Automated Storage And Retrieval System Market is Booming with Demand for Flexible and Scalable Supply Chain Solutions

 

Automated Storage And Retrieval System Market 

The Automated Storage And Retrieval System market is experiencing significant growth driven by increasing demand for flexible, scalable and efficient supply chain solutions across industries. Automated Storage and Retrieval Systems (ASRS) are computer-controlled systems for automatically placing and retrieving loads from defined storage locations. They integrate robots, software, and conveyor systems to efficiently store and retrieve goods without human interventions, thereby improving warehouse productivities. An ASRS allows vertical stacking of loads across multiple levels, maximizing the storage density and minimizing footprints.

The Global Automated Storage and Retrieval System Market is estimated to be valued at US$ 11328.29 Bn in 2024 and is expected to exhibit a CAGR of 22% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the Automated Storage and Retrieval System are Murata Machinery, Ltd., Honeywell Intelligrated, Bastian Solutions, Inc., Dematic, TGW Logistics Group, Daifuku Co., Ltd., KNAPP AG, Beumer Group, SSI Schaefer Group, and Kardex Group. These players are focusing on developing autonomous and interconnected ASRS solutions integrated with Industrial IoT and machine learning to deliver higher efficiencies and uninterrupted operations.
The growing demand for automated warehouses and increasing labor costs are driving significant growth in the adoption of ASRS across industries. ASRS helps companies reduce manual handling, improve productivity, and optimize inventory management.
Significant investments by major companies in expanding their global footprint through partnerships and acquisitions will further accelerate the automated storage and retrieval system market growth. For instance, Daifuku partnered with Kion to strengthen its presence in Europe while Dematic acquired robotics company, Scallog.

Market key trends
One of the key trends gaining traction in the Automated Storage And Retrieval System Market Demand is growing demand for goods-to-person picking systems. Goods-to-person picking involves bringing the storage racks orshelves to an operator rather than the operator traveling through aisles to pick products. It significantly reduces walking distances and improves productivity. Growing focus on picking accuracy and minimal errors is also driving the adoption of vision-guided ASRS integrated with AI and machine learning.

Porter’s Analysis

Threat of new entrants: Automated storage and retrieval system require high initial capital investments which act as barriers for new companies.

Bargaining power of buyers: Large buyers in industries like e-commerce, third-party logistics can negotiate for better prices and terms due to their high volumes.

Bargaining power of suppliers: The presence of several automated storage and retrieval system manufacturers leaves buyers with sufficient options and keeps supplier power in check.

Threat of new substitutes: There are limited product substitutes for automated storage and retrieval system as they provide efficiency and space optimization benefits over traditional warehouse storage systems.

Competitive rivalry: Established global players compete intensely on technology, features, and pricing resulting in additional benefits for customers.

Geographical Regions

North America accounts for the largest share of the global automated storage and retrieval system market in terms of value led by countries like the US and Canada. This is attributed to substantial warehousing and logistics operations across industries including e-commerce, retail and manufacturing.

Asia Pacific registers the fastest growth and is expected to lead the market over the forecast period. Countries such as China, India, Japan and South Korea are major contributors to demand as they experience rapid industrialization, expansion of manufacturing facilities and emergence of mega distribution centres. Evolving warehousing infrastructure and adoption of automation benefit market prospects.

Automated storage and retrieval system provide efficient space utilization for storage and movement of unit loads. A versatile solution, they optimize inventory and order fulfillment operations across diverse industrial verticals like electronics, automotive, food and beverage and pharmaceuticals.

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About Author:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)