The Global Automated Storage and Retrieval System (ASRS) Market accounted for US$ 6,507.2 Mn in 2016 and is expected to grow at a CAGR of 8.7% during the forecast period 2016 – 2025, to account for US$ 13,808.2 in 2025.
The Automated Storage and Retrieval System (ASRS) market has experienced significant growth and adoption rate in the past few years and is expected to experience notable growth and adoption in years to come. ASRS systems also play important role in robotics; where they are used to guide the autonomous robots called as ‘self-navigating robots’. Various industries such as electronics, automotive, aerospace, food & beverage, pharmaceuticals and electronics are pretty concerned about reducing labor intensive processes, increasing accuracy and speed for the task of storage and then retrieval of their products whenever required. A variety of ASRS systems are available in the market out of which many systems are highly flexible and can be relocated. Other benefits include improved ergonomics, better inventory control, workplace safety and others. Asia Pacific Automated Storage and Retrieval System (ASRS) market region is expected to witness a CAGR growth rate of 11.1% in the coming years.
Exhibit: Automated Storage and Retrieval System (ASRS) Market by Region
Rising demand for strategically managed supply chain
Rapid digitization across the globe along with significantly high production rate, is pressurizing the organizations to rely more on machines for enhanced productivity and accuracy. In this era of automation, these automated and programmed machineries play a vital role in reducing the associated cost and time, and provide additional features of control, monitoring, and security. Supply chain is one of the key source of competitive advantage for companies that drive growth in their businesses. Supply chain systems have gained wider and vital importance in the last few years, as a result of high competition in the product based market. Automated Storage and Retrieval Systems support the operational flow of the supply chain at the initial stage. ASRS are applied in slow and medium moving order fulfillment and inventory management applications, ensuring increase in efficiencies. This factor is strengthening the growth of Automated Storage and Retrieval System (ASRS) market.
Growing e-commerce industry bringing-in more automated storage solutions
The development of e-commerce industry goes hand-in-hand with prosperity of the automated storage industry. Stocking of products sold by e-commerce sellers is stored in warehouses, and to reduce time for sorting and stocking of these products, ASRS seem to be the best tools. The advent of automation into other industries including manufacturing, marketing, supply chain, and more have brought a revolutionary change in the way businesses are done. Each and every aspect is now being substituted by appropriate automation mechanism that provides an opportunity to increase its work efficiency and also productivity. A spike on the demand side has forced businesses to move on to operations that take less time and increase efficiency. Also, the e-commerce industry is witnessing its peak periods and is one of the biggest users of the automated storage systems. Thus, with the growth of e-commerce in the coming years, the Automated Storage and Retrieval System (ASRS) market is anticipated to flourish.
Automated Storage and Retrieval System (ASRS) Market – Type Insight
The global Automated Storage and Retrieval System (ASRS) market by types is segmented into categories namely; Unit Load ASRS, Mini Load ASRS, Carousels, Vertical Lift Modules (VLM), and Others. Carousel storages could be vertical as well as horizontal. All these storage systems fulfill the needs of various end-user industries for efficient storage purposes in the warehouses, and also their retrieval as and when needed by the customer saving on space, time, and costs. Vertical Lift Modules are the next generation automated systems mainly used in industrial applications for sorting, storage, and retrieval of items for an operator in a warehouse. These systems play major roles in robotics; where these are used to guide the autonomous robots also known as ‘self-navigating robots’. Various industries such as electronics, automotive, aerospace, food & beverage, pharmaceuticals and electronics are pretty concerned about reducing labor intensive processes, increasing accuracy and speed for the task of storage and then retrieval of their products whenever required. Vertical Lift Modules can perform complex repetitive tasks with higher accuracy and consistency. The components for vertical lift modules include two vertical column of trays and an inserter/ extractor machine which are driven by a software to execute the storage or retrieval application. The modular design of VLM also allows access from multiple floors in the building. Major industry sectors generating demand for vertical lift modules are automotive, e-commerce, logistics, and pharmaceutical among others. Air condition or climate control functionality available in vertical lifts module is one of the major factors that is pushing the demand of VLM. VLM is the fastest growing Automated Storage and Retrieval System (ASRS) market segment and is expected to grow at a prestigious CAGR of 9.5% during the forecast period.
Exhibit: Automated Storage and Retrieval System (ASRS) market by VLM
Automated Storage and Retrieval System (ASRS) Market – Application Insight
The automated storage and retrieval systems find their applications in many industries. The major end-users for automated storage and retrieval systems automotive, food & beverage, electronics, retail, e-commerce, logistics, aerospace, pharmaceuticals and others. The others segment comprises of industry verticals that occupy a smaller share in the market and include agriculture, construction, and oil & gas industry that have started using automated storage and retrieval systems for storage purposes to a certain limited extent. Pharmaceutical industry has been one of the highly regulated industries for 100% quality control compared to any other industry. Precision is one of the important aspects of any production activity. Extreme hygienic conditions are required in any pharmaceutical manufacturing process. ASRS such as VLMs offer dust-protection concept to safeguard these products to come in contact with any foreign particles. Also, the trays in the VLMs can be effectively divided from each other to ensure that different products are stored separately. Furthermore, VLMs with additional air-conditioning functions can be installed by these pharmaceutical companies to store products that are highly sensitive to temperature fluctuations. Thus, the pharmaceutical sector is highly investing in ASRS automated storage and retrieval system (ASRS) market to maintain proper hygiene required for products as well as effective and efficient storage and retrieval functions.
The market initiative and new development was observed as the most adopted strategy in global Automated Storage and Retrieval System (ASRS) Market. Few of the recent strategies by some of the players operating in Automated Storage and Retrieval System (ASRS) Market landscape are listed below-
2017: Bastian Solutions has expanded its consulting services in Mexico with a view to tap larger market opportunities.
2017: Toyota Industries Corporation to acquire Vanderlande.
2016: System Logistics SpA announced that it has acquired Illinois Tool Works Inc.’s Vertique business through System Logistics Corporation.
2016: Mecalux will automate the JC Valves warehouse to streamline storage and speed up order preparation
GLOBAL AUTOMATED STORAGE AND RETRIEVAL SYSTEM (ASRS) MARKET – SEGMENTATIONGLOBAL AUTOMATED STORAGE AND RETRIEVAL SYSTEM (ASRS) MARKET – BY TYPES