Segments - Automated Storage and Retrieval System (ASRS) Market by Type (Carousel, Unit Load, Autostore, Mini Load, Mid Load, Vertical Lift Module, and Others), Application (Storage, Buffering, Kitting, Order Picking, and Others), End-user (Healthcare, E-commerce, Automotive, Food & Beverages, Retail, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
The Global Automated Storage and Retrieval System (ASRS) Market size was USD 8.6 Billion in 2022 and is likely to reach USD 18.10 Billion by 2031, expanding at a CAGR of 8% during 2023–2031. The market growth is attributed to the high demand from the manufacturing industry.
Rise of the industry 4.0 revolution has increased the demand for advancements in manufacturing types of machinery including inventions such as ASRS, which is likely to speed up the production of manufactured items in the industry. The manufacturing sector is growing, as it provides high accuracy and speed of making inventions of parts and products, due to the advent of industrial revolutions. Several manufacturing automation technologies have gained popularity due to the new technologies, which is expected to boost the automated storage and retrieval system market.
In June 2023, Falcon Autotech launched a NEO, an ASRS that everyone can own. NEO is set to develop the warehousing landscape by offering improved productivity, businesses unparalleled efficiency, and streamlined inventory management for order fulfillment and piece-picking operations. NEO is leveraging robotics, AI, and innovative sensors to automate goods storage and retrieval processes.
The market report finds that the COVID-19 pandemic hindered the automated storage and retrieval system market, due to the strict regulations imposed by governments. During the pandemic, disruption of the supply chain, lack of immature materials, and production in all industries and several countries have a significant influence on individuals’ lives and quality of life, which hinders the market.
However, several industries have started an e-commerce sector, as they can sell products through online platforms, due to the social distancing and lockdowns imposed by the government. Thus, in turn, is likely to increase the demand for the automated storage and retrieval system market.
Artificial intelligence (AI) technologies are anticipated to fuel the ASRS market in the coming years. AI-driven ASRS systems are providing businesses with unprecedented levels of efficiency, accuracy, and cost savings. These systems are created to improve the retrieval and storage of goods. These systems quickly and accurately locate and store items in the most efficient manner possible, by leveraging AI-based algorithms. This significantly reduces the time and labor required to manage a warehouse or storage facility.
In November 2021, Honeywell International Inc., launched a new ASRS that uses AI and ML to agree distribution and warehouse center operators to better keep up with unprecedented e-commerce growth. Its scalable automation can effectively manage more than 20,000 SKUs using high-speed shuttles with configurable end and intra-aisle vertical lift locations.
Increasing demand for ASRS in the e-commerce industry during the COVID-19 pandemic is expected to drive the automated storage and retrieval system market during the forecast period. Increase in the installation of warehouses to better manage multiple regions for better and optimized logistics is rising in the retail e-commerce industry. E-commerce has shown a huge impact on conventional business activities and has transformed and changed the way business is done across the globe, thus, in turn, is likely to boost the market.
In November 2022, OSARO introduced a partner program that aims to streamline the deployment of robotic solutions for logistics businesses and e-commerce. The OSARO partners alliance program offers a range of collaboration and comarketing opportunities for third-party logistics companies, vendors, distributors, integrators, resellers, and consultants to deliver unified solutions. This program is designed to improve every stage of a customer’s deployment and purchasing process, whether with ASRS, autonomous mobile robots, or other solution technologies.
Increasing popularity of ASRS particularly in the automotive industry is expected to boost the automated storage and retrieval system market. ASRS systems improve the supply chain and enhance warehouse management processes in the automotive industry. ASRS’s ability to precisely retrieve vehicle assembly components has shortened lead times, minimized production bottlenecks, and enabled swift response to market demand fluctuations.
High initial and maintenance cost is expected to hamper the automated storage and retrieval system market. The weight of stored products requires a heavy-duty machine with sturdy bins or trays. Products that need special handling such as food products, biomedical products, hazardous chemicals and liquids, electronics, and pharmaceuticals surge the price of ASRS solutions.
Automated storage and retrieval systems (ASRS) are guided by computer-controlled systems for automated storage and retrieval of a wide range of load types, including trays, cases, pallets, boxes, or individual items.
Increasing research & development activities in ASRS is expected to create lucrative opportunities for the market players. Several companies are investing to create more innovative technologies such as shuttles and mid-load, that help companies to gain a competitive edge for the automated storage and retrieval systems market.
In February 2023, Murata Machinery launched its latest addition to Muratec’s range of automated material handling solutions for small product storage and retrieval. The new Ledger A3 ASRS mini-load is a high-density and simultaneous carriage unloading and loading of four totes for picking, storing, and lightweight goods.
The market report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Automated Storage and Retrieval System (ASRS) Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016–2021 |
Forecast Period |
2023–2031 |
Segmentation |
Type (Carousel, Unit Load, Autostore, Mini Load, Mid Load, Vertical Lift Module, and Others), Application (Storage, Buffering, Kitting, Order Picking, and Others), and End-user (Healthcare, E-commerce, Automotive, Food & Beverages, Retail, and Others) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
Key Players Covered in the Report |
Murata Machinery, Ltd.; Mecalux, S.A.; KNAPP AG; KION GROUP AG; Kardex; Honeywell International Inc; Daifuku Co., Ltd.; BEUMER GROUP; Vecna Robotics; and A.P. Moller – Maersk |
Based on type, the automated storage and retrieval system (ASRS) market is divided into Carousel, unit load, autostore, mini load, mid load, vertical lift module, and others. The vertical lift module (VLM) segment is expected to expand at a significant pace during the projection period, as it enhances safety features, increases pick rates, and eliminates wasted floor space.
VLMs are storage systems that use the available ceiling height to minimize their footprint. These systems provide secure and safe storage for a large supply of goods, which can be quickly accessed and automatically delivered to operators with the touch of a button on the user-friendly copilot controller or by scanning the barcode.
The unit load segment is anticipated to hold a key share of the market in the coming years, as it provides high-density storage and allows for reduced aisle space. This unit load technology is a Storage Retrieval Machine (SRM) or crane that is designed for larger load handling that typically weighs over 400 lbs. The unit load ASRS is applied in warehousing, distribution, and manufacturing environments to address a myriad of security, operational, and productivity issues.
In terms of application, the global market is segregated into storage, buffering, kitting, order picking, and others. The storage segment is projected to register a considerable CAGR during the forecast period, as it provides high-density storage components and parts that are used in a manufacturing process.
The segment growth is further attributed to the increasing interest in novel storage solutions, rapid growth in online shopping, and high pressure to lower product damage and workplace accidents. High need for automated cold chain storage for essential healthcare supplies is expected to boost the segment in the market.
In April 2022, Geek+ launched its multilevel storage and retrieval system, Sky-Storage and Ground-Pick. Sky-Storage and Ground-Pick use Greek+ X-series four-way shuttle robots to increase storage density whilst devoting the ground floor to picking operations assigned to the company’s flagship P800 robots.
The order picking segment is anticipated to account for a major market share in the coming years, as it is used for picking orders in manufacturing plants, warehouses, and distribution centers. Order picking offers fast, compact, and reliable access to the items that are required for distribution, bringing stored items to the operator for fast order fulfillment, supported by software integration.
On the basis of end-user, the automated storage and retrieval system (ASRS) market is segmented into healthcare, e-commerce, automotive, food & beverages, retail, and others. The automotive segment is expected to register a robust growth rate during the forecast period, due to the increase in the development of improved production logistics solutions for automation in the production line.
The segment growth is further attributed to the increase in local government initiatives to revive the auto industry and the shortage of skilled laborers particularly in developing countries. In the automotive industry, vehicle bodies are retrieved/stored in the mixed bank after they are painted and before making their way into the final assembly process.
The e-commerce segment is projected to hold a large market share in the coming years, owing to the increasing online shopping. ASRS systems are well-suited to meet the growing demands of modern commerce, with their ability to improve inventory management, optimize space, and streamline order fulfillment processes. E-commerce has accompanied an era of continuous variability in order demand as mobile and online shoppers are expected to purchase any product at any time.
According to the report published by Oberlo, e-commerce sales are projected to account for around 20.8% of retail sales all over the world in 2023. It is growing quickly and is expected to make up a whopping 24% of retail sales by 2026 worldwide.
In terms of region, the global automated storage and retrieval system (ASRS) market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the projection period, owing to the increasing need for efficiency in manufacturing and logistics, rapid industrialization, and the thriving e-commerce sector.
Several companies and governments are investing in automation to address labor shortages, reduce operational costs, and improve productivity. Asia Pacific emerged as one of the world’s largest e-commerce hubs, owing to the increasing middle-class population particularly in China, India, and others, and the popularity of mobile gadgets.
According to the report published by Statista, in 2023, the e-commerce market is expected to reach around USD 1,81.00 billion. In China, with a projected market volume of USD 1,319.00 billion.
The market in North America is anticipated to expand at a rapid pace in the coming years, due to the increasing presence of big data innovations among organizations to increase consumer target marketing and risk management abilities. The regional market growth is the rapid infrastructure and industrial development growth that allowed the automated storage system manufacturers to expand their penetration in various countries.
The global automated storage and retrieval system (ASRS) market has been segmented on the basis of
Key players competing in the global automated storage and retrieval system (ASRS) market are Murata Machinery, Ltd.; Mecalux, S.A.; KNAPP AG; KION GROUP AG; Kardex; Honeywell International Inc; Daifuku Co., Ltd.; BEUMER GROUP; Vecna Robotics; and A.P. Moller – Maersk.
These key players adopt various strategies including mergers, acquisitions, collaboration, partnerships, product launches, and production expansion to expand their consumer base globally.
In October 2022, Vecna Robotics launched a major software release and hardware upgrades to its AFL-class autonomous forklift. These new capabilities increase the company’s reach within warehouse and factory floors by improving material transport between other equipment and machinery, specifically focusing on low-lift workflows.