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Automated Storage & Retrieval System (ASRS) Market Report Up to 2031
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ASRS is controllable system which provides a wide variety of size, cost, flexibility, and speed which uses load recovery to automatic positioning of goods from predetermined storage locations. Moreover, ASRS is largely used in food & beverages, e-commerce, chemicals, and automotive industry. Furthermore, it has a wide range of applications in warehouses & distribution canters such as finished goods storage, order fulfilment, and others.
Factors such as increased development & advancements in warehousing business and surge in demand for ASRS among e-commerce sector are some of the major factors propelling the market growth. On the contrary, technological advancement and growing demand for optimizing & enhancing space-efficient storage systems are becoming major factors expected to create lucrative opportunities to the market in the upcoming years.
COVID-19 Impact on Automated Storage & Retrieval System (ASRS) Market
The COVID-19 pandemic as crippled several industries such as manufacturing, automotive, and others. The Automated Storage & Retrieval System (ASRS) market has experienced significant growth due to increased demand for ASRSs in e-commerce sector. Moreover, optimum utilization of space & rise in labor costs, efficiency in supply chain & inventory control are the major factors propelling the demand for ASRS in the market.
Market Drivers
Increased development & advancements in warehousing business
With an increased online demand for several products, the development & advancements has tremendously increased in warehousing business operation. Moreover, several multinational companies are establishing new plants & warehouses. Therefore, the demand for ASRS is continuing to set up new warehouses, which is therefore propelling the market growth.
Surge in demand for ASRS among e-commerce sector
E-commerce giants, such as Amazon, Alibaba, and eBay, are expanding their businesses, in order to meet local consumer demand globally. Moreover, online purchases & digitalized retailing are becoming major factors boosting the requirements for ASRS across e-commerce sector. Therefore, surge in demand for ASRS among e-commerce sector is becoming major factor propelling the market growth.
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Market Opportunities
Technological advancement
Automated Storage & Retrieval System (ASRS) market and is growing tremendously with several innovations in the market. Moreover, advancement in technologies provides several features such as storing & retrieving of volumetric products, formulating real-time count over units loaded, d other advance solutions. These major benefits in the technologies are adopted by several industry vertical, which as a result anticipated to create lucrative opportunities to the Automated Storage & Retrieval System (ASRS) market.
Growing demand for optimizing & enhancing space-efficient storage systems
This growing need of optimizing & enhancing space-efficient storage system across industry is expected to provide an immense growth opportunities to the key players in the market. Moreover, industries are experiencing huge requirements for bulk storage facilities and instant retrieving system. These factors, as a result expected to foster the growth in the Automated Storage & Retrieval System (ASRS) market growth in the upcoming years.
Competitive Landscape
Some of the companies profiled in the report include Bastian Solution, BEUMER Group, Daifuku Co., Limited, Honeywell International, Inc., Kion Group, Knapp AG, Kuka AG, Murata Manufacturing Co., Ltd., SSI Schaefer, and Toyota Industries Corporation.
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