NEW YORK, Nov. 11, 2015 /PRNewswire/ -- The Automated Storage and Retrieval System (ASRS) market is being driven by various factors such as better space and labor utilization due to the adoption of new technologies, improved supply chain efficiency & productivity, growth in automated material handling market, and real time inventory control. The ASRS market has been facing some restraints such requirement for high capital investments and technical glitches. These restraints are acting as barriers for the growth of Automated Storage and Retrieval System (ASRS) market. Major opportunities for ASRS market are demand for automation by the e-commerce industry and new technologies like mid load and shuttles. These opportunities are expected to boost the Automated Storage and Retrieval System (ASRS) market.
The European region holds the highest market share in ASRS market, due to the significant presence of key players such as SSI Schaefer Group (Germany) and Kardex Group (Switzerland). However, the APAC region is estimated to grow at the highest growth rate between 2014 and 2020. The global ASRS market is expected to reach $7.29 billion by 2020, at a CAGR of 7.1% between 2014 and 2020.
The global ASRS market has been segmented into four categories that include: function, type, industry, and geography. The function segment includes assembly, kitting, order picking, distribution, and storage among others. The type segment includes unit load, mini load, shuttle, and carousel among others. The industry segment includes automotive, food & beverages, chemical & pharmaceutical, electronic & semiconductor, metal & machinery, e-commerce, and aerospace among others. The ASRS market has also been segmented based on geography. The market by geography has been classified into various regions such as North Americas, Europe, APAC, and ROW, out of which the Europe hold the largest share.
The prominent players in the ASRS market are by Daifuku Co. Ltd. (Japan), Kardex Group (Switzerland), Vanderlande Industries B.V. (Netherlands), Swisslog Holding AG (Switzerland), Murata Machinery, Ltd. (Japan), Dematic GmbH & Co. Kg, (Germany), BEUMER Group GmbH & Co. KG (Germany), Bastian Solutions, LLC (U.S.), Mecalux S.A. (Spain), and SSI Schaefer Group (Germany).
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