Automated Storage and Retrieval Systems Market Forecasts to 2028 – Global Analysis By Type (Autostore, Floor Robots, Vertical Lift Module, Vertical Buffer Modules, Robotic Shuttles, Carousels, Mid Load, Mini Load, Unit Load, Micro-Load and Other Types), E

Automated Storage and Retrieval Systems Market Forecasts to 2028 – Global Analysis By Type (Autostore, Floor Robots, Vertical Lift Module, Vertical Buffer Modules, Robotic Shuttles, Carousels, Mid Load, Mini Load, Unit Load, Micro-Load and Other Types), Equipment (Rack Structure, Conveyor Interface, Warehouse Control System, Retrieval Machines and Other Equipments, Application, End User and By Geography

According to Stratistics MRC, the Global Automated Storage and Retrieval Systems Market is accounted for $8.3 billion in 2022 and is expected to reach $14.2 billion by 2028 growing at a CAGR of 9.3% during the forecast period. Automated storage and retrieval systems (ASRS) are a major part of many warehouse automation systems that have the ability to sort, sequence, buffer, and store a wide range of goods into virtually unlimited destinations. It mainly comprises of storage and retrieval machines, rack structure, conveyor interface, and warehouse control system. It has a wide range of applications in warehouses and distribution centers such as finished goods storage, goods to person picking, order fulfillment and many more.

According to researchers, approximately two-thirds of US companies operating in China expect lower growth due to a labor shortage. As a result of the disruption, countries like India are experiencing a shortage of essential electronic goods and components.

Market Dynamics:

Driver:

Retail supply-chain multichannel approach

Major changes in the retail distribution centers have been made as a result of the expansion of the retail sector, which was made possible by the outburst in electronic commerce. These include mass personalization and augmented customer service demands, both of which have caused the number of stock keeping units to increase exponentially. The industry will experience enlarged demand for goods as the world economy improves. In order to maintain a balance between supply and demand, new automation technologies will need to be properly integrated, which will be significant for the growth of the market.

Restraint:

High Cost of Initial Investment

The expenses connected with consulting, implementing, and maintaining the machinery and technology are the fundamental cost-contributing elements of solution. The majority of this software offers simple inventory management controls. For more multifaceted operations, it can be integrated with an existing warehouse management system which increases software costs and make difficult the integration process while adding to installation time. High and complex costs involved in integrating new technology are the factors restraining the market growth.

Opportunity:

Automated material handling systems

Automated Storage & Retrieval Systems often have substantial installation, training, and servicing expenses during their first phases. The growing support for equipment leasing has made it possible for operators to obtain these systems in new ways. The distribution centers benefit from these systems efficiency, quality control, and decreased operating costs by leasing the equipment, while also seeing an instant return on their investment. Therefore, the market will experience an augment in demand as the leasing of equipment in the sectors becomes more accessible.

Threat:

Technical faults

Automated storage and retrieval systems is a complex system operating in organization with many sensors, motors, and equipment guided by programming software. Any technical problem related to sensing element may stop the progress of an entire operational process, which leads to excess time and cost to the company. Any error in the software programming will also lead to improper performance, thereby interrupting the entire production process. Therefore, system failures adversely affect the process and result in diminishing profits, which hinders the market growth.

Covid-19 Impact

The COVID-19 pandemic created several challenges for the automated storage and retrieval systems market due to the lockdowns imposed. The pandemic impacted manufacturing and distribution operations across various industries. Social distancing has become the new norm and is expected to have long-term effects on several sectors, including manufacturing, distribution, logistics, and supply chain. The outbreak of COVID-19 disrupted the healthcare supply chain and, at the same time, proved to be a catalyst for driving changes in the circulation of healthcare products, in turn minimizing the impact of future disruptions and accelerating healthcare operations effectively.

The vertical lift module segment is expected to be the largest during the forecast period

The vertical lift module segment is estimated to have a lucrative growth, due to the increasing demand for storage and picking applications in the retail industry, the rising need for increased storage capacities, growing demand for effective inventory management, and increasing deployments by leading players. They are the next generation automated systems mainly used in industrial applications for sorting, storage and retrieval of items for an operation in a warehouse. Thus, these are the factors expanding the growth of the segment.

The storage segment is expected to have the highest CAGR during the forecast period

The storage segment is anticipated to witness the fastest CAGR growth during the forecast period, due to growing demand for innovative storage systems, and the increasing need to reduce damage to goods and industrial accidents. Several businesses integrate automated hardware and software into their storage systems for precise selection and refilling. Also, the rising demand for automated cold chain storage for critical healthcare products is further expected to support the rapid growth of this segment during the forecast period.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the adoption of automation in manufacturing. The market is increasing due to numerous industries spending extensively on automation solutions to maintain their competitiveness and lower operating costs. Mounting automotive manufacturing in developing countries, better and safer working conditions, and technological breakthroughs in robotic systems, wireless technologies, and driverless cars are the aspects boosting the region growth.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to the development of the automobile industry and government rules requiring hygiene and sanitation in the food and beverage sector. The e-commerce sector expansion, modernization of infrastructure, and expansion of manufacturing facilities are all predicted to contribute to the market growth. The demand for these technologies in warehouse automation has surged due to recent e-commerce success.

Key players in the market

Some of the key players profiled in the Automated Storage and Retrieval Systems Market include Honeywell Intelligrated, Daifuku Co., Ltd., TGW Logistics Group, Toyota Industries Corporation, SSI Schaefer Group, Mecalux SA, Swisslog Holding AG, Beumer Group GmbH, Knapp AG, Murata Machinery, Ltd, Material Handling Systems, System Logistics S.P.A., Kardex Holding AG, Viastore Systems GmbH, Dematic Group, Schaefer Systems International, Inc, Vanderlande Industries B.V. and Bastian Solutions, Inc.

Key Developments:

In August 2021, SSI Schaefer was awarded the contract to automate a new portion of ZF Foton's warehouse in Jiaxing, Zhejiang province, China. The area of supplies and services also includes a mini load with retrieval and storage devices, a modernized bin conveying system, as well as a logistics software WCS system. The operating capacity, storage volume optimization, and picking effectiveness of the warehouse will all be enhanced.

In May 2021, Toyota Industries and Third Wave Automation collaborated to create the next generation of autonomous material handling vehicles. The eventual growth in production and distribution of high-quality goods will result from integrating intelligent robots into material handling machinery.

Types Covered:
• Autostore
• Floor Robots
• Vertical Lift Module
• Vertical Buffer Modules
• Robotic Shuttles
• Carousels
• Mid Load
• Mini Load
• Unit Load
• Micro-Load
• Other Types

Equipments Covered:
• Rack Structure
• Conveyor Interface
• Warehouse Control System
• Retrieval Machines
• Other Equipments

Applications Covered:
• Storage
• Assembly
• Production
• Security
• Replenishment & Returns
• Maintenance & Repair Parts
• Order Picking
• Kitting
• Buffering
• Consolidation
• Other Applications

End Users Covered:
• Aerospace & Aviation
• Automotive
• Food & Beverage
• Healthcare & Pharmaceutical
• Lifesciences and Laboratory Automation
• Chemicals, Rubber, and Plastics
• Semiconductor & Electronics
• Retail & E-Commerce
• Metals & Heavy Machinery
• General Manufacturing
• Logistics, Warehousing, and Distribution
• Postal & Parcel
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements