The "Automated Storage and Retrieval System (ASRS) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Automated Storage and Retrieval System (ASRS) Market was valued at USD 16576.2 million in 2020 and is expected to reach USD 29,244.73 million by 2026, at a CAGR of 9.95 % over the forecast period 2021 - 2026.
ASRS are most beneficial in warehouse applications. These systems save a large floor space, which is a crucial factor in warehouse operations. With the evolution of technology, the flow and control of materials have become better. The equipment offers better visualization, and the ability to handle variability, variety, and volume at higher speeds, thus, generating increased value.
Daifuku Co. Ltd
Schaefer Holding International Gmbh
Dematic (Kion Group AG)
Murata Machinery Ltd
Honeywell Intelligrated, Inc.
Swisslog Holding AG
Kardex Remstar, Inc.
Bastian Solutions, Inc.
Viastore Systems Inc.
Key Market Trends
Retail Segment to Grow Significantly
The retail industry has undergone drastic changes, with a significant number of countries witnessing a considerable growth rate. The competition faced by companies has made the industries improve their processes and become more efficient to cater to the customers' needs.
The purchasing pattern is shifting toward online shopping. Faster delivery channels and the strategic locations of distribution centers and warehouses are now necessities rather than an option. Given the trend of e-commerce, globally, the demand for ASRS is expected to increase in the retail industry during the forecast period.
The growing retail industry across the globe is giving rise to the installation of warehouses and its management in the multiple regions. For instance, Costco Wholesale Corporation has been installing its warehouses every year with consistent growth of 3-5%.
Increased real estate cost around the existing facilities acts as a stimulus for the sectors to opt for these systems, as ASRS offers additional benefits, like optimum space utilization and increased control over inventory.
Asia-Pacific to Witness the Fastest Growth
Depending upon the wage rate, productivity, and economy status, the demand for automated storage systems in different countries in Asia-Pacific is quite diverse. The increasing technological advancements have enabled the integration of ASRS without affecting the current operation, which is stressed with the rising demand from the e-commerce industry.
Approximately 400 million people out of 632 million of the population with internet access participated in online shopping. E-commerce is expected to reach USD 1 trillion by the end of 2019. Grocery purchase is a new, emerging trend in online shopping.
Many automotive companies are expanding their production plants in the region. For instance, Hyundai has planned to open a new factory in Indonesia for electric cars. Also, Tesla has acquired land in Shanghai, China, in 2018 for developing its new electric car factory. The new automotive plants will drive the demand for ASRS solutions in the region.
In China, automation is occurring at a rapid rate, despite the wage rate being lower (as compared to the European nations and North America, since there has been an increase in wage rate for the past decade) and is expected to continue for the next decade.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increased Emphasis on Workplace Safety
4.2.2 Growth of E-commerce in Developing Countries
4.3 Market Restraints
4.3.1 Need for Skilled Workforce and Concerns Over Replacement of Manual Labor
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Fixed Aisle System
5.1.2 Vertical Lift Modules
5.2 By End-user Vertical
5.2.3 Food And Beverages
5.2.4 General Manufacturing
5.2.5 Post & Parcel
5.2.7 Other End-user Verticals
5.3.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 Rest of Asia-Pacific
5.3.4 Rest of the World
188.8.131.52 Latin America
184.108.40.206 Middle-East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/qi6ur8
View source version on businesswire.com: https://www.businesswire.com/news/home/20210506005616/en/
Laura Wood, Senior Press Manager
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