(EMAILWIRE.COM, July 21, 2017 ) The report "Automated Storage and Retrieval System (ASRS) Market by Type (Unit Load, Mini Load, Vertical Lift Module, Carousel, Mid Load, Autostore), Function (Assembly, Kitting, Order Picking, Distribution, Storage), Industry, & Geography - Global Forecast to 2023", The automated storage and retrieval system market is expected to be valued at USD 9.18 Billion by 2023, growing at a CAGR of 7.37% between 2017 and 2023. The growth of this market is driven by the development in the automated material handling market, limited space and minimal labor utilization enabled by the adoption of new ASRS-based technologies, and ASRS’ ability to control inventory in real time at lower costs.

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ASRS market for order picking to grow at the highest rate between 2017 and 2023

The order picking process includes retrieving and presenting the required inventory to pickers. Automated storage and retrieval systems are widely used in manufacturing plants, warehouses, and distributions centers for order picking. These systems retrieve finished goods from the manufacturing plants for transportation to warehouses and distribution centers. An ASRS retrieves the required goods for order fulfillment. Thus, industries are increasingly using ASRS over the manual order picking process to reduce labor costs and ensure efficient order fulfillment.

Market for autostore ASRS to grow at the highest rate between 2017 and 2023

Autostore is an innovative storage solution that allows complete configurability and flexibility. Players in the ASRS market are focusing more on manufacturing autostore because this type of ASRS can manage material flow strategies, raise goods throughput, reduce paperwork, and deliver real-time management information.

Automated storage and retrieval system market in APAC to grow at the highest rate between 2017 and 2023

The automated storage and retrieval system market in APAC is growing at a high rate. Economic growth, increasing popularity and superior results of automated systems, rising demand for storage are some of the key factors driving the growth of the automated storage and retrieval system market in APAC.

Some of the major players operating in the automated storage and retrieval system market are Daifuku Co. Ltd. (Japan), SSI Schaefer Group (Germany), Murata Machinery (Japan), Knapp AG (Austria), TGW Logistics Group GmbH (Austria), Kardex Group (Switzerland), Swisslog Holding AG (Switzerland), Mecalux SA (Spain), Vanderlande Industries (Netherlands), System Logistics Corporation (Italy), Bastian Solution (US), Beumer Group (Germany), and Dematic GmbH & Co. KG (Germany).

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