With 7.4% CAGR, Automated Storage and Retrieval System (ASRS) Market Growth to Surpass USD 11.8 billion

The global ASRS market size is expected to grow from USD 8.3 billion in 2022 to USD 11.8 billion by 2027, at a CAGR of 7.4%. The rising adoption of ASRS in e-commerce, automotive, and healthcare industries indicates the growth of the ASRS market.

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The e-commerce industry is expected to grow at the highest CAGR in the ASRS market. ASRS is implemented in the e-commerce industry for inventory management. E-commerce companies such as Alibaba Group, Flipkart, and Amazon.com have warehouses to store and deliver products. These players manage their inventory effectively to meet the challenges of short-time delivery with the help of ASRS. They take orders through the internet; the order request is then sent to the warehouse, wherein the system processes the request and delivers the order. Therefore, the high pressure on distributors to ship products in the shortest possible time influences the adoption of ASRS, which helps reduce product delivery time

The mini-load segment is expected to account for a significant market share during the forecast period. A mini-load ASRS includes a lightweight design and maximum energy efficiency, providing financial and environmental benefits by consuming less energy. These systems have several other benefits, such as noise-free operation, improved throughput, regained floor space, inventory accuracy and control, reduced operator fatigue, variable acceleration rate, and high-speed storage/retrieval operation. Mini-load ASRS is widely used in apparel, automotive, publishing and distribution, electronics, food & beverage, pharmaceutical and healthcare, and retail industries.

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Europe is projected to hold the largest share of the ASRS market in 2022. The presence of many key players such as SSI Schaefer (Germany), Kardex (Switzerland), Beumer (Germany), KION (Germany), and so on in the region, along with a large customer base, is among the major factors driving the ASRS market in Europe. The region has an exceptionally high labor cost; therefore, manufacturers in European countries have been adopting automated solutions to reduce overall operational costs. Implementing these solutions helps manufacturers remain competitive by facilitating efficient management of overall warehousing operations. Also, several key automotive players such as Volkswagen, BMW, and Volvo have manufacturing facilities in European countries, and this industry is a major end-user of ASRS.

News also covered: https://www.prnewswire.com/news-releases/automated-storage-and-retrieval-system-asrs-market-worth-11-8-billion-by-2027---exclusive-report-by-marketsandmarkets-301688575.html

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This release was published on openPR.