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Personal Finance News Releases
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(MoneyNewsWire.Net, July 26, 2018 ) Global automated storage and retrieval systems market is estimated to grow at a CAGR of 8.7% during the forecast period 2017 – 2025 and accounts for US$ 13,808.2 Mn in the year 2025
Automated storage and retrieval system is one of the most important material handling system, which is extensively used in distribution center and production environment. Automated storage and retrieval system plays an important role in modern factories and provides the advantages of improved inventory control, cost-effective utilization of space, time and equipment. It plays a major role in meeting the demand for logistic operations. Automated storage and retrieval system are used for placing products from storage to achieve the orders. It is a storage system that are being used on operator’s command either for storage or retrieval of product inside a warehouse for space efficiency needs.
These automated storage eliminates human involvement in performing basic sets of operation such as removal of an item from a storage place automatically, transferring item to specific processing point and after receiving it can automatically be stored at predetermined place. Automated storage and retrieval system include some of the benefits such as safer operation, high-density storage, and modular design, improved handling ability and improved picking accuracy.
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One of the major driving factors surging the growth of automated storage and retrieval system is rising demand for well managed SCM by various industries such as retail, e-commerce and logistics and emergence of flexible manufacturing system. In addition to this the another factor which drives the market is space and cost efficiencies which is been realized after implementation of automated storage and retrieval system and boosting investments from various corners for further up gradations in the technology. However, the factors hindering the growth of automated storage and retrieval system are need for skilled workforce, high initial cost. Increased Research and development spending .minimization of AMHE and growing need for automation system to handle SKU production is expected to boost the market over the forecasted period.
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Sameer Joshi
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sam@theinsightpartners.com
Source: EmailWire.Com 
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