According to a new report Global Automated Storage & Retrieval System (ASRS) Market, published by KBV research, The Global Automated Storage and Retrieval System (ASRS) Market size is expected to reach $12.4 billion by 2026, rising at a market growth of 9.3% CAGR during the forecast period.
Vertical lift module (VLM) is anticipated to develop at the highest rate during the forecast period. The VLM is intended to deliver stored products to the administrator, in this way getting rid of walk and search time. The VLM builds efficiency by up to 67% and saves up to 85% of the floor space.
The automotive business is anticipated to hold the biggest share of the ASRS market in 2020. The move-in demand for electric vehicles and autonomous vehicles has incited automakers to increase car manufacturing, which requires car spare parts. Automotive providers have to oversee a lot of goods and variety and breadth of stock effectively. Additionally, these providers need to improve the storage capacity within the accessible floor space. Consequently, automated storage and retrieval systems are progressively being utilized to satisfy the prerequisites related to material handling capacity.
The ASRS market in APAC, dominated by China and Japan, is anticipated to develop at the highest rate during the forecast period. The fast development of automotive, food and beverages, and healthcare businesses in rising economies, for example, China, Japan, Australia, and South Korea has added to the development of the ASRS market in APAC.
Structural Insights: https://www.kbvresearch.com/automated-storage-retrieval-system-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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