London, Jan. 12, 2021 (GLOBE NEWSWIRE) — According to a new market research report titled, “Automated Storage and Retrieval Systems Market by Load (Unit, Mini, Micro), Type (VLM, Carousel, VBM, Shuttle), Application, End-user (Automotive, Healthcare, Food and Beverage, Semiconductor, Manufacturing, Retail, Warehousing)—Global Forecast to 2027”, the automated storage and retrieval systems market is expected to grow at a CAGR of 6% from 2020 to 2027 to reach $10.3 billion by 2027. Rising adoption of ASRS for warehouse automation, increasing order velocity & volume through online channels, rising need for fast & efficient fulfillment for in-store retailing, rapidly growing e-commerce sector, and growing investment and favorable government initiatives to revive the automotive industry are the key factors driving the growth of the ASRS market.
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Moreover, increasing investment capabilities of industrial users in emerging economies, the growing popularity of automated storage systems among SMEs, and increasing strategic partnerships among innovative technology providers & ASRS manufacturers to enhance their product portfolio are expected to propel the growth of the automated storage and retrieval systems market over the forecast period. However, high initial investments and the inaccessibility of proficient personnel may restrain the growth of this market.
The Impact of COVID-19 on the Automated Storage and Retrieval Systems Market
The COVID-19 outbreak severely impacted several industries and their suppliers during the second and third quarter of 2020. Manufacturers and suppliers across different sectors were forced to cut back on their production capacities and undertake cost-cutting measures owing to plunging demands. The outbreak introduced multiple new obstacles in the growth of the ASRS market, such as disrupted supply-chain operations, shortage of workforce, and limited availability of raw materials. Many companies are now focusing on increasing their automation investments due to the impact of the COVID-19 outbreak. According to the 2020 Honeywell Intelligrated Automation Investment Study, online purchases increased by 28% globally, and buy online/pickup-in-store increased by more than 60% in 2020.
The COVID-19 pandemic forced many industries to adapt to the rapidly changing circumstances to survive. Automation systems, particularly in groceries, warehousing, and logistics applications, have suddenly become even more valuable, as they can provide essential services without the risk of spreading the virus through human contact. While this is a rapidly changing situation, consumers are relying more on e-commerce and e-grocery for their basic needs. E-commerce is changing the game for companies investing in automated warehouses and order fulfillment. E-commerce and e-grocery retailers are witnessing stimulated demand. Thus, the demand for automated storage and retrieval systems will continue to be practically high in the coming years.
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The automated storage and retrieval systems market study presents historical market data (2018 & 2019), estimated current data (2020), and forecasts for 2027. The market is segmented by load (unit-load ASRS, mini-load ASRS, and micro-load ASRS), type (vertical lift modules, carousels, crane-based, vertical buffer modules, robotic shuttles, and floor robots), application (storage, order picking, kitting, and buffering), end user (automotive, healthcare, pharma, food & beverage, semiconductor & electronics, manufacturing, retail, warehousing, logistics, aviation, parcel & postal, and plastics). The study also evaluates industry competitors and analyzes the market at the country-level.
Based on load, in 2020, the unit-load ASRS segment accounted for the largest share of the overall automated storage and retrieval systems market. The large share of this segment is primarily attributed to the surging need to cater to shipping deadlines during peak times; rising necessity for highly compact, advanced, & cost-effective storage systems; limited warehouse space; and increasing focus on quadruple inventory capacity plant infrastructure. The segment is also slated to register the highest CAGR during the forecast period.
Based on type, in 2020, the floor robots segment accounted for the largest share of the overall automated storage and retrieval systems market. The large share of this segment is primarily attributed to the rising need for cutting-edge retrieval systems, a consistent surge in the piece picking requirements, growing industrial automation, and increased emphasis on enhancing warehouse floor utilization. The segment is also slated to register the highest CAGR during the forecast period.
Based on application, in 2020, the storage segment held the largest share of the overall automated storage and retrieval systems market. This was primarily attributed to the consistently growing order volume through online channels, rising need for precise and fast storage systems, booming e-commerce sector, growing deployment of automated cold chain storage systems for critical healthcare and food & beverage products, and minimizing goods damaged in transit. This segment is also slated to register the highest CAGR during the forecast period.
Based on end user, in 2020, the automotive segment accounted for the largest share of the overall automated storage and retrieval systems market. The large share of this segment is primarily attributed to the rising demand to reduce dependence on intermediary logistic providers, increasing concentration on smart automotive factories, rising need to expedite product market time, and gradual strengthening of the global automotive manufacturing network in terms of market value. However, factors such as the rising investment to improve healthcare infrastructure, rising emphasis on curtailing hospital operating costs & improving patient response time, and stringent mandates to meet government regulations for keeping optimum healthcare environment are expected to support the fastest growth of the healthcare & pharma segment during the forecast period.
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Based on geography, in 2020, Europe commanded the largest share of the global automated storage and retrieval systems market. The large share of this regional market is primarily attributed to factors, such as the extensive acceptance of automated systems, supportive IT infrastructure, easy accessibility to automated storage and retrieval systems, increased prominence of Industry 4.0, and the presence of major ASRS companies. However, APAC region is poised to record the highest CAGR during the forecast period because of factors such as the flourishing e-commerce sector, rising investment for automation, increasing perception among SMEs, transforming warehouse infrastructure, and rapidly growing industrialization supported by positive government initiatives.
The report also includes an extensive assessment of the key strategic developments by the leading market participants over the past four years. The automated storage and retrieval systems market has witnessed several new product launches & enhancements that enabled companies to broaden their product portfolios, expand the capabilities of existing products, and gain cost leadership in the automated storage and retrieval systems industry. For instance, in January 2020, Dematic, in partnership with Plenary and PCL Constructors Eastern Inc., started to build the world’s largest ASRS. The system is expected to be completed in 2022.
The automated storage and retrieval systems market is quite fragmented, with multiple international and local players striving to claim their market share. The major players operating in this market are Daifuku Co., Ltd. (Japan), SSI SCHAEFER AG (Germany), Dematic (U.S.), Honeywell Intelligrated (U.S.), Toyota Industries Corporation (Japan), Murata Machinery, Ltd. (Japan), KNAPP AG (Austria), BEUMER Group GmbH (Germany), Swisslog Holding AG (Switzerland), Material Handling Systems (U.S.), TGW Logistics Group (Austria), WITRON Logistik+Infomatik GmbH (Germany), Kardex Group (Switzerland), System Logistics S.p.A. (Italy), viastore SYSTEMS GmbH (Germany), Jungheinrich AG (Germany), MATTER Srl (Italy), Mecalux, S.A. (Spain), and Craftsman Storage Systems (India), among others.
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Scope of the Report:
Automated Storage and Retrieval Systems Market, by Load
- Fixed-aisle ASRS
- Movable-aisle ASRS
- Mini-load ASRS
- Micro-load ASRS
Automated Storage and Retrieval Systems Market, by Type
- Vertical Lift Modules
- Carousels
-
- Horizontal Carousels
- Vertical Carousels
- Crane-based
- Vertical Buffer Modules
- Robotic Shuttles
- Floor Robots
Automated Storage and Retrieval Systems Market, by Application
- Storage
- Order Picking
- Kitting
- Buffering
- Others
Automated Storage and Retrieval Systems Market, by End User
- Automotive
- Semiconductor and Electronics
- General Manufacturing
- Retail and Warehousing or Logistics
- Aviation
- Chemical, Rubber, and Plastic
- Healthcare and Pharma
- Food and Beverage
- Postal and Parcel
- Others
Automated Storage and Retrieval Systems Market, by Geography:
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Netherlands
- Switzerland
- Poland
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- South Korea
- Indonesia
- Malaysia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
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