Automatic storage and storage by load (unit, micro, micro), type (VLM, carousel, VBM, shuttle), application, end user (automotive, healthcare, food and beverage, semiconductor, manufacturing, retail, warehousing) Retrieval System Market-Global Forecast to 2028
Redding, California, November 10, 2021 (GLOBE NEWSWIRE) - According to a report entitled "Automatic storage and retrieval by load (unit, micro, micro), type (VLM, carousel, VBM, shuttle) System market "new market research reports, applications, end users (automotive, healthcare, food and beverage, semiconductor, manufacturing, retail, warehousing) and geography-global forecast to 2028", published by Meticulous Research®, expected to be automatically The storage and retrieval system market will grow from 2021 to 2028, with a compound annual growth rate of 5.8%, and will reach 7.04 billion US dollars by 2028.
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Automated Storage and Retrieval System (AS/RS) is a warehouse automation system designed to store, buffer, and retrieve products and inventory on demand. Automated storage and retrieval systems, sometimes referred to as ASRS or AS/RS, consist of various computer control systems that can accurately, accurately and quickly automatically place and retrieve loads from set storage locations in the facility.
It is one of the most influential and popular investment advice for manufacturing and warehousing organizations. Due to continuous technological upgrades, the latest version of AS/RS technology provides a variety of speeds, sizes, costs and flexibility, thereby increasing the adoption rate of the entire system.
The growth of this market is mainly due to the growing demand for fast, accurate and efficient fulfillment of in-store retail; increased industrial automation; and the continuous technological development of ASRS supported by cutting-edge sensors. In addition, the demand for efficient storage systems continues to increase, local governments are increasingly supporting the focus on improving digital infrastructure, increasing the speed and number of orders in the e-commerce sector, increasing the deployment of ASRS by SMEs, and the increasing need to reduce Interpersonal communication and minimizing errors have further contributed to market growth. However, factors such as high initial cost and lengthy installation process hinder the growth of the market. In addition, the unwillingness to deploy automated systems, especially in developing countries, is considered a challenging factor affecting market growth.
The impact of COVID-19 on the market of automatic storage and retrieval systems
Due to the lockdown implemented in the second and third quarters of 2020, the COVID-19 pandemic has brought several challenges to the automated storage and retrieval system market. The pandemic is changing consumer behavior patterns, and consumers increasingly prefer online channels. Industries such as e-commerce, pharmaceuticals, and food and beverages have begun to recover from the economic setbacks suffered during the pandemic. Due to order delays and postponements, the automated storage and retrieval system market was moderately affected by the COVID-19 pandemic, but recovered quickly from the last quarter of 2020.
ASRS providers plan to move forward and take advantage of the lucrative market growth opportunities brought about by the COVID-19 pandemic. It is expected that the ASRS market will undergo tremendous changes in the next few years. Several leading companies are developing rapidly through e-commerce channels, and B2B buyers increasingly prefer online channels instead of physical stores. Various industries are increasingly investing in ASRS solutions to improve the efficiency of the material handling process. Therefore, the rapid transition to an e-commerce platform, increasing emphasis on automated storage systems, and increased investment in automated industries and material handling processes are expected to create opportunities for the growth of the ASRS market in the next few years.
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The acceptance of advanced storage and retrieval systems in multiple vertical industries continues to increase to drive market growth
The deployment of automated storage and retrieval systems is helping multiple organizations simplify their product and material storage processes and provide additional space in warehouses. The industry is further aware that the use of such systems reduces the risk of accidents during the material stacking process and speeds up the operation process, which is essential for handling fragile materials. Therefore, with the deployment of these systems, the overall efficiency of material handling has been improved, which has led to market adoption.
Automatic storage and retrieval systems are being widely adopted by multiple vertical industries, namely aviation, automotive, food and beverage, and retail and consumer products. For example, in April 2021, UPS Global Logistics and Distribution deployed a leading automated storage and retrieval system in the Dutch department to increase space for its existing fulfillment center without building another warehouse. Therefore, the company managed to optimize the footprint and increase the throughput of order fulfillment.
In order to provide effective analysis, Meticulous Research® is based on load (unit, micro and micro), type (VLM, conveyor belt, VBM and shuttle), application, end user (automotive, healthcare, food and beverage, semiconductor, manufacturing, retail And storage) and geography.
According to the load, the AS/RS market is divided into unit, mini, and micro. By 2021, due to the increasing demand for highly compact, advanced and cost-effective storage systems, it is expected that the unit load ASRS segment will account for the largest share of the entire automated storage and retrieval system market; Growing demand; and limited warehouse space. As organizations increasingly focus on the quadruple inventory capacity of factory infrastructure, this segment is expected to achieve the fastest compound annual growth rate during the forecast period.
According to the type, the AS/RS market is segmented into VLM, carousel, crane-based, vertical buffer module, robotic shuttle, and floor robot. In 2021, due to the continuous surge in picking demand, the increasing demand for cutting-edge retrieval systems, and the continuous development of industrial automation, the ground robot segment is expected to account for the largest share of the entire automated storage and retrieval system market. Due to increasing emphasis on improving warehouse floor utilization, it is expected that the department’s compound annual growth rate during the forecast period will also reach the fastest.
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According to the application, the AS/RS market is segmented into storage, order picking, matching, buffering, etc. By 2021, due to the increasing demand for precise and fast storage systems, the continuous growth of orders in online channels, and the vigorous development of the e-commerce field, the storage field is expected to account for the largest share of the entire automated storage and retrieval system market. In addition, As more and more automated cold chain storage systems are deployed for key healthcare and food and beverage products, and to minimize damage to goods in transit, this segment is also expected to achieve the fastest compound annual growth rate during the forecast period .
According to end users, the AS/RS market is segmented into automotive, semiconductor and electronics, general manufacturing, retail and warehousing or logistics, aviation, chemicals, rubber and plastics, healthcare and pharmaceuticals, food and beverages, post and parcels, and others . By 2021, the automotive sector is estimated to account for the largest share of the entire automatic storage and retrieval system market. This is due to the increasing concentration of smart car factories, increasing demand to reduce dependence on intermediate logistics providers, and speeding up the time to market. However, factors such as increased investment in improving healthcare infrastructure, increasing emphasis on reducing hospital operating costs, improving patient response time, and complying with the stringent requirements of government regulations to maintain the best healthcare environment are expected to support the highest levels of healthcare and pharmaceutical industries. Market segments during the forecast period of rapid growth.
Geographically, the global AS/RS market is divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. It is expected that by 2021, the European region will account for the largest share of the global automatic storage and retrieval system market. The majority of the region’s share is mainly due to supporting IT infrastructure, high acceptance of automated systems, easy access to automated storage and retrieval systems, the growing prominence of Industry 4.0, and the presence of major ASRS companies. However, due to factors such as increased investment in automation, increased awareness of SMEs, booming e-commerce industry, transformation of warehouse infrastructure, and fast-growing industrialization actively supported by the government, the Asia-Pacific region is expected to record the fastest compounding year during the forecast period growth rate. initiative.
The main players operating in the global automated storage and retrieval system market are Daifuku Co., Ltd. (Japan), SSI SCHAEFER AG (Germany), Dematic (United States), Honeywell Intelligrated (United States), Toyota Industries Corporation (Japan), Murata Machinery, Ltd. (Japan), KNAPP AG (Austria), BEUMER Group GmbH (Germany), Swisslog Holding AG (Switzerland), Material Handling Systems (USA), TGW Logistics Group (Austria), WITRON Logistik Infomatik GmbH (Germany), Kardex Group (Switzerland), System Logistics SpA (Italy), viastore SYSTEMS GmbH (Germany), Jungheinrich AG (Germany), MATTER Srl (Italy), Mecalux, SA (Spain) and Craftsman Storage Systems (India), etc.
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Automatic storage and retrieval system market, by load
Automatic storage and retrieval system market, by type
Automatic storage and retrieval system market, by application
Automated storage and retrieval system market for end users
Retail and warehousing or logistics
Automatic storage and retrieval system market, by geographic location
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