Global Automated Storage and Retrieval System (ASRS) Market: Overview
Thanks to the emergence of the global automated storage and retrieval system (ASRS) market, the materials flow and control are improved by technologically evolving. ASRS is controllable system that uses load recovery to automatic positioning of goods from predetermined storage locations. Automated storage and retrieval systems (ASRS) is used by a wide range of industries, including chemicals, automotive, food and beverages, e-commerce, and others. Automated storage and retrieval systems minimize labor costs while enhancing the efficiency and productivity.
Global Automated Storage and Retrieval System (ASRS) Market: Notable Developments
The global ASRS market is growing at a rapid rate, and is boosted by the swift advances in technology. Here are some notable developments that could impact the global automated storage and retrieval system market in the coming years:
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- Smart Material Handling System
The launch of a AS-30 Sliding Shoe Sorter was announced in November 2015 by Wynrights, a subsidiary of the Daifuku North America Holding Company and a leading U.S. provider of smart material handling systems. The introduction of such innovative products is expected to boost the automated storage and retrieval system (ASRS) market.
- Knapp AG Expansion Plans
Knapp AG has been expanding its North American headquarters in Georgia in June 2017. In June 2017 the Knapp AG has been announced. This growth is reported to increase to 150 US staff and hosts technology shows, showrooms and training facilities in the company. Expansions of such prominent players are expected to benefit the global ASRS market extensively.
- Daifuku Partnership with Fast Retailing
Daifuku and Fast Retailing signed a Strategic Partnership Agreement in October 2018. These two companies will contribute to a long-term business development for both companies, as well as a stable logistical function. This partnership will involve them. Fast Retailing and Daifuku will make use of their knowledge and experience for logistics reform and enhancement. Daifuku is a prominent vendors operating in the global automated storage and retrieval system (ASRS) market, and is likely to remain a dominant name in the coming years.
Key players in the global automated storage and retrieval systems market include Dematic, Murata Machinery, Daifuku, Beumer Group, System Logistics Corporation, and KNAPP AG.
Global Automated Storage and Retrieval System (ASRS) Market Dynamics
In terms of volume and variety, demand for consumer products has grown. This rise in demand increases the pressure on warehouses, without wastage and loss arising from handling and storage, to store and retrieve products. The ASRS device and the software allow the material flow control in every facility in real time so that it is the perfect solution for all warehouses and distribution centers.
Given the trend in global e-commerce, demand for ASRS in the retail industry is expected to increase over the forecast period. Increased real estate costs around existing facilities inspire sectors to choose such systems, because ASRS offers additional benefits, such as optimum space usage and greater inventory control. This is one of the prominent drivers of the global automated storage and retrieval systems market across the globe.
The worldwide demand for consumer electronics is further driving the growth of the global automated storage and retrieval system (ASRS) market. Continuous innovation and advances in technology in consumer electronic products have boosted demand for this industry like artificial intelligence, IoT and virtual reality. This demand fuels the automated storage and retrieval systems market to a large extent.
Asia Pacific to Register High Potential in Global ASRS Market
It is estimated that the Asia Pacific ASRS market will have the highest growth in CAGR over the forecast period. The growth of the electronics trade industry is projected to trigger the growth of automated storage and retrieval systems in the region. Furthermore, Asian-Pacifist countries like China, Japan, Malaysia, South Korea, Indonesia, and Taiwan have seen increasing automation demand. Stronger regulation of employee safety and a need for greater accuracy and control of processes are the reason for this unprecedented demand in the regional ASRS market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?