Automated storage and retrieval systems are computer-controlled systems used in warehouses for automatically storing and retrieving goods from their definite storage locations. Automated storage and retrieval systems are a collective system of hardware integrated with software for accurate storage and replenishment of loads, which increases productivity, efficiency, and reduces labor involvement and inventory levels.
Customized Automated Storage and Retrieval Systems for Distinctive End-use Applications
A majority of industrial end-users are implementing automated storage and retrieval systems that can help them enhance order accuracy, throughput capacity, while reducing warehousing operational costs. Leading market players are putting their efforts into delivering customized solutions to suit industry-specific applications, in order to maintain a competitive edge. Established stakeholders in the automated storage and retrieval systems market are leveraging their expertise in data gathering, design, construction, and technological innovations to deliver highly-customized automated storage and retrieval systems. Furthermore, top vendors in the automated storage and retrieval systems market are adopting next-generation technologies to provide a diverse product selection range in order to meet unique needs of end-users.
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Foraying into New Industrial Segments: A Popular Trend Among Automated Storage and Retrieval System Vendors
As the e-commerce sector is undergoing rapid developments, a wide range of industries are adopting warehouse automation technologies to further enhance the efficiency of logistics & supply chain management. Automated storage and retrieval system vendors are shifting their focus on developing new industry-specific solutions to leverage additional profit opportunities by incorporating next-generation automation technologies. Especially in the developed countries, companies with manufacturing or distribution operations are investing heavily in warehouse automation. Thereby, to leverage the rise in adoption of automation solutions, players in the automated storage and retrieval systems market are adopting strategies to enter unexplored industrial sectors rather than aiming to establish a strong position in the existing markets.
High Initial Investments and Operational Costs Impede Widespread Adoption
Though implementing automated storage and retrieval systems can reduce labor costs and improve operational efficiencies, these systems are more expensive than traditional alternatives such as forklifts. High cost of initial investment can mark a huge challenge for small-scale end-users, who do not have access to huge capital, and they may prefer adopting low-cost alternatives to automated storage and retrieval systems. Furthermore, its routine maintenance and occasional repairs may lead to an operational downtime, which may add to the operational costs of automated storage and retrieval systems. Thereby, adopting automated storage and retrieval systems may prove to be an expensive affair for small-scale businesses, which is hindering the growth of the automated storage and retrieval systems market. However, to leverage the operational benefits of automated storage and retrieval systems despite its high cost, many end-users are considering the option of equipment leasing, which is helping tier-3 vendors to reduce the barriers to enter the automated storage and retrieval systems market.
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