An automated storage and retrieval system (ASRS) is an inventory management system, which automatically retrieve, places, and loads goods from a defined storage locations. These systems are widely used at production sites, distribution facilities, and warehouses, and are operated via computer controlled systems.
Major factors driving growth of the global automated storage and retrieval systems market are increasing need for automated material handling systems, real-time inventory control systems, and advanced automation systems & solutions to save time and expenses. In addition, increasing adoption of automated storage and retrieval systems from various industries such as retail, e-Commerce, food & beverages is another factor driving growth of the target market. Moreover, automated storage and retrieval systems reduce labour cost, provide improved workplace safety, stronger distribution channels, and multichannel supply chain strategies for various sectors.
High capital investment is a major factor hampering growth of the global automated storage and retrieval systems market. In addition, high installation and maintenance costs are other factors restraining growth of the global market.
The global automated storage and retrieval systems market is segmented into type, industry, and region. Among all type segment, unit load accounted for highest revenue share, and is expected to register highest CAGR over the forecast period. Whereas, e-Commerce industry segment is expected to witness significant growth in terms of revenue from 2018-2026.
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On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa. The market in Asia Pacific is expected register highest CAGR in the global market, owing to rapid industrialization, and presence of major manufacturing units in China, India, Japan, etc. in this region. The market in Europe holds highest market share in the target market, and is expected to witness significant growth over the forecast period.
Key players in the global market are Daifuku Co., Ltd., Bastian Solution Inc., S.S.I. Schaefer System International Limited, Murata Machinery Ltd., TGW Logistics Group GmbH, Swisslog Holding Ltd., Mecalux SA, Kardex Group, Vanderlande Industries BV, and System Logistics Corporation.