by Automated storage and retrieval systems (AS/RS) are computer-controlled systems used for automatically placing and retrieving loads from defined storage locations. AS/RS supports greater throughput and faster inventory turns compared to manual warehouses. The systems leverage various hardware and software components to achieve automatic high-density storage and retrieval. AS/RS provides optimized storage capacity and improves productivity and efficiency as compared to conventional manual storage facilities. Growing e-commerce industry coupled with increasing need for efficient warehouse management is driving the demand for automated storage and retrieval systems.
The global Automated Storage and Retrieval System Market is estimated to be valued at US$ 10 Billion in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
The global Automated Storage and Retrieval System Market is driven by innovation in storage management solutions. Growing focus on developing intelligent warehouse management solutions is expected to positively influence the market growth over the forecast period. Growing need for efficient warehousing procedures in industries such as automotive, manufacturing, and e-commerce is augmenting the demand for automated storage and retrieval systems. Additionally, the ability of AS/RS to retrieve items in a fraction of time compared to conventional systems is propelling their adoption across industries.
Segment Analysis
The global automated storage and retrieval system market is segmented into storage type, load capacity, lift height and end use. The carousel segment dominates the market and accounted for over 40% share in 2021. Carousels provide high storage density and offer flexibility of storing and retrieving items at a fast pace meeting the ongoing demand from e-commerce and third party logistic sectors.
PEST Analysis
Political: Growth in trade and industrialization in emerging countries offer opportunities for market growth. Stringent regulations regarding safety and emissions may increase setup costs.
Economical: Cost benefits of automation and growth of e-commerce & logistics industries drives demand. Initial high capital costs and upgrades pose challenges for SMEs.
Social: Increasing consumer demand for fast order processing and delivery favors adoption. Labor shortage in warehousing creates demand for automation.
Technological: Advanced technologies like AI, IoT, robotics integration improves efficiency. Interoperability issues exist with legacy equipment requiring replacements or upgrades.
Key Takeaways
The global Automated Storage And Retrieval System Market Demand is expected to witness high growth over the forecast period.
Regional analysis: Asia Pacific region accounted for over 40% market share in 2021 led by China, Japan and India. Rapid growth of e-commerce led logistics and tight labor markets are major growth drivers in the region. Government initiatives to promote industrial automation and `Make in India` further accelerates the growth. Large multinational companies are establishing R&D centers and manufacturing facilities in the region.
Key players operating in the automated storage and retrieval system market are Daifuku, Murata Machinery, SSI Schaefer, TGW Logistics, Kardex, KION, Knapp, Mecalux, Vanderlande, System Logistics, and Beaver Group. Daifuku led the market with over 17% share in 2021 owing to its strong product portfolio and global presence especially in the APAC region. SSI Schaefer focuses on customized solutions for mid-sized customers while Murata and TGW logistics dominate the Japanese market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
