Automated Storage & Retrieval Systems Market - Forecast(2020 - 2025)
The global revenue generated by Automated Storage and Retrieval Systems in 2020 was $6.7billion, owing to growing need for automation in the supply chain industry, the market is estimated to grow at a CAGR of 6.1% throughout the forecast period. Unit Load and Mini Load Systems account for 54% of the market in 2020 and are projected to grow at a high rate of 7.9% through 2026. APAC is the market leader in 2020 accounting for 38% of the market. The region is expected to grow at the highest rate of 7.4% through 2026. What is Automated Storage and Retrieval Systems? Automated storage and retrieval systems, often referred as AS/RS, are a type of warehouse technology wherein goods are automatically brought and placed back into storage. This is typically achieved by pairing the technology with warehouse execution software (WES) that manages the process and guides warehouse personnel process orders. AS/RS system has numerous advantages that help in making the warehouse or order fulfillment o