In
its report, titled “Automated Storage and Retrieval System (AS/RS)
Market - Global Industry Analysis, Size, Share, Growth, Trends and
Forecast 2015 – 2023,” Transparency Market Research studies in
detail the global market for automated storage and retrieval systems.
The report provides insights into the growth drivers and restraints
impacting the market’s growth trajectory between 2015 and 2023.
Automated
storage and retrieval systems (AS/RS) are new inventory management
systems that find use in manufacturing centers, warehouses, and in
distribution facilities around the world. AS/RS systems include
machines that can move one or several parallel storage aisles in
downward and upward directions. AS/RS systems also help in storing
and retrieving materials for distribution to external and internal
destinations.
The
system offers several advantages. For instance, it provides users
with increased inventory control and better flexibility to adjust
according to dynamic business conditions. Automated storage and
retrieval systems include modular subsystems that are easily
replaceable to enhance the service life of the overall system.
Installing automated storage and retrieval systems also helps in
reducing workforce requirements, labor costs, removing personnel from
environments with extreme working conditions, and increasing the
overall safety of the manufacturing units. Most importantly, AS/RS
systems help manufacturing facilities substantially save on the cost
incurred in inventory storage by providing improved utilization of
horizontal and vertical warehouse space, thereby generating large
storage density.
The
global market for AS/RS systems is segmented into assembly, order
picking, kitting, storage, and distribution on the basis of functions
performed. Based on type, the market is segmented into mini load,
unit load, shuttle, and carousel. As the mass consumption of goods
continues to grow around the world, companies have started realizing
the importance of deploying advanced technologies to meet the
changing consumer preferences. Hence, organizations are looking to
partner with providers who can help them transition from
traditionally run units to automated facilities, which could enable
them yield increased revenues.
With
manufacturing facilities globally seeking optimum utilization of
space and labor, the demand for deploying the latest technologies
will rise, subsequently boosting the global AS/RS systems market.
These systems offer improved productivity and efficiency in the
supply chain process. Furthermore, the widespread deployment of
automation solutions in material handling across industries is also
giving impetus to the global market for automated storage and
retrieval systems.
Despite
witnessing lucrative prospects across several industries, the market
for AS/RS systems is inhibited by frequent technical faults and the
requirement of huge investments. Nevertheless, the market is poised
to capitalize on the launch of the latest technologies such as
shuttle and mid load in the near future. In addition, the rising
awareness regarding the benefits of automating storage systems and
importance of inventory control will boost the global AS/RS systems
market in the near future.
Regionally,
the report segments the global AS/RS systems market into Asia
Pacific, Europe, Latin America, Middle East and Africa, and North
America. It also studies the market’s competitive landscape in
detail.
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