The total value of the global automated storage and retrieval system market was USD 8,499 million in 2022, and it will rise at a growth rate of above 7.4% shortly, reaching USD 15,012 million by 2030, according to P&S Intelligence.
With the constant progression and acceptance of unconventional technologies, like machine learning, artificial intelligence, and the internet of Things, the warehousing sector has experienced a great revolution in the past few years.
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Warehousing mechanization improves the obtainable storage space, decreases processing time, reduces human mistakes and working expenditures, and advances employee security, therefore putting a massive positive impact, especially in the long run.
The blend of all these technologies creates the execution of mechanization easier and more valuable. The key trends that aid digital automation comprise the presence of robotics and IoT in warehousing, inventory transportation, and fleet management.
Since its advent, e-commerce has played a vital role in redefining companies' processes throughout the globe, by positively affecting sales and effectiveness. Over the years, the utilization of online sales platforms has grown extensively, and according to a research study, the e-commerce sector value was above USD 4 trillion in 2021.
China leads the e-commerce industry throughout the world, holding approximately 37% of the world’s digital buyers in 2022.
E-commerce businesses are doing hard work for gaining a greater chunk of customers, by leveraging the trending online shopping conducts. Furthermore, the increasing trade of perishables across e-commerce channels is mounting the demand for cold warehouses to provide high-quality items to clientele.
Thus, companies are stressing lessening the time taken for order fulfilment mainly for groceries. For this, chilled storage has advanced as a vital part of supply chain management, when it comes to storing temperature-sensitive items.
Credited to the movement of a huge count of products in warehouses, executives are needed in order to keep track of all the items and to dodge inventory shortages because of theft, damage, or spoilage.
Tracking solutions remove possible human blunders and also ensure transparency in the supply chain. Mechanical solutions reply to reduced inventory levels to avert stock lacks, while limiting inventory prices.
In the coming few years, the APAC automated storage and retrieval system market is estimated to experience the highest CAGR, of above 8%. This can be credited to the huge manufacturing and customer bases of ASRSs in South Korea, China, Japan, and India. The main industries in such nations include retail & e-commerce, chemicals, FMCG, food & beverage, automotive, semiconductors, metals & mining, and electrical appliances.
Hence, the industry for ASRS is rising due to the increasing utilization of robots by e-commerce organizations, the growing cold-storage network, and the growing stress on inventory management.
