Press release
Automated Storage and Retrieval System (ASRS) Market to Drive High Growth Driven by Increasing Adoption of Warehouse Automation and E-commerce Boom
Automated Storage and Retrieval System (ASRS) Market Size, Share
The size of Automated Storage and Retrieval System (ASRS) Market was estimated to be USD 8.38 billion in 2022. It is projected to exhibit a CAGR of 7.3% during the forecast period of 2023-2030, ultimately reaching USD 14.72 billion by 2030, as reported by SNS Insider.
An automated storage and retrieval system (ASRS) is a sophisticated technology used in warehouses, distribution centers, and manufacturing facilities to efficiently store and retrieve goods and materials. It is designed to automate the process of inventory management, allowing for greater accuracy, speed, and space optimization.
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Key Players Covered in Automated Storage and Retrieval System (ASRS) market report are:
Kardex,
SSI Schaefer,
TGW Logistics,
KUKA,
Knapp,
KION,
Daifuku,
Murata Machinery,
Vanderlande Industries,
Mecalux,
System Logistics Corporation,
Bastian Solution,
Dematic,
Swisslog Holding,
Beumer Group.
Market Analysis
The rapid growth of the e-commerce industry has been a significant driver for the automated storage and retrieval system (ASRS) market. With the exponential rise in online shopping, companies are facing the challenge of managing large volumes of inventory and fulfilling orders quickly. ASRS systems provide the necessary agility and scalability to handle the growing demands of e-commerce fulfillment, making them indispensable for businesses in this sector.
Impact of Recession
A recession can have varying effects on the automated storage and retrieval system (ASRS) market. While decreased capital expenditure and postponed projects may lead to a decline in demand, businesses that prioritize operational efficiency and long-term cost savings may still invest in ASRS solutions. Industry-specific factors and technological advancements can also influence the market dynamics during an economic downturn.
Segmentation Analysis
The automated storage and retrieval system (ASRS) market is undergoing a significant transformation, with the Unit Load segment and the E-commerce sector emerging as key drivers of its growth. ASRS technology in the Unit Load segment optimizes storage capacity and streamlines operations, while the E-commerce sector benefits from its ability to ensure quick and efficient order fulfillment. Technological advancements further propel the ASRS market forward, empowering businesses to meet the demands of a rapidly evolving industry.
Automated Storage and Retrieval System (ASRS) Market Segmentation as Follows:
BY TYPE
Unit Load
Mid Load
Mini Load
Carousel
VLM
BY INDUSTRY
Metals & Heavy Machinery
Semiconductor & Electronics
Food & Beverages
Chemicals
Automotive
Healthcare
Retail
Aviation
E-commerce
Others
Segmented by Region/Country:
North America
Europe
China
Japan
Asia Other
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Regional Status & Analysis
Europe's dominant position in the automated storage and retrieval system (ASRS) market is a result of its strong industrial base, advanced automation adoption, government support, and sustainability initiatives. As the demand for efficient and streamlined warehousing operations continues to rise globally, Europe is well-positioned to further expand its leadership in the ASRS market. With ongoing technological advancements and a collaborative ecosystem, European businesses are set to reap the benefits of ASRS and drive the next wave of innovation in the industry.
Conclusion
The market has a promising future with significant growth potential. Factors such as the increasing adoption of warehouse automation, the e-commerce boom, supply chain optimization needs, technological advancements, industry diversification, and sustainability focus are driving the demand for ASRS solutions.
Frequently Asked Questions about this Research Report
Q1. What is the projected outlook for automated storage and retrieval system (ASRS) market growth?
ANS: The market for automated storage and retrieval systems (ASRS) is projected to exceed USD 14.72 billion by the year 2030.
Q2. What are the major factors influencing the automated storage and retrieval system (ASRS) market?
ANS: As organizations prioritize sustainability initiatives, the demand for eco-friendly ASRS solutions is expected to rise.
Q3. Who are the leading players in the automated storage and retrieval system (ASRS) market?
ANS: Kardex, SSI Schaefer, TGW Logistics, KUKA, Knapp, KION, Daifuku, Murata Machinery, Vanderlande Industries, Mecalux, System Logistics Corporation, Bastian Solution, Dematic, Swisslog Holding, Beumer Group.
Table of Content - Analysis of Key Points
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 forces model
7. PEST Analysis
8. Automated Storage and Retrieval System (ASRS) Market Segmentation, By Type
9. Automated Storage and Retrieval System (ASRS) Market Segmentation, By Industry
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Conclusion
Continued…
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Contact Us:
Akash Anand - Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)
About Us:
SNS Insider has been a leader in data and analytics globally with its authentic consumer and market insights. The trust of our clients and business partners has always been at the center of who we are as a company. We are a business that leads the industry in innovation, and to support the success of our clients, our highly skilled engineers, consultants, and data scientists have consistently pushed the limits of the industry with innovative methodology and measuring technologies.
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