USD 8573 million
Report ID: SQMIG20N2022 | Region: Global | Published Date: December, 2022 | Pages: 157 | Tables: 132 | Figures: 77
Global Automated Storage And Retrieval System Market size was valued at USD 8573 million in 2021 and is poised to grow from USD 9192.9 million in 2022 to USD 15.88 million by 2030, growing at a CAGR of 7.1% in the forecast period (2023-2030).
Automated storage and retrieval systems (ASRS) are computer- and robot-assisted systems used to retrieve goods or store them in certain places. Typically, the system consists of designated sites where machines may access goods by following predetermined paths. It includes shuttles, cranes, carousels, vertical lift modules (VLMs), micro-, mini-, and unit-loads, as well as warehouse execution and management software (WMS). It has a number of benefits, including effective use of the floor space, reclamation of underused vertical space, increased inventory storage density, enhanced throughput, improved ergonomics and safety, and lower labor expenses.
These systems aid in accelerating production and shipping processes, provided that everything is kept in its right place. Automated storage and retrieval systems are frequently employed for moving huge volume goods quickly and precisely. A number of companies utilise ASRS to simplify their product and material storage procedures and free up more space in factories and warehouses. Additionally, this is anticipated to reduce the danger of accidents while stacking materials and speed up operational procedures. To handle huge goods securely and accurately, it is widely used in semiconductors and electronics, food and beverage, automotive, healthcare, e-commerce, and chemicals businesses. The system concentrates on enhancing performance, increasing storage capacity, and lowering energy expenditures.
US Automated Storage and Retrieval System Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 8573 million
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Global Automated Storage and Retrieval System Market is segmented based on the category, type, function, industry, and region. Based on category, the market is bifurcated into integrated and standalone. According to type, the market is segmented into Unit Load, Mini Load, Vertical Lift Module, Carousel, Mid Load and Auto store. On the basis of function, the market is sub segmented into Storage, Order Picking, Distribution, Assembly, Kitting and others. According to industry, it is categorized into Automotive, Metals and Heavy Machinery, Food and Beverages, Chemicals, Healthcare, Semiconductors and Electronics, Retail, Aviation, E-Commerce, and others. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Type
The unit load segment held the dominant market share in 2021. Unit load ASRSs are more popular than other types of ASRS in many sectors since they are utilised to store large-size items and also offer real-time inventory information. Unit load ASRS is also a high-density heavy payload ASRS that makes it possible to handle whole pallets accurately, effectively, safely, and steadily. Additionally, the necessity to meet shipment deadlines during busy periods, the rise in business competency requirements, and the adoption of unit-load automated storage systems are all driving up demand for this market. This market expansion is anticipated to be aided by the integration of cutting-edge technology into process handling and shipping operations as well as the growing need for lower incineration prices. Their broad range of applications in the consumer goods, automotive, electronics, food & beverage, pharmaceuticals & medical supplies, and retail & clothing industries also contribute to the market expansion.
Analysis by Industry
The automotive industry segment dominated the global automated storage and retrieval system market share in 2021. Automakers have increased automotive manufacturing, which calls for automotive spare parts, as a result of the shift in consumer demand toward electric and autonomous vehicles. Suppliers to the automotive industry must efficiently handle vast quantities of inventory as well as variety and breadth. Additionally, these providers must increase the amount of storage space they can fit on the floor. In order to meet the demands linked to material handling capacity, these systems are being deployed more and more.
Food and beverage industry is expected to show substantial growth during the forecast period. When used in the food business, automatic storage and retrieval systems are advantageous for tracking food expiry dates, last-in-first-out (LIFO) segregation, and lot number distribution. It helps the beverage sector distinguish between volatile and non-volatile solutions, which is another advantage. The market prognosis for automated storage and retrieval systems for food and beverages would be improved by the rising trend of food e-marts and online retailers. The market’s overall income is predicted to increase after AI system implementation. In the future years, a large number of food-related industries, in particular cold storage facilities already established in North America and Europe, will see growth.
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Europe dominated the Global Automated Storage and Retrieval System Market share in 2021. One of the important aspects influencing the market in Europe is the presence of several significant companies and the sizeable client base. Due to the region's very high labour costs, firms in European nations have been implementing automated solutions to lower total operating expenses. By supporting effective administration of all warehouse activities, the implementation of these solutions aids manufacturers in maintaining a competitive advantage. Additionally, the expansion of the e-commerce sector and the presence of multinational corporations with international warehousing and distribution activities are propelling the market in Europe.
Due to the expansion of the automotive, food and beverage, and healthcare sectors in the developing nations, Asia-Pacific is predicted to have considerable growth in the automated storage and retrieval system (ASRS) market. Additionally, it is projected that the presence of a significant key player would further fuel the market expansion in the region over the ensuing years. China, the world's second largest economy, is expected to reach a high market size at the end of forecast period owing to the increasing number of Alibaba storehouses and Amazon warehouses in this region.
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Global Automated Storage and Retrieval System Market is competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. Major Players include Material Handling Systems, SSI SCHAEFER AG, Honeywell Intelligrated, Toyota Industries Corporation, MATTER Srl and Murata Machinery, Ltd. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
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According to our Global Automated Storage and Retrieval System Market analysis, to ensure consumer happiness, there is an increase in the demand for quick, accurate, and efficient fulfilment of in-store commerce. One of the main factors influencing the market is the expanding industrial automation, which aims to increase safety, reduce mistakes, and offer flexibility to the production process while also enhancing productivity and quality. The initial step of the supply chain's operating flow is supported by an automated storage and retrieval system. In order to boost efficiency, ASRS is used in applications for inventory management and slow- to medium-moving order fulfilment. Therefore, increasing need for effective supply chain implementations is motivating enterprises to use these systems.
|Market size value in 2021||USD 8573 million|
|Market size value in 2030||USD 15.88 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Automated Storage And Retrieval System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Automated Storage And Retrieval System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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