The Asia Pacific Automated Storage and Retrieval System (ASRS) Market would witness market growth of 9.9% CAGR during the forecast period (2020-2026). Automated storage and retrieval systems are PC controlled frameworks that help with delivering materials securely to the desired location at the correct time and at the least cost. These frameworks improve the proficiency of transportation, storage, and retrieval of materials. The market is mostly driven by innovative advancements in sectors, for example, robotics, wireless technologies, and driverless vehicles; an increase in requirement for automation in industries; and expanded industrial production in developing countries, for example, China, and India. However, high initial capital investment restricts the development of the automated storage and retrieval systems market to some degree.
As the e-commerce division is going through rapid advancements, a wide range of industries are embracing warehouse automation advances to additionally improve the proficiency of logistics and supply chain management. Automated storage and retrieval system sellers are shifting their attention to growing new industry-specific answers to leverage extra benefit opportunities by integrating cutting edge automation technologies. Particularly in developed nations, organizations with manufacturing or distribution activities are investing vigorously in warehouse automation. Along these lines, to use the rise in adoption of the automation solution, major players in the automated storage and retrieval systems market are accepting strategies to enter unexplored industrial areas instead of intending to build up a solid position in the existing business sectors.
Based on Type, the market is segmented into Unit Load, Mid & Mini Load, Vertical Lift Module (VLM) and Carousel. Based on Function, the market is segmented into Storage, Order Picking, Assembly, Distribution and Kitting & Others. Based on End User, the market is segmented into Automotive, Metals & Heavy Machinery, Food & Beverages, Retail & Ecommerce, Healthcare, Semiconductor & Electronics and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: Automated Storage & Retrieval System (ASRS) Market in Asia Pacific is expected to register a CAGR of 9.9% during the forecast period (2020-2026)
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include Daifuku Co., Limited, Honeywell International, Inc., Kuka AG, Kion Group, Toyota Industries Corporation, BEUMER Group GmbH & Co. KG, Knapp AG, Murata Manufacturing Co., Ltd., Kardex AG, and TGW Logistics Group GmbH.
Market Segmentation:
By Type
By Function
By End-User
By Country
Companies Profiled
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