How Has the Retail Robotics Market Size Evolved in Recent Years?
The retail robotics market has seen considerable growth due to a variety of factors.
• The retail robotics market has seen exponential growth in recent years. It is expected to grow from $24.93 billion in 2024 to $34.27 billion in 2025, at a compound annual growth rate (CAGR) of 37.4%.
The growth in the past period is attributed to rising automation adoption, the increasing number of retail stores, the greater use of robotics, and the growing implementation of robots in various sectors.
What Are The Predictions for The Retail Robotics Market in the Coming Years?
The retail robotics market is expected to maintain its strong growth trajectory in upcoming years.
• The retail robotics market is expected to grow rapidly, reaching $120.99 billion by 2029 at a CAGR of 37.1%.
The growth is fueled by the increase in e-commerce, the demand for mobile robotics, digital payments, the shift to online shopping, and the adoption of robots. Key trends include inventory monitoring, IoT integration, automated robotic solutions, AI and data analytics integration, and facial recognition systems.
Which Drivers Are Accelerating Growth In The Retail Robotics Market?
The growth of the retail robotics market is projected to be driven by the increasing need for automation. Automation, which involves the use of technology and machinery to carry out tasks with minimal human involvement, enhances efficiency, productivity, and precision across various sectors and applications. This increased reliance on automation is a response to the demand for efficiency and productivity enhancements in varied industries, supported by advances in robotics and artificial intelligence. Retail robotics have a vital part in facilitating various process automation within retail settings. They help automate several retail operation aspects, from managing inventory and assisting customers to fulfilling orders and cleaning. For example, the International Federation of Robotics, a non-profit organization based in Germany, reported that factories worldwide installed 553,052 industrial robots in 2022, a 5% growth from the previous year. Hence, the increasing demand for automation is fueling the retail robotics market's growth.
What Are The Core Segments Of The Global Retail Robotics Market?
The retail robotics market covered in this report is segmented –
1) By Type: Mobile Robotics, Stationary Robotics, Semi-Autonomous
2) By Deployment: Cloud Or Web Based, On-Premises, Third-Party Deployment Server, Other Deployments
3) By Application: Inventory Management, Delivery Management, In-Store Service, Other Applications
4) By End-User: Hypermarkets And Supermarkets, Specialty Stores, E-Commerce Retailers, Department Stores, Other End-Users
Subsegments:
1) By Mobile Robotics: Autonomous Guided Vehicles (AGVs), Delivery Robots, Service Robots
2) By Stationary Robotics: Shelf Scanning Robots, Inventory Management Robots, Price Labeling Robots
3) By Semi-Autonomous Robotics: Collaborative Robots (Cobots), Human-Assisted Robots, Pick-And-Place Robots
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What Trends Are Shaping The Retail Robotics Market?
Leading companies in the retail robotics market are concentrating on creating sophisticated technology like retail intelligent robots to revolutionize the sector through real-time data analysis, individualized customer interactions, and effective logistics control. Retail intelligent robot refers to an AI-powered robotic system specifically designed for retail environments, enhancing inventory control, client service and data analysis tasks. For example, Adapta Robotics, a Romanian robotics firm, introduced ERIS in December 2022, its first retail robot. ERIS is a smart retail robot tailored to support customers in retail shops, offering detailed product guidance, answering inquiries, and making product suggestions. In addition to improving the customer experience, ERIS facilitates store operations by identifying out-of-stock products, offering product details, directing customers to desired goods, and responding to queries using state-of-the-art sensors and cameras. It can deliver details about product stock status, price, and location and tailor recommendations according to customer preferences.
Who Are the Key Players In The Retail Robotics Market?
Major companies operating in the retail robotics market are:
• Honda Motor Co. Ltd.
• Siemens AG
• Honeywell International Inc.
• ABB Ltd
• FANUC Corporation
• Zebra Technologies Corporation
• Daifuku Co. Ltd.
• KUKA AG
• Teradyne Inc.
• Dematic Corp.
• KNAPP AG
• GreyOrange Pte. Ltd.
• Bastian Solutions LLC
• Locus Robotics Corp.
• Bossa Nova Robotics Inc.
• Rapyuta Robotics Co. Ltd.
• Aethon Inc.
• Boston Dynamics Inc.
• Vecna Robotics Inc.
• RightHand Robotics Inc.
• InVia Robotics Inc.
• Simbe Robotics Inc.
• Knightscope Inc.
• Magazino GmbH
What Are The Regional Insights Into The Retail Robotics Market?
North America was the largest region in the retail robotics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail robotics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
