Global Automated Storage and Retrieval System (ASRS) Market Will Grow over CAGR 9% Between 2017 and 2025

Sarasota, FL -- (SBWire) -- 11/29/2018 --The new report by Zion Market Research on the "Automated Storage and Retrieval System (ASRS) Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025" has vast information about the market and its potential. The global automated storage and retrieval system (ASRS) market was valued at around USD 5,400 million in 2016 and it is expected to reach more than USD 11,900 million by 2025. The global automated storage and retrieval system (ASRS) market is expected to grow at a CAGR of more than 9% between 2017 and 2025.

The key factors that are driving the automated storage and retrieval system (ASRS) market are the growing need for space optimization and reducing human labor. Thus the ASRS-based technologies are being widely adopted in the manufacturing sector in order to improve the productivity, supply-chain efficiency, and minimizing the costs in the real-time inventory. The other factors that are positively affecting the growth of the automated storage and retrieval system market are the significant growth of the automotive and retail sectors and the technological developments that are made in the field of storage and retrieval.

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Our research analysts observed that the increasing demand for the automobiles and consumer electronics will play a major role in the development of the automated storage and retrieval system market. Global auto sales had reached 93.5 million units in 2017. China and the United States accounted for a major share in automobile global market in terms of production and revenue. Increasing sales of the automobile industry is expected to trigger the growth of automated storage and retrieval system (ASRS) market.

The automated storage and retrieval system market has been segmented on the basis of type, function, industry, and geographical regions.

Global Automated Storage and Retrieval System (ASRS) Market: By Regional Segment Analysis

North America
U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
Middle East and Africa

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The market has been segmented on the basis of type, function, industry, and regional.

Based on the type, unit load segment held the largest market share of 31% in 2016. It is anticipated that in the forecast period this segment will retain its dominance. The unit load is a high-density and heavy payload ASRS which is highly efficient, capable, accurate, and safe. The unit load can handle large items, pallets, roll cages, and containerized loads. The unit load ASRS can be controlled by computer and has the capacity of loading up to 2500 kg. This system is mainly designed to carry heavy loads. Owing to these benefits the unit load ASRS is widely being used in several end-user industries thus increasing its demand in the automated storage and retrieval system market.

By function, the storage segment dominated the automated storage and retrieval system market. Storage is the main function in ASRS; by making use of ASRS the storage capacity and density can be increased. This function improves the control over the inventory, eases stock rotation, and also ensures maximum safety. With the help of the storage functionality, the utilization of the space is optimum thus helping in the maximum storage of the products and that too with minimum labor cost. Owing to these benefits this segment is expected to be valued at USD 3400 million by 2025.

E-commerce industry is expected to register the highest CAGR of 12% between 2017 and 2025. The overall e-commerce industry sales are expected to reach around USD 4.5 trillion by 2021 which is a rapid growth from the sales of 2016 which was USD 1.84 trillion. Rising trend for online shopping is expected to fuel the growth of e-commerce segment in automated storage and retrieval system market. Electronics and semiconductor segment is anticipated to witness significant growth in near future owing to the growing demand for consumer electronic product.

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Europe held the largest share of around 38% in 2016 in the automated storage and retrieval system market. Germany acquired a major share in the automated storage and retrieval system market in Europe due to the growing automotive industry. APAC is expected to grow with highest CAGR over the forecast period due to increasing per capita income and rising living standard of the people in the emerging economies. In 2016, China held the largest share of 36% in automated storage and retrieval system market. It is anticipated that China will dominate the automated storage and retrieval system market throughout forecast period in the Asia Pacific. Other factors that contribute to the market growth in the Asia Pacific are increasing investments in electrical and electronics industry and technology.

The major market players in the automated storage and retrieval system market are Kardex Group, Daifuku Co., Ltd., Beumer Group, Vanderlande Industries B.V., and others.

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