Automated storage and retrieval system (ASRS) market worth $10.7 billion by 2025

According to the new market research report from research firm MarketsandMarkets, “Automated Storage and Retrieval System (ASRS) Market with COVID-19 Impact Analysis by Type (Unit Load, Mini Load, Vertical Lift Module, Carousel, Mid Load); Function (Storage, Order Picking, Assembly, Distribution, Kitting); Industry, and Region; Global Forecast to 2025,” the ASRS market is likely to reach $10.7 billion by 2025. That is is an increase of more than $3 billion from the $7.3 billion market size in 2020, representing a compound annual growth rate (CAGR) of 8.0% from 2020 to 2025.

The growth of this market can be attributed to the growing demand for ASRSs in e-commerce due to onset of COVID-19, increasing demand for ASRS in automotive industry, optimum utilization of space and rise in labor costs, and improved accuracy, productivity, and efficiency in supply chain, along with better inventory control, according to MarketsandMarkets.

Among the report’s findings, unit load is expected to hold the largest share of the overall market in 2020. Unit-load ASRSs are used for storing large size articles. The market growth is supported by their wide range of applications in consumer goods, automotive, electronics, food & beverages, pharmaceuticals & medical supplies, and retail & apparel industries.

By function, the storage function is expected to lead the ASRS market during forecast period. Extensive use of ASRSs for storage function in industries such as automotive, food & beverages, chemicals, and healthcare is fueling the growth of the market. By industry, the report predicts the automotive industry is expected to lead the ASRS market from 2020 to 2025, while by geographic region, Europe is expected to hold the largest market size for ASRS during the forecast period.