Automated Storage and Retrieval System Market Size, Share & Forecast 2019-2025
Posted by nabeel on January 18th, 2021
Automated Storage and Retrieval System Market has been positively influenced by the growing e-commerce market in emerging economies. ASRS is increasingly adopted to sort, sequence, buffer, and store a wide range of products into virtually unlimited destinations. ASRS consists of a variety of computerized technology systems for automatic placing and retrieving parts and items from storage locations. Automated storage and retrieval system market is gaining traction as it is used in manufacturing, distribution, retail, wholesale and institutions for automated storage and retrieval of parts and items.
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ASRS technology assists the companies in cutting expenses by minimizing unnecessary storage of items and parts and allows more storage due to narrow aisles and assists high-density storage. It also assists in the logical representation of products which improve the delivering process. For instance, the products that are used together are arranged side by side. Additionally, it also assists in reducing the labor costs and increase accuracy and safety to the products. ASRS has a huge influence where there is a very high volume of parts and products moved in and out of storage. It is the technology that provides information about the product; where the product comes from, how long the product is stored and where the product is available. It minimizes the time to spend on finding the products and provide complete control of inventory management.
Moreover, ASRS also enable in maintaining the methods of storage that is Last In First Out (LIFO) and First In First Out (FIFO) of the inventories, especially in food and beverages industries. The increasing e-commerce industry around the globe aids the development of warehouses and effective management in different regions. It also benefits in the optimization of logistics for frequent safe, and fast handling of packages. Automated storage and retrieval system market has a significant influence in automobile industries; it uses ASRS to revamp the scrambled sequence of the product before the final assembly that enables the growth of ASRS market, globally. The new automotive plants are driving the demand for ASRS. For instance, Hyundai is planning to open a new factory in Indonesia for electronic cars that rise the market demand of ASRS.
The major players of the market include BEUMER Group, Dearborn Mid-West Company, Green Automated Solutions, Inc., KION Group AG, Kubo Systems, Modula, Inc., Swisslog, KION Group, Murata Machinery, TGW Logistics, and Toyota Industries Corp. In April 2019, Daifuku Co., Ltd. acquired India-based Vega Conveyors and Automation Pvt Ltd. to improve its design, expand manufacturing, installation and after-sales services of conveyors and other material handling the equipment. In October 2018, Murata Machinery acquired Horibe Machinery Co., Ltd. to provide unique production systems that fulfill the customers need and enhancing productivity.
Current Market Trends Covered in the Market Report:
Global Automated Storage and Retrieval System Market – Segmentation
Global Automated Storage and Retrieval System Market - by Region
Rest of the World
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About the Authornabeel
Joined: November 26th, 2020
Articles Posted: 337
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