According to a new market research report published by Global Insight Services “Automated Storage and Retrieval System (ASRS) Market is expected to reach US$ XX bn by 2031”. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
An Automated Storage and Retrieval System (ASRS) is a computer-controlled system. It is used for storing and retrieving materials including inventory, raw materials, and finished products. The system is composed of a storage system, retrieval system, and computer-control system. The storage system consists of racks, shelves, or bins that are used to store materials. Besides, the retrieval system consists of a crane or other type of material-handling equipment that is used to retrieve materials from the storage system. Further, the computer-control system is used to coordinate the activities of the storage and retrieval systems.
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Key Players
- Bastian Solutions, Inc.
- Beumer Group
- Daifuku Co., Ltd.
- Dematic
- Honeywell Intelligrated
- Kardex Group
Key Trends
The key trends in the ASRS market are the increased use of robotics, sensors, barcoding, cloud-based systems, and artificial intelligence. These technologies are widely being used in the ASRS system to automate material handling tasks, and track materials & automate inventory management. This trend is driven by the need for increased speed and accuracy in material handling, as well as the desire to reduce labor costs. Sensors and barcoding support the need for real-time visibility into inventory levels and the desire to reduce errors and improve efficiency. Cloud-based ASRS systems are becoming more popular as they offer increased flexibility and scalability. AI is being used more frequently in ASRS systems to automate decision-making. The use of these technologies helps to adapt to changing conditions and the desire to reduce human involvement in system operation.
Key Drivers
The key drivers of the Automated Storage and Retrieval System (ASRS) market are the increasing need for efficient storage and retrieval of materials, the need for high throughput, and the need for flexibility in storage and retrieval operations. ASRS systems are used in a variety of industries, including manufacturing, healthcare, logistics, and retail. The adoption of ASRS systems has grown substantially with the growing need for automation in several industrial sectors. Companies are inclining toward implementing automation solutions to mechanize their processes to distribute high-quality products, serve customers better, grow their industrial capabilities, and proficiently manage their processes. This, in turn, supports the automated storage and retrieval system market expansion.
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Key Market Segments
- By Type
- Autostore
- Carousel
- Unit Load
- Vertical Lift Module
- Others
- By Function
- Assembly
- Distribution
- Order Picking
- Storage
- Others
- By Industry Vertical
- Automotive
- Chemicals
- Retail & E-Commerce
- Food & Beverages
- Metals & Heavy Machinery
- Others
Reasons to buy Automated Storage and Retrieval System (ASRS) Market Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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