Retail Robots Market
PUBLISHED: 2022 ID: SMRC21907
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Retail Robots Market

Retail Robots Market Forecasts to 2028 - Global Analysis By Type (Mobile Robotics, Autonomous Robotics and Semi-Autonomous), Deployment (Cloud-Based , On-Premises and Third-Party Deployment Services), Application and By Geography

4.6 (27 reviews)
4.6 (27 reviews)
Published: 2022 ID: SMRC21907

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $13.56 BN

Projected Year Value (2028)

US $77.13 BN

CAGR (2022 - 2028)

33.61%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Fastest Growing Market

North America


According to Stratistics MRC, the Retail Robots Market is accounted for $13.56 billion in 2022 and is expected to reach $77.13 billion by 2028 growing at a CAGR of 33.61% during the forecast period. Retail robotics is the application of technology, engineering, and science to create robotic machines that mimic human actions. The main goal of retail robots technology is to raise an organization's performance and yield better results. A wide range of applications, including inventory management, delivery management, in-store services, and others, are available for retail robots.

According to FMI analysis, the change between the BPS points in the Industrial Robots market in H1, 2022 - Outlook over H1, 2022 projected a gain of 70 points. Notably, compared to H1, 2021, the market is expected to lose 48 BPS points in H1 -2022. One of the key reasons for a responsible increase in Y-O-Y is due to increase in automation within industrial sector, which in turn is rising the demand for industrial robots.



Market Dynamics:

Driver:

Growing use of retail robots

Retail robots are utilized for a variety of applications such as back-office operations, shop operations, merchandising, sales and marketing, customer-facing experiences, and so on. Due to their autonomy, robots can deliver higher quality goods and services more quickly, with less resource waste, and without endangering people physically. Future market growth will be aided by the expanding usage of retail robots in supermarkets and chain stores.

Restraint:

High initial cost

The global Retail Robots market expected to hinder growth during the forecast period. The initial cost of retail robots can be costly and thus appear off-putting to retail enterprises that are just beginning to integrate technologies into their operations. Customized software is typically included in the upfront fees in order to afterwards advance the company. Other costs associated with robot adoption include having to take into account paying experts to maintain and service the equipment.

Opportunity:

Growing trend toward automation and digitalization

The market's growth is being influenced by the growing trend toward automation and digitalization. A number of retail behemoths, like Amazon, Walmart, and Best Buy, are pursuing various strategies to extend their commercial prospects. To seize opportunities, major players in the retail sector are working with IT firms.

Threat:

Security and data privacy

Retail robot security and data privacy concerns include safe data storage and consent management, as well as data protection from hackers. Companies are quite concerned about preventing data from being misused and systems from being compromised, especially when it comes to storing client information. Therefore, data privacy serves as a market restraint.

Covid-19 Impact:

The global impact of the COVID-19 pandemic has been devastating to the manufacturing and service sectors. Robotic order fulfillment in the e-commerce sector has seen a record-high adoption as a result of the shifts in consumer purchasing behavior brought on by the COVID-19 pandemic, allowing for appropriate social distancing techniques. After the epidemic, big businesses began to spend money on robots and retail automation to improve the productivity of their warehouses and retail spaces. Demand for automation is at an all-time high as a result of the dramatic and unpredictably changing consumer needs.

The autonomous robotics is expected to be the largest during the forecast period

The autonomous robotics segment is estimated to have a lucrative growth, as autonomous robots can enter areas and situations that humans cannot. Additionally, autonomous robots have the potential to increase workplace efficiency for retailers in a number of ways, but mostly by relieving human workers of the labor-intensive tasks.

The inventory management segment is expected to have the highest CAGR during the forecast period

The inventory management segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the investing in warehouse robotics improves efficiency and inventory management precision. Lower customer satisfaction can result from human errors, which can be quite expensive for firms. A high level of accuracy in order fulfillment and warehousing operations is ensured by the expansion of inventory management, which automates the precise handling, picking, sorting, and replenishment of products.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the various innovation-based businesses use connectivity and AI to improve "robot technology," Retailers are utilising robots and robotics in manufacturing, distribution, and warehouse facilities to assemble, pack, and transport orders in an effort to increase productivity.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the rising implementation of automation technologies by leading industry players throughout the region is the primary factor driving the market's growth over the predicted period. Walmart began utilising robots to transform its stores into automated fulfilment hubs. Electronics and consumables (including fresh and frozen foods) are among the commodities that Walmart stocks in automated fulfilment facilities. The Alphabet is a critical component in enabling them to deliver and pick up orders much more quickly.



Key players in the market

Some of the key players in Retail Robots market include ABB, Honda Motor Co. Limited., Locus Robotics, Soft Robotics Inc., Universal Robots A/S, Aethon, Alphabet Inc., GreyOrange, Softbank Group Corp, Amazon Robotics, Bossa Nova, Simbe Robotics

Key Developments:

In October 2018, ABB announced that it would invest US$150 million investment in Shanghai, China to build the world’s most advanced, automated and flexible robotics factory – a cutting-edge center where robots will make robots.

In July 2018, Bossa Nova also announced a new partnership with the CyLab Biometrics Center at Carnegie Mellon University.

In April 2018, SoftBank Robotics America (SBRA) and Simbe entered into a partnership to tackle the challenges retailers face in handling inventory dynamics in their stores.

Types Covered:
• Mobile Robotics
• Autonomous Robotics
• Semi-Autonomous

Deployments Covered:
• Cloud-Based
• On-Premises
• Third-Party Deployment Services

Applications Covered:
• Inventory Management
• Delivery Management
• In-Store Services
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Retail Robots Market, By Type
5.1 Introduction
5.2 Mobile Robotics
5.3 Autonomous Robotics
5.4 Semi-Autonomous

6 Global Retail Robots Market, By Deployment
6.1 Introduction
6.2 Cloud-Based
6.3 On-Premises
6.4 Third-Party Deployment Services

7 Global Retail Robots Market, By Application
7.1 Introduction
7.2 Inventory Management
7.3 Delivery Management
7.4 In-Store Services
7.5 Other Applications

8 Global Retail Robots Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa

9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies

10 Company Profiling
10.1 ABB
10.2 Honda Motor Co. Limited.
10.3 Locus Robotics
10.4 Soft Robotics Inc.
10.5 Universal Robots A/S
10.6 Aethon
10.7 Alphabet Inc.
10.8 GreyOrange
10.9 Softbank Group Corp
10.10 Amazon Robotics
10.11 Bossa Nova
10.12 Simbe Robotics

List of Tables
1 Global Retail Robots Market Outlook, By Region (2020-2028) ($MN)
2 Global Retail Robots Market Outlook, By Type (2020-2028) ($MN)
3 Global Retail Robots Market Outlook, By Mobile Robotics (2020-2028) ($MN)
4 Global Retail Robots Market Outlook, By Autonomous Robotics (2020-2028) ($MN)
5 Global Retail Robots Market Outlook, By Semi-Autonomous (2020-2028) ($MN)
6 Global Retail Robots Market Outlook, By Deployment (2020-2028) ($MN)
7 Global Retail Robots Market Outlook, By Cloud-Based (2020-2028) ($MN)
8 Global Retail Robots Market Outlook, By On-Premises (2020-2028) ($MN)
9 Global Retail Robots Market Outlook, By Third-Party Deployment Services (2020-2028) ($MN)
10 Global Retail Robots Market Outlook, By Application (2020-2028) ($MN)
11 Global Retail Robots Market Outlook, By Inventory Management (2020-2028) ($MN)
12 Global Retail Robots Market Outlook, By Delivery Management (2020-2028) ($MN)
13 Global Retail Robots Market Outlook, By In-Store Services (2020-2028) ($MN)
14 Global Retail Robots Market Outlook, By Other Applications (2020-2028) ($MN)
15 North America Retail Robots Market Outlook, By Country (2020-2028) ($MN)
16 North America Retail Robots Market Outlook, By Type (2020-2028) ($MN)
17 North America Retail Robots Market Outlook, By Mobile Robotics (2020-2028) ($MN)
18 North America Retail Robots Market Outlook, By Autonomous Robotics (2020-2028) ($MN)
19 North America Retail Robots Market Outlook, By Semi-Autonomous (2020-2028) ($MN)
20 North America Retail Robots Market Outlook, By Deployment (2020-2028) ($MN)
21 North America Retail Robots Market Outlook, By Cloud-Based (2020-2028) ($MN)
22 North America Retail Robots Market Outlook, By On-Premises (2020-2028) ($MN)
23 North America Retail Robots Market Outlook, By Third-Party Deployment Services (2020-2028) ($MN)
24 North America Retail Robots Market Outlook, By Application (2020-2028) ($MN)
25 North America Retail Robots Market Outlook, By Inventory Management (2020-2028) ($MN)
26 North America Retail Robots Market Outlook, By Delivery Management (2020-2028) ($MN)
27 North America Retail Robots Market Outlook, By In-Store Services (2020-2028) ($MN)
28 North America Retail Robots Market Outlook, By Other Applications (2020-2028) ($MN)
29 Europe Retail Robots Market Outlook, By Country (2020-2028) ($MN)
30 Europe Retail Robots Market Outlook, By Type (2020-2028) ($MN)
31 Europe Retail Robots Market Outlook, By Mobile Robotics (2020-2028) ($MN)
32 Europe Retail Robots Market Outlook, By Autonomous Robotics (2020-2028) ($MN)
33 Europe Retail Robots Market Outlook, By Semi-Autonomous (2020-2028) ($MN)
34 Europe Retail Robots Market Outlook, By Deployment (2020-2028) ($MN)
35 Europe Retail Robots Market Outlook, By Cloud-Based (2020-2028) ($MN)
36 Europe Retail Robots Market Outlook, By On-Premises (2020-2028) ($MN)
37 Europe Retail Robots Market Outlook, By Third-Party Deployment Services (2020-2028) ($MN)
38 Europe Retail Robots Market Outlook, By Application (2020-2028) ($MN)
39 Europe Retail Robots Market Outlook, By Inventory Management (2020-2028) ($MN)
40 Europe Retail Robots Market Outlook, By Delivery Management (2020-2028) ($MN)
41 Europe Retail Robots Market Outlook, By In-Store Services (2020-2028) ($MN)
42 Europe Retail Robots Market Outlook, By Other Applications (2020-2028) ($MN)
43 Asia Pacific Retail Robots Market Outlook, By Country (2020-2028) ($MN)
44 Asia Pacific Retail Robots Market Outlook, By Type (2020-2028) ($MN)
45 Asia Pacific Retail Robots Market Outlook, By Mobile Robotics (2020-2028) ($MN)
46 Asia Pacific Retail Robots Market Outlook, By Autonomous Robotics (2020-2028) ($MN)
47 Asia Pacific Retail Robots Market Outlook, By Semi-Autonomous (2020-2028) ($MN)
48 Asia Pacific Retail Robots Market Outlook, By Deployment (2020-2028) ($MN)
49 Asia Pacific Retail Robots Market Outlook, By Cloud-Based (2020-2028) ($MN)
50 Asia Pacific Retail Robots Market Outlook, By On-Premises (2020-2028) ($MN)
51 Asia Pacific Retail Robots Market Outlook, By Third-Party Deployment Services (2020-2028) ($MN)
52 Asia Pacific Retail Robots Market Outlook, By Application (2020-2028) ($MN)
53 Asia Pacific Retail Robots Market Outlook, By Inventory Management (2020-2028) ($MN)
54 Asia Pacific Retail Robots Market Outlook, By Delivery Management (2020-2028) ($MN)
55 Asia Pacific Retail Robots Market Outlook, By In-Store Services (2020-2028) ($MN)
56 Asia Pacific Retail Robots Market Outlook, By Other Applications (2020-2028) ($MN)
57 South America Retail Robots Market Outlook, By Country (2020-2028) ($MN)
58 South America Retail Robots Market Outlook, By Type (2020-2028) ($MN)
59 South America Retail Robots Market Outlook, By Mobile Robotics (2020-2028) ($MN)
60 South America Retail Robots Market Outlook, By Autonomous Robotics (2020-2028) ($MN)
61 South America Retail Robots Market Outlook, By Semi-Autonomous (2020-2028) ($MN)
62 South America Retail Robots Market Outlook, By Deployment (2020-2028) ($MN)
63 South America Retail Robots Market Outlook, By Cloud-Based (2020-2028) ($MN)
64 South America Retail Robots Market Outlook, By On-Premises (2020-2028) ($MN)
65 South America Retail Robots Market Outlook, By Third-Party Deployment Services (2020-2028) ($MN)
66 South America Retail Robots Market Outlook, By Application (2020-2028) ($MN)
67 South America Retail Robots Market Outlook, By Inventory Management (2020-2028) ($MN)
68 South America Retail Robots Market Outlook, By Delivery Management (2020-2028) ($MN)
69 South America Retail Robots Market Outlook, By In-Store Services (2020-2028) ($MN)
70 South America Retail Robots Market Outlook, By Other Applications (2020-2028) ($MN)
71 Middle East & Africa Retail Robots Market Outlook, By Country (2020-2028) ($MN)
72 Middle East & Africa Retail Robots Market Outlook, By Type (2020-2028) ($MN)
73 Middle East & Africa Retail Robots Market Outlook, By Mobile Robotics (2020-2028) ($MN)
74 Middle East & Africa Retail Robots Market Outlook, By Autonomous Robotics (2020-2028) ($MN)
75 Middle East & Africa Retail Robots Market Outlook, By Semi-Autonomous (2020-2028) ($MN)
76 Middle East & Africa Retail Robots Market Outlook, By Deployment (2020-2028) ($MN)
77 Middle East & Africa Retail Robots Market Outlook, By Cloud-Based (2020-2028) ($MN)
78 Middle East & Africa Retail Robots Market Outlook, By On-Premises (2020-2028) ($MN)
79 Middle East & Africa Retail Robots Market Outlook, By Third-Party Deployment Services (2020-2028) ($MN)
80 Middle East & Africa Retail Robots Market Outlook, By Application (2020-2028) ($MN)
81 Middle East & Africa Retail Robots Market Outlook, By Inventory Management (2020-2028) ($MN)
82 Middle East & Africa Retail Robots Market Outlook, By Delivery Management (2020-2028) ($MN)
83 Middle East & Africa Retail Robots Market Outlook, By In-Store Services (2020-2028) ($MN)
84 Middle East & Africa Retail Robots Market Outlook, By Other Applications (2020-2028) ($MN)
 

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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