The global automated storage and retrieval system market size reached US$ 19.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 29.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.9% during 2023-2028.
Automated storage and retrieval system (ASRS) is a computer-controlled device that places and recovers loads from specified storage locations accurately in a facility. It consists of shuttles, cranes, carousels, vertical lift modules (VLMs), micro-loads, mini-loads, unit-loads, warehouse execution software (WES) and warehouse management software (WMS). It offers several advantages, such as efficient use of the floor space, reclaiming unused vertical space, increasing inventory storage density, improving ergonomics and safety, enhancing throughput, and reducing labor costs. As a result, it finds extensive applications in the aviation, automotive, chemical, e-commerce, food and beverage (F&B), and healthcare industries.
Automated Storage and Retrieval System Market Trends:
At present, there is a rise in the demand for fast, precise, and efficient fulfillment of in-store retailing to ensure customer satisfaction across the globe. This, along with the growing industrial automation for improving productivity and quality while increasing safety, reducing errors, and adding flexibility to the manufacturing process, represents one of the key factors driving the market. Moreover, there is a rise in technological advancements in ASRS assisted by cutting-edge sensors. This, coupled with the escalating demand for enhanced storage systems in various industries, is propelling the growth of the market. In addition, governments of several countries are extensively investing in developing digital infrastructure, which is positively influencing the market. Besides this, the increasing order volume in the e-commerce sector due to ease of selling internationally, retargeting customers, and personalization of the buying experience is offering lucrative growth opportunities to industry investors. Apart from this, the increasing utilization of ASRS by small and mid-size enterprises (SMEs) to reduce human interaction is bolstering the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global automated storage and retrieval systemmarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, load, application and end user.
Breakup by Type:
Vertical Lift Modules
Vertical Buffer Modules
Breakup by Load:
Breakup by Application:
Breakup by End User:
Semiconductor and Electronics
Retail and Warehousing or Logistics
Chemicals, Rubber and Plastics
Healthcare and Pharma
Food and Beverage
Postal and Parcel
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Beumer Group GmbH & Co. KG, Daifuku Co. Ltd., Dematic (Kion Group AG), Honeywell International Inc., Kardex Group, Knapp AG, Mecalux S.A., Murata Machinery Ltd., Schaefer Systems International Pvt Ltd, System Logistics S.p.A. (Krones AG), TGW Logistics Group, Toyota Industries Corporation and Viastore Systems.
Base Year of the Analysis
Type, Load, Application, End User, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Beumer Group GmbH & Co. KG, Daifuku Co. Ltd., Dematic (Kion Group AG), Honeywell International Inc., Kardex Group, Knapp AG, Mecalux S.A., Murata Machinery Ltd., Schaefer Systems International Pvt Ltd, System Logistics S.p.A. (Krones AG), TGW Logistics Group, Toyota Industries Corporation and Viastore Systems
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Key Questions Answered in This Report
The global automated storage and retrieval system market was valued at US$ 19.5 Billion in 2022.
We expect the global automated storage and retrieval system market to exhibit a CAGR of 6.9% during 2023-2028.
The rising industrial automation that improve productivity and quality, while increasing safety, reducing errors, and adding flexibility to the manufacturing process is primarily driving the global automated storage and retrieval system market.
The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of automated storage and retrieval systems across the e-commerce sector for storing and managing the distribution of the essential products, thereby combating the spread of the coronavirus infection upon human interaction.
Based on the type, the global automated storage and retrieval system market has been divided into vertical lift modules, carousels, crane-based, vertical buffer modules, robotic shuttles, and floor robots, where floor robots currently exhibit a clear dominance in the market.
Based on the load, the global automated storage and retrieval system market can be categorized into unit-load ASRS, mini-load ASRS, and micro-load ASRS. Currently, unit-load ASRS accounts for the majority of the global market share.
Based on the application, the global automated storage and retrieval system market has been segregated into storage, order picking, kitting, buffering, and others. Among these, storage exhibits a clear dominance in the market.
Based on the end user, the global automated storage and retrieval system market can be bifurcated into automotive, semiconductor and electronics, general manufacturing, retail and warehousing or logistics, aviation, chemicals, rubber and plastics, healthcare and pharma, food and beverage, postal and parcel, and others. Currently, the automotive sector holds the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Europe currently dominates the global market.
Some of the major players in the global automated storage and retrieval system market include Beumer Group GmbH & Co. KG, Daifuku Co. Ltd., Dematic (Kion Group AG), Honeywell International Inc., Kardex Group, Knapp AG, Mecalux S.A., Murata Machinery Ltd., Schaefer Systems International Pvt Ltd, System Logistics S.p.A. (Krones AG), TGW Logistics Group, Toyota Industries Corporation, and Viastore Systems.
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