Tier III Players Account for around 3/4th Revenue Share of the Automated Storage and Retrieval Systems Market – Fact.MR Survey
250 Pages Automated Storage and Retrieval Systems Market Survey by Fact MR, A Leading Business and Competitive Intelligence Provider
ICT companies are extensively adopting technologies such as cloud computing and artificial intelligence to ensure seamless operations as teams continue working from home. Focus on fast automation, use of real-time operation within various end-use sectors such as automotive, food & beverage and others will provide stimulus to the growth.
The report offers actionable and valuable market insights of Automated Storage and Retrieval Systems. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Automated Storage and Retrieval Systems Market across various industries and regions.
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The global Automated Storage and Retrieval Systems Market is expected to grow at a CAGR of 7.6% during the period 2018-2028. Top 10 Vendors in the automated storage and retrieval systems market account for around 25-28% of the overall market share; yet, the automated storage and retrieval systems market continues to remain fragmented.
The fragmentation in the market can be gauged from the fact that Tier III vendors account for nearly 75% market share. These tier III companies are concentrated in a specific state/province and their business model involves providing cost-effective solutions to SMEs. Though these companies do not have the deep pockets to scale up, collectively, they are a force to reckon with.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Automated Storage and Retrieval Systems market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Automated Storage and Retrieval Systems
This newly published and insightful report sheds light on Market Insights of Automated Storage and Retrieval Systems, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Automated Storage and Retrieval Systems Market.
Segmentation
The Fact.MR report divides the automated storage and retrieval systems market into several segments to provide seamless information about the growth parameters of the market.
Depending on the geographical regions, the automated storage and retrieval systems market is divided into North America, Latin America, Europe, the Commonwealth of Independent States (CIS) & Russia, Japan, Asia Pacific excluding Japan (APEJ), and Middle East & Africa (MEA).
The report further classifies the automated storage and retrieval systems market into five categories based on its types, i.e. unit-load AS/RS, mini-load AS/RS, vertical lift modules (VLMs), horizontal carousels, and vertical carousels.
Based on the categories of automated storage and retrieval systems, the report segments the market into standalone and integrated automated storage and retrieval systems.
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Furthermore, the automated storage and retrieval systems market is divided according to the end-user industries, such as automotive, food & beverage, electrical & electronics, healthcare, and retail & e-commerce.
The automated storage and retrieval systems market is expected to grow at a CAGR of 7.6% during the period 2018-2028, according to a report by Fact.MR. North America is likely to maintain its lucrativeness in the automated storage and retrieval systems market, accounting for nearly 30% revenue share of the global market in 2018. The report opines that opportunities will not be limited to developed regions alone; the automated storage and retrieval systems market in the Asia Pacific excluding Japan is likely to register the highest CAGR throughout the forecast period.
Sensing the rising awareness among industrial end-users about the extraordinary benefits of employing warehouse automation technologies, the Fact.MR report opines that the automated storage and retrieval systems market will witness excellent growth during the forecast period.
The warehousing industry has increased by leaps and bounds over the past few years, and it has introduced the trend of warehouse automation, which entails automating a variety of warehousing automation, including storage and replenishment of loads. According to the report, companies with manufacturing or distribution operations are reaping the benefits of incorporating warehouse automation solutions, such as automated storage and retrieval systems, to maximize their storage capacities and shipping efficiencies.
Stakeholders in the automated storage and retrieval systems market are also aiming to meet the end-user requirements to operate at maximum operational efficiencies by introducing leading-edge automated storage and retrieval systems. The growing need for enhancing the workflow of warehouse operations is mainly triggering the adoption of warehouse automation, which is contributing greatly to the rapid expansion of the automated storage and retrieval systems market.
“Automated storage and retrieval systems market is mainly driven by the digitization of warehousing and intralogistics operations. Leading manufacturing companies are investing in automating their storage facilities with the help of next-generation automated storage and retrieval systems,” says a lead analyst at Fact.MR.
The Fact.MR report projects that the retail & e-commerce sector will account for the largest share in the automated storage and retrieval systems market by the end of the forecast period. According to the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), e-commerce in the Asia Pacific is expected to grow 37% annually through 2020, making it the world’s largest marketplace for e-commerce companies. Increasing growth of the e-commerce sector is resulting in factories fostering supply chain digitalization by adopting new technological solutions such as automated storage and retrieval systems. An increasing number of e-commerce companies in the Asia-Pacific region is boosting logistics infrastructure development in the region, which is likely to make the Asia Pacific the most lucrative region for automated storage and retrieval system vendors.
Leading vendors in the automated storage and retrieval systems market are leveraging technological advancements to further enhance the asset management operations for the warehousing industry. The automated storage and retrieval systems market is undergoing radical changes with market players, such as Dematic Corporation and Honeywell Intelligrated, introducing software platforms to maximize uptime and operational performance of automated storage and retrieval systems with intelligent features.
Market players are also adopting advanced technologies, such as cloud computing and augmented reality technology, to enhance the efficiency of automated storage and retrieval systems with real-time visibility to assets. The Fact.MR report forecasts technological advancements to encourage automated storage and retrieval system vendors to bring in innovation and custom-engineered solutions in the automated storage and retrieval systems market in the upcoming years.
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More Valuable Insights on Automated Storage and Retrieval Systems Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Automated Storage and Retrieval Systems, Sales and Demand of Automated Storage and Retrieval Systems, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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