Dublin, July 17, 2023 (GLOBE NEWSWIRE) -- The "Automated Storage And Retrieval System Market, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global automated storage and retrieval system market size is expected to reach USD 10.31 billion by 2030, according to this report.
The market is expected to witness a CAGR of 7.8% from 2023 to 2030. Automated storage and retrieval systems (AS/RS) are computer-aided or robotic systems that store and retrieve products or items at a specific place on racks/shelves in warehouses or storage places.
The machines follow an established route to place or retrieve the item from a specific location. The high volume of loads can be quickly and efficiently moved with AS/RS. The AS/RS systems are a boon to the warehousing sector as the industry reels with labor shortages and skilled labor.
According to a DHL report in 2019, only 5% of total warehouses had installed automated storage and retrieval systems. The trend displays a promising opportunity for the market's growth in the coming years as companies are increasingly adopting AS/RS for automating their warehouses. Technological development such as artificial intelligence and machine learning are aiding the growth of the target market.
The e-commerce boom has resulted in the increasing importance of inventory management and control. The AS/RS aids in efficient inventory management as it keeps track of which product is stored where. It also tracks the volume of available inventory. Installation of AS/RS significantly improves the efficiency of the warehouses and substantially reduces the delivery time.
For instance, SAM Outillage, a French tools manufacturer, witnessed a 25% jump in its productivity across operations by installing AS/RS for 80% of its stock-keeping unit (SKU). The company can now deliver orders within 24hrs owing to the agility brought by the automated system.
The COVID-19 pandemic accelerated the adoption of automation technologies, such as automated storage and retrieval systems in the logistics sector. The social distancing norms necessitated the deployment of automation tools in warehousing functions and operations. Labor shortages during the pandemic led to increased adoption of the AS/RS during the pandemic. Retail, e-commerce, and healthcare sectors were booming during the pandemic and were among the top verticals of the AS/RS market.
Companies Mentioned
- Kardex Group
- Daifuku Co., Ltd.
- Murata Machinery, Ltd.
- SSI Schaefer AG
- TGW Logistics Group GmbH
- Dematic Corp. (Kion Group AG)
- Mecalux, S.A.
- Knapp AG
- Beumer Group GmbH & Co. KG
- KUKA AG
- Bastian Solutions, LLC
- System Logistics Corporation
Automated Storage And Retrieval System Market Report Highlights
- The unit load cranes segment dominated the market in 2022 with a revenue share of about 22%. Unit load cranes can store large loads and can reach up to 100 feet or more of height
- The order-picking function segment is anticipated to grow at a CAGR of 8.4% during the forecast period. Order picking is the first stage in the fulfillment process for a consumer's order. Order picking function is gaining more importance owing to the growth of the e-commerce sector
- The retail & e-commerce segment is expected to grow at the fastest CAGR of 8.3% during the forecast period. The growth can be attributed to the increasing need for efficient inventory management and control in retail
- The Asia Pacific segment is anticipated to register the highest CAGR of 8.6% over the forecast period. The growth can be attributed to the rapid growth of retail & e-commerce in the Asia Pacific countries such as India and China
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $5.71 Billion |
| Forecasted Market Value (USD) by 2030 | $10.31 Billion |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Variables, Trends, & Scope Outlook
3.1. Market Lineage Outlook
3.2. Automated Storage and Retrieval Systems Market - Value Chain Analysis
3.3. Automated Storage and Retrieval Systems Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Market Opportunity Analysis
3.4. Automated Storage and Retrieval Systems Market - Porter's Five Forces Analysis
3.5. Automated Storage and Retrieval Systems Market - PEST Analysis
3.6. COVID-19 Impact Analysis
Chapter 4. Automated Storage and Retrieval Systems Market Type Outlook
Chapter 5. Automated Storage and Retrieval Systems Market Function Outlook
Chapter 6. Automated Storage and Retrieval Systems Market Vertical Outlook
Chapter 7. Automated Storage and Retrieval Systems Market: Regional Estimates & Trend Analysis
Chapter 8. Automated Storage and Retrieval Systems Market Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/mhksus
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