Dublin, Dec. 14, 2021 (GLOBE NEWSWIRE) -- The "Automated Storage and Retrieval Systems Market by Load, Type, Application, End-user - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The Automated Storage and Retrieval Systems (ASRS) Market is expected to reach $7.04 billion by 2028, at a CAGR of 5.8% during the forecast period, 2021 to 2028.
The growth of this market is mainly attributed to the consistently increasing order velocity and volume from the e-commerce sector, government initiatives & investments to retrieve the automotive sector, increasing emphasis on the development of smart factories, technological advancements in the ASRS-associated sensor technology, and rapidly growing industrialization.
In addition, factors such as rising investment capabilities of industrial users in developing countries; increasing integration of innovative technologies, such as RFID, barcode, and AI with automated systems; and high adoption rate of ASRS to enhance operational efficiency are expected to create tremendous opportunities for the market growth over the forecast period.
With the outbreak of the COVID-19 pandemic, industries are focusing on automation across different sectors. The need to reduce human interaction, minimize operational errors, inaccessibility to a skilled workforce, and growing government focus on improving digital infrastructure are also projected to fuel the growth of the automated storage and retrieval systems market.
Based on load, in 2021, the unit-load segment is expected to account for the largest market share. The large share of this segment is mainly attributed to the stringent shipping deadlines, particularly during peak times, growing focus on improving the yield ratio, reducing incineration cost, and widespread adoption of unit-load ASRS. The incorporation of pioneering technologies in handling and shipping operations is also expected to support the fastest growth of this segment in the coming years.
Based on type, in 2021, the floor robots segment is expected to account for the largest market share. The large share of this segment is primarily attributed to the surge in piece picking requirement, increased importance of optimum warehouse floor utilization, and advancements in robotic retrieval systems.
Based on application, in 2021, the storage segment is expected to account for the largest market share. The large share of this segment is majorly attributed to the increasing popularity of e-commerce, growing adoption of advanced storage systems, and minimizing goods damage & industrial accidents. The growing acceptance of automated cold chain storage for critical healthcare products, particularly amid the COVID-19 pandemic, is also expected to support the fastest growth of this segment in the coming years.
Based on end user, in 2021, the automotive segment is expected to account for the largest market share. The large share of this segment is mainly attributed to the increasing emphasis on reimaging the next-generation automobile warehouse and reducing reliance on third-party logistic providers.
However, the healthcare & pharma segment is expected to record the highest CAGR during the forecast period due to rapid digital transformation in the healthcare sector, curtailment in hospital operating expenses, and compulsion to abide by government regulations for maintaining an optimum healthcare environment.
In 2021, Europe is expected to account for the largest share of the automated storage and retrieval systems market. The large share of this regional market is mainly attributed to the high dependence on advanced system technologies, easy availability of ASRS, established automotive industry, and supportive digital infrastructure.
APAC is expected to register the highest CAGR during the forecast period due to the rapidly improving manufacturing & warehousing infrastructure, increasing popularity of automated systems, rising investment capabilities of the industrial users', and growing industry digitalization backed by positive local government initiatives.
Key Questions Answered in the Report-
- Which are the high-growth market segments in terms of load, type, application, end user, and geography?
- What is the historical market size of the automated storage and retrieval systems market?
- What are the market forecasts and estimates for the period 2021-2028?
- What are the major drivers, restraints, opportunities, and trends in the automated storage and retrieval systems market?
- Who are the major players in the automated storage and retrieval systems market, and what share of the market do they hold?
- How is the competitive landscape?
- What are the recent developments in the automated storage and retrieval systems market?
- What are the various strategies adopted by the major players in the automated storage and retrieval systems market?
- What are the geographical trends and high-growth countries?
- Who are the local emerging players in the automated storage and retrieval systems market, and how do they compete with the other players?
Market Dynamics
Drivers
- Growing Emphasis on Improving Floor Space Utilization
- Increasing Need to Reduce Labour and Distribution Costs
Restraints
- High Initial Costs
- Lengthy Installation Process
Opportunities
- Growing Significance of Online Retail Platforms and Associated Supply Chains
- Increasing Utilization of RFID and Barcode Technologies
- Growing Deployment of Automated Storage Systems for Healthcare Supply Chains and Transportation Applications
Challenges
- Reluctance in Deploying Automated Systems in Developing Countries
Trends
- Growing Implementation of Automated Cold Storage Warehouses and Associated Supply Chains
Case Studies
Key players operating in the automated storage and retrieval systems market are
- Daifuku Co. Ltd.
- SSI SCHAEFER AG
- Dematic
- Honeywell Intelligrated
- Toyota Industries Corporation
- Murata Machinery Ltd.
- KNAPP AG
- BEUMER Group GmbH
- Swisslog Holding AG
- Material Handling Systems
- TGW Logistics Group
- WITRON Logistik+Infomatik GmbH
- Kardex Group
- System Logistics S.p.A.
- viastore SYSTEMS GmbH
- Jungheinrich AG
- MATTER Srl
- Mecalux S.A.
- Craftsman Storage Systems
Scope of the Report:
Automated Storage and Retrieval Systems Market, by Load
- Unit-load ASRS
- Fixed-aisle ASRS
- Movable-aisle ASRS
- Mini-load ASRS
- Micro-load ASRS
Automated Storage and Retrieval Systems Market, by Type
- Vertical Lift Modules
- Carousels
- Horizontal Carousels
- Vertical Carousels
- Crane-based
- Vertical Buffer Modules
- Robotic Shuttles
- Floor Robots
Automated Storage and Retrieval Systems Market, by Application
- Storage
- Order Picking
- Kitting
- Buffering
Automated Storage and Retrieval Systems Market, by End User
- Automotive
- Semiconductor & Electronics
- General Manufacturing
- Retail & Warehousing/Logistics
- Aviation
- Chemicals, Rubber, and Plastics
- Healthcare & Pharma
- Food & Beverage
- Postal & Parcel
For more information about this report visit https://www.researchandmarkets.com/r/u4m7pl
