Automated Storage and Retrieval System (ASRS) Market worth $11.8 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Nov. 29, 2022 /PRNewswire/ -- The global ASRS market size is projected to grow from USD 8.3 billion in 2022 to USD 11.8 billion by 2027, at a CAGR of 7.4% according to a new report by MarketsandMarkets™. The increasing usage of ASRS in healthcare, automotive, and food & beverage sectors is boosting the markets growth.

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VLM segment to account second-largest market share during the forecast period.

VLMs maximize the vertical height by utilizing an independent tray storage system to create a dense solution far exceeding traditional storage methods. Depending on the items dimensions and the warehouses clear height, some companies can store thousands of parts in a single VLM. The VLM provides various features, such as increased storage density, reduced labor costs, an extremely efficient picking solution that can carry its operational return on investment, higher throughput rates from a picking perspective compared to conventional picking, the highest security, easy training, easy integration with other automation systems (robotics, unit-level sortation, shuttle systems). All these features are expected to drive the growth of the ASRS market for VLMs.

Food & beverage is projected to hold a significant share of the ASRS market during the forecast year

There has been an increasing focus of food & beverage companies on automation due to the rising need for food processing, packaging, and storing. Rising technological advances in cold chain storage and transport are also one of the factors influencing the growth of ASRS in the food & beverage industry. Furthermore, there has been growing acceptance of frozen foods among consumers, which ultimately is driving the demand for the ASRS market. To meet these demands, ASRS is extensively used in the food & beverage industry.

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China to account for a significant market share of Asia Pacific from 2022 to 2027

China is projected to account for a  major share of the ASRS market in Asia Pacific from 2022 to 2027. The country is a key producer of automotive as well as food and beverage industry. The country is also a major manufacturer and supplier of semiconductor & electronics equipment. The country is also known for low-cost automotive product manufacturing. Consequently, ASRS witnesses a huge demand from warehouses to keep track of inventory, storage, and distribution for these catering industries. All these factors are pushing the growth of the ASRS market in China.

Daifuku, Murata Machinery, SSI Schaefer, TGW Logistics, and Kardex are the top five players in the ASRS market globally.

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