“Limited space and minimal labor utilization enabled by the adoption of new automation technologies is expected to drive the growth of the automated storage and retrieval system market”
The automated storage and retrieval system market is expected to be valued at USD 9.18 billion by 2023, growing at a CAGR of 7.37% between 2017 and 2023. The major factors driving the growth of the market include limited space and minimal labor utilization enabled by the adoption of new ASRS-based technologies, improved supply chain efficiency and productivity, real time inventory control at lower costs, and multichannel supply chain strategy in retail.
“Market for order picking is expected to grow at a high rate between 2017 and 2023”
The ASRS market for order picking is expected to grow at a high rate between 2017 and 2023. The order picking process includes retrieving and presenting the required inventory to pickers. Automated storage and retrieval systems are widely used in manufacturing plants, warehouses, and distributions centers for order picking. These systems retrieve finished goods from the manufacturing plants for transportation to warehouses and distribution centers.
“Europe is expected to hold the largest share of the market during the forecast period”
Europe held the largest share of the automated storage and retrieval systems market in 2016, and the trend is expected to continue during the forecast period. The growth of the market for automated storage and retrieval systems in Europe is driven by the presence of several end-use industries such as automotive and aviation in countries such as Germany, the UK, and France. The market is also witnessing growth due to the increasing awareness about automated material handling technology and its benefits, such as reduction in labor costs, among manufacturers.
Breakdown of primary participants:
• By Company Type: Tier 1—25%, Tier 2—35%, and Tier 3—40%
• By Designation: C-Level Executives—35%, Directors—25%, and Others—40%
• By Region: Europe—43%, APAC—29%, North America—14%, and RoW—14%
Some of the major players operating in the automated storage and retrieval system market are as follows.
1. Daifuku Co. Ltd. (Japan)
2. SSI Schaefer Group (Germany)
3. Murata Machinery (Japan)
4. Knapp AG (Austria)
5. TGW Logistics Group GmbH (Austria)
6. Kardex Group (Switzerland)
7. Swisslog Holding AG (Switzerland)
8. Mecalux SA (Spain)
9. Vanderlande Industries (Netherlands)
10. System Logistics Corporation (Italy)
11. Bastian Solution (US)
12. Beumer Group (Germany)
13. Dematic GmbH & Co. KG (Germany)
In this report, various segments such as type, function, industry, and geography have been covered. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. The report gives a detailed view of the market across four main regions: North America, Europe, APAC, and RoW. The ASRS value-chain analysis has been included in the report, along with the key players and their competitive analysis.
Reasons to Buy the Report:
• This report includes statistics pertaining to the automated storage and retrieval system market by type, function, industry, and geography, along with their respective market size.
• Value-chain analysis and key industry trends have been provided for the market.
• Major drivers, restraints, opportunities, and challenges for the automated storage and retrieval system market have been provided in details in this report.
• This report would help stakeholders to understand their competitors better and gain more insights to enhance their position in the market. The competitive landscape section includes competitor ecosystem and growth strategies adopted by the key players in the market such as product launches and developments, partnerships, and mergers and acquisitions.