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Vertical Lift Module (VLM) And Carousel-Based ASRS Market is projected to reach USD 6,194.9 Million by 2032, at a CAGR of 7.3 % during the forecast period 2023-2032.

Jan 11, 2024 8:00 PM ET

Vertical Lift Module (VLM) And Carousel-Based ASRS Market is projected to reach USD 6,194.9 Million by 2032, at a CAGR of 7.3 % during the forecast period 2023-2032.

Market Analysis

The global vertical lift module and carousel based ASRS market will touch USD 6,194.9 million at 7.3% CAGR by 2032 as per the recent Market Research Future report.

Key Players

Eminent industry players profiled in the VLM and carousel based ASRS market report include

  • Bastian systems
  • Vanderlande
  • Hänel Storage Systems
  • Mecalux S.A.
  • Daifuku Co. Ltd
  • Kardex
  • Autocrib
  • Vidir Solutions, Inc.
  • Modula Inc.
  • Ferretto Group SP.A.
  • Conveyco Technologies
  • Systec Group.

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Growing Need for ASRS in Auto Industry to Boost Market Growth

The auto industry utilizes state-of-the-art technologies called Automated Storage and Retrieval Systems (ASRS) to organize warehouse operations. To successfully manage inventories and increase overall efficiency, these systems utilize robotics, conveyors, and software. Space optimization is a major benefit of ASRS in the car industry. High-rise racking solutions are used by ASRS to efficiently utilize vertical warehouse space. This enables automakers to store many parts and components in a small area. Better inventory control is another advantage. ASRS systems constantly monitor stock levels, locations, and movements of car parts using advanced tracking and inventory control methods. This reduces errors and ensures effective restocking of inventories, which increases productivity and improves customer service. Therefore, demand is expected to grow.

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Booming E-Commerce Industry to offer Robust Opportunities

Contemporary shopping includes online retail. As portable devices and internet services become more widespread, e-commerce has developed into one of the most significant platforms globally for shopping. There is growth in online sellers and a change in consumer behaviour that is propelling the e-commerce sector. As e-commerce expands, warehouses are also expanding, which adds to the expansion of VLM markets.

Restraints and Challenges

High Initial Investment to act as Market Restraint

The high initial investment, technical complexity, and limited load capacity may act as market restraints over the forecast period.

Market Segmentation

The global VLM and carousal based ASRS market is bifurcated based on type and industry vertical.

By type, carousal base will lead the market over the forecast period.

By industry vertical, automotive will domineer the market over the forecast period.

Regional Analysis

North America to Head VLM and Carousal Based ASRS Market

North America, including the United States, Canada, and Mexico, stands out as a centre for technological progress. The region’s robust manufacturing industry remains a primary generator of wealth, jobs, and innovation. The increasing use of IoT technology in the US, especially together with automated storage systems, is saving time and money. IoT-integrated automated storage solutions allow remote monitoring, real-time reporting, fast error correction, and higher productivity. The presence of many omnichannel vendors across the country makes them major customers for ASRS material handling solutions, with e-commerce businesses driving strong demand due to their high-volume fulfilment requirements. The United States, with its thriving retail market, plays a crucial role, as retail sales substantially contribute to the country’s GDP, with e-commerce sales growing faster than traditional retail. The competition between online and omnichannel retailers intensifies as automation emerges as a key differentiator. Overall, North America’s well-established and vast retail sector, predominantly led by omnichannel vendors, underscores the region’s increasing importance in using material handling solutions like ASRS.

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