Pune, India, July 12, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published the latest research study on "Automated Storage and Retrieval Systems Market Size Report, Industry Growth, and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, End User Industry, and Geography,” the market is projected to grow from US$ 2.72 Billion in 2022 to US$ 4.68 Billion by 2028; it is estimated to record a CAGR of 7.0% from 2022 to 2028.
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Global Automated Storage and Retrieval Systems Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | US$ 2.72 Billion in 2022 |
| Market Size Value by | US$ 4.68 Billion by 2028 |
| Growth rate | CAGR of 7.0 % from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 175 |
| No. of Tables | 107 |
| No. of Charts & Figures | 81 |
| Historical data available | Yes |
| Segments covered | Type, End User Industry |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | Bastian Solutions, Inc., Daifuku Co., Ltd., KION GROUP AG, Kardex Group, Knapp AG, Mecalux, S.A., SSI Schaefer Group, Swisslog Holding AG, System Logistics Spa, Vanderlande Industries |
Browse key market insights spread across 175 pages with 107 list of tables & 81 list of figures from the report, "Automated Storage and Retrieval Systems (ASRS) Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Unit Load ASRS, Mini Load ASRS, Vertical Lift Module, Vertical Carousels, Horizontal Carousels, AutoStore, and Others) and End-User Industry (Automotive, Food & Beverages, Electronic & Semiconductors, E-Commerce, Chemicals, Aerospace, Retail, Pharmaceuticals, and Others)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/automated-storage-and-retrieval-system-market
The development of the e-commerce industry goes hand-in-hand with the growth of the automated storage industry. Inventory sold by e-commerce sellers is stored in warehouses, and to reduce the time for sorting and stocking these products, ASRS seems to be one of the best tools. The purchasing pattern of consumers is moving toward online shopping. This is contributing to the growing sales of the e-commerce industry, which fuels the rising demand for ASRS in the e-commerce industry. Further, customers expect faster delivery time, owing to which e-commerce players are adopting automation in their processes. The fluctuations in demand for stock-keeping units (SKUs) create complexities in picking operations, which in turn, slows down the fulfillment process. Along with managing SKU demand fluctuations, an ASRS also advances the fulfillment process, thus, allowing e-commerce as well as omnichannel retailers to adhere better to service level agreements by fulfilling order delivery commitments. Thus, increasing demand for automation in the e-commerce industry is expected to provide lucrative opportunities for automated storage and retrieval systems (ASRS) market growth during the forecast period.
Global Automated Storage and Retrieval Systems (ASRS) Market: Industry Overview
The automated storage and retrieval systems (ASRS) market is segmented on the basis of type, end-user industry, and geography. Based on type, the automated storage and retrieval systems (ASRS) market is segmented into unit load ASRS, mini-load ASRS, vertical lift module, vertical carousels, horizontal carousels, auto store, and others. Based on the end-user industry, the automated storage and retrieval systems (ASRS) market is segmented into automotive, food & beverages, electronic & semiconductors, e-commerce, chemicals, aerospace, retail, pharmaceuticals, and others. By geography, the automated storage and retrieval systems (ASRS) market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
The automated storage and retrieval systems (ASRS) market in Asia Pacific is projected to witness significant growth from 2022 to 2028. Based on country, the APAC automated storage and retrieval systems (ASRS) market is segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC. Countries such as Japan, India, China, Australia, Singapore, Taiwan, and Indonesia have a plethora of manufacturing industries pertaining to a diverse sector that includes electronics, food & beverage, chemicals, textile, automobiles, and healthcare. The manufacturing industry in the countries of Asia Pacific has experienced a huge shift over the years.
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The Asian manufacturing sector is known to rapidly adopt innovation accelerators that include robotics along with the emerging cloud and mobility technologies. For instance, according to The Economics Times in December 2022, India is expected to add 30 million square feet space for building new warehouses. This demand of extra additional space for warehousing is due to growing manufacturing sector and e-commerce activities. Over the years, the manufacturing spending of the region has grown significantly and is further anticipated to grow at the highest estimated growth rate which can contributes to the adoption of ASRS. All these factors fuel the automated storage and retrieval systems (ASRS) market growth in Asia Pacific.
Global Automated Storage and Retrieval Systems (ASRS) Market: Competitive Landscape and Key Developments
Bastian Solutions, Inc.; Daifuku Co., Ltd.; KION GROUP AG; Kardex Group; Knapp AG; Mecalux, S.A.; SSI Schaefer Group; Swisslog Holding AG; System Logistics Spa; and Vanderlande Industries are among the leading players profiled in the automated storage and retrieval systems (ASRS) market report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their business expansion. A few developments are mentioned below:
In July 2022, SSI SCHAEFER announced that it had installed a new shuttle system at a customer site in India. It an automated storage and retrieval system that uses shuttles to transport goods within a high-density storage system, improving storage capacity and order-picking speed.
In December 2022, Swisslog, a global provider of automated logistics solutions, partnered with Bring, a third-party logistics provider in Norway, to provide an AutoStore solution for their operations.
The AutoStore system is a compact and flexible automated storage and retrieval system well-suited for e-commerce operations. In the first phase of the cooperation, Swisslog delivered an AutoStore solution, including a buffer area, and its SynQ software to digitalize Bring's business processes further. The cooperation was expected to improve Bring's logistics operations, allowing the company to meet the increasing demands from the e-commerce market.
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