Automated Storage and Retrieval System Market: Present Scenario and the Growth Prospects with Forecast 2023

Automated storage and retrieval systems (AS/RS) are the inventory management systems that are generally used in manufacturing centers, distribution facilities, and warehouses throughout the world. AS/RS systems consist of machines that move one or multiple parallel storage aisles in upward and downward direction, storing as well as retrieving materials for distribution to either internal or external destinations.

There are many advantages of these systems. They enable the users with increased inventory control as well as tracking, including better flexibility to bear changing business conditions. AS/RS systems consist of modular subsystems that are easily replaceable to extend the service life of the overall system.

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Further, they reduce labor costs, reducing workforce requirements, increasing safety, and removing personnel from extreme working conditions such as cold storage environments. Most significantly, AS/RS systems can create major savings in inventory storage costs providing improved utilization of vertical and horizontal warehouse space generating large storage density.

The high-density automated shelving systems store the barcoded items by size in the bins. This technology of high-density automated shelving systems has been used across different other industries from several years. This has given rise to enterprises that develop solutions to help their customers in meeting the goals like simplification of different business processes, productivity enhancement and better output along with reduction in costs. Automated material handling is considered to be one such technology which has developed the ways various industries operate.

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The global AS/RS market is segmented based on the function that includes assembly, kitting, order picking, distribution, and storage. On the basis of type segment, the market is sub divided into unit load, mini load, carousel and shuttle. As the mass consumption of goods keeps on growing in the world economy, companies have started realizing the significance of implementing advanced technology and automated solutions to meet the customer’s demands.

Organizations are coming in contact with the providers who can help them to transition from a traditionally operated facility to an automated one, which could yield more revenues. The major factors that drive the growth of AS/RS market are the need of optimum utilization of space as well as labor due to the deployment of latest technologies. Improved efficiency and productivity requirement in the supply chain process and the growth of automation in material handling in industries are also providing momentum to growth of AS/RS market.

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The major restraints for the growth of AS/RS market are the requirement for large capital investments and frequent technical faults. Major opportunity for ASRS market is the emergence of new technologies such as mid load and shuttles which are expected to boost the AS/RS market in the future. The rising awareness of inventory control as well as automation of the storage systems with the help of advanced technologies is also anticipated to fuel the market growth.

Some of the key players in the AS/RS market are Kardex Group, Daifuku Co. Ltd., Vanderlande Industries B.V., Murata Machinery, Ltd., Swisslog Holding AG., Dematic GmbH & Co. Kg, BEUMER Group GmbH & Co. KG, Bastian Solutions, LLC, and SSI Schaefer Group.

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