Automated Storage and Retrieval System (ASRS) Market Size, Share, Growth Report 2032

Automated Storage and Retrieval System (ASRS) Market

Automated Storage and Retrieval System (ASRS) Market By Type (Unit Load, Mini Load, Vertical Lift Module, Carousel, Mid Load, And Autostore); By Function (Assembly, Kitting, Order Picking, Distribution, Storage, And Others); By Industry (Automotive, Chemicals, Aviation, Electronics And Semiconductor, E-Commerce, Food And Beverages, Healthcare, Metal And Heavy Machinery, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024–2032

Category: Heavy Industry Report Format : PDF Pages: 110 Report Code: ZMR-2753 Published Date: Apr-2024 Status : Published
Market Size in 2023 Market Forecast in 2032 CAGR (in %) Base Year
USD 8.74 Billion USD 17.33 Billion 7.90% 2023

Automated Storage and Retrieval System Market

The global automated storage and retrieval system market size was worth around USD 8.74 billion in 2023 and is predicted to grow to around USD 17.33 billion by 2032 with a compound annual growth rate (CAGR) of roughly 7.90% between 2024 and 2032.

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Automated Storage and Retrieval System (ASRS) Market: Overview

Automated Storage and Retrieval System (ASRS) is a computer-controlled system which is basically used for retrieving loads and automatically placing goods from predefined storage locations. ASRS is adopted by various industries such as textile, automotive, chemicals, e-commerce, food & beverages, and others. Automated storage and retrieval systems reduce the labor cost and increase the productivity and efficiency of the business. 

Automated storage and retrieval systems provide benefits such as:

  • High volume of loads can be moved in and out of storage places with ease
  • Provide good storage density 
  • Can control real-time inventory 
  • Better handling ability
  • Eliminates the need for physical inventory inspections

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Automated Storage and Retrieval System Market: Drivers and Restraints

The key factors that are driving the automated storage and retrieval system market are the growing need for space optimization and reducing human labor. The major factor driving the growth of the global automated storage and retrieval system (ASRS) market is increasing demand for consumer electronic products across the world. Continuous innovation and technological advancements such as artificial intelligence, IoT and virtual reality in consumer electronic products have boosted the demand for this industry.

The high demand for consumer electronic products across the globe has created the need for automated storage and retrieval system in consumer electronics industry for managing inventory and picking and storing materials. In addition, automotive industry is anticipated to propel the growth of automated storage and retrieval system market in near future. Increasing demand for electric car is the key driving factor for the growth of the automotive industry. In India, 11 cities are shortlisted by the ministry of heavy industries for the introduction of electric vehicles (EVs) in their public transport systems under the FAME (faster adoption and manufacturing of and electric vehicles in India) scheme.

The high initial investment required for automated storage and retrieval system can limit the growth of the market. However, automated storage and retrieval system can improve productivity and efficiency of the company and also reduces the labor cost. 

Automated Storage and Retrieval System Market: Segmentation

The automated storage and retrieval system market has been segmented on the basis of type, function, industry, and geographical regions.

By type, autostore segment is expected to register the highest growth between 2024 and 2032. Autostore system is a storage solution which provides complete configurability and flexibility. Autostore increases the speed and improves the quality of the internal logistics. However, unit load ASRS generated the highest revenue in 2023. 

On the basis of function, the market is segmented into assembly, kitting, order picking, distribution, storage, and others. Among this, order picking segment is anticipated to grow with highest CAGR between 2024 and 2032. ASRS is broadly used for picking orders in warehouses, manufacturing plants, and distributions centers. This automated storage and retrieval system picks up the finished orders from the manufacturing plants and transports it to warehouses and distribution centers.

The industry segment includes automotive, chemicals, aviation, electronics and semiconductor, e-commerce, food and beverages, healthcare, metal and heavy machinery, and others. Automotive industry held the largest market share of around 25% owing to increasing continuous demand from the automobile sector. Latest innovation in the automotive industry like driverless car is anticipated to boost the automotive industry. In addition, high investment in electric vehicle by major players such as Forbes, Maruti, Honda, and others are expected to change the scenario of the automotive industry in coming years. Considering these factors, the automotive segment will continue to dominate the market. 

Automated Storage and Retrieval System (ASRS) Market: Report Scope

Report Attributes Report Details
Report Name Automated Storage and Retrieval System (ASRS) Market Research Report
Market Size in 2023 USD 8.74 Billion
Market Forecast in 2032 USD 17.33 Billion
Growth Rate CAGR of 7.90%
Number of Pages 110
Key Companies Covered Arkrobot, Automation Logistics Corporation, Bastian Solutions, Inc., Beumer Group, Daifuku Co. Ltd., Dematic GmbH & Co. Kg, Flexe Inc., Green Automated Solutions, Kardex Group, Knapp AG, Kubo Systems, Mecalux S.A., Murata Machinery Ltd., SSI Schaefer Group, Swisslog Holding AG, System Logistics Corporation, TGW Logistics Group GmbH, and Vanderlande Industries BV.
Segments Covered By Type, By Function, By Industry, And By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2023
Historical Year 2018 to 2022
Forecast Year 2024 - 2032
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Automated Storage and Retrieval System Market: Regional Analysis

Asia Pacific ASRS market is estimated to register the highest CAGR growth during the forecasted period. Growing e-commerce industry is expected to trigger the growth of the automated storage and retrieval system market. The rising trend of online shopping, increased automotive industry, and innovation in consumer electronic products anticipates propelling the growth of the market. 

Automated Storage and Retrieval System Market: Competitive Analysis

The report also covers detailed competitive outlook including company profiles of the key participants operating in the global automated storage and retrieval system market. The key players included in this market are:

  • Arkrobot
  • Automation Logistics Corporation
  • Bastian Solutions Inc.
  • Beumer Group
  • Daifuku Co. Ltd.
  • Dematic GmbH & Co. Kg
  • Flexe Inc.
  • Green Automated Solutions
  • Kardex Group
  • Knapp AG
  • Kubo Systems
  • Mecalux S.A.
  • Murata Machinery Ltd.
  • SSI Schaefer Group
  • Swisslog Holding AG
  • System Logistics Corporation
  • TGW Logistics Group GmbH
  • Vanderlande Industries BV.

The global Automated Storage and Retrieval System Market is segmented as follows:

By Type 

  • Unit Load
  • Mini Load
  • Vertical Lift Module
  • Carousel
    • Vertical Carousel
    • Horizontal Carousel
  • Mid Load
  • Autostore

By Function

  • Assembly
  • Kitting
  • Order Picking
  • Distribution
  • Storage
  • Others

By Industry

  • Automotive
  • Chemicals
  • Aviation
  • Electronics and Semiconductor
  • E-commerce
  • Food and Beverages
  • Healthcare
  • Metal and Heavy Machinery
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

ASRS is a computer-controlled system which is basically used for retrieving loads and automatically placing goods from predefined storage locations.

According to study, the global Automated Storage and Retrieval System market size was worth around USD 8.74 billion in 2023 and is predicted to grow to around USD 17.33 billion by 2032.

The CAGR value of Automated Storage and Retrieval System  market is expected to be around 7.90% during 2024-2032.

Asia Pacific has been leading the global Automated Storage and Retrieval System (ASRS) market and is anticipated to continue on the dominant position in the years to come.

The global Automated Storage and Retrieval System (ASRS) market is led by players like Arkrobot, Automation Logistics Corporation, Bastian Solutions, Inc., Beumer Group, Daifuku Co. Ltd., Dematic GmbH & Co. Kg, Flexe Inc., Green Automated Solutions, Kardex Group, Knapp AG, Kubo Systems, Mecalux S.A., Murata Machinery, Ltd., SSI Schaefer Group, Swisslog Holding AG, System Logistics Corporation, TGW Logistics Group GmbH, and Vanderlande Industries BV.

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