APAC Region to Lead ASRS Market Growth with Innovations in Robotics and Cold Storage

NEW YORK - Aug. 1, 2024 - PRLog -- According to P&S Intelligence, the global automated storage and retrieval system (ASRS) market, valued at USD 9.8 billion in 2024, is expected to grow at a rate exceeding 7.3%, reaching USD 15.1 billion by 2030.

The warehousing sector has undergone a significant transformation in recent years due to the adoption of advanced technologies such as machine learning, artificial intelligence, and the Internet of Things (IoT). This technological advancement has enhanced storage efficiency, reduced processing times, minimized human error and labor costs, and improved employee safety, leading to substantial long-term benefits.

The integration of these technologies simplifies and increases the value of automation. Key trends supporting digital automation include the use of robotics and IoT in warehousing, inventory transportation, and fleet management.

E-commerce has dramatically reshaped global business processes, significantly boosting sales and efficiency. The sector's value surpassed USD 4 trillion in 2021, with China leading globally, accounting for approximately 37% of the world's digital buyers in 2022.

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To capture a larger customer base, e-commerce businesses are adapting to current online shopping trends and are increasingly utilizing cold storage to handle perishable goods, ensuring high-quality products for consumers. Efficient order fulfillment, especially for groceries, has become crucial, making chilled storage an essential component of supply chain management for temperature-sensitive items.

With the vast volume of products moving through warehouses, effective tracking is critical to prevent shortages due to theft, damage, or spoilage. Tracking solutions reduce human error and enhance supply chain transparency, while mechanical solutions address low inventory levels to prevent stockouts and manage inventory costs.

In the coming years, the APAC region is expected to experience the highest compound annual growth rate (CAGR) of over 8% in the ASRS market, driven by substantial manufacturing and consumer bases in South Korea, China, Japan, and India. Major industries in these countries include retail & e-commerce, chemicals, FMCG, food & beverage, automotive, semiconductors, metals & mining, and electrical appliances.

Thus, the ASRS industry is expanding due to the increased use of robots by e-commerce companies, the growing cold-storage network, and a heightened focus on inventory management.