The automated storage and retrieval system (ASRS) market was valued at USD 12410.2 million in 2017 and is expected to reach a value of USD 22613.84 million by 2023 at a CAGR of 10.18%, over the forecast period (2018 - 2023). The scope of the study is limited to hardware systems such as carousels, vertical lift modules, and fixed aisle and does not include individual software solutions.
ASRS is most beneficial in the warehouse applications. The systems save large floor space which is a crucial factor in warehouse operations. On a small scale, the ASRS are also installed in office environments that deal with a lot of paperwork. ASRS provides the most efficient way of organizing files and other office paperwork.
Better Control of Materials & Space = Increased ASRS Requirement
With the evolution of technology, the flow and control of materials have become better due to the adoption of ASRS. The equipment offers better visualization, and the ability to handle variability, variety, and volume at higher speeds, thus generating increased value. ASRS also enables goods-to-person order fulfillment, which improves safety and security of materials and workers at the workplace. The primary driving factor for ASRS is the increasing automation of job activities and enterprises shifting focus toward core business activities.
The demand for consumer products has grown regarding volume and variety. This rise in demand is increasing the pressure on warehouses to store and retrieve products without wastage and losses that arise due to handling and storage. The ASRS equipment and the software allow real-time control of the material flow in any facility, thus making it the ideal solution for all the warehouses and distribution centers.
E-Commerce to Lead ASRS Demand in Retail Industry
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 enterprises improve their processes and become efficient to cater to the customers’ needs. The changing lifestyle has made customers busy, and the purchase pattern is shifting toward online shopping. The faster delivery channels and the strategic locations of distribution centers and warehouses are now necessities rather than an option. Given the trend in e-commerce globally, the demand for ASRS is expected to increase in the retail industry during the forecast period. Increased real estate cost around the existing facilities is acting as an inspiration for the sectors to opt for these systems, as ASRS offers additional benefits, like optimum space utilization and increased control over inventory.
Asia-Pacific Accounts for the Largest Demand
Asia-Pacific is witnessing an increased demand for automation, originating from countries like China, South Korea, Japan, Indonesia, Malaysia, Taiwan, etc. This unprecedented market demand can be attributed to rising labor cost, stricter regulations for employee safety, and the need to improve accuracy with better control on processes. The manufacturing industry in this region is trying to compete with the advanced and automated industries in North America and Europe. To gain an advantage over other regions, countries in this region are adopting a strategic move to improve efficiency and cut the long-term operating cost by switching to completely automated solutions. The retail industry is experiencing a humongous growth due to the increasing number of online shoppers in the region. The Asia-Pacific market is expected to overcome the combined revenues of Europe and North America by 2022.
Key Developments in the Market
• September 2017- Dematic has signed a global agreement with AutoStore, a prominent ASRS solutions provider. This deal is expected to enable Dematic to expand it's Omni-channel integrated solution offering with ultra-high density storage and goods to person piece picking system to optimize order fulfillment activities. With this deal, from now on Dematic will be able to design, configure, engineer, install and support AutoStore as a sub-system within Dematic solutions or as a standalone piece picking system throughout the globe.
• June 2017- Knapp AG, has announced the expansion of North American headquarters in Georgia. This development is said to raise the number of American workforce in the company to 150 and houses company’s technology demonstrations, showroom and training facilities.
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• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
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1.1 Key Study Deliverables
1.2 Key Study Assumptions
1.3 Market Definition
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Indusrty Attractiveness- Porter's Five Forces Analysis
4.4.1 Bargaining Power Of Suppliers
4.4.2 Bargaining Power Of Consumers
4.4.3 Threat Of New Entrants
4.4.4 Threat Of Substitute Products
4.4.5 Competitive Rivalry Within The Industry
4.5 Value Chain Analysis
5. Global Automated Storage And Retrieval Systems Market Segmentation
5.1 By Product Type
5.1.1 Fixed Aisle Systems
220.127.116.11 Stacker Cranes
18.104.22.168 Shuttle Systems
5.1.2 Vertical Lift Modules
22.214.171.124 Horizontal Carousels
126.96.36.199 Vertical Carousels
5.2 By Region
5.2.1 North America
188.8.131.52 United States
184.108.40.206.1 By End-User
220.127.116.11.1.3 Food And Beverages
18.104.22.168.1.4 General Manufacturing
22.214.171.124.1.5 Post & Parcel
126.96.36.199 United Kingdom
5.2.3 Asia Pacific
188.8.131.52 South Korea
5.2.4 Latin America
5.2.5 Middle East & Africa
184.108.40.206 Saudi Arabia
220.127.116.11 South Africa
6. Company Profiles
6.1 Daifuku Co., Ltd.
6.2 Schaefer Holding International Gmbh
6.3 Dematic (Kion Group)
6.4 Murata Machinery, Ltd.
6.5 Mecalux, S.A.
6.6 Intelligrated (Honeywell)
6.7 Swisslog Ag
6.8 Knapp Ag
6.9 Kardex Remster
6.10 Bastian Solutions
6.11 Viastore Systems Inc.
6.12 System Logistics
6.13 Hänel Storage Systems
6.14 Modula Inc.
7. Future Of Global Automated Storage And Retrieval Systems Market