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Automated Storage and Retrieval System (ASRS) Market is Ready to Grow to US$ 20,241.30 Million by 2034 With a Projected CAGR of 8.7%
Automated Storage and Retrieval System (ASRS) Market
What is Automated Storage and Retrieval System (ASRS)?
An automated storage and retrieval system (ASRS) is a modern computer-regulated and robot-helped framework that mechanizes the repository and handling of inventory within a warehouse or other commercial space. It supports an entourage of hardware and software technologies involving warehouse execution system (WES) software, structural hardware, and robotics to mechanize managing, item repository, and regeneration procedures within a much smaller storage space.
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As ASRS speeds up the procedure of initiating inventory into storage. This may include human decant or may be entirely mechanized. Commodities may be decanted into distinct items or may be reserved in pallets or cases. Once inducted, commodities may be conveyed by robots, robotic arms, or transporters into storage.
Key Companies:
The aggressive topography of the market is marked by the existence of global leaders and local contenders struggling for market supremacy through innovation, strategic collaborations, and regional expansion. Prominent players leading the market are:
• Beumer Group
• Daifuku
• Honeywell International, Inc.
• Kardex.
• KNAPP
• Mecalux
• Murata Machinery, Ltd
• SSI Schaefer
• Swisslog
• System Logistics
• TGW Logistics Group
• Toyota Material Handling
• UNARCO Material Handling, Inc
• Vanderlande
• Witron
What are Driving Factors of Market?
Businesses are growingly acquiring ASRS to improve operational productivity, sanctioning speedy and precise order realization. Firms speed up conveyance with automation, decreasing reclamation time, enhancing customer contentment, and supporting brand loyalty. Further, ASRS maximizes warehouse space by using vertical storage, productively decreasing real estate prices and optimizing potential spiraling up the automated storage and retrieval system (ASRS) market trends.
The growing demand for automated storage and retrieval systems (ASRS) is extensively pushed by the requirement for superior space maximization in warehouses, especially in urban ambiances where space is restricted. Conventional storage systems fall short of utilizing vertical space productively, whereas ASRS optimizes the repository by using high ceilings and small configurations.
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Recent Developments in the Automated Storage and Retrieval System (ASRS) Industry
• May 2023: BEUMER Group GmbH & Co. KG acquired Hendrik Group Inc., a well-known company specializing in air-supported belt conveyors. This acquisition expands BEUMER Group's portfolio in bulk material transport, enhancing its capabilities in the industry.
• May 2023: SSI SCHAEFER introduced the SSI Piece Picking application, a fully automated and innovative system for piece picking. Powered by intelligent software, the system includes advanced features such as pick-and-place functionality, object recognition, patented gripping point determination, and gentle product handling through ASRS technology, ensuring efficient and accurate piece picking.
• February 2023: Murata Machinery USA, Inc. launched the latest addition to Muratec's automated material management solutions, specifically designed for small product storage and retrieval.
Market Segmentation:
The automated storage and retrieval system (ASRS) market segmentation is based on type, industry, and region.
Based on type, the unit load segment garnered a massive share due to its capacity to manage bulky items productively. Growing demand for automation in warehouses propelled by labor scarcity and the requirement for functional efficiency has fuelled the acquisition of unit load ASRS.
Based on industry, the e-commerce segment is expected to register a high CAGR due to the growing inclination for online shopping and the growing demand for productive logistics.
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By Regional Outlook (Revenue, USD Million, 2020-2034)
• North America
o US
o Canada
• Europe
o Germany
o France
o UK
o Italy
o Spain
o Netherlands
o Russia
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Malaysia
o South Korea
o Indonesia
o Australia
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Israel
o South Africa
o Rest of Middle East & Africa
• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America
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