Automated Storage and Retrieval System (ASRS) Market by Function (Storage, Distribution, Assembly), Type (Unit Load, Mini Load, Vertical Lift Module, Carousel, Mid Load), Micro Fulfilment Center, Dark Stores, Industry and Region - Global Forecast to 2027

Automated Storage and Retrieval System (ASRS) Market by Function (Storage, Distribution, Assembly), Type (Unit Load, Mini Load, Vertical Lift Module, Carousel, Mid Load), Micro Fulfilment Center, Dark Stores, Industry and Region - Global Forecast to 2027

The global ASRS market size is anticipated to grow from USD 8.3 billion in 2022 to USD 11.8 billion by 2027, at a CAGR of 7.4% from 2022 to 2027. Technological advancement in the areas of storage centers and warehousing infrastructure and growing digitalization in several industries, such as automotive, e-commerce, and food & beverage, are some of the major factors propelling the growth of the ASRS market.

“Unit load to contribute largest market share from 2022 to 2027.”

Unit load ASRS has a wide range of applications in consumer goods, automotive, publishing, electronic, food & beverage, pharmaceutical and medical supplies, retail and apparel, and other industries. ASRS offers several benefits in distribution, warehousing, and manufacturing environments in order to reduce work-in-progress inventory, enhance product quality, increase productivity and provide real-time inventory control. It also enhances workforce productivity and raise order accuracy and customer services ensuring high throughput, density storage, and reliability, along with damage-free operations.

“Automotive industry is expected to contribute a significant market share in the ASRS market during the forecast period.”

The automotive industry contributed the largest market share in 2022. The main purpose of ASRS in the automotive industry is to support raw material handling and moving spare parts and goods to manufacturing units and warehouses. ASRS also provides the industry with better conveyor systems for automotive assembly plants reducing workers’ load and enabling easy movement of heavy parts and a high volume of applications performed. Some major providers of ASRS for the automotive industry include Daifuku, Toyota Industries, and JBT.

“Europe is expected to account for the second-largest market share during the forecast period.”

Europe has become an attractive market for ASRS manufacturing companies worldwide due to well-established companies having innovative machinery and equipment. Several companies based out of North America, Asia Pacific, and Japan have established their operations in Europe to tap and capture European customers; for instance, top companies such as Daifuku, JBT, and Scott Technology are looking for growth in the European market.

There have been some recent developments in the ASRS market in Europe. For instance, in September 2021, Swisslog, a subsidiary of KUKA, partnered with IKEA to provide automated logistics solutions.

Break-up of the profiles of primary participants:

By Company Type – Tier 1 – 45%, Tier 2 – 30%, and Tier 3 – 25%

By Designation – C-level Executives – 35%, Directors – 45%, and Others – 20%

By Region – North America - 30%, Europe – 25%, Asia Pacific – 35%, and RoW – 10%

Research Coverage:

The ASRS market has been segmented into method, material, industry and region. The ASRS market has been studied for North America, Europe, Asia Pacific, and the Rest of the World (RoW).

Reasons to buy the report:

Illustrative segmentation, analysis, and forecast of the market based on type, industry and region have been conducted to give an overall view of the ASRS market.

A value chain analysis has been performed to provide in-depth insights into the ASRS market.

The key drivers, restraints, opportunities, and challenges pertaining to the ASRS market have been detailed in this report.

The report includes a detailed competitive landscape of the market, along with key players, as well as an in-depth analysis of their revenues