Market Definition
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 comprises a storage system, retrieval system, and computer-control system.
Market Outlook
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.
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.
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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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Key Market Segments
The automated storage and retrieval system can be segmented by type, function, industry vertical, and region. By type, the market can be divided into auto store, carousel, unit load, vertical lift module, and others. By function, the market can be divided into assembly, distribution, order picking, storage, and others. By industry vertical, the market can be divided into automotive, chemicals, retail & E-commerce, food & beverages, metals & heavy machinery, and others. By region, the market is divided into North America, Europe, Asia Pacific, and the Rest of the World.
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Key Players
The automated storage and retrieval system market includes players such as Bastian Solutions, Inc.(US), Beumer Group(DE), Daifuku Co., Ltd.(JP), Dematic(US), Honeywell Intelligrated(US), Kardex Group(CH), Knapp AG(AT), Murata Machinery, Ltd.(JP), SSI Schaefer(US), TGW Logistics Group(AT)
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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