Global Automated Storage and Retrieval System Market Insights Forecasts to 2032

• The Global Automated Storage and Retrieval System Market Size was valued at USD 8.19 Billion in 2022.
• The Market is growing at a CAGR of 7.2% from 2022 to 2032.
• The Worldwide Automated Storage and Retrieval System Market Size is expected to reach USD 16.4 Billion by 2032.
• Asia Pacific is expected to grow the fastest during the forecast period.

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The Global Automated Storage and Retrieval System Market is expected to reach a value of USD 16.4 Billion by 2032, expanding at a 7.2% CAGR between 2022 and 2032. The growing e-commerce industry as a result of rising digitalization, and surging demand for ASRS in the automotive, food & beverage, and healthcare industries are some of the major factors driving the ASRS industry's growth. 

 

Market Overview

Warehouses, distribution centers, and industrial facilities frequently use inventory management systems with automated storage and retrieval capabilities. They are made up of multiple computer-controlled devices that transfer cargo from one location to another autonomously. When moving large volumes of goods from one location to another, these technologies can help provide quick, dependable, precise, and cost-effective solutions. Robots and other material-handling equipment can automatically store and retrieve items from shelves using automated storage and retrieval systems. These procedures can be automated to reduce labor costs, minimize human error, and increase capacity for storage through vertical storage. The desire for increased productivity and efficiency throughout the supply chain, as well as the growing need to use people and space as efficiently as possible, are expected to drive market growth. The market benefits from a better understanding of automated storage systems and inventory control as a result of the incorporation of cutting-edge technology.

 

Report Coverage

This research report categorizes the market for the global automated storage and retrieval system market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the automated storage and retrieval system market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the automated storage and retrieval system market.

 

Driving Factors

One of the major driving factors for market growth is the increasing demand for Automated Storage and Retrieval Systems (ASRS) in the e-commerce sector, particularly during the implementation of COVID-19. E-commerce has had a significant impact on traditional business activities and has changed the way business is conducted around the world. E-commerce is a massive platform that is constantly expanding as a result of the increasing number of online activities in the e-commerce industry.

 

The use of ASRS provides an operator with greater inventory control. In the case of manually operated inventory control, an operator must periodically check the inventory to obtain relevant information. Only authorized personnel have access to the stored inventory. This enables a specific individual to track missing or misplaced goods. Inventory shrinkage is eliminated due to the increased level of accountability and security. Thus, the use of ASRS aids in the real-time tracking of available inventory, expiry dates of stored products, and the need for replacing or refilling replenished products. It lowers the labor costs associated with constant inventory checks as well as the costs associated with any errors which might appear.

 

Restraining Factors

ASRS is a massive and complex system that consists of storage racks, automated systems, and software. From the installation phase, the system must be implemented with greater precision. A minor error or inaccuracy can bring the entire manufacturing process to a halt. To maintain accuracy, an operator should have technical knowledge of the ASRS system. Apart from installation, the ASRS system necessitates the assistance of a technical expert to correct any errors. Technical expertise increases the company's costs. Furthermore, with constantly evolving technology and increased automation, the ASRS system necessitates software upgrades. This necessitates periodic workforce training in order to handle the updated system efficiently.

 

Market Segmentation

The Global Automated Storage and Retrieval System Market share is classified into function, type, and industry.

• The assembly segment is expected to hold the largest share of the global automated storage and retrieval system market during the forecast period.

The global automated storage and retrieval system market is categorized by function into storage, distribution, and assembly. Among these, the assembly segment is expected to hold the largest share of the global automated storage and retrieval system market during the forecast period. The growth can be attributed due to the increased use of assembly lines in the automotive and manufacturing industries. The demand for assembly lines in the automotive industry is increasing as automation and digitization increase.  

 

• The unit load segment is expected to hold the largest share of the global automated storage and retrieval system market during the forecast period.   

Based on the type, the global automated storage and retrieval system market is divided into unit load, mini load, vertical lift module, carousel, and mid load. Among these, the unit load segment is expected to hold the largest share of the global automated storage and retrieval system market during the forecast period. A storage-retrieval machine (SRM) or a crane designed to handle large machinery or equipment (e.g., pallets, gaylords, drums, racks, etc.) that typically weigh more than 400 lbs is referred to as a unit load ASRS. These systems are preferred in a variety of industries because they can store large items and provide real-time inventory information. This ASRS type handles full pallets in an efficient, safe, accurate, and stable manner. It is especially useful when pallet-level storage is limited and quick retrieval is required.   

 

• The automotive segment accounted for the largest share of the global automated storage and retrieval system market in 2022.  

Based on the industry, the global automated storage and retrieval system market is divided into automotive, metal & heavy machinery, food & beverage, chemical, healthcare, semiconductor & electronics, retail, aviation, E-commerce, and others. Among these, the automotive segment accounted for the largest share of the global automated storage and retrieval system market in 2022. The increased demand for electric and self-driving vehicles has prompted automakers to increase production of automobiles and spare parts. As a result, automotive suppliers must effectively handle a large number of spare parts during manufacturing. These suppliers must also increase storage capacity within the available floor space. As a result, ASRS is increasingly being used to meet material handling capacity requirements.   

 

Regional Segment Analysis of the Global Automated Storage and Retrieval System Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

Europe is anticipated to hold the largest share of the global automated storage and retrieval system market over the predicted timeframe.

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Europe is projected to hold the largest share of the global automated storage and retrieval system market over the predicted years. Market growth is attributed to the presence of a large consumer base, as well as an increasing number of leading market players. Furthermore, the growing adoption of big data technologies in organizations for improving consumer target marketing and risk management is driving up demand for Automated Storage and Retrieval Systems (ASRS). Furthermore, by facilitating efficient management of overall warehousing operations, the implementation of these solutions helps producers maintain a competitive advantage. As a result, these factors are boosting market growth throughout Europe.      

 

Asia Pacific is expected to grow at the fastest pace in the global automated storage and retrieval system market during the forecast period. The rapid growth of the automotive, food and beverage, and healthcare industries in China, Japan, Australia, and South Korea is expected to boost the region's ASRS market. In addition, governments in Asian nations are emphasizing manufacturing floor safety and security, which can be achieved by implementing ASRS. Because of increased investments by manufacturers and suppliers in installing ASRS at warehouses and distribution centers for better space utilization, greater inventory control, and safer operations, the ASRS market is rapidly spreading across nations such as China and Japan.  

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global automated storage and retrieval system market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• TGW Logistics Group GmbH 
• Swisslog Holding AG 
• Daifuku Co. Ltd. 
• SSI Schaefer Group 
• Murata Machinery 
• Knapp AG 
• Mecalux SA 
• Vanderlande Industries 
• System Logistics Corporation 
• Bastian Solution 
• Beumer Group 
• Dematic GmbH & Co. KG 
• Kardex Group  
• Others

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

• In October 2022, Cutter & Buck, an international apparel producer and distributor, chose AutoStore, an automated cube storage technology solution, for the speed and density of the solution enabled by Kardex. The Kardex Control Centre software (WCS) will direct the AutoStore goods to a personal fulfilment solution.

 

• In May 2022, Lojas Renner, a fashion omnichannel retailer, collaborated with KNAPP to automate its new distribution centre in Cabreva, So Paulo. It offers various ASRS solutions, such as the OSR Shuttle Evo and overhead conveyor system, as well as other automation solutions, to the fashion retailer in order to automate its distribution centre and improve the company's logistics efficiency, digital transformation, and multichannel integration services.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Automated Storage and Retrieval System Market based on the below-mentioned segments:

 

Global Automated Storage and Retrieval System Market, By Function

• Storage
• Distribution
• Assembly

 

Global Automated Storage and Retrieval System Market, By Type

• Unit Load
• Mini Load
• Vertical Lift Module
• Carousel
• Mid Load

 

Global Automated Storage and Retrieval System Market, By Industry

• Automotive
• Metal & heavy machinery
• Food & beverage
• Chemical
• Healthcare
• Semiconductor & electronics
• Retail
• Aviation
• E-commerce
• Others

 

Global Automated Storage and Retrieval System Market, By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa