The automated storage and retrieval system market was valued at US$ 2,417.6 million in 2020 and is projected to reach US$ 4,151.8 million by 2028; it is expected to grow at a CAGR of 6.9% from 2021 to 2028.
The development of the e-commerce industry goes together with the prosperity of the automated storage industry. Inventory sold by e-commerce sellers is stored in warehouses. To reduce the time for sorting and stocking of these products, automated storage and retrieval system seems to be one of the best tools. The purchasing pattern of consumers is moving toward online shopping. For instance, more than 60% of the population in the US is engaged in online shopping. Further, customers expect faster delivery time, owing to which e-commerce players are adopting automation in their processes. The fluctuations in demand for stock-keeping units (SKUs) create complexities in picking operations, which in turn, slows down the fulfilment process. The e-commerce demand is highly varying, owing to which the forward pick areas must be continuously adjusted to support the fluctuation in the demand for items. Along with managing SKU demand fluctuations, an automated storage and retrieval system also advances the fulfilment process, thus allowing e-commerce as well as omnichannel retailers to adhere better to service level agreements by fulfilling order delivery commitments.
The automated storage and retrieval system market is segmented into type and end user. Based on type, the market is further categorized into unit load ASRS, mini-load ASRS, vertical lift module, vertical carousels, horizontal carousels, AutoStore, and others. The vertical lift module segment represented the largest share of the overall market. Based on end user, the market is further categorized into automotive, electronics & semiconductors, food & beverages, e-commerce, aerospace, chemicals, pharmaceuticals, retail, and others. The e-commerce segment represented the largest share of the overall.
The overall automated storage and retrieval system market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the automated storage and retrieval system market with respect to all the segments. It also provides the overview and forecast for the global automated storage and retrieval system market based on all the segmentation provided with respect to five major regions?North America, Europe, Asia Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the automated storage and retrieval system market.
Major players operating in the global automated storage and retrieval system market include Bastian Solutions Inc.; Daifuku Co., Ltd.; KION GROUP AG; Kardex Group; Knapp AG; Mecalux, S.A.; SSI Schaefer Group; Swisslog Holding AG; System Logistics Spa; and Vanderlande Industries.