10.18% CAGR growth by 2023 in Automated Storage and Retrieval System (ASRS) Market| Key Players - Daifuku Co. Ltd., Murata Machinery, Ltd., Mecalux, S.A., Intelligrated (Honeywell), Swisslog Ag, System Logistics, Dematic, Modula Inc. , Knapp AG, Daifuku C

Market Analysis:

Asia-Pacific Accounts for the Largest Demand
This unprecedented market demand can be attributed to rising labor cost, stricter regulations for employee safety, and the need to improve accuracy with better control on processes. To gain an advantage over other regions, countries in this region are adopting a strategic move to improve efficiency and cut the long-term operating cost by switching to completely automated solutions.

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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. The primary driving factor for ASRS is the increasing automation of job activities and enterprises shifting focus toward core business activities. 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.
• June 2017- Knapp AG has announced the expansion of North American headquarters in Georgia.

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