The automated storage and retrieval system, also known as AS/RS, is a warehouse storage system that enables high-density storage with efficient retrieval of items through a combination of robotic hardware and software. AS/RS systems facilitate storage and retrieval of palletized and non-palletized loads using shuttles or cranes in a manner similar to library shelving systems. They maximize product storage in a small facility footprint by vertically stacking inventory on racks that can reach up to 50 feet or more in height. With decreasing costs and the growing emphasis on productivity and accuracy, AS/RS solutions have become crucial for e-commerce fulfillment centers and warehouses dealing with high-volume product handling.
The global Automated Storage and Retrieval System Market is estimated to be valued at US$ 9833.58 Mn in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: One of the key trends in the automated storage and retrieval system market is the increasing demand for modular and scalable solutions. Modular AS/RS allow for easy future expansions of existing systems as warehousing needs grow. This modular approach facilitates convenient integration with other warehouse management systems and material handling equipment. Leading AS/RS providers are focusing on developing modular solutions that are pre-engineered for hassle-free installations. With the growing complexity of e-commerce fulfillment processes, there is also a rising demand for software tools that integrate AS/RS technology with warehouse management systems, ERP solutions, and other technologies for advanced operation and analytics.
Porter’s Analysis
Threat of new entrants: Low to moderate as automation companies requires high capital investment in R&D.
Bargaining power of buyers: Moderate to high as buyers have high bargaining power to negotiate on price and demand flexibility in automation systems.
Bargaining power of suppliers: Low as suppliers don’t have significant influence over buyers due to availability of substitutes.
Threat of new substitutes: Low as few substitutes are available for automated storage and retrieval systems.
Competitive rivalry: Intense as key players focus on expanding product portfolio through mergers and acquisitions.
Key Takeaways
The Global Automated Storage And Retrieval System Market Growth is expected to witness high. The global Automated Storage and Retrieval System Market is estimated to be valued at US$ 9833.58 Mn in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023 to 2030.
The Asia Pacific region is expected to witness fastest growth in the market during the forecast period owing to increasing industrialization and growth of e-commerce industry in emerging economies such as China and India. North America dominates the global automated storage and retrieval market primarily due to high demand from industries such as automotive, food & beverage, and healthcare. Europe also captured significant market share in 2021 due to growing automotive sector.
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. The presence of established players has led to high competitive rivalry in the market. These players are majorly focusing on product innovation and mergers & acquisitions to strengthen their market position.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
