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Asia-Pacific Automated Storage and Retrieval Systems Market
The Asia-Pacific Automated Storage & Retrieval Systems market registered a CAGR of 9.95% over the forecast period 2021 - 2026.
- The Asia-Pacific region is witnessing an increasing foucs towards automation by the warehousing companies which is anticipated to drive the market for Automated Storage and Retrieval Systems. According to Warehouse 2020 APAC Vision Study cinducted by Zebra, 73% of the warehousing companies in the region plan to increase the number of warehouses by 2020 and 52% of them also plan to reduce space expansion in existing warehouses in 2020.
- The study also stated that 74% of the comapnies have plans to upgrade their warehouse staff with technology, specifically to raise investment in Internet of Thing, barcode scanning technologies, tablet computers, big data/data analytics, and warehouse/truck loading automation over the forecast period.
Key Market Trends
Retail to Hold a Significant Share
- The retail sector generated the second-highest demand for ASRS in the region, after post and parcel, as compared to other industries. ASRS, when compared to other equipment types, has witnessed a higher adoption in the in the region's retail sector. China has significantly contributed to this.
- This is because the Chinese retail revenue is also on a constant increase since 2011, which is significantly driving up the automation in the retail sector of the country, as a rise in retail requires effective storage and warehouse management of products suitably requiring ASRS.
- According to Chinaâ€™s Ministry of Commerce (MOFCOM), Chinaâ€™s retail sales are expected to surpass sales in the United States, for the first time in 2018, due to innovation and transformation of Chinaâ€™s retail enterprisesChinaâ€™
The Asia-Pacific automated storage and retrieval system market is moderately fragmented and highly competitive in nature. Product launches, high expense on research and development, partnerships and acquisitions, etc. are the prime growth strategies adopted by the companies in the country to sustain the intense competition.
- September 2019 - Daifuku Co., Ltd. announced the establishment of of Vietnamese subsidiary, Daifuku Intralogistics Vietnam Co., Ltd. The newly formed subsidiary will manage local sales, installation and after-sales services of material handling systems for the manufacturing and distribution sectors.
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