According to the global automated storage and retrieval system market report by IMARC Group, the market reached a value of US$ 19.5 Billion in 2022, and it is projected to reach a value of US$ 29.4 Billion by 2028, exhibiting a CAGR of 6.9% during 2023-2028.
Automated storage and retrieval system (ASRS) represents a computer-controlled device that places and recovers loads from specified storage locations accurately in a facility. It comprises carousels, vertical lift modules (VLMs), shuttles, cranes, micro-loads, mini-loads, unit-loads, warehouse execution software (WES), warehouse management software (WMS), etc. In line with this, automated storage and retrieval system offers various benefits, such as reclaiming unused vertical space, increasing inventory storage density, improving ergonomics and safety, enhancing throughput, reducing labor costs, efficient use of floor space, etc. Consequently, it finds wide-ranging applications in numerous industries, including automotive, aviation, chemical, e-commerce, food and beverage (FB), healthcare, etc.
Market Trends Drivers
The escalating demand for precise, fast, and efficient fulfillment of in-store retailing to ensure customer satisfaction is primarily driving the automated storage and retrieval system market. Additionally, the emerging trend of industrial automation for improving productivity and quality while reducing errors, increasing safety, adding flexibility to the manufacturing process, etc., is further catalyzing the market growth. Besides this, the widespread adoption of automated storage and retrieval system in the e-commerce sector, owing to ease of selling internationally, retargeting customers, personalization of the buying experience, etc., is acting as another significant growth-inducing factor.
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Moreover, the rising utilization of automated storage and retrieval systems by small and mid-size enterprises (SMEs) to reduce human interaction is positively influencing the global market. Apart from this, continuous technological advancements in ASRS assisted by cutting-edge sensors are also stimulating the market growth. Furthermore, extensive investments by government bodies in the development of digital infrastructures are anticipated to fuel the automated storage and retrieval system market over the forecasted period.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Beumer Group GmbH Co. KG, Daifuku Co. Ltd., Dematic (Kion Group AG), Honeywell International Inc., Kardex Group, Knapp AG, Mecalux S.A., Murata Machinery Ltd., Schaefer Systems International Pvt Ltd, System Logistics S.p.A. (Krones AG), TGW Logistics Group, Toyota Industries Corporation and Viastore Systems.
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Type:
- Vertical Lift Modules
- Carousels
- Horizontal Carousels
- Vertical Carousels
- Crane-Based
- Vertical Buffer Modules
- Robotic Shuttles
- Floor Robots
Breakup by Load:
- Unit-Load ASRS
- Fixed-Aisle ASRS
- Movable-Aisle ASRS
- Mini-Load ASRS
- Micro-Load ASRS
Breakup by Application:
- Storage
- Order Picking
- Kitting
- Buffering
- Others
Breakup by End User:
- Automotive
- Semiconductor and Electronics
- General Manufacturing
- Retail and Warehousing or Logistics
- Aviation
- Chemicals, Rubber and Plastics
- Healthcare and Pharma
- Food and Beverage
- Postal and Parcel
- Others
Regional Insights:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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