Revolutionizing Warehousing: How the Global Automated Storage & Retrieval System Market is Changing the Game

Global Automated Storage & Retrieval System Market Size, Share, and COVID-19 Impact Analysis, By Application (Storage, Order Picking, Kitting, Buffering, and Others), By End-Use (Automotive, Semiconductor & Electronics, General Manufacturing, Retail, Aviation & Chemicals, Rubber & Plastics, Healthcare, Food & Beverage, and Postal & Parcel), By Type (Vertical Lift Modules, Carousels, Crane-Based, Vertical Buffer Modules, Robotic Shuttles, and Floor Robots), By Load (Unit Load, Mid Load, VLM, Carousel, and Mini Load), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032.

 

Global Automated Storage & Retrieval System Market Size Insights Forecasts to 2032

• The Global Automated Storage & Retrieval System Market Size was valued at USD 8.19 billion in 2022.
• The Market is growing at a CAGR of 7.2% from 2023 to 2032
• The Global Automated Storage & Retrieval System Market Size is expected to reach USD 16.4 billion by 2032
• Asia-Pacific is expected to grow significant during the forecast period

 

The Global Automated Storage & Retrieval System Market Size is expected to reach USD 16.4 billion by 2032, at a CAGR of 7.2% during the forecast period 2023 to 2032.

 

Market Overview

Automated Storage and Retrieval System (AS/RS) is a sophisticated technology used in modern warehousing and distribution operations. It combines advanced hardware and software components to automate the storage and retrieval of goods, optimizing efficiency and accuracy. AS/RS typically consists of high-rise racks, stacker cranes, conveyors, and robotic systems controlled by a central computer. The system uses barcode or RFID technology to track inventory and retrieve items with precision. AS/RS offers numerous benefits, including increased storage capacity, faster order fulfillment, reduced labor costs, improved inventory control, and enhanced safety. By minimizing manual handling and maximizing space utilization, AS/RS streamlines warehouse operations and improves overall productivity. It is widely adopted across industries with high-volume storage and retrieval requirements, such as e-commerce, manufacturing, and logistics.

 

Report Coverage

This research report categorizes the market for automated storage & retrieval system market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the automated storage & retrieval system market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the automated storage & retrieval system market.

 

Driving Factors

The automated storage and retrieval system (AS/RS) market is driven by several factors that contribute to its growth and adoption, such as the need for efficient warehouse management solutions is a key driver. AS/RS enables companies to maximize storage capacity, minimize errors, and enhance inventory control, thereby improving overall operational efficiency. The rising demand for e-commerce and omnichannel retailing requires fast and accurate order fulfillment, which AS/RS facilitates through its automated processes. The labor cost reduction is a significant driver as AS/RS minimizes the need for manual labor, leading to cost savings and increased productivity. Additionally, the increasing focus on workplace safety and reducing injuries associated with manual material handling drives the adoption of AS/RS. Overall, advancements in technology, such as robotics, artificial intelligence, and data analytics, are driving the development of more sophisticated and efficient AS/RS systems, further fueling market growth.

 

Restraining Factors

While the automated storage and retrieval system (AS/RS) market has witnessed significant growth, it also faces certain restraints, because the high initial investment cost of implementing AS/RS can be a deterrent for some organizations, particularly small and medium-sized enterprises. The retrofitting of existing warehouses with AS/RS systems can be complex and time-consuming, leading to disruptions in operations during the installation phase. The dependency on advanced technology and software for AS/RS operation increases the risk of system failures or technical glitches, which can impact productivity. Additionally, the lack of skilled personnel to operate and maintain AS/RS systems is a challenge. Overall, regulatory constraints and compliance requirements in certain industries may limit the adoption of AS/RS technology.

 

Market Segmentation

• In 2022, the crane-based segment accounted for around 40.2% market share

On the basis of the type, the global automated storage & retrieval system market is segmented into vertical lift modules, carousels, crane-based, vertical buffer modules, robotic shuttles, and floor robots. The crane-based segment holds the largest market share in the automated storage and retrieval system (AS/RS) market due to several reasons, such as the crane-based systems offer high flexibility and scalability, making them suitable for various industries and applications. They can handle a wide range of load capacities and heights, accommodating diverse storage requirements. The crane-based AS/RS systems provide efficient vertical storage and retrieval capabilities, maximizing space utilization in warehouses. Their ability to stack and retrieve goods at different levels enables optimal storage density. The crane-based AS/RS systems offer fast and precise movement of goods, enhancing overall operational efficiency. Their advanced control systems and intelligent software enable accurate positioning and retrieval of items, reducing errors and downtime. Additionally, crane-based AS/RS systems can be seamlessly integrated with other warehouse automation technologies, such as conveyors and robotics, enabling comprehensive material handling solutions.

 

• In 2022, the automotive segment dominated with more than 21.5% market share

Based on the end-use, the global automated storage & retrieval system market is segmented into automotive, semiconductor & electronics, general manufacturing, retail, aviation & chemicals, rubber & plastics, healthcare, food & beverage, and postal & parcel. The automotive segment has emerged as a key driver and the largest market share holder in the automated storage and retrieval system (AS/RS) market. The automotive industry is characterized by high-volume production, complex supply chains, and a need for efficient inventory management. AS/RS systems offer advanced storage and retrieval capabilities, optimizing space utilization, and streamlining the movement of automotive components and parts. AS/RS technology improves operational efficiency, reducing lead times, and ensuring just-in-time delivery, which is crucial in the automotive sector. The AS/RS systems enhance inventory accuracy, minimizing errors and discrepancies in tracking automotive components. Moreover, the automotive industry is increasingly adopting automation and robotics to improve productivity and reduce labor costs. AS/RS plays a vital role in automating warehousing operations, enabling seamless integration with other manufacturing processes. Therefore, the automotive segment's reliance on AS/RS technology drives its market dominance and largest market share in the AS/RS industry.

 

Regional Segment Analysis of the Automated Storage & Retrieval System Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

 

Recent Developments

• In September 2022, Mitsubishi LogisnextAsia Pacific Pte Ltd collaborated with xSQUARE, a Singapore-based intelligent warehouse solution provider, to meet the rising need for warehousing solutions. By creating a new line of Automated Guided Vehicles (AGV) based on Logisnext's forklifts, the firms will deliver solutions to solve labour shortages while enhancing warehouse productivity and operating efficiency.

 

• In August 2022, Maersk announced the successful acquisition of LF Logistics, a contract logistics company located in Hong Kong, for USD 3.6 billion. Maersk's portfolio will be expanded by 223 warehouses following the acquisition, bringing the total facilities spread across 9.5 million square metres to 549.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global automated storage & retrieval system market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Companies:

• TGW Logistics Group GmbH
• Swisslog Holding AG
• Daifuku Co. Ltd.
• SSI Schaefer Group
• Murata Machinery
• Knapp AG
• Mecalux SA
• Vanderlande Industries
• System Logistics Corporation
• Bastian Solution
• Beumer Group
• Dematic GmbH & Co. KG
• Kardex Group

 

Key Target Audience

• Market Players
• Investors
• End-Users
• Government Authorities 
• Consulting and Research Firm
• Venture Capitalists
• Value-Added Resellers (VARs)

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global automated storage & retrieval system market based on the below-mentioned segments:

 

Automated Storage & Retrieval System Market, By Application

• Storage
• Order Picking
• Kitting
• Buffering
• Others

 

Automated Storage & Retrieval System Market, By End-Use

• Automotive
• Semiconductor & Electronics
• General Manufacturing
• Retail
• Aviation & Chemicals
• Rubber & Plastics
• Healthcare
• Food & Beverage
• Postal & Parcel

 

Automated Storage & Retrieval System Market, By Type

• Vertical Lift Modules
• Carousels
• Crane-Based
• Vertical Buffer Modules
• Robotic Shuttles
• Floor Robots

 

Automated Storage & Retrieval System Market, By Load

• Unit Load
• Mid Load
• VLM
• Carousel
• Mini Load