Automated Storage and Retrieval System (ASRS) Market by Function, Type, Micro Fulfillment Center, Dark Stores, Industry and Region - Global Forecast to 2027 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Automated Storage and Retrieval System (ASRS) Market by Function (Storage, Distribution, Assembly), Type (Unit Load, Mini Load, Vertical Lift Module, Carousel, Mid Load), Micro Fulfillment Center, Dark Stores, Industry and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global ASRS market size is anticipated to grow from USD 8.3 billion in 2022 to USD 11.8 billion by 2027, at a CAGR of 7.4% from 2022 to 2027. 

Unit load to contribute largest market share from 2022 to 2027.

Unit load ASRS has a wide range of applications in consumer goods, automotive, publishing, electronic, food & beverage, pharmaceutical and medical supplies, retail and apparel, and other industries.

ASRS offers several benefits in distribution, warehousing, and manufacturing environments in order to reduce work-in-progress inventory, enhance product quality, increase productivity and provide real-time inventory control. It also enhances workforce productivity and raise order accuracy and customer services ensuring high throughput, density storage, and reliability, along with damage-free operations.

Automotive industry is expected to contribute a significant market share in the ASRS market during the forecast period.

The automotive industry contributed the largest market share in 2022. The main purpose of ASRS in the automotive industry is to support raw material handling and moving spare parts and goods to manufacturing units and warehouses.

ASRS also provides the industry with better conveyor systems for automotive assembly plants reducing workers' load and enabling easy movement of heavy parts and a high volume of applications performed. Some major providers of ASRS for the automotive industry include Daifuku, Toyota Industries, and JBT.

Europe is expected to account for the second-largest market share during the forecast period.

Europe has become an attractive market for ASRS manufacturing companies worldwide due to well-established companies having innovative machinery and equipment.

Several companies based out of North America, Asia Pacific, and Japan have established their operations in Europe to tap and capture European customers; for instance, top companies such as Daifuku, JBT, and Scott Technology are looking for growth in the European market.

Market Dynamics

Drivers

• Better Floor Space Utilization and Reduced Labor Requirements and Costs by Adopting ASRS
• Increasing Penetration of ASRS in E-Commerce Industry
• Greater Focus on Inventory Management and Control
• Accelerating Demand for ASRS in Automotive Industry

Restraints

• High Initial Investments and Repair Cost
• Inadequate Technical Expertise to Manage System Operations

Opportunities

• Substantial Growth in Demand for Cold Chain Systems in Asia-Pacific
• Growth Prospects in Healthcare Industry

Challenges

• Reduction in Operational Efficiency Due to Technical Faults and Significant Downtime
• Development of Flexible and Scalable ASRS Solutions Owing to Constant Technological Advances

Companies Mentioned

• Autocrib
• Automation Logistics
• Beumer
• Daifuku
• Ferretto
• Haenel Storage System
• Honeywell International
• IHI
• Invata Intralogistics
• Kardex
• Kion
• Knapp
• Kuka
• Mecalux
• Mias
• Murata Machinery
• Ocado
• Sencorpwhite
• Ssi Schaefer
• System Logistics
• TGW Logistics
• Toyota Industries
• Viastore Systems
• Vidmar
• Westfalia Technologies
• Witron

For more information about this report visit https://www.researchandmarkets.com/r/lk5gcx