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Meticulous Research®—a leading global market research company published a research report titled “Automated Storage and Retrieval Systems Market by Load (Unit, Mini, Micro), Type (VLM, Carousel, VBM, Shuttle), Application, End-user (Automotive, Healthcare, Food and Beverage, Semiconductor, Manufacturing, Retail, Warehousing)—Global Forecast to 2027.”
According to this Latest Publication from Meticulous Research®, the Automated Storage and Retrieval Systems (ASRS) Market is Expected to Reach $10.3 Billion by 2027 at a CAGR of 6.0% from 2020 to 2027. The growth of the ASRS market is majorly attributed to the growing demand for ASRS in industries, including e-commerce and automotive, increasing order velocity and volume, and rising need for fast, accurate, & efficient fulfillment for in-store retailing. The growing adoption of automated storage and retrieval systems coupled with rising investment capabilities of industrial users in the developing countries is expected to create immense growth opportunities for the market players over the forecast period. Moreover, dynamic technological advancements in ASRS powered by cutting-edge sensors technology and constant labor shortage across industries are expected to boost the market growth in the coming years.
In addition, the incorporation of identification technologies, including barcode and RFID, to transform the existing system to the next level is expected to increase the demand for ASRS systems. However, high initial investment and lack of technical expertise & skilled workforce to handle system operations in emerging economies are the primary restraining culprits for the market growth.
The automated storage and retrieval systems market study presents historical market data (2018 & 2019), estimated current data (2020), and forecasts till 2027. The ASRS market is segmented on the basis of load, type, application, end user, and geography. The study also evaluates industry competitors and analyzes the market at the country-level.
Based on load, the ASRS market is broadly segmented into unit-load, mini-load, and micro-load. The unit-load segment is estimated to account for the largest share of the overall ASRS market in 2020. The segment is also projected to record the highest CAGR during the forecast period. The large share of this segment can be attributed to the consistent need for improving business efficiency, growing demand to meet shipping deadlines during peak times, persistent need to reduce incineration cost and improve yield ratio, and growing automation in handling for dry, fresh, and cold chain shipping operations.
Based on type, the ASRS market is segmented into vertical lift modules (VLM), carousels, crane-based, vertical buffer modules (VBM), robotic shuttles, and floor robots. In 2020, the floor robots segment is estimated to account for the largest share of the overall automated storage and retrieval systems market. The segment is also projected to record the highest CAGR during the forecast period. This growth can be attributed to the growing focus on warehouse floor space optimizing, growing need to deliver requisites with a minimum hassle, surge in piece picking requirements, and increasing demand for highly compact and cost-effective storage & order picking systems. Besides, the growing emphasis on quadruple inventory capacity of existing infrastructure, shrinking labor availability, and constricted warehouse space are also supporting the growth of this segment.
Based on application, the ASRS market is segmented into storage, order picking, kitting, buffering, and others. In 2020, the storage segment is estimated to account for the largest share of the overall ASRS market. The large share of the segment is mainly attributed to the growing emphasis on minimalizing human interaction with transit loads, reduced goods damage, curtailing industrial accidents, increasing demand for sophisticated storage alternatives, and the rapidly booming e-commerce sector. Besides, automated cold chain storage for the distribution of COVID-19 vaccines is also expected to play a quintessential role in the growth of this market in the coming years.
Based on end user, the ASRS market is segmented into automotive, semiconductor & electronics, general manufacturing, retail & warehousing/logistics, aviation, chemicals, rubber, and plastics, healthcare & pharma, food & beverage, postal & parcel, and other end users. In 2020, the automotive sector is estimated to account for the largest share of the ASRS market. The large share of the segment is mainly attributed to the rising emphasis on smart factories, growing concerns to safely handle expensive & delicate automotive products, workforce shortage in developing economies, increasing need to save process time, and growing focus to reduce reliance on third-party logistic providers. However, the healthcare & pharmaceuticals sector is expected to register the highest CAGR during the forecast period. Some of the prominent driving factors for the ASRS market in this sector include rapid digital transformation in the healthcare industry, stringent government regulations for maintaining optimum healthcare environment, and increasing investments in contactless healthcare processes. The growing need to reduce hospital operating costs and improve patient response time are the factors supporting the growth of this segment.
Check the Complete Table of Contents with the List of Tables and List of Figures: https://www.meticulousresearch.com/product/automated-storages-and-retrieval-systems-market-5159
Geographically, the ASRS market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2020, Europe is estimated to account for the largest share of the market. The large share of this region is attributed to the rapidly booming e-commerce sector, supportive digital infrastructure, and increasing acceptance of the Industry 4.0 revolution. In addition, the presence of several automotive manufacturers in this region and the high reliance of local industries on automated systems are also expected to contribute to the market growth.
The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. Factors such as the growing trend of automation coupled with aging factories, booming e-commerce sector, increasing popularity of ASRS among SMEs, and increasing investments for installing ASRS at warehouses & distribution centers are expected to drive the APAC market during the forecast period.
The key players operating in the automated storage and retrieval systems market are Daifuku Co., Ltd. (Japan), SSI SCHAEFER AG (Germany), Dematic (U.S.), Honeywell Intelligrated (U.S.), Toyota Industries Corporation (Japan), Murata Machinery, Ltd. (Japan), KNAPP AG (Austria), BEUMER Group GmbH (Germany), Swisslog Holding AG (Switzerland), Material Handling Systems (U.S.), TGW Logistics Group (Austria), WITRON Logistik+Infomatik GmbH (Germany), Kardex Group (Switzerland), System Logistics S.p.A. (Italy), viastore SYSTEMS GmbH (Germany), Jungheinrich AG (Germany), MATTER Srl (Italy), Mecalux, S.A. (Spain), and Craftsman Storage Systems (India), among others.
Key Questions Answered in the Report-
- Which are the high-growth market segments in terms of load, type, application, end user, and geography?
- What was the historical market size of the automated storage and retrieval systems market?
- What are the market forecasts and estimates for the period 2020–2027?
- What are the major drivers, restraints, opportunities, and trends in the automated storage and retrieval systems market?
- Who are the major players, and what are their shares in the automated storage and retrieval systems market?
- How is the competitive landscape in the automated storage and retrieval systems market?
- What are the recent developments in the automated storage and retrieval systems market?
- What are the various strategies adopted by the major players in the automated storage and retrieval systems market?
- What are the key geographic trends and which are the high-growth countries?
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