[210 + Pages Report] Global Automated Storage and Retrieval System (ASRS) Market size & share revenue is estimated to grow over $10824.87 million by 2028, at a CAGR of approximately 6.80% between 2022 and 2028. The key market players are listed in the report with their sales, revenues and strategies are DAIFUKU, MURATA MACHINERY, SSI SCHAEFER, TGW LOGISTICS, KARDEX, TOYOTA INDUSTRIES, BEUMER, KION, KNAPP, MECALUX, KUKA, SYSTEM LOGISTICS, VANDERLANDE, HONEYWELL INTERNATIONAL, and others.
NEW YORK, United States, Sept. 05, 2022 (GLOBE NEWSWIRE) -- According to Facts and Factors has published a new research report titled “Automated Storage And Retrieval System (ASRS) Market Size, Share, Growth Analysis Report By Type (Unit Load, Mid Load, VLM, Carousel, Mini Load), By Application (Automotive, Metals & Heavy Machinery, Food & Beverages, Chemicals, Healthcare, Semiconductor & Electronics, Retail, Aviation, E-commerce, Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Automated Storage and Retrieval System (ASRS) Market size & share in terms of revenue was valued at USD 7,294.50 million in 2021 and it is expected to surpass around USD 10,824.87 million mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 6.80% during the forecast period 2022 to 2028.”
ASRS is stock management technology commonly used in manufacturing facilities, fulfillment centers, and warehouses. They are composed of numerous computer-controlled devices for automatically moving loads from one place to another. Businesses are progressively implementing automation technology to manufacture high-quality goods, increase manufacturing capabilities, improve customer service, and efficiently manage their processes. As a result, these systems transport large quantities of freight since they help provide effective, precise, dependable, and inexpensive solutions.
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Facts and Factors research methodology
Market Size in 2021
USD 7,294.50 Million
Projected Market Size in 2028
USD 10,824.88 Million
CAGR Growth Rate
Key Market Players
DAIFUKU, MURATA MACHINERY, SSI SCHAEFER, TGW LOGISTICS, KARDEX, TOYOTA INDUSTRIES, BEUMER, KION, KNAPP, MECALUX, KUKA, SYSTEM LOGISTICS, VANDERLANDE, HONEYWELL INTERNATIONAL, and Others
By Type, Application, and Region
Major Regions Covered
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
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Market Growth Dynamics
Organizations are under pressure to rely more on machinery for increased productivity and accuracy due to the rapid digitalization occurring around the globe among all industry verticals and a very high production rate. Technology is available at various prices, dimensions, working speeds, compelling designs, and extremely effective placement and retrieving facilities. These sophisticated machine arrangements can be adjusted to specific areas. AS/RS mechanization reduces travel time and makes it simple to manage a variety of product stocks.
The global automated storage and retrieval system (ASRS) market is anticipated to develop in the upcoming years due to the quick transition to e-commerce platforms, the increasing importance of automated storage systems, and high investments in automating industrial and moving materials activities. Manufacturers have greatly increased their manufacturing to meet this rapidly growing demand. Increased output, however, necessitates the considerable need for economical storage areas in terms of both utilized storage space and expense.
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COVID-19 Impact Analysis
Before the rapid spread of this global disease, which began as a regional emergency but swiftly escalated to a pandemic, COVID-19 was mostly unknown. COVID-19 has had an impact on virtually all of the world's industries due to the fact that it tampered with the supply chain and disrupted a large number of industrial processes. The vast majority of companies have either completely halted all production or are operating at or below their capacity. Because of the government's reactions to COVID-19, including lockdowns and social isolation, production facilities were forced to shut down at an early stage in the pandemic. The implementation of COVID-19 has resulted in a rise in the need for automatic storage and retrieval systems (ASRS) in e-commerce as well as automatic storage and retrieval systems (ASRS) in the automobile industry.
The global automated storage and retrieval system (ASRS) market is segregated based on type, industry, and region.
Based on type, the market is classified into a unit load, mid load, VLM, carousel, and mini-load. In 2021, the unit load category dominated the global market. Based on industry, the global market is segmented into automotive, metals & heavy machinery, food & beverages, chemicals, healthcare, semiconductor & electronics, retail, aviation, e-commerce, and others. The food & beverages segments are anticipated to have the highest share in this market in 2021.
Some of the main competitors dominating the global Automated Storage and Retrieval System (ASRS) market include -
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Key Insights from Primary Research:
As per the analysis shared by our research analyst, the Automated Storage and Retrieval System (ASRS) market is estimated to grow annually at a CAGR of around 6.80% over the forecast period (2022-2028).
In Terms Of Revenue, The Automated Storage and Retrieval System (ASRS) market size was valued at around US$ 7,294.50 Million in 2021 and is projected to reach US$ 10824.87 Million by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
By type, the unit load category dominated the market in 2021.
By application, the food & beverages category dominated the market in 2021.
North America dominated the global automated storage and retrieval system (ASRS) market in 2021.
Key questions answered in this report:
What is the market size and growth rate forecast for Automated Storage and Retrieval System (ASRS) industry?
What are the main driving factors propelling the Automated Storage and Retrieval System (ASRS) Market forward?
What are the leading companies in the Automated Storage and Retrieval System (ASRS) Industry?
What segments does the Automated Storage and Retrieval System (ASRS) Market cover?
How can I receive a free copy of the Automated Storage and Retrieval System (ASRS) Market sample report and company profiles?
The global automated storage and retrieval system (ASRS) market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. North America dominated the automated storage and retrieval system (ASRS) market in 2021. The increased adoption of big data technologies by businesses to enhance consumer target marketing and risk management capabilities drives the regional market growth.
Additionally, during the projected period, the region's automated storage and retrieval system (ASRS) market would rise due to the expansion of infrastructure and industrial development, which allowed manufacturers of automated storage systems to increase their penetration in several nations.
May 2021: Third Wave Automation and Toyota Industries collaborated to create the next generation of autonomous material handling vehicles. The eventual growth in production and distribution of high-quality goods will result from integrating intelligent robots into material handling machinery.
August 2020: Alpen Co. Ltd and Murata Machinery Ltd have agreed to work together to build "ALPHABET," Japan's first 3D robot warehouse system. One of the key distribution centers for the Alpen Group, the Alpen Komaki Distribution Center, will use ALPHABET to increase its storage capacity and cut down picking, sorting, and packaging tasks by almost 60%. The system is expected to start working in July 2021.
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The global Automated Storage and Retrieval System (ASRS) market is segmented as follows:
Metals & Heavy Machinery
Food & Beverages
Semiconductor & Electronics
Rest of North America
Rest of Europe
Rest of Asia Pacific
The Middle East & Africa
Rest of the Middle East & Africa
Rest of Latin America
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