“Global ASRS market expected to grow at a CAGR of 7.1%”
The global automated storage and retrieval systems (ASRS) market is expected to reach USD 8.43 billion by 2022, at a CAGR of 7.1% between 2016 and 2022. Manufacturers are increasingly adopting ASRS because of the rising costs of labor in warehouses and distribution centers. ASRS provides users with increased inventory control and tracking, reduces labor costs, lowers workforce requirements, increases workplace safety, minimizes the risk of accident during product handling, increases the efficiency of plant & distribution centers, reduces damage to products, and decreases the overall cost.
‘E-commerce industry to exhibit highest growth during the forecast period’
The ASRS market is segmented on the basis of industry into automotive, food & beverages, chemical, electronic & semiconductor, metal & machinery, e-commerce, aerospace, healthcare, 3PL, and textile. Of these industries, the market for the e-commerce industry is expected to grow at the highest rate because of the increasing pressure on manufacturers and distributors to ship the products in the shortest possible time to ensure faster delivery to consumers.
“Europe held the largest share of the ASRS market in2015”
Europe held the largest share of the global ASRS market. This market is driven by various factors such as high degree of accuracy, improved efficiency, high-throughput inventory management capabilities, and increasing demand for technologically advanced ASRS in the region.
The ASRS market in APAC is expected to grow at the highest rate. The increasing popularity and superior results of automated systems encourage more companies in APAC to increase the deployment of ASRS.
The breakup of primaries conducted during the study is depicted below:
- By Company Type: Tier1 Companies –50%, Tier 2 Companies – 33%, and Tier 3 Companies – 17%
- By Designation: C-level Executives –34%, Directors–33%, and others- 33%
- By Region: Europe - 50%, North America - 33%, and Asia-Pacific- 17%
The key players in the ASRS market are Daifuku Co., Ltd. (Japan), Kardex Group (Switzerland), Murata Machinery, Ltd. (Japan),Swisslog Holding AG (Switzerland),Mecalux S.A. (Spain), SSI Schaefer Group (Germany), Vanderlande Industries B.V. (Netherlands), Dematic GmbH & Co. Kg, (Germany), and Bastian Solutions, LLC (U.S.).
Reasons to buy the report:
- This report includes the market statistics pertaining to type, function, industry, and geography along with their respective market size.
- The Porter’s Five Forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the ASRS market.
- Major drivers, restraints, and opportunities for the ASRS market have been detailed in this report.
- Illustrative segmentation, analysis, and forecast for the markets on the basis of type, function, industry, and geography have been conducted to give an overall view of the ASRS market.
- A detailed competitive landscape includes key players, in-depth analysis, and ranking of key players.
The available customizations for the report offer further country-wise segmentation of the ASRS market in terms of value; further breakdown of the industry can be provided along with profiling of additional companies in the report.