Automated Storage & Retrieval System (ASRS) Market Size is Estimated to grow at a CAGR of 7.5% during the forecast period

 The Automated Storage & Retrieval System (ASRS) market was estimated to be worth USD 7.1 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2034, when it is expected to reach USD 18.6 billion. The automated storage and retrieval system (ASRS) improves operational efficiency by lowering labor expenses and reducing human error. The market is developing and sustainable since it is associated with a variety of sectors.

Computer- and robot-assisted systems that are able to retrieve objects or store them in designated areas are called automated storage and retrieval systems, or AS/RS. Typically, the system consists of pre-established places from which machines can retrieve objects by following pre-established paths. They comprise a variety of technologies, such as vertical lifts, carousel-based lifts, shuttle and crane-based lifts, load-based ASRS lifts, and others.

 

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GROWTH DRIVERS

The need for effective and scalable storage solutions, such as ASRS, is being driven by the e-commerce industry's explosive growth. These solutions are necessary to manage large inventory volumes and guarantee quick order fulfillment. Shopify projects that worldwide e-commerce sales will reach USD 6.33 trillion by 2024. It is anticipated that this figure will rise over the following years, demonstrating the increased profitability of the e-commerce business model for enterprises. The figure for 2024 also represents an 8.8% yearly rise, which is the third-fastest global growth rate for e-commerce sales over the 2021–2027 projected period.

By reducing the need for manual labor, the ASRS systems increase operating efficiency and result in significant cost savings. The labor reductions are the clear benefit of automated storage and retrieval systems, according to Kardex. By using the "goods to person" approach, ASRS devices provide the necessary item straight to the operator, significantly cutting down on operator walk and search time. During a shift, employees frequently travel long distances (check your walking timings with a pedometer); this results in lost time due to walking.

MARKET SEGMENTATION:

·         By Type- Load Based ASRS (Unit Load and Mini Load), Vertical Lift, Carousel Based (Horizontal and Vertical), Shuttle and Crane Based and others 

·         By Sales and Distribution- Direct Sales, Distributors, Online Sales

·         By Industry Verticals- Automotive, Food and Beverages, Retail and E-commerce, Healthcare, Aerospace, Manufacturing, Logistics and Warehousing, Electronics and others

·         By Region- North America, Europe, Asia Pacific, Middle East and Africa, South America

Global Key Players:

·         Daifuku

·         Kardex Group

·         Dematic Group

·         Mecalux

·         Bastain Solution

·         KUKA

·         Honeywell International

·         Toyota Industries

·         Swisslog Holdings

·         Exotec

·         SSI Schaffer

·         Murata Machinery

·         Other Players

 

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