Automated Storage and Retrieval System Market Will Generate Record Revenue by 2029

Automated storage and retrieval systems (ASRS) are type of warehouse technology in which goods are automatically retrieved and returned to storage. This is typically achieved by combining the technology with Warehouse Execution Software (WES) that manages the process and assists warehouse staff while processing orders. Automated storage is used to increase the efficiency of the warehouse by maximizing available storage space in existing inventory. These systems automatically locate and deliver the goods to the required inventory through a conveyor system. This results in a reduction in labor cost, floor space and inventory levels while increasing accuracy and productivity compared to manual methods of storage. Typical applications for storage and retrieval system include storage, order picking, distribution, assembly, kitting and other. The market of ASRS is growing significantly, and the factors that drive this growth are increasing demand in the automotive industry and demand for automation in various industries. However, the growth of the market is restrained by some factors which include large initial capital investment and the lack of technical expertise. The global ASRS market is divided on the basis of type and industry. On the basis of type, the market is further divided into the unit load, mini load, vertical lift module, carousel, and autostore. Further, the market is segmented by industry which is sub-segmented into automotive, metals & heavy machinery, food & beverages, healthcare, retail, and others.

Retail industry uses ASRS to implement it in large megastores with a wide range of goods stored at a single location. Companies use this system to efficiently manage product storage and retrieval within minimum time. It also tracks product expiry dates and stocks in the store. With retailers increasingly focused on enhancing their customer's shopping experience, such technology has been progressing. The major players of the market are Swisslog, KION Group, Murata Machinery, TGW Logistics, Toyota Industries Corp., Daifuku Co., Ltd., Kardex Group, Honeywell International, Inc., Schaefer Systems International, Inc., and TGW Logistics Group. These companies are adopting various strategies to stay competitive in the market such as a merger & acquisition, and product launch. Merger and acquisition are considered as the key strategies in the market as many large players are acquiring small-medium scale companies in order to expand their market. For instance, in 2018, Horibe Machinery was acquired by the Murata Machinery, which would allow the company to enhance its product portfolio and also provide a unique production system solution to its customers.

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Market Coverage

Market number available for - 2022-2030
Base year- 2022
Forecast period- 2023-2030
Segment Covered- By Source, By Product Type, By Applications
Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
, and others
Automated Storage and Retrieval System Market - Segmentation

By Type
Unit Load
Mini Load
Vertical Lift Module
Carousel
Autostore
By Industry

Automobile
Metals & Heavy Machinery
Food & Beverages
Healthcare
Retail
Others
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Automated Storage and Retrieval System Market - by Region

North America

US
Canada
Europe

Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific

China
Japan
India
Rest of Asia-Pacific
Rest of the World

Middle East & Africa
Latin America
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