Automated Storage And Retrieval System Market Predicted to Hit US$ 29.4 Billion by 2028

IMARC Group, a leading market research company, has recently releases report titled “Automated Storage And Retrieval System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global automated storage and retrieval system market report, growth, share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

What is Automated Storage And Retrieval System?

Automated storage and retrieval system (ASRS) is a sophisticated material handling system that relies on computer-controlled mechanisms to automatically store and retrieve goods from designated storage locations. It consists of high-density storage racks or shelving units that are designed to efficiently store and organize goods. It is designed to handle a high volume of goods and enable fast and accurate storage and retrieval processes. It optimizes space utilization, improves inventory management, increases operational efficiency, and reduces labor costs.

How Big Is the Automated Storage And Retrieval System Market?

The global automated storage and retrieval system market size reached US$ 19.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 29.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.9% during 2023-2028.

Global Automated Storage And Retrieval System Market Trends and Drivers:

Presently, the increasing adoption of ASRS in numerous warehouses and distribution centers to increase storage density, improve inventory accuracy, and enhance order fulfillment processes represents one of the primary factors fueling the market growth around the world. Besides this, the rising usage of ASRS in the textile industry to streamline inventory management, enable efficient order fulfillment, and support rapid picking and sorting processes is favoring the growth of the market. In addition, the growing need for ASRS in the pharmaceutical sector to ensure accurate inventory control and compliance with regulatory requirements is creating a positive outlook for the market. Apart from this, the rising requirement of ASRS in small and medium-sized enterprises (SMEs) to reduce human interaction is propelling the growth of the market.

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Type:

• Vertical Lift Modules
• Carousels
  • Horizontal Carousels
  • Vertical Carousels
• Crane-Based
• Vertical Buffer Modules
• Robotic Shuttles
• Floor Robots

Breakup by Load:

• Unit-Load ASRS
  • Fixed-Aisle ASRS
  • Movable-Aisle ASRS
• Mini-Load ASRS
• Micro-Load ASRS

Breakup by Application:

• Storage
• Order Picking
• Kitting
• Buffering
• Others

Breakup 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
• Others

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

The report provides a comprehensive analysis of the industry key players listed below:

Beumer Group GmbH Co. KG, Daifuku Co. Ltd., Dematic (Kion Group AG), Honeywell International Inc., Kardex Group, Knapp AG, Mecalux S.A., Murata Machinery Ltd., Schaefer Systems International Pvt Ltd, System Logistics S.p.A. (Krones AG), TGW Logistics Group, Toyota Industries Corporation and Viastore Systems.