From GlobeNewswire: 2024-11-12 09:50:00

Automated Storage and Retrieval Systems (ASRS) are computer-controlled devices that efficiently manage inventory and warehouse operations. The global ASRS market is projected to reach $19.76 billion by 2033, with a CAGR of 7.41%. ASRS play a crucial role in sectors like manufacturing, distribution, and e-commerce due to their precision and speed.

The demand for ASRS in aviation is a key driver of the global market growth, expected to reach $19.76 billion by 2033. ASRS aid in quickening production within industries, leading to substantial productivity gains. The adoption of ASRS has increased in the manufacturing sector, enhancing operations such as production, distribution, and inventory management.

The rise in consumer purchasing power has resulted in increased adoption of ASRS solutions, especially in industries like packaging and delivery. The e-commerce sector benefits significantly from ASRS systems, mitigating the effects of e-commerce and omnichannel delivery. ASRS systems optimize floor space and accelerate deliveries, offering benefits like heavy load shuttles and improved efficiency.

Automation in e-commerce is creating opportunities for the global ASRS market. The industry’s adoption of advanced technologies is driven by the need for expedient order fulfillment and adapting to consumer demand fluctuations. ASRS systems are predicted to expand in e-commerce warehouses, optimizing stock-keeping units (SKUs) and improving the fulfillment process to meet changing demands.

The Asia Pacific region is expected to dominate the ASRS market, growing at a CAGR of 10.13% due to increased industrial and infrastructure activities. Europe is forecasted to have a share of USD 4,812 million, with a CAGR of 5.15%, driven by the rise of the European vehicle industry and government regulations promoting hygiene in the food and beverage sector. The market for ASRS systems in Europe is expected to grow due to increased e-commerce demand and infrastructure modernization.

The global ASRS market is segmented by type, function, industry vertical, and region. Key players in the market include Bastian Solutions Inc., Beumer Group, Daifuku Co., Ltd., Dematic, Honeywell Intelligrated, Kardex Group, KNAPP AG, Murata Machinery, Ltd., SSI Schaefer Group, and TGW Logistics Group. Recent developments include the unveiling of the Bastian Solutions SmartPickTM robotic piece-picking solution at PACK EXPO International in 2022.

Straits Research is a market intelligence company providing global business information reports and services. Their market research data is designed to provide actionable insights for decision-makers across various industries. The ASRS market is expected to witness steady growth driven by advancements in automation technology and the increasing demand for efficient warehouse management solutions.



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