Automated Storage and Retrieval System Market with COVID-19 Impact - Global Forecast to 2025

The Automated Storage and Retrieval System market study offers a thorough analysis of the key factors, market figures in terms of revenues, segmental data, regional data, and country-wise data. The Automated Storage and Retrieval System 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. The ASRS players have implemented various types of organic as well as inorganic growth strategies, such as contracts and collaborations, product launches, acquisitions, and expansions, to strengthen their offerings in the market. Daifuku (Japan), Kardex (Switzerland), Murata Machinery (Japan), SSI Schaefer (Germany), TGW Logistics (Austria), KION (Germany), KUKA (Germany), Toyota Industries (Japan), BEUMER (Germany), KNAPP (Austria), Mecalux (Spain), and System Logistics (Italy) are the players in the Automated Storage and Retrieval System Market.

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An automated storage and retrieval system is a device used in manufacturing plants, warehouses, and distribution centers 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.

The COVID-19 outbreak has led to major changes worldwide. The worldwide efforts to contain the pandemic’s spread have changed the daily habits of consumers, consumption patterns, and ways of thinking, which has given a boost to domestic economies and improvements in online services. The pandemic is rapidly changing consumer behavior toward online channels. Online demand has increased for multiple categories, including food and beverages, essentials, and pharmaceuticals, that are being delivered with innovative contactless formats. This has given an impetus to the growth of e-commerce, automotive, and food and beverages industries. The demand for warehousing has also increased due to the online demand for several products. Several multinational companies are setting up new warehouses across various countries to accommodate this increased demand. E-commerce giants, such as Amazon, Alibaba, and eBay, are ramping up the demand for ASRS as they continue to set up new warehouses worldwide. The increased number of warehouses necessitates the installation of ASRSs for proper inventory management, cataloging, and retrieval services.

Since the COVID-19 struck the market in early 2020 with consequent lockdowns in multiple countries, there has been a standstill in the overall demand activity in diverse industries, such as automotive, electronics, and chemicals. As the e-commerce industry is continuously under the pressure of procuring and delivering a huge number of articles within the stipulated time, e-commerce companies have adopted automation in their facilities.

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The e-commerce industry is experiencing a boom owing to the unprecedented rise in the number of online shoppers post the outbreak of COVID-19. The enforcement of social distancing norms, lockdowns, and other measures in response to the COVID-19 pandemic has led consumers to opt for online shopping. This has resulted in a spike in business-to-consumer (B2C) sales as well as an increase in business-to-business (B2B) e-commerce. The increase in B2C sales is particularly evident in online sales of pharmaceuticals, household goods, and food. However, such huge growth in the e-commerce industry has exerted immense pressure to deliver items on time. In the current scenario, the e-commerce industry is continuously under the pressure of procuring and delivering a huge number of articles within the stipulated time; thus, e-commerce companies have adopted automation in their facilities.

The frozen food market is expected to witness substantial growth in APAC in the coming years. The increased popularity of chilled and frozen foods in APAC reflects changing food preferences as consumers become more affluent; this is leading to the expansion of the infrastructure to support cold chain operations in the region. The growth of the cold chain sector can be largely attributed to globalization, which enables the import and export of perishable foods, technological advancements in cold chain storage and transport, and growing acceptance of frozen foods among consumers. The latest generation of Automated Storage and Retrieval System market provides a uniquely flexible and modular design, which has multi-load remote pallet handling capability, ideal for deep-freeze warehouse automation at its coldest (−28°C).

ASRS is a complex system operating in synchronization with many sensors, motors, and equipment guided by programming software. Any technical issue related to sensing element in ASRS may halt an entire operational process, which leads to additional time and cost to the company. Any fault in the software programming will also lead to improper functioning of the ASRS, thereby delaying the entire production process and increasing the downtime of the facility. This downtime can range from a few minutes to several days. Therefore, system failures adversely affect the process and result in diminishing profits. An ASRS would not be able to contribute to a company’s profitability, unless it is properly maintained. This poses a challenge for the players operating in the Automated Storage and Retrieval System Market.

Vertical lift module (VLM) 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 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 of VLM.

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