The Global Retail Robots Market is estimated to be valued at US$ 15.63 Bn in 2023 and is expected to exhibit a CAGR of 30% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Retail robots are used in inventory management, warehousing, packing & sorting, and surveillance applications in retail stores. They help in automating tedious and repetitive tasks with high accuracy and efficiency while reducing operating costs.
Market key trends:
One of the major trends in the retail robots market is the increasing adoption of autonomous inventory management robots. These robots can navigate autonomously in retail stores to scan product shelves and identify out-of-stock products or expiry items. They send real-time inventory data and alerts to the store managers for replenishment. This has significantly improved inventory management and reduced manual labor costs for retailers.
Segment Analysis
The retail robots market is segmented by type and application. Based on type, the market is segmented into mobile robots and stationary robots. Mobile robots are dominating the segment owning to high flexibility and modular design which enables them to operate in large retail spaces like supermarkets. The mobile robots help in tasks like inventory management, shelf cleaning and organizing which makes them highly productive.
Key Takeaways
The Global Retail Robots Market Trend is expected to witness high growth, exhibiting CAGR of 30.% over the forecast period, due to increasing demand for automation in warehouses and retail stores.
Regional analysis
North America is dominating the retail robots market owing to presence of major robotics companies and early adoption of automation technologies. The region accounted for over 35% share of the global market in 2023. Asia Pacific is expected to be the fastest growing region due to growth in e-commerce industry and expansion of retail chains in the region.
Key players
Key players operating in the retail robots market are Amazon Robotics, Bossa Nova, Simbe Robotics, ABB Robotics, Greyorange, Softbank Robotics, Honda Motor Co. Limited., and others. The market is competitive owing to presence of global leaders focusing on product innovation and expansion to emerging markets.
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