The Latin America, Middle East and Africa Automated Storage and Retrieval System (ASRS) Market would witness market growth of 10.7% CAGR during the forecast period (2020-2026). An Automated Storage and Retrieval System (ASRS) comprise of a variety of PC controlled frameworks for automatically placing and retrieval loads from defined storage areas. This framework can sort, sequence, buffer, and store a wide range of products into virtually infinite locations. Advantages of ASRS incorporate - improves inventory control and tracking, better adaptability, effectively replaceable, reduced downtime, lessens labour cost and builds space usage.
The manufacturing industry has seen a rise in demand for ASRS which is the key component anticipated to drive the development of the market. This is credited to ASRS advantages in manufacturing facilities, for example, profoundly dense storage that saves up to 85% of floor space. Additionally, increased need to lessen labour costs and accomplish ideal usage of space and increment in implementation of ASRS in distribution supply chain and inventory management are some of the other components anticipated to propel the automated storage and retrieval market growth in the next few years.
However, ASRS systems need big investment initially and are hard to modify once executed, which restricts their utilization in changing manufacturing industries. This restricts the market development. Moreover, increase in awareness with respect to ASRS in businesses, for example, automotive and electronics, where accuracy and precision assume a significant role, utilize automated systems to fulfil worldwide quality guidelines is additionally anticipated to make huge growth opportunities for the development of the automated storage and retrieval system market. At the time when the COVID-19 hindered the market in mid-2020 with subsequent lockdowns in various nations, there has been a stop in the general demand activity in different businesses, for example, automotive, electronics, and chemicals.
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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: Automated Storage & Retrieval System (ASRS) Market in LAMEA is expected to register a CAGR of 10.7% 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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