NEW YORK, May 1, 2023 /PRNewswire/ -- The total revenue generated by the automated storage and retrieval system market will grow at a rate of 7.4% in the years to come, to reach USD 15,012 million by 2030.
Unit-Load Variants Are Preferred
The unit load category had the largest share, of 46%, in 2022, and it will propel at a rate of 7.8% by the end of this decade. This is credited to the various applications of these systems in the electronics, automotive, food & beverage, FMCG, pharma, and retail industries.
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These kinds of ASRS have racks, SRMs or stacker cranes, software, and/or AGVs transporting the necessary material to and from the system.
Automotive Industry Is Largest User of ASRSs
Automation has redefined every step of the production of automobiles, particularly assembly-a phase of picking and mounting parts for models, at present depending on human laborers.
Warehousing transport systems deliver an easily operatable and safe atmosphere, also easing workloads and bringing about flexible compatibility with layout alterations, thus boosting efficiency.
ASRS Integration in APAC Will Grow Fastest
- APAC will grow the fastest, with an over 8% CAGR, in the years to come, as stated by a market expert at P&S Intelligence. This will be because of the large consumer base for and production of ASRSs in India, Japan, China, and South Korea.
- The main industries that use these systems in these nations are retail & e-commerce, chemicals, food & beverage, semiconductors, automotive, FMCG, metals & mining, and electrical appliances.
Increasing Use of Robots in E-Commerce
Since its advent, e-commerce has redefined business operations globally, with a positive impact on sales and profitability.
In the recent past, the use of online sales channels has increased considerably, and according to research, the value of the e-commerce market was already over USD 4 trillion in 2021. Moreover, China is the largest e-commerce market, with over 37% of the digital buyers in the world, in 2022.
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Increasing Number of Cold-Storage Facilities Generating Lucrative Opportunity
- E-commerce companies are trying to capture a large number of customers with the help of the trending online shopping habits.
- Additionally, the increasing trade of perishables on e-commerce platforms is intensifying the requirement for cold warehouses.
- Consequently, firms are emphasizing decreasing the time taken for order fulfillment, especially for groceries. For this, refrigerated storage becomes a crucial part of supply chain management, for storing products that are temperature-sensitive.
ASRSs Majorly Adopted for Storage Purposes
ASRSs bought for the storage functionality generate over 40% of the market revenue, as storage of high-volume items at a rapid pace is a challenging task at large warehouses. With the booming e-commerce industry, the need to efficiently stack and store items, for easy retrieval, is growing.
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