July 07, 2022 11:30 ET | Source: TBRC Business Research PVT LTD TBRC Business Research PVT LTD

LONDON, July 07, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the automated storage and retrieval system market, the increasing demand for automation is significantly driving the growth of the automated storage and retrieval system market. Automation refers to the application of technologies with minimal human intervention for producing and delivering goods and services. The majority of the industrial sectors are adopting automated systems such as automated storage and retrieval systems to cut back on errors, reduce repetitive tasks, and lower processing costs. The increasing demand for automation in industries is directly promoting the increased use of automated storage and retrieval systems.

For instance, according to the Future of Jobs Survey 2020 by the World Economic Forum, an international non-governmental and lobbying organization, 50% of business leaders are planning to adopt automation of repetitive tasks and 85% of business leaders said that automation will give them more time to focus on important goals for the company. Therefore, the increase in demand for automation is driving the growth of the automated storage and retrieval system market.

Request for a sample of the global automated storage and retrieval system market report

The global automated storage and retrieval system market size is expected to grow from $8.15 billion in 2021 to $8.8 billion in 2022 at a compound annual growth rate (CAGR) of 8.0%. The global ASRS market size is expected to grow to $12 billion in 2026 at a CAGR of 8.1%.

Technological advancements are shaping the automatic storage system and different types of retrieval system market. Major market players are developing advanced automated storage and retrieval systems with innovative technologies for industrial use to cut back on errors, reduce repetitive tasks, and lower processing costs. For instance, in November 2021, Honeywell International Inc. launched a new automated storage and retrieval system with machine learning and artificial intelligence to automate complex tasks in distribution centers, warehouses, and manufacturing sites to process, receive, and fill orders at a faster pace with more accuracy. These include a Smart Flexible Depalletizer to help automate the unloading of pallets manually.

Major players in the automated storage and retrieval system market are Schaefer Systems International Pvt. Ltd., Beumer Group, Daifuku Co. Ltd., Dematic, Honeywell International Inc., Kardex, Knapp AG, Murata Machinery Singapore Pte. Ltd., TGW Logistics Group, Swisslog Holding AG, Mecalux, System Logistics S.p.A., Vanderlande Industries, Westfalia Technologies, Inc., and KUKA Deutschland GmbH.

The global automated storage and retrieval system market is segmented by type into unit load, mid load, vertical lift module, carousel, mini load; by function into distribution, storage, assembly, kitting, order picking; by end-user into 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.

Western Europe was the largest region in the automated storage and retrieval system market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global automated storage and retrieval system market during the forecast period. The regions covered in the global automated storage and retrieval system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Automated Storage And Retrieval System Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide automated storage and retrieval system market overviews, automated storage and retrieval system market analyze and forecast market size and growth for the whole market, automated storage and retrieval system market segments and geographies, automated storage and retrieval system market trends, automated storage and retrieval system market drivers, automated storage and retrieval system market restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Not the market you are looking for? Check out some similar market intelligence reports:

Warehouse Automation Global Market Report 2022 – By Type (Conveyor/Sortation Systems, Automated Storage And Retrieval Systems (AS/RS), Mobile Robots, Warehouse Management Systems (WMS), Automatic Identification And Data Capture (AIDC)), By Component (Hardware, Software), By Function (Inbound, Picking, Outbound), By End User (General Merchandise, Healthcare, FMCG/Non-Durable Goods, Other End Users) – Market Size, Trends, And Global Forecast 2022-2026

Industrial Robots (Warehousing And Storage Robots) Market Report 2022 – By Product Type (Mobile Robots, Articulated Robots, Cylindrical Robots, SCARA Robots, Parallel Robots, Cartesian Robots), By Function (Pick & Place, Palletizing & De-Palletizing, Transportation, Packaging), By Application (E-Commerce, Automotive, Consumer Electronics, Food & Beverage, Healthcare) – Market Size, Trends, And Global Forecast 2022-2026

Warehouse Management System Global Market Report 2022 – By Offering (Software, Services), By Deployment (On Premises, Cloud), By Function (Labor Management System, Analytics And Optimization, Billing And Yard Management, Systems Integration And Maintenance), By Application (Transportation And Logistics, Healthcare, Retail, Manufacturing, Food And Beverage, Other Applications) – Market Size, Trends, And Global Forecast 2022-2026

Interested to know more about The Business Research Company?

The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.

The World’s Most Comprehensive Database

The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.