SAN FRANCISCO, July 19, 2023 /PRNewswire/ -- The global automated storage and retrieval system market size is expected to reach USD 10.31 billion by 2030, according to a new report by Grand View Research, Inc. 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.
Key industry Insights & Findings from the report:
- 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.
Read 120-page market research report, "Automated Storage And Retrieval System Market Size, Share & Trends Analysis Report By Type, By Function (Assembly, Distribution, Kitting, Order Picking, Storage), By Vertical, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.
Automated Storage And Retrieval System Market Growth & Trends
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. In November 2021, Honeywell International Inc. launched a new AS/RS system powered by machine learning and artificial intelligence algorithms. The system optimized the warehousing operation by adjusting to the user's needs through decision intelligence. Also, Honeywell's AI-powered AS/RS can manage 20,000 stock-keeping units (SKU) with 40% more throughput.
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.
Automated Storage And Retrieval System Market Report Scope
Report Attribute | Details |
Market size value in 2023 | USD 6.10 billion |
Revenue forecast in 2030 | USD 10.31 billion |
Growth rate | CAGR of 7.8 % from 2023 to 2030 |
Base year for estimation | 2022 |
Historic year | 2017 - 2021 |
Forecast period | 2023 - 2030 |
Automated Storage And Retrieval System Market Segmentation
Grand View Research has segmented the global automated storage and retrieval system market based on type, function, vertical, and region
Automated Storage And Retrieval System Market - Type Outlook (Revenue, USD Billion, 2017 - 2030)
- Unit Load Cranes
- Mini Load Cranes
- Robotic Shuttle-based
- Carousel-based
- Vertical Lift Module
- Robotic Cube-based
Automated Storage And Retrieval System Market - Function Outlook (Revenue, USD Billion, 2017 - 2030)
- Assembly
- Distribution
- Kitting
- Order Picking
- Storage
- Others
Automated Storage And Retrieval System Market - Vertical Outlook (Revenue, USD Billion, 2017 - 2030)
- Retail & E-commerce
- Healthcare
- Automotive
- Aerospace & Defense
- Electronics & Semiconductors
- Others
Automated Storage And Retrieval System Market - Regional Outlook (Revenue, USD Billion, 2017 - 2030)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- KSA
- UAE
- South Africa
List of Key Players in the Automated Storage And Retrieval System Market
- 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
Check out more related studies published by Grand View Research:
- Cold Chain Market - The global cold chain market is expected to reach USD 1,071.13 billion by 2030, registering a CAGR of 18.6%, according to a new report by Grand View Research, Inc. The retail sector in emerging economies, such as India and China, is getting more organized and this trend is expected to augment the demand for cold storage over the forecast period. Government policies to deregulate the entry of foreign companies have increased the Foreign Direct Investment (FDI) in the retail sectors of such regions.
- Cold Storage Market - The global cold storage market size is expected to reach USD 485.32 billion by 2030, registering a CAGR of 17.2%, according to a new study conducted by Grand View Research, Inc. The retail sector in emerging economies, such as India and China, is getting more organized and this trend is expected to augment the demand for cold storage over the forecast period. Government policies to deregulate the entry of foreign companies have increased the Foreign Direct Investment (FDI) in the retail sectors of such regions.
- North America Cold Storage Market - The North America cold storage market size is expected to reach USD 86.48 Billion by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 10.7% from 2021 to 2028. Technological advancements in cold storage warehouses are stimulating the growth of the market. Increasing automation is changing the conventional warehouse operations, enabling companies to maximize their output. Growing penetration of robotics applications, automated material handling equipment, and high-speed conveyor systems help in achieving the order accuracy.
Browse through Grand View Research's Automotive & Transportation Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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