Indian ASRS Market Trends, Size, Competitive Analysis and Forecast - 2019-2025
Posted by Avinash on March 26th, 2020
The Indian automated storage and retrieval system (ASRS) market is estimated to grow at a CAGR of 12.7% during the forecast period. India is anticipated to showcase a considerable growth opportunity in the ASRS market during the forecast period. Adoption of various government policies to drive AI innovation such as digital India, and proliferation in various sectors such as IT, healthcare, and consumer goods had offered significant opportunities for the automation of India’s industrial sector. Various campaigns such as Make in India with the intent to decrease the import and increase the export from the country have supported the growth of the manufacturing sector of India.
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Moreover, global players are bringing smart factory solutions in India to increase manufacturing. For instance, in April 2019, Panasonic announced its plan to bring its smart factory solutions in India. The company has integrated its welding business and SMT (Surface Mount Technology) equipment business for becoming an end-to-end integrated Smart Manufacturing Solutions company. The ASRS has its wide utility in the manufacturing sector ranging from the manufacturing of goods to the supply chain management of the manufactured goods. Therefore, the manufacturing industry in India is anticipated to make a major contribution to the growth of the ASRS market in the country.
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Indian ASRS market is segmented on the basis of type and industry. On the basis of type, the market is segmented into the unit load, mini load, vertical lift module (VLM), carousel, and auto store. Mini load ASRS handles totes, trays, and cartons rather than full pallets. Mini load ASRS is used considerably in retail, e-commerce and 3PL providers. Based on the industry, the market is automotive; chemical, metals & heavy machinery; food & beverages; healthcare; retail, third-party logistics (3PL), and e-commerce; and others such as aviation and manufacturing. Innovative product launches, huge investment in R&D, mergers and acquisition, and partnerships among companies are the key growth strategies that are actively adopted by the companies to remain competitive in the market.
Indian ASRS Market by Type
Indian ASRS Market Industry
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About the AuthorAvinash
Joined: January 27th, 2020
Articles Posted: 123
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