PUNE, India, June 27, 2016 /PRNewswire/ --
According to the new market research report "Automated Storage and Retrieval System (ASRS) Market by Type (Unit Load, Mini Load, VLM, Carousel, Autostore, & Mid Load), Function (Assembly, Storage, Order Picking, Kitting, & Distribution), Industry, and Geography- Global forecast to 2022", published by MarketsandMarkets, the ASRS market, in terms of value, is expected to grow at a CAGR of 7.1% between 2016 and 2022 to reach USD 8.43 Billion by 2022.
Browse 80 market data Tables and 81 Figures spread through 203 Pages and in-depth TOC on "Automated Storage and Retrieval System (ASRS) Market"
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The ASRS market is expected to grow rapidly owing to proper optimization of floor-space utilization, increased safety and stock rotation, improved accuracy, and reduced mishandling of goods used in manufacturing plants, warehouses, and distribution centers.
Unit load is expected to hold the largest share of the ASRS market by 2022
Players in the ASRS Market focus on manufacturing unit-load ASRS, that is, high-density storage and retrieval systems that enable highly efficient, accurate, safe, and stable handling of full pallets, roll cages, containerized loads, and large items. Unit-load ASRS is being widely used in industries such as aviation, automotive, e-commerce, distribution, food & beverage, pharmaceuticals & medical supplies, 3PL, and retail & apparel.
While unit load held the largest market share in 2015, autostore automated storage and retrieval system market is expected to grow at a high CAGR between 2016 and 2022. An autostore is an advanced enterprise warehouse management system that allows complete configurability and flexibility. The system can be easily expanded and modified because of its design. Players in the ASRS market are concentrating on manufacturing autostore ASRS designed to manage material flow strategies, raise goods throughput, reduce paperwork, and deliver real-time management information.
APAC expected to witness the highest growth during the forecast period
The market in APAC is expected to grow at the highest CAGR between 2016 and 2022 owing to the increasing investments by manufacturers and suppliers for installing automated material handling systems at warehouses and distribution centers. The market in APAC is expected to grow because of the technological advancements and increased awareness among people.
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The report also profiles the most promising players in the ASRS market, namely, Daifuku Co., Ltd. (Japan), Kardex Group (Switzerland), Murata Machinery, Ltd. (Japan), Swisslog Holding AG (Switzerland), Mecalux S.A. (Spain), SSI Schaefer Group (Germany), Vanderlande Industries B.V. (Netherlands), Dematic GmbH & Co. Kg, (Germany), and Bastian Solutions, LLC (U.S.).
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