Automated Storage and Retrieval System (ASRS) is a warehouse automation system that uses automated cranes and storage bins to store, retrieve and transport goods across a warehouse. ASRS optimizes warehouse operations by maximizing storage capacity and reducing labor costs. It enables efficient order fulfillment for e-commerce retailers by quickly retrieving inventory for orders.
The global Automated Storage and Retrieval System Market is estimated to be valued at US$ 20 Billion in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising e-commerce orders are accelerating the growth of the automated storage and retrieval system market. E-commerce retailers are increasingly adopting ASRS to automate their warehouses and fulfill growing online orders efficiently. ASRS allows e-commerce companies to maximize warehouse space, store thousands of inventory SKUs in a small physical footprint and quickly retrieve items to fulfill orders. With e-commerce sales growing exponentially worldwide, the demand for automation solutions like ASRS is increasing among e-commerce retailers to handle frequent pick-and-pack tasks associated with online orders. This is projected to remain a key trend in the automated storage and retrieval system market over the forecast period.
Segment Analysis
The global Automated Storage and Retrieval System market is dominated by unit-load AS/RS which accounts for over 40% share of the total market. Unit-load AS/RS allows efficient storage and retrieval of discrete loads such as pallets, trays and containers. Its ability to handle various types and sizes of loads with ease has made it a popular choice in automotive, e-commerce, manufacturing and retail industries where supply chain efficiency is of prime importance. Mini-load AS/RS trails unit-load with around 30% share and finds application in electronics and food & beverage sectors where smaller loads like bins and boxes are involved.
Key Takeaways
The global Automated Storage And Retrieval System Market Demand is expected to witness high growth.
Regional analysis: The Asia Pacific region holds the highest share in the global market and is expected to maintain its dominance during the forecast period. Rapid industrialization and investment in automation technologies across industries such as automotive, electronics, retail and e-commerce are driving the growth of AS/RS market in Asia Pacific.
Key players operating in the Automated Storage and Retrieval System market are Daifuku, SSI Schaefer Group, Murata Machinery, Knapp AG, TGW Logistics Group GmbH, Kardex Group, Swisslog Holding AG, Mecalux SA, Vanderlande Industries, System Logistics Corporation, Bastian Solutions, Beumer Group, and Dematic GmbH & Co. KG.
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