasing competition in retail owing to rise in online, e-commerce, and m-commerce platforms has led the owners of convenience and specialty stores to adopt innovative technologies. The implementation of ASRS allows companies to have an efficient method of operations, optimum use of resources, and profitable forecasting.

APAC is expected to be the fastest-growing market for ASRS during 2019–2024. China and Japan are the countries driving the growth of the ASRS market in APAC. The rapid growth of automotive, food & beverages, and healthcare in emerging economies such as China, Japan, Australia, and South Korea has contributed to the growth of the ASRS market in APAC.

Related Reports:

Automated Storage and Retrieval System (ASRS) Market by Type (Unit Load, Mini Load, VLM, Carousel, Mid Load, Autostore), Function (Assembly, Kitting, Order Picking, Distribution, Storage), Industry, and Geography - Global Forecast to 2024

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

Report Code
SE 3360
RI Published ON
4/23/2019
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Automated Storage and Retrieval System (ASRS) Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
ONLINE CHAT
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved