Automated storage and retrieval system (ASRS) market was valued at USD 12410.2 million in 2017 and is expected to reach a value of USD 22613.84 million by 2023 at a CAGR of 10.18%, over the forecast period (2018 - 2023|Key Players - Dematic, Modula Inc. ,

Asia-Pacific Accounts for the Largest Demand

Asia-Pacific is witnessing an increased demand for automation, originating from countries like China, South Korea, Japan, Indonesia, Malaysia, Taiwan, etc. The manufacturing industry in this region is trying to compete with the advanced and automated industries in North America and Europe. The retail industry is experiencing a humongous growth due to the increasing number of online shoppers in the region. The Asia-Pacific market is expected to overcome the combined revenues of Europe and North America by 2022.

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With the evolution of technology, the flow and control of materials have become better due to the adoption of ASRS. The equipment offers better visualization, optimum space utilization and increased control over inventory, and the ability to handle variability, variety, and volume at higher speeds, thus generating increased value. Given the trend in e-commerce globally, the demand for ASRS is expected to increase in the retail industry during the forecast period. Increased real estate cost around the existing facilities is acting as an inspiration for the sectors to opt for ASRS systems.

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Market Segments:
Automated storage and retrieval system (ASRS) market is segmented by:
1. Product Type: Fixed Aisle Systems (Stacker Cranes, Shuttle Systems), Vertical Lift Modules, Carousels (Horizontal Carousels, Vertical Carousels)
2. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa.

Key Developments in the Market
• September 2017- Dematic has signed a global agreement with AutoStore, a prominent ASRS solutions provider. This deal is expected to enable Dematic to expand it's Omni-channel integrated solution offering with ultra-high density storage and goods to person piece picking system to optimize order fulfilment activities.
• June 2017- Knapp AG has announced the expansion of North American headquarters in Georgia. This development is said to raise the number of American workforce in the company to 150 and houses company’s technology demonstrations, showroom and training facilities.

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