Automated Storage And Retrieval Systems Market
Automated Storage and Retrieval Systems Market Forecasts to 2028 - Global Analysis By Type (Autostore, Floor Robots, Vertical Lift Module, Vertical Buffer Modules, Robotic Shuttles, Carousels, Mid Load, Mini Load, Unit Load, Micro-Load and Other Types), Equipment (Rack Structure, Conveyor Interface, Warehouse Control System, Retrieval Machines and Other Equipments, Application, End User and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $8.3 BN |
|
Projected Year Value (2028) |
US $14.2 BN |
|
CAGR (2022 - 2028) |
9.3% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Automated Storage and Retrieval Systems Market is accounted for $8.3 billion in 2022 and is expected to reach $14.2 billion by 2028 growing at a CAGR of 9.3% during the forecast period. Automated storage and retrieval systems (ASRS) are a major part of many warehouse automation systems that have the ability to sort, sequence, buffer, and store a wide range of goods into virtually unlimited destinations. It mainly comprises of storage and retrieval machines, rack structure, conveyor interface, and warehouse control system. It has a wide range of applications in warehouses and distribution centers such as finished goods storage, goods to person picking, order fulfillment and many more.
According to researchers, approximately two-thirds of US companies operating in China expect lower growth due to a labor shortage. As a result of the disruption, countries like India are experiencing a shortage of essential electronic goods and components.
Market Dynamics:
Driver:
Retail supply-chain multichannel approach
Major changes in the retail distribution centers have been made as a result of the expansion of the retail sector, which was made possible by the outburst in electronic commerce. These include mass personalization and augmented customer service demands, both of which have caused the number of stock keeping units to increase exponentially. The industry will experience enlarged demand for goods as the world economy improves. In order to maintain a balance between supply and demand, new automation technologies will need to be properly integrated, which will be significant for the growth of the market.
Restraint:
High Cost of Initial Investment
The expenses connected with consulting, implementing, and maintaining the machinery and technology are the fundamental cost-contributing elements of solution. The majority of this software offers simple inventory management controls. For more multifaceted operations, it can be integrated with an existing warehouse management system which increases software costs and make difficult the integration process while adding to installation time. High and complex costs involved in integrating new technology are the factors restraining the market growth.
Opportunity:
Automated material handling systems
Automated Storage & Retrieval Systems often have substantial installation, training, and servicing expenses during their first phases. The growing support for equipment leasing has made it possible for operators to obtain these systems in new ways. The distribution centers benefit from these systems efficiency, quality control, and decreased operating costs by leasing the equipment, while also seeing an instant return on their investment. Therefore, the market will experience an augment in demand as the leasing of equipment in the sectors becomes more accessible.
Threat:
Technical faults
Automated storage and retrieval systems is a complex system operating in organization with many sensors, motors, and equipment guided by programming software. Any technical problem related to sensing element may stop the progress of an entire operational process, which leads to excess time and cost to the company. Any error in the software programming will also lead to improper performance, thereby interrupting the entire production process. Therefore, system failures adversely affect the process and result in diminishing profits, which hinders the market growth.
Covid-19 Impact
The COVID-19 pandemic created several challenges for the automated storage and retrieval systems market due to the lockdowns imposed. The pandemic impacted manufacturing and distribution operations across various industries. Social distancing has become the new norm and is expected to have long-term effects on several sectors, including manufacturing, distribution, logistics, and supply chain. The outbreak of COVID-19 disrupted the healthcare supply chain and, at the same time, proved to be a catalyst for driving changes in the circulation of healthcare products, in turn minimizing the impact of future disruptions and accelerating healthcare operations effectively.
The vertical lift module segment is expected to be the largest during the forecast period
The vertical lift module segment is estimated to have a lucrative growth, due to the increasing demand for storage and picking applications in the retail industry, the rising need for increased storage capacities, growing demand for effective inventory management, and increasing deployments by leading players. They are the next generation automated systems mainly used in industrial applications for sorting, storage and retrieval of items for an operation in a warehouse. Thus, these are the factors expanding the growth of the segment.
The storage segment is expected to have the highest CAGR during the forecast period
The storage segment is anticipated to witness the fastest CAGR growth during the forecast period, due to growing demand for innovative storage systems, and the increasing need to reduce damage to goods and industrial accidents. Several businesses integrate automated hardware and software into their storage systems for precise selection and refilling. Also, the rising demand for automated cold chain storage for critical healthcare products is further expected to support the rapid growth of this segment during the forecast period.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the adoption of automation in manufacturing. The market is increasing due to numerous industries spending extensively on automation solutions to maintain their competitiveness and lower operating costs. Mounting automotive manufacturing in developing countries, better and safer working conditions, and technological breakthroughs in robotic systems, wireless technologies, and driverless cars are the aspects boosting the region growth.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to the development of the automobile industry and government rules requiring hygiene and sanitation in the food and beverage sector. The e-commerce sector expansion, modernization of infrastructure, and expansion of manufacturing facilities are all predicted to contribute to the market growth. The demand for these technologies in warehouse automation has surged due to recent e-commerce success.
Key players in the market
Some of the key players profiled in the Automated Storage and Retrieval Systems Market include Honeywell Intelligrated, Daifuku Co., Ltd., TGW Logistics Group, Toyota Industries Corporation, SSI Schaefer Group, Mecalux SA, Swisslog Holding AG, Beumer Group GmbH, Knapp AG, Murata Machinery, Ltd, Material Handling Systems, System Logistics S.P.A., Kardex Holding AG, Viastore Systems GmbH, Dematic Group, Schaefer Systems International, Inc, Vanderlande Industries B.V. and Bastian Solutions, Inc.
Key Developments:
In August 2021, SSI Schaefer was awarded the contract to automate a new portion of ZF Foton's warehouse in Jiaxing, Zhejiang province, China. The area of supplies and services also includes a mini load with retrieval and storage devices, a modernized bin conveying system, as well as a logistics software WCS system. The operating capacity, storage volume optimization, and picking effectiveness of the warehouse will all be enhanced.
In May 2021, Toyota Industries and Third Wave Automation collaborated to create the next generation of autonomous material handling vehicles. The eventual growth in production and distribution of high-quality goods will result from integrating intelligent robots into material handling machinery.
Types Covered:
• Autostore
• Floor Robots
• Vertical Lift Module
• Vertical Buffer Modules
• Robotic Shuttles
• Carousels
• Mid Load
• Mini Load
• Unit Load
• Micro-Load
• Other Types
Equipments Covered:
• Rack Structure
• Conveyor Interface
• Warehouse Control System
• Retrieval Machines
• Other Equipments
Applications Covered:
• Storage
• Assembly
• Production
• Security
• Replenishment & Returns
• Maintenance & Repair Parts
• Order Picking
• Kitting
• Buffering
• Consolidation
• Other Applications
End Users Covered:
• Aerospace & Aviation
• Automotive
• Food & Beverage
• Healthcare & Pharmaceutical
• Lifesciences and Laboratory Automation
• Chemicals, Rubber, and Plastics
• Semiconductor & Electronics
• Retail & E-Commerce
• Metals & Heavy Machinery
• General Manufacturing
• Logistics, Warehousing, and Distribution
• Postal & Parcel
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Automated Storage and Retrieval Systems Market, By Type
5.1 Introduction
5.2 Autostore
5.3 Floor Robots
5.4 Vertical Lift Module
5.5 Vertical Buffer Modules
5.6 Robotic Shuttles
5.7 Carousels
5.8 Mid Load
5.9 Mini Load
5.10 Unit Load
5.11 Micro-Load
5.12 Other Types
6 Global Automated Storage and Retrieval Systems Market, By Equipment
6.1 Introduction
6.2 Rack Structure
6.3 Conveyor Interface
6.4 Warehouse Control System
6.5 Retrieval Machines
6.6 Other Equipments
7 Global Automated Storage and Retrieval Systems Market, By Application
7.1 Introduction
7.2 Storage
7.3 Assembly
7.4 Production
7.5 Security
7.6 Replenishment & Returns
7.7 Maintenance & Repair Parts
7.8 Order Picking
7.9 Kitting
7.10 Buffering
7.11 Consolidation
7.12 Other Applications
8 Global Automated Storage and Retrieval Systems Market, By End User
8.1 Introduction
8.2 Aerospace & Aviation
8.3 Automotive
8.4 Food & Beverage
8.5 Healthcare & Pharmaceutical
8.6 Lifesciences and Laboratory Automation
8.7 Chemicals, Rubber, and Plastics
8.8 Semiconductor & Electronics
8.8 Retail & E-Commerce
8.10 Metals & Heavy Machinery
8.11 General Manufacturing
8.12 Logistics, Warehousing, and Distribution
8.13 Postal & Parcel
8.14 Other End Users
9 Global Automated Storage and Retrieval Systems Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Honeywell Intelligrated
11.2 Daifuku Co., Ltd.
11.3 TGW Logistics Group
11.4 Toyota Industries Corporation
11.5 SSI Schaefer Group
11.6 Mecalux SA
11.7 Swisslog Holding AG
11.8 Beumer Group GmbH
11.9 Knapp AG
11.10 Murata Machinery, Ltd
11.11 Material Handling Systems
11.12 System Logistics S.P.A.
11.13 Kardex Holding AG
11.14 Viastore Systems GmbH
11.15 Dematic Group
11.16 Schaefer Systems International, Inc.
11.17 Vanderlande Industries B.V.
11.18 Bastian Solutions, Inc.
List of Tables
1 Global Automated Storage and Retrieval Systems Market Outlook, By Region (2020-2028) ($MN)
2 Global Automated Storage and Retrieval Systems Market Outlook, By Type (2020-2028) ($MN)
3 Global Automated Storage and Retrieval Systems Market Outlook, By Autostore (2020-2028) ($MN)
4 Global Automated Storage and Retrieval Systems Market Outlook, By Floor Robots (2020-2028) ($MN)
5 Global Automated Storage and Retrieval Systems Market Outlook, By Vertical Lift Module (2020-2028) ($MN)
6 Global Automated Storage and Retrieval Systems Market Outlook, By Vertical Buffer Modules (2020-2028) ($MN)
7 Global Automated Storage and Retrieval Systems Market Outlook, By Robotic Shuttles (2020-2028) ($MN)
8 Global Automated Storage and Retrieval Systems Market Outlook, By Carousels (2020-2028) ($MN)
9 Global Automated Storage and Retrieval Systems Market Outlook, By Mid Load (2020-2028) ($MN)
10 Global Automated Storage and Retrieval Systems Market Outlook, By Mini Load (2020-2028) ($MN)
11 Global Automated Storage and Retrieval Systems Market Outlook, By Unit Load (2020-2028) ($MN)
12 Global Automated Storage and Retrieval Systems Market Outlook, By Micro-Load (2020-2028) ($MN)
13 Global Automated Storage and Retrieval Systems Market Outlook, By Other Types (2020-2028) ($MN)
14 Global Automated Storage and Retrieval Systems Market Outlook, By Equipment (2020-2028) ($MN)
15 Global Automated Storage and Retrieval Systems Market Outlook, By Rack Structure (2020-2028) ($MN)
16 Global Automated Storage and Retrieval Systems Market Outlook, By Conveyor Interface (2020-2028) ($MN)
17 Global Automated Storage and Retrieval Systems Market Outlook, By Warehouse Control System (2020-2028) ($MN)
18 Global Automated Storage and Retrieval Systems Market Outlook, By Retrieval Machines (2020-2028) ($MN)
19 Global Automated Storage and Retrieval Systems Market Outlook, By Other Equipments (2020-2028) ($MN)
20 Global Automated Storage and Retrieval Systems Market Outlook, By Application (2020-2028) ($MN)
21 Global Automated Storage and Retrieval Systems Market Outlook, By Storage (2020-2028) ($MN)
22 Global Automated Storage and Retrieval Systems Market Outlook, By Assembly (2020-2028) ($MN)
23 Global Automated Storage and Retrieval Systems Market Outlook, By Production (2020-2028) ($MN)
24 Global Automated Storage and Retrieval Systems Market Outlook, By Security (2020-2028) ($MN)
25 Global Automated Storage and Retrieval Systems Market Outlook, By Replenishment & Returns (2020-2028) ($MN)
26 Global Automated Storage and Retrieval Systems Market Outlook, By Maintenance & Repair Parts (2020-2028) ($MN)
27 Global Automated Storage and Retrieval Systems Market Outlook, By Order Picking (2020-2028) ($MN)
28 Global Automated Storage and Retrieval Systems Market Outlook, By Kitting (2020-2028) ($MN)
29 Global Automated Storage and Retrieval Systems Market Outlook, By Buffering (2020-2028) ($MN)
30 Global Automated Storage and Retrieval Systems Market Outlook, By Consolidation (2020-2028) ($MN)
31 Global Automated Storage and Retrieval Systems Market Outlook, By Other Applications (2020-2028) ($MN)
32 Global Automated Storage and Retrieval Systems Market Outlook, By End User (2020-2028) ($MN)
33 Global Automated Storage and Retrieval Systems Market Outlook, By Aerospace & Aviation (2020-2028) ($MN)
34 Global Automated Storage and Retrieval Systems Market Outlook, By Automotive (2020-2028) ($MN)
35 Global Automated Storage and Retrieval Systems Market Outlook, By Food & Beverage (2020-2028) ($MN)
36 Global Automated Storage and Retrieval Systems Market Outlook, By Healthcare & Pharmaceutical (2020-2028) ($MN)
37 Global Automated Storage and Retrieval Systems Market Outlook, By Lifesciences and Laboratory Automation (2020-2028) ($MN)
38 Global Automated Storage and Retrieval Systems Market Outlook, By Chemicals, Rubber, and Plastics (2020-2028) ($MN)
39 Global Automated Storage and Retrieval Systems Market Outlook, By Semiconductor & Electronics (2020-2028) ($MN)
40 Global Automated Storage and Retrieval Systems Market Outlook, By Retail & E-Commerce (2020-2028) ($MN)
41 Global Automated Storage and Retrieval Systems Market Outlook, By Metals & Heavy Machinery (2020-2028) ($MN)
42 Global Automated Storage and Retrieval Systems Market Outlook, By General Manufacturing (2020-2028) ($MN)
43 Global Automated Storage and Retrieval Systems Market Outlook, By Logistics, Warehousing, and Distribution (2020-2028) ($MN)
44 Global Automated Storage and Retrieval Systems Market Outlook, By Postal & Parcel (2020-2028) ($MN)
45 Global Automated Storage and Retrieval Systems Market Outlook, By Other End Users (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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