An automated storage and retrieval system can be described as combination of systems, managed by only computers, which store or retrieve items in and from their appropriate locations respectively. An automatic storage and retrieval system is especially vital when the movement of good takes place in high volumes or tight spaces. The latest ASRS technologies ensure top-notch accuracy and security. An automated storage system also enables real-time inventory tracking and greater operation flexibility. Other benefits of the automatic storage and retrieval system include saving on labor costs, ensuring the safety of personnel in dangerous environments. Thus, in the age of E-commerce, the Automated Storage & Retrieval Systems Market is on the cusp of experiencing a significant amount of growth during the forecast period of 2016-2022.
Scope & Regional Forecast of the Automated Storage & Retrieval Systems Market
The Automated Storage & Retrieval Systems Market considers the prime growth drivers to be a few factors like: growing enterprise requirement to make use of space and labor in an optimal fashion; improving the productivity and performance of entire supply chains through a automated storage solution and automated retrieval system; growing industrial confidence that automated material handling can be relied upon; and technological advances in storage retrieval system development like shuttles and mid-load.
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Due to above-mentioned factors, the Automated Storage & Retrieval Systems Market revenue is poised to reach $8.44 billion, accompanied by a CAGR of 7.29%, in 2021. E-commerce is currently booming in the region of Asia-Pacific. So it is no surprise to see it has grabbed the largest share in the market for automatic storage and retrieval system technology. It is also expected to register the highest growth rate during the forecast period as major players like Alibaba and Amazon significantly increase their warehouse and distribution centers.
Segmentations & Key Players Involved in the Automated Storage & Retrieval Systems Market
The Automated Storage & Retrieval Systems Market can be broken down into various segmentations on the basis of –
Type: Unit Load AS/RS, Mini Load AS/RS, Micro Load AS/RS, Vertical Lift Modules and Carousels (Horizontal Carousels, Vertical Carousels).
Equipment: Storage Aisles and Storage/Retrieval (S/R) Machine (Telescopic Forklifts, Manual Forklifts, Swing Reach Trucks, Turret Trucks, Narrow Aisle Forks, Rotating Forks, Others).
Function: Assembly, Order Picking, Storage, Consolidation, Replenishment and Kitting.
Application: Automotive, Chemicals, Food and Beverage, General Manufacturing, Semiconductors and Electronics, Life Sciences, Aerospace, E-Commerce and Others.
Geographical Location: Americas, Europe, Asia-Pacific and Rest of the World.
Some of the key players involved in the Automated Storage & Retrieval Systems Market are as follows:
The Schaefer Group
Automated Fork Truck, Inc.
Beumer Group Gmbh & Co. Kg
Daifuku Co., Ltd.
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