Automated Storage and Retrieval System Market Size, Share, Analysis, Growth, Trends, Industry Report 2023-2032|Schaefer Systems International Pvt. Ltd., Beumer Group, Daifuku Co. Ltd., Dematic (Kion Group AG), Honeywell International Inc

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The Automated Storage and Retrieval System Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Automated Storage and Retrieval System Global Market Report 2024, The automated storage and retrieval system market size has grown strongly in recent years. It will grow from $9.63 billion in 2023 to $10.5 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to increased focus on warehouse optimization and efficiency, growth in demand for e-commerce and online retail, need for labor cost reduction and workforce optimization, efficient space utilization in warehousing and distribution centers, rise in complexity of supply chain and inventory management.

The automated storage and retrieval system market size is expected to see strong growth in the next few years. It will grow to $14.67 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to demand for sustainable and eco-friendly warehousing solutions, expansion of industries requiring high-density storage (e.g., healthcare, automotive), focus on safety and reduction of workplace accidents, market penetration in emerging economies and developing regions, customization and scalability of asrs solutions for various industries. Major trends in the forecast period include technological advancements in robotics and automation, goods-to-person systems, artificial intelligence (ai) and machine learning integration, real-time data analytics and reporting, shuttle systems for cold storage.

The increasing demand for automation is significantly driving the growth of the automated storage and retrieval system market. Automation refers to the application of technologies with minimal human intervention for producing and delivering goods and services. The majority of the industrial sectors are adopting automated systems such as automated storage and retrieval system to cut back errors, reduce repetitive tasks, and lower processing costs. The increasing demand for automation in the industries is directly promoting the increased use of automated storage and retrieval system. For instance, in August 2022, according to reports from Automation.com, a US-based media company, in 2022 69% of business leaders plan to adopt intelligent automation to address spiraling cost pressures caused by surging inflation and economic shocks. Which increased by 50% from 2020, and in the coming years, these numbers are expected to increase. Therefore, the increase in demand for automation is driving the growth of the automated storage and retrieval system market.

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The automated storage and retrieval system market covered in this report is segmented –

1) By Type: Unit Load, Mid Load, Vertical Lift Module, Carousel, Mini Load

2) By Function: Distribution, Storage, Assembly, Kitting, Order Picking

3) By End User: Automotive, Semiconductor And Electronics, General Manufacturing, Retail And Warehousing or Logistics, Aviation, Chemicals, Rubber, And Plastics, Healthcare And Pharma, Food And Beverage, Postal And Parcel

Technological advancements are shaping the automated storage and retrieval system market. Major market players are developing advanced automated storage and retrieval systems with innovative technologies for industrial use to cut back errors, reduce repetitive tasks, and lower processing costs. For instance, in November 2021, Honeywell International Inc. launched a new automated storage and retrieval system with machine learning and artificial intelligence to automate complex tasks in distribution centers, warehouses, and manufacturing sites to process, receive, and fill orders at a faster pace and accuracy. These include Smart Flexible Depalletizer to help automate the unloading pallets manual process.

The automated storage and retrieval system market report table of contents includes:

1. Executive Summary

2. Automated Storage and Retrieval System Market Characteristics

3. Automated Storage and Retrieval System Market Trends And Strategies

4. Automated Storage and Retrieval System Market – Macro Economic Scenario

5. Global Automated Storage and Retrieval System Market Size and Growth

26. South America Automated Storage and Retrieval System Market

27. Brazil Automated Storage and Retrieval System Market

28. Middle East Automated Storage and Retrieval System Market

29. Africa Automated Storage and Retrieval System Market

30. Automated Storage and Retrieval System Market Competitive Landscape And Company Profiles

Top Major Players: