Industrial Automation Magazine India

Automated Storage and Retrieval System Industry market report

Published on : Thursday 10-09-2020

Dollar 10.7 billion worldwide Automated Storage and Retrieval System Industry to 2025 – Featuring Daifuku, Kardex and Murata Machinery among others.

Dublin, September 2020 – The ‘Automated Storage and Retrieval System (ASRS) Market with Covid-19 Impact Analysis by Type (Unit Load, Mini Load, VLM, Carousel, Mid Load), Function (Storage, Order Picking, Assembly, Distribution, Kitting), Industry, and Region- Global Forecast to 2025’ report has been added to ResearchAndMarkets.com's offering. The ASRS market was valued at USD 7.3 billion in 2020 and is likely to reach USD 10.7 billion by 2025, at a CAGR of 8.0% from 2020 to 2025. An automated storage and retrieval system (ASRS) is a device used in manufacturing plants, warehouses, and distribution centres for storing and retrieving loads from one storage location to another. An ASRS comprises various computer-controlled systems and equipment that are used to store and accurately retrieve materials.

Covid-19 has emerged as a global pandemic that has spread across 215 countries worldwide and disrupted various industries around the world. The prominent players across industries have been affected by this pandemic. The foreseeable decline in the growth of end-user industries may have a considerable direct impact on the ASRS market.

The vertical lift module (VLM) market is expected to grow at the highest rate during the forecast period. The VLM is designed to deliver stored items to the operator, thereby eliminating walk and search time. The VLM increases productivity by up to 67% and saves up to 85% of the floor space. VLM is also integrated with pick-to-light technology to improve accuracy levels. These factors such as improved accuracy and efficiency are responsible for the increased demand for VLM in the market.

The automotive industry is expected to hold the largest share of the ASRS market in 2020. The shift in demand toward electric vehicles and autonomous vehicles has prompted automakers to ramp up automotive manufacturing, which requires automotive spare parts. Automotive suppliers have to effectively manage large amounts of goods and variation and breadth of stock. Also, these suppliers need to improve the storage capacity within the available floor space. Thus, automated storage and retrieval systems are increasingly being used to fulfil the requirements related to material handling capacity. Due to the recent outbreak of COVID-19, the automotive industry is incurring massive financial losses. The demand for automobiles is decreasing as people continue to be under lockdown restrictions. Skilled workers required for maintaining and optimising ASRS in warehouses are unavailable. This has resulted in reduced demand for ASRS in automotive warehouses.