In its report, titled “Automated Storage and Retrieval System (AS/RS) Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” Transparency Market Research studies in detail the global market for automated storage and retrieval systems. The report provides insights into the growth drivers and restraints impacting the market’s growth trajectory between 2015 and 2023.
Automated storage and retrieval systems (AS/RS) are new inventory management systems that find use in manufacturing centers, warehouses, and in distribution facilities around the world. AS/RS systems include machines that can move one or several parallel storage aisles in downward and upward directions. AS/RS systems also help in storing and retrieving materials for distribution to external and internal destinations.
The system offers several advantages. For instance, it provides users with increased inventory control and better flexibility to adjust according to dynamic business conditions. Automated storage and retrieval systems include modular subsystems that are easily replaceable to enhance the service life of the overall system. Installing automated storage and retrieval systems also helps in reducing workforce requirements, labor costs, removing personnel from environments with extreme working conditions, and increasing the overall safety of the manufacturing units. Most importantly, AS/RS systems help manufacturing facilities substantially save on the cost incurred in inventory storage by providing improved utilization of horizontal and vertical warehouse space, thereby generating large storage density.
The global market for AS/RS systems is segmented into assembly, order picking, kitting, storage, and distribution on the basis of functions performed. Based on type, the market is segmented into mini load, unit load, shuttle, and carousel. As the mass consumption of goods continues to grow around the world, companies have started realizing the importance of deploying advanced technologies to meet the changing consumer preferences. Hence, organizations are looking to partner with providers who can help them transition from traditionally run units to automated facilities, which could enable them yield increased revenues.
With manufacturing facilities globally seeking optimum utilization of space and labor, the demand for deploying the latest technologies will rise, subsequently boosting the global AS/RS systems market. These systems offer improved productivity and efficiency in the supply chain process. Furthermore, the widespread deployment of automation solutions in material handling across industries is also giving impetus to the global market for automated storage and retrieval systems.
Despite witnessing lucrative prospects across several industries, the market for AS/RS systems is inhibited by frequent technical faults and the requirement of huge investments. Nevertheless, the market is poised to capitalize on the launch of the latest technologies such as shuttle and mid load in the near future. In addition, the rising awareness regarding the benefits of automating storage systems and importance of inventory control will boost the global AS/RS systems market in the near future.
Regionally, the report segments the global AS/RS systems market into Asia Pacific, Europe, Latin America, Middle East and Africa, and North America. It also studies the market’s competitive landscape in detail