Market Size of Automated Storage And Retrieval System Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 18.07 Billion |
Market Size (2029) | USD 30.54 Billion |
CAGR (2024 - 2029) | 11.07 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Automated Storage & Retrieval System (ASRS) Market Analysis
The Automated Storage and Retrieval System Market size is estimated at USD 18.07 billion in 2024, and is expected to reach USD 30.54 billion by 2029, growing at a CAGR of 11.07% during the forecast period (2024-2029).
The explosion of e-commerce, changing consumer demands, and global labor shortages are driving the need for flexible automated solutions that make order fulfillment and distribution faster and more efficient. ASRS technology is finding application in manufacturing units, warehouses, and distribution centers for materials transport and inventory management purposes. These systems are commonly utilized in cold storage, automotive, pharmaceutical manufacturing, food and beverage, and e-commerce applications.
- ASRS is most beneficial in warehouse applications. These systems save ample floor space, which is a crucial factor in warehouse operations. With the evolution of technology, the flow and control of materials have improved. The equipment offers better visualization and the ability to handle variability, variety, and volume at higher speeds, thus generating increased value.
- The expansion activities carried out by the airports for advanced technologies will boost the studied market growth. For instance, in July 2022, The U.S. Department of Transportation's Federal Aviation Administration (FAA) announced the award of nearly USD 1 billion to 85 airports across the country for improving terminals of all sizes. Building airport terminals will ensure better customer experiences, move goods through the economy with more efficiency, minimize prices, and increase U.S. competitiveness.
- Furthermore, increasing need for efficient and effective solutions for managing warehouses, traffic, logistics, and others, the need for ASRS has been growing. With the growing demand for automated storage and retrieval systems, various companies have been undertaking various initiatives to strengthen their position in the market. For instance, in January 2023, OPEX Corporation, through its subsidiary, OPEX GmbH, entered into a strategic partnership with Transition to launch its leading-edge warehouse automation technology to customers in France.
- Through its comprehensive suite of technology solutions (including Perfect Pick, a goods-to-person (AS/RS), and Sure Sort, a robotic sorting system), OPEX enables its clients to reduce costs, improve workflow, and drive efficiencies in infrastructure around the world. Such initiatives by the companies in the market are expected to fuel the automated storage and retrieval system market during the forecast period.
- In addition, in February 2022, AddverbTechnologies announced the establishment of a subsidiary office in the United States to serve its North and South American customers. Addverbis focuses on creating fully automated warehouses and manufacturing facilities. It is collaborating with several industries, including e-commerce, retail, and grocery. The company offers six robots comprising a mobile robot, a pallet robot, a shuttle robot, a sorting robot, and a U.V. disinfection robot. It also provides a shuttle-based ASRS system and software to create high-speed robotic fulfillment centers.
- However, the need for skilled operators to enable the adequate functioning and maintenance of automated material-handling systems could be a significant impediment in emerging countries. However, automated material-handling vendors have been trying to offset this issue by offering periodic maintenance. In addition to high initial costs, the need for skilled workers to perform various activities throughout the vehicles' shelf life is widely considered a significant concern in the market studied.
- On the contrary, during the post-pandemic, the significantly increased awareness of digital and automated technologies is expected to support the studied market's growth in the forecast period. For instance, in January 2023, AutoStore, one of the significant warehouse automation companies, launched Pio ("Product In/Out"), which is a plug-and-play version of acclaimed AutoStore cube storage technology tailored for small and medium-sized businesses (SMBs).
Automated Storage & Retrieval System (ASRS) Industry Segmentation
Automated storage and retrieval systems (ASRS) have undergone technological innovations, such as incorporating onboard processors, actuators, and new control processors, to enable better performance and system utilization. It also refers to a computer-controlled system that automatically stores and retrieves goods from designated locations. The studied market is segmented by product types such as fixed axle systems (stacker cranes {unit load, mini load}, shuttle systems {pallet load, totes, and cages}) and vertical lift modules.
The study also considers various end-user industries, such as manufacturing environments (automotive, food and beverages, life sciences) and non-manufacturing environments (general merchandise, logistics and warehousing, airports), among multiple geographies. Further, the impact of macroeconomic trends on the market and influenced segments are also covered under the scope of the study. Further, the disturbance of the factors affecting the market's evolution in the near future has been covered in the study concerning drivers and restraints.
The market sizes and forecasts are provided in terms of value in USD for all the above segments.
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Vertical Lift Module |
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Automated Storage And Retrieval System Market Size Summary
The Automated Storage and Retrieval System (ASRS) market is poised for significant growth, driven by the increasing demand for efficient and flexible automated solutions across various industries. The surge in e-commerce, evolving consumer preferences, and global labor shortages are key factors propelling the adoption of ASRS technology. These systems are extensively utilized in sectors such as cold storage, automotive, pharmaceuticals, food and beverage, and e-commerce, primarily for materials transport and inventory management. The technology's ability to optimize warehouse space, enhance material flow and control, and improve operational efficiency makes it a valuable asset in modern logistics and supply chain management. The market is further bolstered by strategic initiatives from major players, such as partnerships and technological advancements, aimed at expanding their footprint and offering innovative solutions to meet the growing demand.
The competitive landscape of the ASRS market is characterized by the presence of prominent players like Daifuku, Schaefer Systems International, and ABB Robotics, who are actively engaging in product innovation and strategic collaborations to strengthen their market position. The market's growth is also supported by significant investments in infrastructure development, such as airport expansions and the establishment of automated distribution centers, which are expected to enhance logistics efficiency and reduce operational costs. Additionally, the increasing focus on automation in regions like Asia-Pacific, particularly in China and India, is driving the adoption of ASRS technology, aligning with the broader Industry 4.0 trends. Despite challenges such as the need for skilled operators and high initial costs, the market is anticipated to expand, fueled by the ongoing digital transformation and the rising importance of automation in achieving operational excellence.
Automated Storage And Retrieval System Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Buyers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitute Products
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1.2.5 Intensity of Competitive Rivalry
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1.3 Industry Value Chain Analysis
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1.4 Assessment of Impact of Macroeconomic Trends on the Market
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Fixed Aisle System
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2.1.1.1 Stacker Crane
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2.1.1.1.1 Unit Load
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2.1.1.1.2 Mini Load
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2.1.1.2 Shuttle Systems
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2.1.1.2.1 Pallet Loads
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2.1.1.2.2 Totes, Crates, and Others
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2.1.2 Vertical Lift Module
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2.2 By End-user Industry
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2.2.1 Manufacturing Environments
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2.2.1.1 Automotive
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2.2.1.2 Food and Beverages
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2.2.1.3 Life Sciences
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2.2.1.4 Other Manufacturing Environments
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2.2.2 Non-manufacturing Environments
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2.2.2.1 General Merchandise
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2.2.2.2 Logistics and Warehousing
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2.2.2.3 Airport
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2.2.2.4 Other Non-manufacturing Environments
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2.3 By Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 Germany
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.3 Asia
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.4 Australia and New Zealand
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2.3.5 Latin America
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2.3.5.1 Brazil
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2.3.5.2 Mexico
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2.3.6 Middle East and Africa
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2.3.6.1 United Arab Emirates
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2.3.6.2 Saudi Arabia
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2.3.6.3 South Africa
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Automated Storage And Retrieval System Market Size FAQs
How big is the Automated Storage and Retrieval System Market?
The Automated Storage and Retrieval System Market size is expected to reach USD 18.07 billion in 2024 and grow at a CAGR of 11.07% to reach USD 30.54 billion by 2029.
What is the current Automated Storage and Retrieval System Market size?
In 2024, the Automated Storage and Retrieval System Market size is expected to reach USD 18.07 billion.