Global Automated Storage And Retrieval System Market Share, Analysis And Forecast To 2031

(MENAFN- Straits Research) Introduction

ASRS, automated storage, and retrieval systems are computer-controlled devices that store and retrieve items from stockrooms or assembly lines. These technologies, a type of warehouse automation, are designed to convey many goods into and out of storage. They are often utilized in manufacturing and distribution facilities due to their inventory/warehouse management precision, accuracy, and speed of inventory/warehouse management. They are administered via a workstation. These systems may manage a range of loading units, including pallets, containers, boxes, and others. Consequently, businesses utilize these robotic systems to automate processes such as unloading, sorting, putting away, storage, order selection, staging, and loading.

Market Dynamics Demand for ASRS in Aviation to Drive the Global Automated Storage and Retrieval System Market

The introduction of the 'Industry 4.0' revolution has resulted in advancements to manufacturing equipment and inventions such as automated storage and retrieval systems , which have aided in quickening the production of manufactured items within an industry. During such industrial revolutions, the manufacturing sector has dominated machine-made items due to its superior precision and substantial productivity gains. In addition, businesses have recognized the benefits of ASRS, notably in manufacturing, for operations such as production, distribution, and inventory management. The upgrading of industrial facilities has increased the demand for ASRS during the past decade.

Consumers' rising purchasing power has prompted many industries, including packaging and delivery, to utilize ASRS solutions more frequently. This is attributable to the increased production volume in the industrial sector. Using ASRS systems such as Shuttle- and Bot-based AS/RS and Carousel-based AS/RS (Vertical, Horizontal, and Robotic), for example, the effects of e-commerce and omnichannel delivery have been mitigated significantly. Heavy load shuttles linked to workstations to maximize floor space and accelerate delivery are two benefits that ASRS use has provided to this industry.

In recent years, manufacturing automation technology has expanded dramatically, and ASRS devices have become relatively popular in the manufacturing industry. In addition, there is a great need for mechanical systems that develop or manufacture things with the same degree of precision and quantity. ASRS is offered a wide variety of customization possibilities, which has an additional impact on market growth. Consequently, each ASRS supplier has unique customization that meets a market requirement.

Increased demand and elevated consumer expectations have prompted e-retailers to implement operational modifications for expedient order fulfillment and to preserve market competitiveness. This presents a considerable opportunity for the rapid adoption of automated equipment in the e-commerce industry. In addition, as the popularity of online and mobile shopping applications has reached its pinnacle and customers can purchase any product at any time, the e-commerce industry has been plagued by unpredictability in consumer demand. Due to fluctuating e-commerce demand, the advance pick zones are in a constant state of flux to accommodate variable item demand. This is an opportunity for the international market.

It is projected that the application of ASRS in e-commerce warehouses will expand due to omnichannel retailers' adoption of advanced technologies to predict the rate of change in stock-keeping units (SKUs). This is done to stay up with the frequent changes in order fulfillment. To get a single product, a worker must traverse the entire warehouse, which adds to the complexity of pick-up procedures and slows down the fulfillment process. This is a result of fluctuating SKU demand. In the retail industry, the market for ASRS systems is predicted to expand in the following years due to its capacity to optimize SKUs and improve the fulfillment process.

Regional Insights

The Asia Pacific is predicted to possess the predominant share while expanding at a CAGR of 10.13% during the forecast period. Asia-Pacific has significant growth potential due to rising industrial and infrastructure activities, particularly in China and India. As a result of various businesses investing heavily in automation solutions to preserve their competitiveness and reduce their operational costs, the Asia-Pacific market is growing.

The installation of automated systems has been steadily expanding in Asia-Pacific, ascribed to rising industrial activity, e-commerce trends, technological improvements, and a need for automation. The industry is expected to benefit from the increase in vehicle production in developing nations like China and India. Increased use of automated systems in the industrial sectors, improved and safer working conditions and technological advancements in robotic systems, wireless technologies, and driverless cars are all contributing to the need for ASRS in this region. As a result of the Indian government's significant emphasis on workplace safety and security, ASRS's growth in the manufacturing industry is growing.

Europe is predicted to have a share of USD 4,812 million, growing at a CAGR of 5.15%. Thanks to initiatives such as the European Technology Platform Manufuture, numerous European industries have developed and implemented research- and innovation-based strategies capable of accelerating the rate of industrial transformation to value-added products, processes, and services and securing high-skilled employment in the coming years of the knowledge-based economy. Europe is home to the bulk of automated storage and retrieval systems with global operations.

Due to the rise of the European vehicle industry and government regulations mandating hygiene and sanitation in the food and beverage industry, automated systems are being deployed. Leading firms such as Kion Group AG, Kuka AG, and others are developing automated guided vehicles with increased load capacities, safety, and space efficiency. Expansion of the e-commerce industry, modernization of infrastructure, and development of industrial facilities are all projected to contribute to the anticipated moderate growth of the automated storage and retrieval systems market in the coming years. The recent popularity of e-commerce has led to a boom in demand for these technologies in warehouse automation. However, it is projected that the increasing usage of robotic systems in Europe will create future profit opportunities.

Key Highlights

• The global automated storage and retrieval system market had a revenue holding of USD 8,573 million in 2021. It is expected to reach USD 16,313 million by 2030, growing at a CAGR of 7.41% during the forecast period (2022-2030).
• Based on the type , the unit load section is predicted to have the most significant revenue holding and grow at a CAGR of 5.2%.
• Based on the function , the storage section is predicted to have the highest shareholding and grow at a CAGR of 4.7%.
• Based on the industry vertical, the food & beverage section is predicted to have the largest market share, growing at a CAGR of 9.5%.
• Based on regional analysis , the Asia Pacific is predicted to hold the predominant share during the forecast period while expanding at a CAGR of 10.13%.