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Automated Storage and Retrieval System Market - By System Type (Unit Load Cranes, Mini Load Cranes, Robotic Shuttle-based, Carousel-based, Vertical Lift Module, Robotic Cube-based), By Application, By Industry & Forecast, 2024 – 2032

Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Industrial-Machinery | Format: Report available in PDF / Excel Format

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Automated Storage and Retrieval System Market - By System Type (Unit Load Cranes, Mini Load Cranes, Robotic Shuttle-based, Carousel-based, Vertical Lift Module, Robotic Cube-based), By Application, By Industry & Forecast, 2024 – 2032

Automated Storage and Retrieval System Market Size

Automated Storage and Retrieval System Market was valued at USD 8.5 billion in 2023 and is estimated to register a CAGR of over 8% between 2024 & 2032. The increasing occurrence of warehouse fatalities and injuries has spurred a growing demand for automated storage and retrieval systems. These technologies offer enhanced safety features, reducing the risks associated with manual operations.

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According to the U.S. Bureau of Labor Statistics, in 2022, the number of nonfatal occupational injuries and illnesses in the transportation and warehousing industry went up to 276,300. This rise in workplace accidents has drawn attention to the need for automated solutions to improve worker safety while optimizing efficiency.

The rising demand for labor efficiency is a key factor propelling the automated storage and retrieval system market. These technologies facilitate repetitive warehouse tasks, such as storage, retrieval, and transportation, reducing reliance on manual labor. By optimizing workforce utilization, businesses can lower operational costs, improve productivity, and maintain consistent performance levels. Additionally, automated storage and retrieval systems enable round-the-clock operations without the need for extensive human supervision, further enhancing efficiency and responsiveness to fluctuating demand patterns.

Automated Storage and Retrieval System Market Report Attributes
Report Attribute Details
Base Year 2023
Automated Storage and Retrieval System Market Size in 2023 USD 8.5 Billion
Forecast Period 2024 - 2032
Forecast Period 2024 - 2032 CAGR 8%
2032 Value Projection USD 17.1 Billion
Historical Data for 2021 - 2023
No. of Pages 220
Tables, Charts & Figures 260
Segments covered System Type, Application, Industry
Growth Drivers
  • Rising number of warehouse fatalities and injuries
  • Proliferation of warehouse management technology
  • Rising need for reducing manual labor
  • Growing online retail and e-commerce industries
Pitfalls & Challenges
  • High initial investment
  • Complexity of integration

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The high initial investment required for implementing automated storage and retrieval systems can pose a significant barrier to market growth. While automated storage and retrieval system solutions offer long-term benefits, such as improved efficiency, space optimization, and labor savings, the upfront costs for purchasing equipment, software, and integration can be substantial. This financial barrier may deter some businesses, particularly Small & Medium-sized Enterprises (SMEs), from adopting automated storage and retrieval systems technology, limiting market expansion. However, advancements in technology and the potential for long-term cost savings may mitigate this challenge over time.

Automated Storage and Retrieval System Market Trends

Businesses are increasingly looking for ways to make better use of the space in their warehouses. As a result, the industry for automated storage and retrieval systems (ASRSs) is growing. ASRS solutions can pack more items into less space, which helps businesses save money and improve efficiency. For example, Hai Robotics recently came out with three new products designed to help warehouses with limited space store more items and work better. These products include the telescopic Grapple Hook ACR, the HaiPick System 3, and the HaiPick A42T-E2. The Grapple Hook ACR can be used with the HaiPick System 3 to improve both performance and storage efficiency. Together, these new products offer a compact and efficient solution for automating warehouses.

The exponential growth of e-commerce is reshaping supply chain dynamics, necessitating efficient storage and order fulfillment solutions. Automated storage and retrieval systems are increasingly vital for handling surges in product volumes while maintaining operational agility. As consumer expectations for fast delivery intensify, businesses are compelled to invest in automated storage and retrieval system technology to optimize warehouse operations. This trend highlights the lucrative growth potential for automated storage and retrieval system providers as they cater to the evolving needs of the e-commerce-driven landscape.

Automated Storage and Retrieval System Market Analysis

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Based on application, the market is divided into assembly, distribution, kitting, order picking, and storage. In 2023, the storage segment accounted for a market share of over 30%. The utilization of warehouse floor space is fueling growth in the storage application segment. Automated storage and retrieval system solutions optimize vertical space, maximizing storage capacity without expanding the physical footprint. This capability allows businesses to efficiently store more inventory within existing warehouse facilities.

For instance, in February 2024, Skechers partnered with Hai Robotics for its new distribution center in Tokyo, Japan. The company implemented Hai's automated goods-to-person system to enhance warehouse efficiency, delivery speed, and order accuracy. Hai's solution optimizes storage, reducing real estate requirements, and can adapt to fluctuating demand, address labor shortages, and support future business expansion.

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Hey there! When it comes to the world of business, we can break it down into different industries. There's everything from stores and online shopping to hospitals, car companies, and even places that build planes and stuff. In 2023, the businesses that sell stuff online or in stores raked in a whopping 25% of the market. And guess what? They're still growing! One thing that's really driving this growth is how fast people want their stuff. Stores and websites are using these cool systems that help them grab and package things faster, saving time and making customers happy. It's like having a bunch of little robots doing the work for you, so your orders can zip out the door faster than ever. Store owners know that if they don't deliver quickly, people will go shopping somewhere else. So, they're putting their money into these automated systems to make their warehouses sing like well-oiled machines. In this fast-paced world of online shopping, where everyone wants their stuff yesterday, it's like the secret weapon to staying ahead of the game.

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In 2023, North America was the star of the global show when it comes to automated storage and retrieval systems (ASRS). It owned a whopping 38% of the market. And guess what? This market is only getting bigger, thanks to the e-commerce boom and the need for better supply chains. With people ordering like crazy online, ASRS are becoming more and more important for warehouses. They can handle a lot of orders quickly, keep warehouses running smoothly, and make sure that people get their stuff fast. Plus, new tech like robots, AI, and data analytics are making ASRS even better. They're more efficient, can handle more tasks, and are more flexible, which means they can meet the changing needs of businesses in North America.

In the Asia Pacific region, there's a noticeable surge in the adoption of automated storage and retrieval systems (ASRS) driven by the rapid growth of e-commerce, expanding manufacturing sectors, and increasing focus on warehouse optimization. With rising labor costs and the need for efficient logistics operations, businesses across various industries are embracing ASRS solutions to enhance productivity, streamline processes, and meet the demands of an evolving market landscape.

In Europe, particularly in France, Germany, and the UK, there's a pronounced inclination towards adopting automated storage and retrieval systems (ASRS) to address labor shortages, improve operational efficiency, and optimize warehouse space. With stringent regulations on labor and a growing emphasis on sustainability, businesses are turning to ASRS solutions to automate their logistics processes, reduce reliance on manual labor, and achieve greater sustainability in warehouse operations.

Automated Storage and Retrieval System Market Share

Daifuku Co. Ltd, Honeywell International Inc. and Knapp AG hold a significant market share of over 14% in the market. Daifuku Co. Ltd focuses on providing customized and integrated automated storage and retrieval solutions tailored to specific customer needs. It offers comprehensive services to deliver efficient & scalable systems that optimize operations and enhance productivity.

Honeywell International Inc. and Knapp AG’scompetitive strategy revolves around innovation and technological advancements. The company invests heavily in R&D to introduce cutting-edge automated storage and retrieval solutions that leverage advanced technologies such as robotics, AI, and IoT.
Automated Storage and Retrieval System Market Companies

Major players operating in the automated storage and retrieval system industry are

  • Bastian Solutions, LLC
  • Daifuku Co. Ltd
  • Dematic (Kion Group AG)
  • Honeywell International Inc.
  • Knapp AG
  • Murata Machinery Ltd
  • Schaefer Systems International Pvt Ltd

Automated Storage and Retrieval System Industry News

  • In June 2023, Falcon Autotech introduced NEO, an advanced automated storage and retrieval system. Leveraging robotics, AI, and cutting-edge sensors, NEO streamlines goods storage and retrieval processes within warehouses. Comprising NEObots, NEOgrid, NEObins, NEOit, and NEOstations, this system utilizes an overlaid grid structure to optimize storage without complex engineering.
  • In February 2023, Prozo introduced the Mini-Load ASRS, marking a significant milestone as the first 3PL company in India to integrate such advanced technology into its supply chain management services. This deployment represents a substantial step toward achieving 100% warehouse automation for Prozo.

The automated storage and retrieval system market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) and shipment (Units) from 2021 to 2032, for the following segments

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Market, By System type

 

  • Unit load cranes
  • Mini load cranes
  • Robotic shuttle-based
  • Carousel-based
  • Vertical lift module
  • Robotic cube-based

Market, By Application

  • Assembly
  • Distribution
  • Kitting
  • Order picking
  • Storage
  • Others

Market, By Industry

  • Retail & e-commerce
  • Healthcare
  • Automotive
  • Aerospace & defense
  • Electronics & semiconductors
  • Metals & heavy machinery
  • Others

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Belgium
    • Russia
    • Sweden
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Thailand
    • Vietnam
    • Rest of Asia Pacific 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America 
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of MEA

 

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