Report : Automated storage and retrieval system (ASRS) Market to 2027 - Global Analysis and Forecasts by Type (Unit Load ASRS, Mini Load ASRS, Vertical Lift Module, Vertical Carousels, Horizontal Carousels, AutoStore, and Others); End-user Industry (Automotive, Food & Beverages, Electronic & Semiconductors, E-Commerce, Chemicals, Aerospace, Retail, Pharmaceuticals, and Others)
In 2018, Europe is estimated to account for holding the largest market share, growing at a CAGR of 6.6%.
According to the new research report published by The Insight Partners, titled “Automated Storage and Retrieval System - Global Analysis and Forecast to 2027”, the global automated storage and retrieval system market is expected to reach US$ 4,616.1 Mn in 2027, registering a CAGR of 8.0% during the forecast period 2019-2027.
A number of industrial facilities and warehouses are increasing the use of automated solutions to enhance their profits, warehouse operations, comfort as well as worker safety. An ASRS consists of several computer-controlled methods that enable the placement of loads and picking up a function of the load from a storage location. They best serve their purpose at places where high volumes of capacity need to be moved, stored, or retrieved more economically. These systems increase the storage density of loads and thereby overcome the space constraint issues faced by several end-users. These kinds of systems are of use mainly at manufacturing sites, distribution centers, retail, wholesale, and institutions. ASRS helps in automatically bringing items directly to the operator, and can be operated as a standalone system, as well as integrated into a linked system. Some of the common operations of ASRS include consolidation, order picking, buffering, kitting, inventory storage, parts handling, and buffer storage, among others. Mainly designed for these tasks, ASRS systems eliminate walk and search time, thereby increasing productivity and efficiency. Space-efficient ASRS systems also help in reducing underutilized floor space by storing all the materials in one compact area, thus provide larger storage capacity in comparison to shelving and racking in aisles. Furthermore, it helps in reducing labor costs since the automation of processes helps in reducing the involvement of several individuals, and it generally requires one person to operate such systems.
The European region is estimated to lead the ASRS market. The market for Europe includes France, Germany, Spain, Italy, the UK, and the Rest of Europe. The European market is a highly diverse market with a group of more than 40 countries in it. Western European countries are more advanced as compared to the NORDIC and other east European countries. Therefore, there are more developments and advancements in the field of automation in the western part of Europe. The NORDIC countries of Europe consist of a large number of Small and Medium Enterprises (SMEs) that do not demand much for such automated storage warehouses. On the other hand, economically strong countries such as Germany, Italy, UK, and Spain have witnessed significant growth in the implementation of automation solutions. Pharmaceutical, e-commerce, healthcare, automobile industry, food & beverage processing industry, are the biggest end-users that have implementations of ASRS solutions.
Key findings of the study:
The European region is estimated to lead the ASRS market. The growth in Europe is attributed to the presence of several ASRS players in the region, coupled with a substantial customer base. Also, significant investments made by automotive players in the automated material handling equipment is driving the installation of ASRS. Even the cost of implementing automation is declining in Europe, along with the increase in labor costs
The concerns about ROI post-implementation of automated storage solutions have denied significant growth in NORDIC countries. Whereas, the need to have space-efficient warehouses so that CAPEX savings are achieved for the storage of products has been the major reason for popular implementations of the system. Germany, Italy, and Spain are the potential growth markets for a variety of deployments of automated storage and retrieval system in various applications. Automotive industry in Germany, the textile and manufacturing industries in Italy and Spain respectively have been using automated storage and retrieval system for accuracy and efficiency in operations. Also, the development of automation technology in this region has enabled more ASRS implementations.
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