The global Automated Storage and Retrieval System Market was 5.59 billion USD in 2016 and is estimated to reach 8.43 billion USD by year 2022 at a CAGR(compounded annual growth rate ) of 7.1% for the forecasted period.
The Global AS/RS market is growing at a faster rate due to the rising space constraints, rapid industrialization across the world. As such , there is a need for efficient product handling and storage in its application areas like unit load storage and handling, order picking and work in process storage. Earlier in the conventional storage system , larger workforce are deployment for maintaining the process which resulted in clumsy material handling, more time for placing and retrieving loads and less efficiency for the rising demand.
On the basis of Industry, E-commerce Industry is likely to exhibit higher growth rates during the forecasted period due to the high demand and increased pressure in manufacturing units and distribution centers to deliver goods in shortest possible time. The demand for E-Commerce industry is growing in APAC countries alone. It is estimated that there is nearly 1 million online stores in 2016 globally.
The key players in the market are dominated by countries like U.S, Germany, Netherlands, Spain, Switzerland and Japan. The market is dominated by European Countries with a market share of 50% followed by North America and APAC.
Key Topics Covered:
1. Research Methodology
2. Executive Summary
3. Market Overview
Industry Value Chain Analysis
Porter's 5 Forces
4. Market Dynamics
5. Automated Storage and Retrieval System Market Segmentation, Forecasts and Trends - By Revenue