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Automated Storage & Retrieval System Market is Anticipated to Hit $9.45 Billion by 2023 at a CAGR of 6.55%.

Published By : IndustryARC | Published On : 2018-05-02
According to the new market research report by IndustryARC titled “Automated Storage & Retrieval Systems Market: By Type (Unit Load, Mini Load, Micro Load, Others); By Equipment (Storage Aisles, S/R Machines); By Function (Order Picking, Storage, Others); By Application (Automotive, Chemical, F&B, Others); By Geography(2018-2023)”, the market has encountered considerable rate of growth in the past ten years, with its deployment majorly for logistics and warehouse storage solutions.

Browse 15 Market Tables, 97 Figures spread through 181 slides and an in-depth TOC on “Global Automated Storage & Retrieval Systems Market (2018 - 2023)

APAC held the largest market share in the Automated Storage & Retrieval System Market

APAC holds the largest market share and growth in the Automated Storage & Retrieval System Market and is anticipated to reach $3.36 billion by 2023 at a CAGR of 7.41%. The growing demand for industrialization in this region, combined with increasing investment in industrial automation, particularly in China, is set to spur the market. The key applications in this region include Automotive, Chemicals, Food and Beverages, General Manufacturing, Semiconductors and Electronics among others.

The AS/RS integrates various picking and routing mechanisms. Thus, it is necessary to design right systems for them. It involves an extensive research process complying with the safety standards for various industrial environments. The standard specifications for the desired system are created in this phase.

Once these specifications are laid down, the designing phase deals with the development and simulation of a viable system. The prototypes are passed through various iterations until the desired result is achieved. This phase is also responsible for listing the required processing technology, materials, equipment and components in order to manufacture the AS/RS. The successive step deals with analyzing the pre-purchase specifications of the customers, gathered through marketing operations. The analysis again involves lot of research pertaining to the supply chain and storage capacity management of the customer. The next step deals with the acquisition of required components and sub-systems for the AS/RS post, which is manufactured and distributed to the customer. The following step involving installation and training, is an exhaustive process where the AS/RS suppliers create another revenue segment. After the end- user has acquired the requisite AS/RS, the manufacturers or other third parties offer all sort of maintenance and calibration services till the end of the product life cycle.

Excerpts on Market Growth Factors
  • The advent of warehouse robotics has also developed significant opportunity for the inflow of products in the global market. Leading MNCs in automotive, manufacturing, petrochemical and other industries are vigorously investing in low risk warehouse automation, in order to convert their traditional rack and shelving facilities into automated facilities.
  • With the growing demand for supply chain efficiency, automated storage systems have been gaining adoption in recent years.
  • Automation in the aerospace industry has taken off in the recent years. This growing automation has propelled the demand for automated storage and retrieval systems across the industry.
  • The high demand of warehouse automation in the automotive segment and the growing cost of laborers are the key driving factors in all the markets.
  • The demand for better and innovative products is driving the research and development operations in this market.
  • The patent scenario for AS/RS market is changing, owing to the technological advancements and the change in market demand.
  • Growing demand for AS/RS in various end-user industries such as automotive, food and beverage, electronics and semiconductors, defense, aerospace, e-commerce, manufacturing and others, will pave the path for AS/RS market in near future.
  • The global warehouse robotics market is growing noticeably, alongside other equipment such as AS/RS, conveyor systems. 
  • The automotive industry is a growing market for automated storage and retrieval systems. These systems are utilized in automotive service stations, automotive factories and parking lots. Automated storage systems are primarily used to hold automotive parts in this industry. Three major types of storage systems are utilized in the automotive industry: Vertical lift modules, vertical carousel and horizontal carousel. 
  • The growing safety and control demand in the electronics industry in the European and North American markets will significantly propel the market for automated storage and retrieval systems.
  • The metal fabrication industry is also set to exhibit significant growth and the enhanced automation demand in this region will significantly propel the automated storage systems market in various regions.

Key players of Automated Storage and Retrieval System Market
Intelligrated Systems, Inc; is one of the major companies focusing permanently on development through product launches. In 2015, the company unveiled 2 new products with product line expansion of Alvey 890 series as well as launch of new Automated Storage and Retrieval Systems. Other Automated Storage and Retrieval System manufacturers such as Dematic Corporation as well as Beumer Group GmbH also focused on Product launches as their major growth strategy. Daifuku Co., Ltd., Dematic Corporation, Beumer Group GmbH as well as Swisslog AG are the major players actively focusing on partnership as the major growth strategy. In 2015, Dematic Corporation acquired Reddwerks Corporation as well as FSU Investments Ltd.; Swisslog AG acquired FORTE Industries as well as selected portfolio of technologies from Grenzebach Automation GmbH.

Browse Related Reports:

  • Automated Material Handling Market: By Products (Automated Guided Vehicle, Automated Retrieval System), By System Type (Unit Load, Load MHS), By Application (Chemical, Electronics, Automobile, E-Commerce); By Function (Cross Docking, Receiving, Returns, Storage); By Geography- Forecast (2018-2023) 
  • https://industryarc.com/Report/15492/automated-material-handling-market.html




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