What is the current size and annual growth rate of the retail robotics market?
The retail robotics market size has grown exponentially in recent years. It will 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 historic period can be attributed to rising adoption of automation, increasing retail stores, rising use of robotics, and increasing robot implementations.
The retail robotics market size is expected to see exponential growth in the next few years. It will grow to $120.99 billion in 2029 at a compound annual growth rate (CAGR) of 37.1%. The growth in the forecast period can be attributed to increasing e-commerce, increasing demand for mobile robotics, an increase in digital payments, an increasing preference for online shopping, and an increasing adoption of robots. Major trends in the forecast period include developing inventory monitoring, integrating with IoT-enabled robots, developing automated robotic solutions, data analytics and AI integration, and advanced facial recognition systems.
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Which major factors have contributed to the expansion of the retail robotics market?
The rising demand for automation is expected to propel the growth of the retail robotics market going forward. Automation refers to using technology and machinery to perform tasks with minimal human intervention to increase efficiency, productivity, and accuracy in various industries and applications. The rising demand for automation is due to the need for efficiency and productivity gains across industries, facilitated by advancements in robotics and artificial intelligence. Retail robotics plays a significant role in automating various processes within retail environments. They automate various aspects of retail operations, from inventory management and customer assistance to order fulfillment and cleaning. For instance, in September 2023, according to the International Federation of Robotics, a Germany-based non-profit organization, in 2022, factories around the globe installed 553,052 industrial robots, reflecting a 5% increase from the previous year. Therefore, the rising demand for automation is driving the retail robotics market.
How is the retail robotics market segmented?
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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Who are the top competitors 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
Which key trends are expected to influence the retail robotics market in the coming years?
Major corporations operating in the retail robotics market are focusing on developing technologically advanced solutions, such as retail intelligent robots, to revolutionize retail by offering real-time data analytics, personalized customer interactions, and efficient supply chain management. The retail intelligent robot is an advanced AI-driven robotic system tailored for retail settings, optimizing inventory management, customer service, and data analytics tasks. For instance, in December 2022, Adapta Robotics, a Romania-based manufacturer of adaptable robotics, launched ERIS, the first retail robot. It is an intelligent retail robot designed to assist customers in retail stores by providing information, guiding them to products, and answering questions. The ERIS robot enhances the customer experience and streamlines store operations by automating out-of-stock identification, providing product information, directing customers to items, and answering questions using advanced sensors and cameras. It can provide information about product availability, pricing, and location and offer personalized recommendations based on customer preferences.
Which regional trends are influencing the retail robotics market, and which area dominates the industry?
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.
What Does The Retail Robotics Market Report 2025 Offer?
The retail robotics market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Retail robotics refers to using robotic systems and technology in retail environments to enhance operations, improve customer experience, and streamline processes. These robots are designed to perform various tasks within retail settings, such as stores, warehouses, and distribution centers.
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