Global Automated Storage and Retrieval System (ASRS) Market is valued approximately USD 7.21 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 8.20 % over the forecast period 2020-2027. Automated Storage and Retrieval System (ASRS) are an integral component of an automated warehouse system who provide ability to the warehouse to sort, sequence, buffer and store a wide range of goods into virtual destinations. The components of ASRS involves, rack structure, storage and retrieval machines, conveyor interface and more. The systems have a vast range of applications in in warehouse and distribution centers for goods to person picking, finished goods storage, order fulfillment and more. the increasing demand for consumer products in terms of volume and variety increase the pressure on warehouses to operate without wastage and loss. This triggers the demand for ASRS systems. Further, the global trend of e-commerce has resulted in increased warehouses across the region further augmenting growth in the ASRS market. As per Statista, the internet users in India, increased from 437.4 million to 483 million in 2018 and further to 504 million by 2019. This rapid rise in internet users creates a concrete base from ecommerce and online shopping increasing the demand for Warehouse management. Further, the strong demand from the retail industry is also propelling installations of warehouses and its management which fosters the demand for ASRS during the forecast period. However, unavailability of technical expertise and skilled workforce impedes the growth of the market over the forecast period of 2020-2027. Although development of Smart Material Handling Systems presents a lucrative opportunity for the market.
The regional analysis of global Automated Storage and Retrieval System (ASRS) market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the well established infrastructure and high penetration of automated systems in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income, rising e-commerce and consumer demands would create lucrative growth prospects for the Automated Storage and Retrieval System (ASRS) market across Asia-Pacific region.
Major market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Vertical Lift Module (VLM)
Food & Beverages
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Automated Storage and Retrieval System (ASRS) Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers