by Automated Storage and Retrieval System or AS/RS are computer-controlled systems used for automatically placing and retrieving loads from defined storage locations. AS/RS are widely adopted across industries like e-commerce, automotive, and food and beverage for better inventory management and order fulfillment process.
The global Automated Storage and Retrieval System Market is estimated to be valued at US$ 9.6 billion 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:
Modern AS/RS architectures leverage robotics for greater flexibility and scalability. Integration of autonomous mobile robots allows seamless material handling within automated warehouses and distribution centers. Robotic picker arms precisely select inventory from storage racks for order fulfillment. Advanced robotics is enabling revolutionary automated warehouse designs for maximizing storage density and fulfillment throughput.
SWOT Analysis
Strength: Automated storage and retrieval systems are highly efficient and save warehouse space. They allow for faster retrieving and storing of items compared to traditional storage systems.
Weakness: Initial investment required for installing automated storage and retrieval systems is high. There is also requirement of skilled personnel for maintenance and operation of these systems.
Opportunity: Growing e-commerce industry is creating demand for automation in warehouses and distribution centers. This is driving the growth of automated storage and retrieval systems market. Adoption of Industry 4.0 technologies also allows for integration of these systems.
Threats: Presence of alternative material handling equipment such as conveyor systems, Automatic Guided Vehicles poses competition. Technical issues and downtime also impact market growth negatively.
Key Takeaways
The Global Automated Storage And Retrieval System Market Size is expected to witness high growth.
Regional analysis shows that North America dominates the automated storage and retrieval systems market currently due to strong presence of organized retail and e-commerce sectors. Asia Pacific region is expected to be the fastest growing market during the forecast period owing to rising labor costs and increasing focus on automation by manufacturing companies in countries like China and India.
Key players operating in the automated storage and retrieval system market are Daifuku Co., Ltd., SSI Schaefer Group, Murata Machinery, Ltd., Knapp AG, TGW Logistics Group GmbH, Kardex Group, Swisslog Holding AG, Mecalux S.A., Vanderlande Industries BV, System Logistics Corporation, Bastian Solutions, Inc., Beumer Group, Dematic GmbH & Co. KG, and Witron Logistik + Informatik GmbH.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
