Automated Storage and Retrieval System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Automated Storage and Retrieval System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global automated storage and retrieval system market size reached US$ 19.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 29.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.9% during 2023-2028.

Automated storage and retrieval system (ASRS) is a computer-controlled device that places and recovers loads from specified storage locations accurately in a facility. It consists of shuttles, cranes, carousels, vertical lift modules (VLMs), micro-loads, mini-loads, unit-loads, warehouse execution software (WES) and warehouse management software (WMS). It offers several advantages, such as efficient use of the floor space, reclaiming unused vertical space, increasing inventory storage density, improving ergonomics and safety, enhancing throughput, and reducing labor costs. As a result, it finds extensive applications in the aviation, automotive, chemical, e-commerce, food and beverage (F&B), and healthcare industries.

Automated Storage and Retrieval System Market Trends:
At present, there is a rise in the demand for fast, precise, and efficient fulfillment of in-store retailing to ensure customer satisfaction across the globe. This, along with the growing industrial automation for improving productivity and quality while increasing safety, reducing errors, and adding flexibility to the manufacturing process, represents one of the key factors driving the market. Moreover, there is a rise in technological advancements in ASRS assisted by cutting-edge sensors. This, coupled with the escalating demand for enhanced storage systems in various industries, is propelling the growth of the market. In addition, governments of several countries are extensively investing in developing digital infrastructure, which is positively influencing the market. Besides this, the increasing order volume in the e-commerce sector due to ease of selling internationally, retargeting customers, and personalization of the buying experience is offering lucrative growth opportunities to industry investors. Apart from this, the increasing utilization of ASRS by small and mid-size enterprises (SMEs) to reduce human interaction is bolstering the growth of the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global automated storage and retrieval system market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, load, application and end user.

Breakup by Type:

Vertical Lift Modules
Carousels
Horizontal Carousels
Vertical Carousels
Crane-Based
Vertical Buffer Modules
Robotic Shuttles
Floor Robots

Breakup by Load:

Unit-Load ASRS
Fixed-Aisle ASRS
Movable-Aisle ASRS
Mini-Load ASRS
Micro-Load ASRS

Breakup by Application:

Storage
Order Picking
Kitting
Buffering
Others

Breakup 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
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Beumer Group GmbH & Co. KG, Daifuku Co. Ltd., Dematic (Kion Group AG), Honeywell International Inc., Kardex Group, Knapp AG, Mecalux S.A., Murata Machinery Ltd., Schaefer Systems International Pvt Ltd, System Logistics S.p.A. (Krones AG), TGW Logistics Group, Toyota Industries Corporation and Viastore Systems.

Key Questions Answered in This Report:
How has the global automated storage and retrieval system market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global automated storage and retrieval system market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the load?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global automated storage and retrieval system market and who are the key players?
What is the degree of competition in the industry?