Automated Storage Retrieval System Market Analysis

Global Automated Storage and Retrieval Systems (ASRS) Market Overview

Automated Storage and Retrieval Systems (ASRS) Market Size was valued at USD 8628.6 million in 2023. The Automated Storage and Retrieval Systems (ASRS) market industry is projected to grow from USD 9290.7 Million in 2024 to USD 16785.0 million by 2032, exhibiting a compound annual growth rate (CAGR) of 7.7% during the forecast period (2024 - 2032). Rising demand for the optimum utilization of space, enhanced inventory management, and cut down costs, Growing demand for ASRS in the automotive industry, and Rising use in retail supply chain multi-channel are the key market drivers boosting the growth of the Automated Storage and Retrieval Systems (ASRS) market.  

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Automated Storage and Retrieval Systems (ASRS) Market Trends

• Rising demand for the optimum utilization of space, enhanced inventory management, and cut down costs.

The Fourth Industrial Revolution has improved industrial machinery, leading to developments like automated storage and retrieval systems. This will probably help to boost an industry's manufacturing production. These industrial revolutions have resulted in the manufacturing sector dominating because it offers high levels of production accuracy and efficiency. Technology for factory automation has also grown in importance during the past few years. One of these technologies that is gaining popularity in the manufacturing sector is ASRS solutions. Every automated storage and retrieval system has tools for inventory management and labour management. There is a high demand for these systems among warehouse or inventory operations since each system can track the product and amounts held at various points inside the system. Due to carefully managed labor and waste reduction, program expenses are decreased for the end customer. Additionally, adopting ASRS results in warehouse automation, which lowers labor costs and promotes efficient space utilization. The second most evident advantage of automated storage and retrieval systems is the labor savings they offer. By employing the "goods to person" strategy, ASRS units send the requested item straight to the operator, saving the operator's time from having to walk and look for it. Employees frequently walk kilometers throughout a shift, which wastes time. For 60 to 65 percent of their hours, workers in manual tasks must journey to the stored objects on foot. To discover the proper item and compare component numbers, a worker must also visually check the shelves at a picking site, which can take several minutes or longer.

Automated Storage and Retrieval Systems (ASRS) Market Platform Segment Insights

Automated Storage and Retrieval Systems (ASRS) Type Insights

An Automated Storage and Retrieval System (AS/RS) is a set of equipment and controls that handle, store, and retrieve goods as needed with precision, accuracy, and speed. Smaller automated systems to bigger computer-controlled storage/retrieval systems fully integrated into a production and/or distribution process are examples of systems. AS/RS refers to a class of computer-controlled systems for automatically depositing and retrieving loads to and from specified storage places.

Based on type, the Automated Storage and Retrieval Systems (ASRS) Market segmented into load-based ASRS, shuttle and bot-based ASRS, Carousel based ASRS, and Vertical lift module ASRS. Carousel based ASRS accounted for the largest market share in 2022 as these systems are very successful that find and show a variety of items to operators in a fixed position. This Goods to Person (G2P) technology enable high-productivity pick rates by fetching products and delivering them to the operator with minimal to no mistake. There are numerous arrangements that are vertically or horizontally based. Carousels save space and time by moving the racks instead of the person seeking and collecting goods from the racks. Many developments in Carousel systems have occurred in recent years, making this warehouse automation technology easier to implement, scale, and more economical than in the past.

FIGURE 1: GLOBAL AUTOMATED STORAGE AND RETRIEVAL SYSTEMS (ASRS) MARKET, BY TYPE, 2022 VS 2032 (USD MILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Automated Storage and Retrieval Systems (ASRS) Industry Verticals Insights

Based on the industry verticals, the Automated Storage and Retrieval Systems (ASRS) Market segmentation is automotive, metals and machinery, food and beverages, chemicals, healthcare, semiconductor and electronics, retail and E-commerce, aviation, and others. Among these industry verticals, retail and E-commerce are expected to capture that largest market share while food and beverages segment is expected to capture that second largest market share.

Automated Storage and Retrieval Systems (ASRS) Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. Further, the major countries studied in the market report are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

The US, Canada, and Mexico are a few of the significant countries in North America, which is a hub for technological growth. Because of this, the region's flourishing manufacturing industry remains the primary generator of wealth, employment, and innovation. IoT is becoming increasingly popular, and businesses in the US are figuring out how to use it with automated storage solutions to save even more time and money. Automated storage systems with IoT integration allow for remote monitoring, prompt report status production, faster error recovery, and increased productivity. There are many omnichannel vendors nationwide, making them one of the biggest customers of ASRS-type material handling solutions. The e-commerce businesses that need high throughput operations in their fulfillment centers place a particularly strong demand on ASRS. One of the region's most important retail markets is likely to be the United States. Retail sales provide more than two-thirds of the nation's GDP yearly. The country's e-commerce industry's sales growth exceeds that of its conventional outlets. There is more competition between online and omnichannel stores as automation becomes the major differentiator. The retail sector in North America is well-established, enormous, and dominated by omnichannel vendors. The biggest users of material handling products like ASR are these suppliers.

FIGURE 2: AUTOMATED STORAGE AND RETRIEVAL SYSTEMS (ASRS) MARKET SIZE BY REGION 2022 VS 2032

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Due to growing investments in the industry - 4.0 revolution, Europe was the region to adopt industrial automation first. Over one-third of all Industry 4.0 investments worldwide, according to the CBI Ministry of Foreign Affairs, are made in Europe. Its primary markets are in Western and Northern Europe, particularly Germany, where the phrase was first used and where it currently leads. When it comes to the use of automation in warehouses, Northern Europe has historically been the market with the most development. The adoption of sophisticated and advanced automation has also been spurred by the factory's working conditions, in addition to the high cost of labor. System Logistics has helped important clients in Scandinavia's food and beverage industry efficiently manage picking, warehousing, and material handling operations. Additionally, in warehouses across Europe, man and machine are increasingly collaborating, and a lack of an effective and skilled workforce, according to investment management firm JLL, could hasten automation even more.

Automated Storage and Retrieval Systems (ASRS) Key Market Players& Competitive Insights

With a strong presence across different verticals and geographies, the Automated Storage and Retrieval Systems (ASRS) market is highly competitive and dominated by established, pure-play vendors. There are major players catering to this market, and they continually innovate their solutions to meet the evolving needs of businesses by adopting new technologies. These vendors have a robust geographic footprint and partner ecosystem to cater to diverse customer segments. The Automated Storage and Retrieval Systems (ASRS) market is highly competitive, with many vendors offering similar products and services.

The major players in the market include Honeywell International Inc., Murata Machinery Ltd, SSI Schaffer Group, Hairobotics, Exotec, Opex Corporation, Toyota Industries Corporation, Bastian Solutions, Vanderland Industries BV, Swisslog Holdings AG, Kardex, and Autostore Holdings Ltd.  

Key Companies in the Automated Storage and Retrieval Systems (ASRS) market include

• Honeywell International Inc


• Murata Machinery Ltd


• SSI Schaffer Group


• Hairobotics


• Exotec


• Opex Corporation


• Toyota Industries Corporation


• Bastian Solutions


• Vanderland Industries BV


• Swisslog Holdings AG


• Kardex


• Autostore Holdings Ltd.


• Kuka Ag


• Knapp AG


• Daifuku Co LtdSystem Logistics S P A

Automated Storage and Retrieval Systems (ASRS) Industry Developments

• November 2021 Honeywell International Inc. has announced the launch of a new automated storage and retrieval solution that employs artificial intelligence and machine learning to help warehouse and distribution center operators keep up with unprecedented e-commerce development. Honeywell's next-generation automated storage and retrieval system (ASRS) is intended to assist warehouses, distribution centers, and production sites in receiving, processing, and filling orders more quickly and correctly, while potentially lowering their footprint.


• March 2022 Murata Machinery USA Inc. has expanded its automated guided vehicles product offering and is partnering with AGVE AB. The company has added seven standards. A-Series models to its Muratec Premex Series. The automated guided vehicle (AGV) models are customizable for a wide range of load capacities, lift heights, navigation methods, temperature ratings, and software applications. From its headquarters in Charlotte, N.C., Murata Machinery will take over and lead all North American operations in partnership with the AGVE Group, directing day-to-day North American sales, installation, service, and marketing operations.


• February 2021 Toyota Industries Corporation announced the launch of a highly versatile small fuel cell (FC) module that packages FC system-related components, such as the FC stack, air compressor, and hydrogen circulation pump, into a single, small unit.

Automated Storage and Retrieval Systems (ASRS) Market Segmentation

Automated Storage and Retrieval Systems (ASRS) Type Outlook

• Load based ASRS
  
  
  
  • Unit load ASRS
  
  
  • Mini load ASRS
  
  
  • Micro-load ASRS
  
  
  
  


• Shuttle and Bot-based ASRS
  
  
  
  • Shuttle based ASRS
  
  
  • Floor based ASRS
  
  
  
  


• Carousel based ASRS
  
  
  
  • Vertical carousel
  
  
  • Horizontal carousel
  
  
  
  


• Vertical lift module (VLM)

Automated Storage and Retrieval Systems (ASRS) Industry Verticals Outlook

• Automotive


• Metals and machinery


• Food and beverages


• Chemicals


• Healthcare


• Semiconductor and electronics


• Retail and E-commerce


• Aviation


• Others

Automated Storage and Retrieval Systems (ASRS) Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Middle East & Africa
  
  
  
  • South Africa
  
  
  • Qatar
  
  
  • Saudi Arabia
  
  
  • UAE
  
  
  • Egypt
  
  
  • Rest of the Middle East & Africa
  
  
  
  


• South America
  
  
  
  • Brazil
  
  
  • Argentina
  
  
  • Colombia
  
  
  • Chile
  
  
  • Rest of South America.