The global Automated Storage and Retrieval System (ASRS) market size is expected to reach USD 14.09 billion by 2030 according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The Automated Storage And Retrieval System (ASRS) is projected to grow owing to the factors such as the growing need for efficient material flow control in warehouses and distribution centers, the rising deployment of ASRS by small and medium scale enterprises (SMEs), and the availability of better supply chain facilities.
Additionally, the emergence of the novel technologies such as pallet shuttle and mid load, coupled with the deployment of various automation solutions for boosting the productivity of industrial activities, is also fostering the market demand. Furthermore, the growing need for the rapid, precise, and competent fulfillment for in-store retailing, development of the emerging economies, and favorable government policies for digital infrastructural development is further stimulating the global market growth in the forthcoming years.
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The growing demand for cold chain systems in emerging regions like Asia Pacific is a major driving factor for market growth. The increasing popularity of frozen and chilled foods & beverages in Asia Pacific exhibits the shifting food preferences among the population. The development of the infrastructure for supporting cold chain operations in the region is also leading the demand for the ASRS.
The rising globalization allows the export and import of perishable products; thereby, technological developments maintain and boost the quality of the goods that lead to the demand for frozen foods in the international markets. Additionally, ASRS facilitates fast configuration to the best storage and retrieval need for nearly all kinds of end-use applications.
Market participants such as KUKA, SSI Schaefer, Kardex, Daifuku, TGW Logistics, Murata Machinery, KION, Mecalux, System Logistics, and Honeywell International are some of the key players operating in the global market. Further, the companies are initiating collaborative initiatives to increase their market share. For instance, in May 2021, Toyota Industries entered into a collaborative agreement with Third wave automation to manufacturing the next generation of fully autonomous material handling vehicles by incorporating intelligent robots into material handling equipment.
Polaris Market Research has segmented the Automated Storage and Retrieval System (ASRS) market report on the basis of type, industry, and region:
Automated Storage and Retrieval System (ASRS), Type Outlook (Revenue – USD Million, 2018 – 2030)
- Unit Load
- Mid Load
- Mini Load
Automated Storage and Retrieval System (ASRS), IndustryOutlook (Revenue – USD Million, 2018 – 2030)
- Metals & Heavy Machinery
- Food & Beverages
- Semiconductor & Electronics
Automated Storage and Retrieval System (ASRS), Regional Outlook (Revenue – USD Million, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- Saudi Arabia
- South Africa