April 15, 2024

Automated Storage And Retrieval Systems (ASRS) Is The Largest Segment Driving The Growth Of Automated Storage And Retrieval System Market

Market Overview:

Automated storage and retrieval systems, also known as AS/RS, are computer-controlled systems that automatically handle the storage and retrieval of loads with high accuracy and efficiency. The advent of robotics and material handling technologies are making ASRS more advanced and eliminating manual lifting and carrying of loads.

Market key trends:

One of the key trends in the automated storage and retrieval system market is the emergence of autonomous mobile robots (AMRs). AMRs can function without human intervention and travel autonomously within closed facilities like warehouses. They are equipped with advanced sensors and vision systems for navigation. AMR integrated ASRS helps in eliminating downtime of storage and retrieval systems by automating material movements within facilities. They also provide flexibility of operation and enable 24/7 functioning of warehouses without human supervision.

SWOT Analysis
Strength: Automated Storage and Retrieval Systems have higher productivity and efficiency compared to traditional warehouses. They provide accuracy in order fulfillment and reduce errors.
Weakness: High initial installation and maintenance costs. Require skilled workforce for operation and maintenance.
Opportunity: Growing e-commerce industry is expected to drive the demand for Automated Storage and Retrieval Systems. Technological advancements are allowing increased customization and flexibility.
Threats: Presence of alternative automated material handling systems. Downtime caused due to technical glitches can disrupt operations.

Key Takeaways
The Global Automated Storage And Retrieval System Market Demand is expected to witness high growth, exhibiting CAGR of 7.1% over the forecast period, due to increasing automation and emphasis on warehouse optimization.

Regional analysis
North America dominated the market in 2022 with over 30% share owing to presence of global players and trend of warehouse automation adoption among industries. Asia Pacific is expected to grow at fastest rate during forecast period supported by growth in e-commerce industry and expansion of manufacturing industry in China and India.
Key players operating in the Automated Storage and Retrieval System market are Murata Machinery, Ltd., Honeywell Intelligrated, Bastian Solutions, Inc., Dematic, TGW Logistics Group, Daifuku Co., Ltd., KNAPP AG, Beumer Group, SSI Schaefer Group, and Kardex Group. Key players are focusing on development of innovative and customized solutions to expand market share. They are also involved in mergers and acquisitions for geographical and product portfolio expansion.

Note:

  1. Source: Coherent Market Insights, Public sources, Desk research

   2. We have leveraged AI tools to mine information and compile it