Global automated storage and retrieval system (ASRS) market expected to reach more than USD 11,900 million by 2025 and is expected to grow at a CAGR of more than 9% between 2017 and 2025. The key factors that are driving the automated storage and retrieval system (ASRS) market are the growing need for space optimization and reducing human labor.
Sarasota, FL -- (SBWIRE) -- 07/25/2018 -- The new report by Zion Market Research on the "Automated Storage and Retrieval System (ASRS) Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025" has vast information about the market and its potential. The global automated storage and retrieval system (ASRS) market was valued at around USD 5,400 million in 2016 and it is expected to reach more than USD 11,900 million by 2025. The global automated storage and retrieval system (ASRS) market is expected to grow at a CAGR of more than 9% between 2017 and 2025.
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The key factors that are driving the automated storage and retrieval system (ASRS) market are the growing need for space optimization and reducing human labor. Thus the ASRS-based technologies are being widely adopted in the manufacturing sector in order to improve the productivity, supply-chain efficiency, and minimizing the costs in the real-time inventory. The other factors that are positively affecting the growth of the automated storage and retrieval system market are the significant growth of the automotive and retail sectors and the technological developments that are made in the field of storage and retrieval.
Our research analysts observed that the increasing demand for the automobiles and consumer electronics will play a major role in the development of the automated storage and retrieval system market. Global auto sales had reached 93.5 million units in 2017. China and the United States accounted for a major share in automobile global market in terms of production and revenue. Increasing sales of the automobile industry is expected to trigger the growth of automated storage and retrieval system (ASRS) market.
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The automated storage and retrieval system market has been segmented on the basis of type, function, industry, and geographical regions.
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Global Automated Storage and Retrieval System (ASRS) Market: By Type Segment Analysis
Unit Load
Mini Load
Vertical Lift Module
Carousel
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Horizontal Carousel
Mid Load
Autostore
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Global Automated Storage and Retrieval System (ASRS) Market: By Function Segment Analysis
Assembly
Kitting
Order Picking
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Storage
Others