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automated storage and retrieval system asrs market

Automated Storage and Retrieval System (ASRS) Market Share, Size, Trends, Industry Analysis Report, By Type (Unit Load, Mid Load, VLM, Carousel, Mini Load), By Industry; By Region; Segment Forecast, 2022 - 2030

  • Published Date: Apr 2022
  • Pages: 114
  • Format: PDF
  • Report ID: PM2362
  • Base Year: 2021
  • Historical Data: 2018 - 2020

Report Summary

The global Automated Storage and Retrieval System (ASRS) market was valued at USD 7.45 billion in 2021 and is expected to grow at a CAGR of 7.6% during the forecast period. The thriving growth of the automotive industry, coupled with the rising demand for the Automated Storage and Retrieval System (ASRS) in the e-commerce sector, is propelling the market demand across the globe.

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In addition, the rising investment capabilities of leading companies and the growing adoption of the automation solution in various industrial activities further act as catalytic factors for industry growth. Moreover, the SMEs' availability of favorable government policies, infrastructural development, and rising implementation of the Automated Storage and Retrieval System (ASRS) are also creating various growth prospects for the market demand over the projected period.

The outbreak of COVID-19 has shown a significant impact on nearly every sector of the economy. Accordingly, the automated storage and retrieval system (ASRS) market has exhibited a substantial impact during this pandemic. The implementation of stringent social distancing norms and lockdown policy across various regions leads to the changing shopping behavior of the consumer has substantially influenced the growth of the e-commerce industry.

The use of the Automated Storage and Retrieval System (ASRS) accelerates processes, facilitates better contact to work zones, and also assists retailers in managing their huge product volumes. The widespread coronavirus disrupted the supply chain. However, Automated Storage and Retrieval System (ASRS) acts as a catalyzing factor for the circulation of goods, in turn, also reducing the collision of disruptions and accelerating; thus, these factors may propel global growth.

Automated Storage and Retrieval System (ASRS) Market 2030

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Industry Dynamics

Growth Drivers
The increasing demand for Automated Storage and Retrieval Systems (ASRS) in the e-commerce sector primarily during the widespread of COVID-19 is one of the major driving factors for the market growth. E-commerce has shown a huge impact on conventional business activities and has transformed changed the way business is done across the globe. E-commerce is a giant platform that is continually growing owing to the increasing number of online activities in the e-commerce industry.

Moreover, in COVID-19 the e-commerce sector experienced an unprecedented rise because of lockdowns and social distancing norms by various regulatory bodies. Thereby, this has resulted in a spike in business-to-business (B2B) e-commerce and a rise in business-to-consumer (B2C) sales. The growth of B2C sales is mainly marked in online sales of household goods, food, leisure, and pharmaceuticals. 

The most suitable and competent way to process orders is to the adoption shuttles or mini loads that help in bringing a tote or case to a goods-to-operator (GTO) picking station. Numerous distribution centers work on the operator-to-goods (OTG) principle in which the operator must travel for getting the product. ASRS is generally a shuttle or mini-load system that can automatically carry products to the operators.

Automated Storage and Retrieval System (ASRS) eradicates the travel period, which boosts 25% more efficiency in extremely dense batch-pick surroundings and nearly 75% or above in a large distribution center (DC) while picking single-order in long distances. Thus, it facilitates e-commerce organizations to meet the increasing consumer demand in a proficient manner, which, in turn, augments the market growth.

Report Segmentation

The market is primarily segmented on the basis of type, industry, and region.

By Type

By Industry

By Region

  • Unit Load
  • Mid Load
  • VLM
  • Carousel
  • Mini Load
  • Automotive
  • Metals & Heavy Machinery
  • Food & Beverages
  • Chemicals
  • Healthcare
  • Semiconductor & Electronics
  • Retail
  • Aviation
  • E-commerce
  • Others

 

  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Russia, Spain)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Insight by Type

The retail industry segment is recorded to hold the largest revenue share. The shifting consumer shopping behaviors from the traditional method to the digital preference fosters the need for the Automated Storage and Retrieval Systems (ASRS) in the retail sector. The development of this segment is giving rise to the installation of warehouses and their management solutions across various verticals.

For instance, Costco Wholesale Corporation has installed its warehouses each year with a 3-5% growth rate. Furthermore, the penetration of automated solutions has increased considerably with the rising need for automation in all industrial segments.

Various organizations are adopting automation solutions to automate their processes for competently delivering high-quality products, efficiently managing operations, and growing manufacturing ability, further stimulating the segment demand across the globe.

The automotive industry segment is projected to grow at the highest CAGR in the forecasting years. The growing demand for autonomous vehicles and electric vehicles is leading automakers to increase the production of vehicles that need automotive spare parts. The emergence of novel technologies, the growing need for automation, and growing industrialization are the major factors attributing to the global market demand.

Automotive suppliers are working on developing storage capacity in available floor space, which is further surging the demand for Automated Storage and Retrieval System (ASRS). Therefore, the rising adoption of the Automated Storage and Retrieval System (ASRS) is used to meet the needs associated with the material handling capacity, thus, in turn, accelerating the market growth.

Geographic Overview

Geographically, Europe accounted for the largest revenue share in the global market. The presence of a large consumer base, coupled with the increasing number of leading market players, is attributed to the market growth. The high labor costs are propelling the adoption of automated solutions to decrease the total operational price.

In addition, the increasing adoption of big data technologies in organizations for improving consumer target marketing and increasing risk management facility is further bolstering the demand for Automated Storage and Retrieval Systems (ASRS). Moreover, the deployment of these solutions assists producers in maintaining a competitive edge by facilitating efficient management of overall warehousing operations. Therefore, these factors are augmenting the market growth across the European region.

Moreover, the Asia Pacific market is anticipated to exhibit the highest CAGR over the forecasting years. The growth of emerging nations such as China, Japan, Australia, and South Korea, the rising focus of governments on the safety and security on production floors, coupled with growing investments by suppliers and manufacturers in the deployment of Automated Storage and Retrieval System (ASRS) at distribution centers and warehouses.

Furthermore, the widespread acceptance of automation technology, growth of the e-commerce industry, the rapid development of industry 4.0, and the high presence of automotive companies are the further factors attributed to the market growth in the forecasting years.

Competitive Insight

Some of the major players operating in the global market include KUKA, SSI Schaefer, Kardex, Daifuku, TGW Logistics, Murata Machinery, KION, Mecalux, System Logistics, and Honeywell International.

Automated Storage and Retrieval System (ASRS) Market Report Scope

Report Attributes

Details

Market size value in 2021

USD 7.45 billion

Revenue forecast in 2030

USD 14.09 billion

CAGR

7.6% from 2022 - 2030

Base year

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2030

Segments covered

By Type, By Industry, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key companies

KUKA, SSI Schaefer, Kardex, Daifuku, TGW Logistics, Murata Machinery, KION, Mecalux, System Logistics, and Honeywell International.

Key Take-Away
Polaris Market Research
Automated Storage and Retrieval System (ASRS) Market Size Global Report, 2022 - 2030