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Global Automated storage and retrieval system market By Type ( Autostore, Carousel, Mid Load, Mini Load, Unit Load, Vertical Lift Module); By Function ( Assembly, Distribution, Kitting, Order Picking, Storage, Others ); By Industry Vertical ( Aviation, Automotive, Chemicals, Retail & E-Commerce, Food & Beverages, Healthcare & Pharmaceuticals, Metals & Heavy Machinery, Semiconductors & Electronics, Others ); and by Regional Analysis (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast (2023 – 2028)

Published: March, 2023
ID: 6757
Pages: 175
Formats: report pdf report excel report power bi report ppt

Automated Storage and retrieval system Market Size (2023-2028):

The Global Automated Storage and retrieval system market is expected to reach USD 29.4 billion by 2028 from USD 10.72 billion in 2022, registering a CAGR of 7.1 % from 2023 to 2028.

Automated Storage and Retrieval System Market

Market Overview

Automated storage and retrieval system have automated systems integrated under computer-controlled systems. It helps in placing and retrieving products/parts from defined storage locations such as manufacturing, distribution, retail, wholesale, and institutions. The system requires automated guided vehicles and AS/RS system software to coordinate the process. In order to store items, the automated storage and retrieval system records the details of products and allot suitable locations for items in the warehouse. Whereas for retrieving the products, automated systems give the product’s exact location and quantity available. Also, the software keeps on updating the inventory on a constant basis about items retrieved or stored. The AS/RS system is used in aviation, chemical, E-commerce, automotive, food and beverage, and healthcare industries.

Recent developments in the automated storage and retrieval system industry:

  • In 2023, System Logistics S.P.A attended LogiMAT 2023, an international trade fair for intralogistics solutions and process management held in Europe. In this event, companies will come out with a new set of technological standards.
  • In 2022, Aurobindo Pharma USA implemented AS/RS system in New Jersey, DC, to make it a distribution hub for the U.S. This helps the company to do operations efficiently and keep traceability of its products.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022 – 2028

Base Year

2022

Forecast Period

2023 - 2028

CAGR

7.7%

Segments Covered

By Type, Function, Industry and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Daifuku Co. Ltd, SSI Schaefer Group, Murata Machinery, Knapp AG, TGW Logistics Group GmbH, Kardex Group, Swisslog Holding AG, Mecalux SA, Vanderlande Industries, System Logistics Corporation, Bastian Solutionand Others.

Drivers:

Increase in adoption of automated storage and retrieval system in the industry

The growing demand for industrial automation to increase productivity and quality and reduce the risk of injuries in the manufacturing process is driving market growth. Even rising industries such as E-commerce and logistics are using the system to carry out functions precisely and efficiently. Further benefits such as better control over inventory, reclaiming unused vertical spaces, safer operations, and reduced labor costs are propelling the market growth. Moreover, technological advancements in ASSR systems coupled with government investments for promoting automation are fuelling market growth. Furthermore, the increase in the adoption of ASSR systems in small and middle-scale industries is bolstering the expansion of the automated storage and retrieval system market.

Restraints

High Purchase and maintenance costs

The automated storage and retrieval system is a complicated system with integrated software, automated systems, and storage spaces. The installation of the system is costly as whole storage and distribution spaces should be automated. Further professionally trained personnel are required for the maintenance of the system. In addition, any inaccuracy and miscalculation can hamper the whole system and decline the market AS/RS sales. Moreover, software should be updated constantly, and periodical training for technicians will weigh on the company and hinder market expansion. Furthermore, the storage and distribution spaces should be designed with requirements like ease of maintenance, storage capacity, height limitations, and ease of integration with automated systems.

Opportunities

The rapid expansion of the E-commerce industry is offering lucrative opportunities to the automated storage and retrieval system market. The software aids the company in identifying and shipping the product from the warehouse facility with less human intervention. Further, an increase in Omnichannel distribution resulted in the need for tracking the stock-keeping units (SKU) in the warehouse. This provides a huge opportunity for the market. Moreover, the increase in integration of automated storage and retrieval system in health care, E-commerce, and logistics companies are creating significant opportunities for market expansion.

COVID-19 Impact on the automated storage and retrieval system Market:

COVID-19 has an economic impact and implications on global markets. Several projects of prime businesses in processing and non-processing industries are stalled and scrapped due to a lack of raw materials, limited workforce, government restrictions, and supply chain disruptions. Countries such as the U.K., Sri Lanka, Brazil, and Italy are facing economic crises and high inflation. Even every nation is facing the uncertainty of employment, rise in inflation, and unavailability of essential goods and services, globally. Further, several supply and demand mismatches in both developing and developed countries have negatively impacted interconnected economies globally. However, automated storage and retrieval system have had positive growth during COVID-19. The increase in demand for handling systems remotely during the pandemic has contributed to the growth of the market. Manufacturers are actively opting for automated storage and retrieval systems by partnering with various automation companies, as the convenience of storing and retrieving the products without any misplacement is helping them to capture market share.

Automated Storage and retrieval system Market Segmentation Analysis:

By Type:

  • Autostore
  • Carousel
  • Mid Load
  • Mini Load
  • Unit Load
  • Vertical Lift Module

The Unit load segment is expected to record the largest market revenue during the forecast period. The unit load method is normally used in handling heavy loads in industries like food and beverage, automotive and heavy machinery. Large scale industries mainly use this type of carrier due to the increase in commoditization. These factors are driving the automated storage and retrieval system market.

By Function:

  • Assembly
  • Distribution
  • Kitting
  • Order Picking
  • Storage
  • Others

The storage segment is predicted to grow at a CAGR of 4.7 % during the forecast period. The factors such as reclaiming unused vertical spaces, enhancing inventory management, and maximizing storage capacities are driving the automated storage and retrieval system market. The system also helps in recording details like the quantity and location of products in large warehouses. Sectors like E-commerce and logistics & distribution need to store the products precisely and avoid any misplacement is further driving the market growth.

By Industry Vertical

  • Aviation
  • Automotive
  • Chemicals
  • Retail & E-Commerce
  • Food & Beverages
  • Healthcare & Pharmaceuticals
  • Metals & Heavy Machinery
  • Semiconductors & Electronics
  • Others

The Food & Beverage segment has the largest market revenue and CAGR growth of 9.5% during the forecast period. The government and exporting facilities have stringent rules and regulations for maintaining cleanliness &sanitation during the manufacturing and storage process. The food and beverage industry also has international regulations for less human intervention in the process. Thus, automation is widely used to store and ship products from production areas to distribution channels. These factors are driving the automated storage and retrieval system market in the period. Further significant growth is observed in the automotive segment owing to reduce excess expenditures and enhanced production logistics methods driving the market growth in the period.

Geographical Segmentation Analysis:

  • North America - the United States and Canada
  • Europe - United Kingdom, Spain, Germany, Italy, and France
  • The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
  • Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
  • The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

By Region Analysis:

The Asia-Pacific region is anticipated to register a healthy CAGR growth of 10.13% during the forecast period. The rise in industrial and infrastructural activity in Asian countries such as China, India, and Japan is driving the automated storage and retrieval market growth. The region is actively adopting automation in manufacturing and distribution facilities, which is further fuelling the market growth. Moreover, an increase in government investments to promote safer operations and reduce the risk of injuries is fuelling market growth in the Asia-Pacific region. Following a market growth of 5.50%, CAGR is registered by the European region. Several factors, such as modernization of infrastructure, government policies of industrial automation, and demand for warehouse maintaining technologies, are actively driving the market growth in the period.

Key Players in the Market:

Major Key Players in the Global Automated Storage and retrieval system Market are

  • 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
  • Viastore Systems

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FAQ's

What will be the automated storage and retrieval system market value by the end of 2028?

The automated storage and retrieval system market is expected to reach USD 10.72 billion by 2028.

Which segment has the dominant shares based on the region in the automated storage and retrieval system market?

The Asia-Pacific region has the largest share of the automated storage and retrieval system market.

Mention the key players in the automated storage and retrieval system market?

Beumer Group GmbH & Co. KG, Daifuku Co. Ltd., Dematic (Kion Group AG), Honeywell International Inc., Kardex Group, Murata Machinery Ltd., Schaefer Systems International Pvt Ltd, and Toyota Industries Corporation are the key players in the market.

What is the expected CAGR for the market?

The market is expected to register at a CAGR of 7.1 % during the forecast period 2023-2028.

What are the driving factors for the automated storage and retrieval system market?

An increase in industry adoption, better control over inventory, reclaiming unused vertical spaces, safer operations, and reduce labor costs and government investments are driving factors for market growth. 

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