The SNS Insider report forecasts that Automated Storage and Retrieval System (ASRS) Market Size projected to reach USD 15.9 Billion by 2031. This growth is attributed to the increasing demand for labour efficiency in warehousing and logistics. ASRS technology automates repetitive tasks such as storage, retrieval, and transportation, reducing reliance on manual labour. This translates to lower operational costs, improved productivity, and consistent performance for businesses. ASRS facilitates 24/7 operations without extensive human supervision, further Improve responsiveness to fluctuating demand patterns.
Growing Adoption Across Industries and Technological Advancements Drives Market Expansion
The ASRS market is witnessing significant growth across various sectors, including healthcare, food & beverages, and automotive. This widespread adoption is driven by the Various benefits offered by ASRS, such as high-density storage, space optimization, and labour cost reduction. Furthermore, advancements in robotics and artificial intelligence are leading to the development of more sophisticated ASRS solutions, further Driving market expansion. The challenges such as vulnerability to power outages, the need for skilled labour for operation and maintenance, and occasional item misplacement still exist.
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Top Companies Featured in ASRS Market Report:
– Kardex
– SSI Schaefer
– KION
– Daifuku
– Murata Machinery
– TGW Logistics
– KUKA
– Knapp
– Vanderlande Industries
– Dematic
– Swisslog Holding
– Mecalux
– System Logistics Corporation
– Beumer Group
Recent Developments
– In May 2023, Cognex Corporation unveiled the Advantage 182 vision system, designed to streamline tasks like location identification and inspection. This solution integrates machine vision, barcode reading, and advanced edge learning for automation across various applications.
– The In-Sight 3800 Vision System, introduced in April 2023 by Cognex, caters to high-speed production lines with its comprehensive vision tools and adaptable software.
– Teledyne DALSA’s Sapera Vision Software received feature enhancements in March 2023, bolstering its capabilities for creating and implementing machine vision applications.
Automated Storage and Retrieval System Industry Segmentation as Follows:
BY TYPE
- Unit Load
- Mid Load
- Mini Load
- Carousel
- VLM
with Unit load cranes Dominates the market, These cranes are suitable for handling bulky loads and functioning in cold storage environments, making them ideal for regular warehousing and cold storage facilities. They can manage weights ranging from 550 kg to 2,500 kg. the carousel segments are expected to exhibit the fastest growth, Carousel systems, on the other hand, employ bins that move vertically or horizontally around a track, offering high storage density and catering primarily to small items.
BY INDUSTRY
- Metals & Heavy Machinery
- Semiconductor & Electronics
- Food & Beverages
- Chemicals
- Automotive
- Healthcare
- Retail
- Aviation
- E-commerce
- Others
The E-commerce sector is Holds the highest growth rate within the ASRS market. The surge in online shopping necessitates efficient order fulfilment and rapid product delivery. ASRS plays a Important role by automating warehousing and retrieval processes, minimizing errors and enabling faster order processing. E-commerce is Increasingly mobile-driven, with a significant number of users influenced by mobile platforms. As mobile screen time dominates overall screen time, advertising through this medium proves highly beneficial for e-commerce businesses. The development of mobile payments and the ease of linking bank accounts with phone numbers have simplified the buying process for end-users.
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Impact of Global Disruption
The Russia-Ukraine war disrupts supply chains and affects the availability of raw materials crucial for ASRS manufacturing. The economic uncertainty may lead businesses to delay or reduce investments in automation solutions such as ASRS. The long-term benefits of ASRS, such as labour efficiency and operational cost reduction, are expected to outweigh these temporary hurdles. slowdown of ASRS adoption as businesses may prioritize immediate operational needs over long-term investments in automation solutions. the cost-saving benefits of ASRS could still incentivize some businesses to invest in these systems to remain competitive in a challenging economic climate.
Asia Pacific Emerges as a Leading Market
Asia Pacific region Is growing with the Significant CAGR, This dominance is driven by, The region’s growing manufacturing sector necessitates efficient warehousing and logistics solutions. ASRS technology offers high-density storage, streamlined operations, and labour cost reduction, making it an attractive proposition for industrial players in Asia Pacific. The e-commerce landscape in Asia Pacific is witnessing explosive growth. This surge necessitates faster order fulfilment and efficient inventory management, areas where ASRS excels. Governments across Asia Pacific are actively promoting automation through initiatives and programs. This fosters a conducive environment for ASRS adoption by offering financial incentives and encouraging technological advancements.
Key Takeaways for the Automated Storage and Retrieval System (ASRS) Market
- The report delves into the key factors propelling the growth of the ASRS market, including rising demand for labour efficiency, advancements in robotics and AI, and the e-commerce boom.
- The report explores the latest innovations and advancements in ASRS technology, including the launch of new vision systems and software solutions.
- The report offers a detailed analysis of the ASRS market across key regions, highlighting the dominance of Asia Pacific and the factors contributing to its growth.
- The report identifies potential challenges, such as the Russia-Ukraine war and economic slowdown, alongside significant opportunities within the ASRS market.
Table of Content – Major Key Points
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Automated Storage and Retrieval System Market Segmentation, By Type
9. Automated Storage and Retrieval System Market Segmentation, By Industry
10. Regional Analysis
11. Company Profile
12. Competitive Landscape
13. USE Cases and Best Practices
14. Conclusion
Continued….
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