Automated Storage and Retrieval System (ASRS) market comprises of the storage systems that on operator's commands are used for either storage or retrieval of products inside a warehouse for optimization and space efficiency needs. The space efficiencies achieved coupled with the rising demands for strategically managed SCM by various end-user industries especially retail, e-commerce, and logistics are drastically creating opportunities for implementations of such storage systems in recent times. Space and cost savings realized after implementations of automated storage and retrieval systems is reaping rich dividends for the users of it and thus, encouraging investments from various corners for further upgradations in the technology.
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Established players in the storage system arena are looking for integration of IoT and robotics to further grab better opportunities. Daifuku Co.Ltd., Kardex Group, Intelligrated, and Interlake Mecalux are few of the major players in this market that provide solutions pertaining to automated storage and retrieval systems. These players have major deployments in Europe and North American regions, as both the geographies are technologically advanced and experience integrated automation benefiting the ongoing business processes
The global ASRS market is segmented based on types as Unit Load ASRS, Mini Load ASRS, Carousals, VLM, and others. On the basis of end-user ASRS market can be further divided into Automotive, Electronics, Food & Beverage, E-commerce, Logistics, Pharmaceuticals, Retail, and other end users.
The global automated storage and retrieval systems market is estimated to grow at a CAGR of 8.7% during the forecast period 2017 - 2025 and accounts for US$ 13,808.2 Bn in the year 2025. One of the prime factors that are driving the demands for automated storage and retrieval systems is the need for optimized and space efficient storage systems. Growing population across the globe, is tremendously impacting the demand for multiple product categories in automotive, pharmaceutical, retail, electronics, food & beverage, and many other industries. In order to cater to this enormously increasing demand, manufacturers have increased their productions significantly.