The global automated storage and retrieval system market revenue was around US$ 9,181 million in 2022 and is estimated to reach US$ 17,021 million by 2031, growing at a compound annual growth rate (CAGR) of 7.1% during the forecast period from 2023 to 2031.
An automated storage and retrieval system (AS/RS) are a kind of computer-controlled storage and retrieval device that moves a product from a selected storage area automatically. These systems are a perfect way to raise productivity and streamline the process of inventory management.
Market Driving Factors
The increase in spending for research and development activities is a growing trend that is estimated to boost market growth. Several companies are increasingly investing in R&D to provide more creative solutions that can aid them in gaining a competitive edge in the market. As all automated machines are linked, the increasing R&D will significantly impact automated storage and retrieval system (ASRS) technology.
Surge in requirement for cost decline and achieving optimum use of space to drive the market growth. All automated storage and retrieval systems include inventory control functionalities and labor management. The demand for these systems is high among inventory or warehouse operations as every system can track the quantities and products stored at several locations in the system.
In addition, it aids the end user with the price of additional programs because labor management and waste reduction are controlled. As a result, the use of ASRS brings warehouse automation that assists in cutting down labor prices and aids in achieving optimal use of space.
The high price of initial investment and complexities of customization constrain the market growth.
Regional Analysis
North America is expected to dominate the market. This is due to the presence of a strong economy, high penetration of Carousel computing, and existing awareness about the use of Hadoop in the region. Furthermore, the surge in the requirement for automation in the region is leading organizations to automate their operations at a faster pace to cater to market demands. Thus, this factor boosts the market growth in the region.
Asia Pacific is also anticipated to witness substantial growth in the market. This growth is due to an increase in industrial and infrastructure activities, in countries such as China and India. In addition, the increase in the adoption of automated systems in the industrial segment, and heavy investment in automation solutions to cut down operational prices also benefit the market. Furthermore, the rise in technological developments in robotic systems, wireless technologies, and autonomous vehicles is creating demand for ASRS in the region.
Segmentation Insights
Type Insight
The carousel segment is estimated to dominate the market. This is because of the increasing use of carousel solutions in domestic applications. In addition, horizontal carousels are broadly utilized in household applications such as dry cleaners where the wire carriers are suspended from the rail to the carriers for them to maintain plastic bins containing small-sized products. The surge in the use of carousel solutions is propelling the segment’s growth.
Function Insight
The assembly segment is expected to dominate the market. This is due to the increase in adoption of assembly lines in the manufacturing and automotive industries. Additionally, due to the increase in automation and digitization, the demand for assembly lines is rising in the automotive industry.
The distribution segment dominates the market and to witness significant growth in the near future. This is because of the surge in demand for conveyor belts, loaders, and reclaimers in warehouses worldwide. In addition, the increasing adoption of robotic systems in warehouses for manufacturers to achieve higher quality, reliability, and product life cycle is boosting the segment growth.
Industry Vertical Insight
The aviation segment is estimated to dominate the market. This is due to the surge in the implementation of cutting-edge automated systems in airports to eliminate hazardous handling practices, pilferage, theft, and misplacement of cargo.
The automotive segment is predicted to dominate the market. This is because increase in the introduction of enhanced production logistic solutions for automation in production lines. Thus. this factor led to the increasing adoption of ASRS in the automotive industry.
Prominent Companies
Segmentation Outline
The global automated storage and retrieval system market segmentation focuses on Type, Function, Industry Vertical, and Region.
By Type
By Function
By Industry Vertical
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL AUTOMATED STORAGE AND RETRIEVAL SYSTEM MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: AUTOMATED STORAGE AND RETRIEVAL SYSTEM MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL AUTOMATED STORAGE AND RETRIEVAL SYSTEM MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL AUTOMATED STORAGE AND RETRIEVAL SYSTEM MARKET, BY TYPE
5.1 OVERVIEW
5.2 AUTOSTORE
5.3 CAROUSEL
5.4 MID LOAD
5.5 MINI LOAD
5.6 UNIT LOAD
5.7 VERTICAL LIFT MODULE
6 GLOBAL AUTOMATED STORAGE AND RETRIEVAL SYSTEM MARKET, BY FUNCTION
6.1 OVERVIEW
6.2 ASSEMBLY
6.3 DISTRIBUTION
6.4 KITTING
6.5 ORDER PICKING
6.6 STORAGE
6.7 OTHERS
7 GLOBAL AUTOMATED STORAGE AND RETRIEVAL SYSTEM MARKET, BY INDUSTRY VERTICAL
7.1 OVERVIEW
7.2 AVIATION
7.3 AUTOMOTIVE
7.4 CHEMICALS
7.5 RETAIL & E-COMMERCE
7.6 FOOD & BEVERAGES
7.7 HEALTHCARE & PHARMACEUTICALS
7.8 METALS & HEAVY MACHINERY
7.9 SEMICONDUCTORS & ELECTRONICS
7.10 OTHERS
8 GLOBAL AUTOMATED STORAGE AND RETRIEVAL SYSTEM MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3.1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL AUTOMATED STORAGE AND RETRIEVAL SYSTEM MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 MURATA MACHINERY LTD
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 HONEYWELL INTELLIGRATED
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 BASTIAN SOLUTIONS INC
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 DEMATIC
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 TGW LOGISTICS GROUP
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 DAIFUKU CO LTD
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 KNAPP AG
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 BEUMER GROUP
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 SSI SCHAEFER GROUP
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 KARDEX GROUP
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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