Kenneth Research, in its repository of market research reports, have recently added a report on Automated Storage And Retrieval System (ASRS) Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Automated Storage And Retrieval System (ASRS) Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Automated Storage And Retrieval System (ASRS) Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
The report covers the forecast and analysis of the Automated Storage and Retrieval System (ASRS) market on a global and regional level. The study provides historical data from 2013 to 2018 along with a forecast from 2019 to 2027 based on revenue (USD Million). The study includes drivers and restraints of the Automated Storage and Retrieval System (ASRS) market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Automated Storage and Retrieval System (ASRS) market on a global level.
In order to give the users of this report a comprehensive view of the Automated Storage and Retrieval System (ASRS) market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are bench marked based on their market size, growth rate, and general attractiveness.
The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product & service launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.
The study provides a decisive view of the Automated Storage and Retrieval System (ASRS) market by segmenting the market based on the type, function, industry, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2027. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Enhanced supply chain efficacy and output is expected to steer the growth of the Automated Storage and Retrieval System (ASRS) Market business over the forecast timeline. Additionally, an effective automated storage and retrieval system assists firms to curb expenditure through the reduction of unnecessary parts in storage, thereby enhancing the content organization of a warehouse. All these aforementioned factors are expected to accelerate the growth of the market during the forecast time span.
Based on the type, the market for Automated Storage and Retrieval System (ASRS) is divided into Unit Load, Autostore, Vertical Lift Module, Mid Load, Mini Load, and Carousel. On the basis of function, the market is classified into Assembly, Storage, Kitting, Distribution, and Order Picking. In terms of industry, the industry is divided into Automotive, E-Commerce, Chemicals, Healthcare, Aviation, Food & Beverages, Electronics & Semiconductor, and Metal & Heavy Machinery.
Some of the key participants in the business include Mecalux S.A., Knapp AG, TGW Logistics Group GmbH, Arkrobot, Swisslog Holding AG, Green Automated Solutions, Murata Machinery, Ltd., System Logistics Corporation, Automation Logistics Corporation, Bastian Solutions, Inc., Dematic GmbH & Co. Kg, Beumer Group, Daifuku Co., Ltd., Flexe, Inc., Kardex Group, Kubo Systems, SSI Schaefer Group, and Vanderlande Industries BV.
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