Automated Storage and Retrieval System Market Size & Share


Automated Storage and Retrieval System Market

The Automated Storage and Retrieval System Market size was valued at USD 6,900 Million in 2019 and is anticipated to grow at a CAGR of 8% over the forecast period (2020-2027).

The factors driving the growth of Automated Storage and Retrieval System Market includes growing demand for Automated Storage and Retrieval System in manufacturing and distribution facilities, increasing labor cost and growing sales in e-commerce industry. As per IBEF’s Report, the E-commerce market will become the third largest with valuation of US$ 350 billion by 2030, which will increase the Automated Storage and Retrieval System Market size in India. The emerging need for automation in industrial sectors to enhance the manufacturing capabilities and growing focus on improving the workplace safety, are further supplementing the growth of Automated Storage and Retrieval System Market.

However, the growth of Automated Storage and Retrieval System Market is hindered due to high initial capital cost for installation of Automated Storage and Retrieval Systems (ASRS) and inadequate skilled workforce.

Type: Segment Analysis

Based on the type, the autostore segment is anticipated to grow at a faster CAGR over the forecast. The growing demand for ASRS in managing material flow, along with its ability to enhance product throughput and providing real-time management data, are some of the factors accelerating the growth of the segment.

Function: Segment Analysis

Based on the function, the storage segment is expected to expand at a significant CAGR over the forecast period. The increasing use of ASRS in end-use industries such as healthcare, food & beverages and automotive, along with its ability to enhance the storage capacity of the manufacturing plant, are some of the factors augmenting the market growth.

Industry: Segment Analysis

Based on the industry, the retail segment is projected to dominate the market over the forecast period. The rising use of ASRS to monitor product inventory, its ability to save time and growing emphasis on enhancing the overall costumer experience around the world, are some of the factors pushing the growth of the segment.

Regional: Segment Analysis

Based on the region, Europe is estimated to dominate the market during the forecast period due to the presence of major key players, increasing investments in automated material handling equipment, along with increasing labor cost. The automotive industry in Germany is the biggest in the World, which will increase the demand for ASRS in the coming years. 

Market Segmentation:

Global Automated Storage and Retrieval System (ASRS) Market by Type          

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

Global Automated Storage and Retrieval System (ASRS) Market by Function

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

Global Automated Storage and Retrieval System (ASRS) Market by Industry

  • Automotive
  • Metals & Heavy Machinery
  • Food & Beverages
  • Chemicals
  • Healthcare
  • Semiconductors & Electronics
  • Retail
  • Aviation
  • E-Commerce
  • Others

Global Microgrid Controller Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

 About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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