The automated storage and retrieval system market consists of sales of automated storage and retrieval system by entities (organizations, sole proprietors, partnerships) that store, buffer, and retrieve products in warehouses and distribution centers. Automated storage and retrieval systems are computer-controlled systems that automatically place and retrieve loads from set storage locations in a facility and provide products security, eliminate damage, and increase productivity, speed, and accuracy.
The main types of automated storage and retrieval system are unit load, mid load, vertical lift module, carousel, and mini-load. Unit load ASRS are typically used to handle exceptionally large and heavy loads ranging from 1,000 to 5,500 pounds. The various functions provided by these systems are distribution, storage, assembly, kitting, and order picking and are used by end-users such as automotive, semiconductor and electronics, general manufacturing, retail, and warehousing or logistics, aviation, chemicals, rubber, and plastics, healthcare and pharma, food and beverage, and postal and parcel.
The automated storage and retrieval system market research report is one of a series of new reports from The Business Research Company that provides automated storage and retrieval system market statistics, including automated storage and retrieval system industry global market size, regional shares, competitors with a automated storage and retrieval system market share, detailed automated storage and retrieval system market segments, market trends and opportunities, and any further data you may need to thrive in the automated storage and retrieval system industry. This automated storage and retrieval system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The global automated storage and retrieval system market size is expected to grow from $8.15 billion in 2021 to $8.8 billion in 2022 at a compound annual growth rate (CAGR) of 8.0%. The global automated storage and retrieval systems market size is expected to grow to $12 billion in 2026 at a CAGR of 8.1%.
The increasing demand for automation is significantly driving the growth of the automated storage and retrieval system market. Automation refers to the application of technologies with minimal human intervention for producing and delivering goods and services. The majority of the industrial sectors are adopting automated systems such as automated storage and retrieval system to cut back errors, reduce repetitive tasks, and lower processing costs. The increasing demand for automation in the industries is directly promoting the increased use of automated storage and retrieval system. For instance, according to the Future of Jobs Survey 2020, World Economic Forum, an international non-governmental and lobbying organization, 50% of business leaders are planning to adopt automation of repetitive tasks and 85% of business leaders said that automation will give more time to focus on the important goals to the company. Therefore, the increase in demand for automation is driving the growth of the automated storage and retrieval system market.
Technological advancements are shaping the automated storage and retrieval systems market. Major market players are developing advanced automated storage and retrieval systems with innovative technologies for industrial use to cut back errors, reduce repetitive tasks, and lower processing costs. For instance, in November 2021, Honeywell International Inc. launched a new automated storage and retrieval system with machine learning and artificial intelligence to automate complex tasks in distribution centers, warehouses, and manufacturing sites to process, receive, and fill orders at a faster pace and accuracy. These include Smart Flexible Depalletizer to help automate the unloading pallets manual process.
In April 2019, Daifuku Co. Ltd., a Japan-based material-handling equipment company acquired Vega Conveyors & Automation Private Limited for an undisclosed amount. Through this acquisition, Daifuku aims to expand its footprint in India and other Asian and Oceania markets by leveraging Vega Conveyors & Automation’s technology and expertise. Vega Conveyors & Automation Private Limited is an India-based industrial automation company that produces cost-effective systems for material handling and conveying automation.
Major players in the automated storage and retrieval system market are Schaefer Systems International Pvt Ltd, Beumer Group, Daifuku Co. Ltd., Dematic, Honeywell International Inc, Kardex, Knapp AG, Murata Machinery Singapore Pte. Ltd., TGW Logistics Group, Swisslog Holding AG, Mecalux, System Logistics S.p.A., Vanderlande Industries, Westfalia Technologies, Inc. and KUKA Deutschland GmbH.
Western Europe was the largest region in the automated storage and retrieval system market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the global automated storage and retrieval system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the automated storage and retrieval system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The global automated storage and retrieval system market is segmented -
1) By Type: Unit Load, Mid Load, Vertical Lift Module, Carousel, Mini Load
2) By Function: Distribution, Storage, Assembly, Kitting, Order Picking
3) 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