The Global Automated Storage and Retrieval Systems Market is valued at USD 9.56 billion in 2016 and is expected to reach a value of USD 22.56 billion by the end of 2022, growing at a projected CAGR of 15.39 % during the forecast period of 2017 – 2022. Businesses today need to tackle fierce global competition, shorter product life and swift changes in the market landscape. This has brought automated storage and retrieval systems( AS / RS) at the center stage. Saving cost to the end-user is the major driver, making the automated storage and retrieval systems and storage systems market grow lucratively. AS / RS consists of a variety of computercontrolled systems for automatically placing and retrieving loads from storage locations. These systems are used where there is a high volume of loads being moved from one location to another. They help in providing quicker, more accurate, reliable and low-cost solutions to effectively track inventory and create that perfect order, meeting the customers ' demand. These solutions are progressively adopted by industries such as healthcare, retail, manufacturing and automotive.
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The global automated storage and retrieval systems market has been driven by many factors such as improving technology, increasing focus, growth in competition, etc. The global economic outlook is promising, with the manufacturing sector across major economies showing improvement over the last few years. Consumer spending is also on the growth trajectory. These factors are driving the automated storage and retrieval systems market, globally. Rapid growth in e-commerce and the emergence of flexible manufacturing systems are some of the major growth opportunities that could drive the future of this market. The automated storage and retrieval systems market is being hindered by certain factors such as high initial costs, need for skilled workforce and concerns over replacement of manual labor, etc. However, the investment for automation is often considered as a technology upgrade rather than as a standalone application.
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The global automated storage and retrieval systems market has been segmented by products: unit load AS / RS, mini-load AS / RS, carousel-type storage & retrieval systems, robotic AS / RS, and others; by their applications: energy, transport / logistics, healthcare, retail, manufacturing, and others.
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