Automated Storage and Retrieval System Market Projected to Hit USD 18.3 Billion at a 8.90% CAGR by 2030 - Report by Market Research Future (MRFR)

Automated Storage and Retrieval System Market Growth Drive by Need of high accuracy information and conveying countless articles within the specified time.

/EIN News/ -- New York, US, Sept. 26, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Automated Storage and Retrieval System Market, By Type, By Applications, By End-User - Forecast 2030”, to thrive substantially during the assessment timeframe from 2022 to 2030 at a healthy CAGR of over 8.90%.

Automated Storage and Retrieval System Market Overview:

The automated storage and retrieval system refers to an inventory management system mainly utilized in distribution facilities, warehouses, and manufacturing centers. The system comprises various computer-controlled systems that automatically substitute and retrieve loads from one site to another. The industry sectors utilizing these systems where high-volume loads are moved from one place to another are beneficial for precise, fast, reliable, and low-cost solutions. It is highly utilized across semiconductors & electronics, food & beverages, automotive, healthcare, e-commerce, and chemicals markets to handle large items safely and precisely. The system focuses on improving storage capacity, boosting performance, and reducing energy costs.

Automated Storage and Retrieval System Market Competitive Analysis

The list of prominent participants across the global market for automated storage and retrieval systems includes companies such as:

• Kardex Group (Switzerland)
• TGW Logistics Group GmbH (Austria)
• Mecalux SA (Spain)
• Swisslog Holding AG (Switzerland)
• Vanderlande Industries (Netherlands)
• Daifuku Co., Ltd. (Japan)
• System Logistics Corporation (Italy)
• SSI Schaefer Group (Germany)
• Bastian Solution (US)
• Murata Machinery (Japan)
• Beumer Group (Germany)
• Knapp AG (Austria)
• Dematic GmbH & Co. KG (Germany)

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The global automated storage and retrieval systems market has increased in the last few years. The increasing online business and web-based shopping is the primary factor causing an upsurge in the market's growth. The advancement of the internet is a particular aspect of boosting the market's growth. On the other hand, aspects such as covid 19 and the absence of skilled laborers will likely restrict the market's growth. Nevertheless, the global automated storage and retrieval market is predicted to witness substantial growth over the assessment era.

Automated Storage and Retrieval System Market USP Covered

Automated Storage and Retrieval System Market Drivers

The global market for automated storage and retrieval systems has increased in the last few years, given the aspects such as the rising interest for ASRSs in online business, web-based business industry, and expanded prevalence of chilled & frozen food sources.

Automated Storage and Retrieval System Market Restraints

On the other hand, the unavailability of specialized aptitude and the lack of a talented labor force may restrict the market's growth.

Automated Storage and Retrieval System Market Report Scope:

Report Metrics	Details
Market Size by 2030	USD 18.3 Billion
CAGR during 2022-2030	8.90%
Base Year	2021
Forecast	2022-2030
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Market Opportunities	Mechanical headways in cold chain stockpiling and transport, Developing acknowledgment of frozen food
Key Market Drivers	Provide the information with high accuracy, Getting and conveying countless articles within the specified time, Internet business organizations have embraced robotization

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Automated Storage and Retrieval System Market Segment Analysis

Among all the loads, the unit-load ASRS segment is predicted to secure the top position across the global market for automated storage and retrieval systems over the review timeframe. The segment's growth is credited to the rising demand to encounter shipping deadlines during peak times. Furthermore, the factors such as increasing acceptance of unit-load automated storage systems and the increasing need to enhance business proficiency are also predicted to influence the segment's growth over the assessment era. In addition, the rising need to reduce incineration costs and the incorporation of innovative technologies with process handling and shipping operations are anticipated to boost the segment's growth over the review timeframe.

Among all the types, the floor robots segment is predicted to dominate the global market over the coming years. the growth of the segment is credited mainly to factors such as the rising adoption of floor robots in the e-commerce industry, rising need to optimize supply chain management, and effective order fulfillment operations. On the other hand, the vertical lift modules segment is anticipated to record the maximum growth over the review era.

Based on the application, the storage segment is anticipated to dominate the global automated storage and retrieval systems market during the review timeframe. The factors such as the increasing need to reduce damage to goods and industrial accidents, growing demand for innovative storage systems, and a boom in online channels for shopping are predicted to influence the segment's growth.

Among all the end-use industries, the automotive segment is predicted to lead the global market given the aspects such as increasing government initiatives, reviving the local automotive industry, and increasing focus on Industry 4.0, lack of skilled laborers.

COVID-19 Impact

The global health crisis in the form of COVID-19 has had a massive impact on the majority of industrial areas. Like all the market areas, the global market for automated storage and retrieval systems also faced several unexpected challenges during the pandemic. On the other hand, with rapid vaccination rates across the globe, industrial and financial activities are returning to normal. With all of this, the global automated storage and retrieval systems market is anticipated to witness substantial growth over the coming years.

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Automated Storage and Retrieval System Market Regional Analysis

The global automated storage and retrieval market is analyzed across five major regions: Europe, North America, Asia-Pacific, Latin America, and the Middle East & Africa.

According to the analysis reports by MRFR, the North American region is predicted to secure the top position across the global market for automated storage and retrieval systems over the assessment timeframe. The presence of several inferable from numerous businesses is the prime aspect causing an upsurge in the regional market.

The European region's automated storage and retrieval systems market is predicted to grow substantially over the assessment timeframe. The primary aspect boosting the regional market's growth is the widespread acceptance of automation technology. Furthermore, the growing deployment of Industry 4.0 is another prime parameter boosting the growth of the regional market over the review timeframe. In addition, the factors such as the extensive presence of automotive companies and the flourishing e-commerce sector are also anticipated to catalyze the growth of the European regional market for automated storage and retrieval systems over the coming years.

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The Asia-Pacific regional automated storage and retrieval market is predicted to witness the highest CAGR over the forecasted era. The region has South Korea, Japan, and China as the leading growth contributors.

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