Automated Storage and Retrieval Systems (ASRS) are equipment solutions designed to store and retrieve goods efficiently with minimal human intervention. ASRS increase storage density and optimize inventory management by using intelligent control systems and automated vehicles to handle palletized or non-pallet loads with great accuracy. These systems help organizations cut down on labor costs and bring greater operational efficiency by reducing order fulfillment time.
The global Automated Storage and Retrieval System Market is estimated to be valued at US$ 15 Billion in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rapid growth of the e-commerce industry is a key driver boosting adoption of Automated Storage and Retrieval Systems. E-commerce warehouses require versatile storage systems to efficiently process high volumes of orders while minimizing costs. ASRS provide greater density, faster retrieval and order fulfillment times compared to conventional storage racks. This enables e-commerce companies to optimize inventory management and meet stringent customer delivery commitments. Growing automation in warehouses to minimize dependency on human labor and rising need for optimal space utilization at distribution centers are other factors accelerating growth of the automated storage and retrieval system market.
Segment Analysis
The global automated storage and retrieval system market is dominated by unit-load AS/RS segment. In unit-load AS/RS systems, storage and retrieval operations are performed using large trays, totes or bins to handle multiple items at once. They offer benefits such as high storage density, minimal human interference and improved productivity compared to conventional warehousing systems. Other segments include miniature-load AS/RS and vertical lift modules. Miniature-load systems utilize smaller trays and bins to store lighter items. Vertical lift modules segment is expected to witness faster growth with increasing application in general merchandise warehouses.
Key Takeaways
The Global Automated Storage And Retrieval System Market Size is expected to witness high growth.
Regional analysis: The Europe automated storage and retrieval system market holds the largest share currently and is expected to maintain its dominance during the forecast period. This can be attributed to early adoption of automation technologies and presence of major players in European countries like Germany, UK, France and Italy. The Asia Pacific region is projected to witness the fastest growth owing to rapid industrialization, growing e-commerce industry and rising labor costs in emerging economies of China and India.
Key players operating in the automated storage and retrieval system market are Daifuku Co., Ltd., SSI Schaefer Group, Murata Machinery, Ltd., Knapp AG, TGW Logistics Group GmbH, Kardex Group, Swisslog Holding AG, Mecalux SA, Vanderlande Industries, System Logistics Spa, and Bastian Solutions, Inc.
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