News • 30.08.2022

Revenues from robotics deployed in retail stores expected to grow

In-store mobile robotics, contactless checkout, wearables, and smart carts enhance operations

A white hand of a sophisticated robot; copyright: Possessed Photography/Unsplash...
Source: Possessed Photography/Unsplash

As the world emerges from the global pandemic, retail is growing at levels not seen in the last two decades. Retail sales grew by 7% in 2020 and by over 14% in 2021, which is in stark contrast to the 3.7% annual growth between 2010 and 2019. The increased demand for retail has put a strain on supply chains and retail operations worldwide.

As a result, retailers and stakeholders are turning to automation solutions such as mobile robotics for operational ease. According to ABI Research, worldwide commercial robot revenue in retail stores will have a Compounded Annual Growth Rate (CAGR) of over 25% from 2022 to 2030 and exceed US$8.4 billion by 2030.

“There is the continued adoption of diverse technologies in the retail space. We can see incoming retail solutions within various points of the retail value chain, such as order fulfillment, in-store inventory check, coordination between store associates, or last-mile delivery. These solutions can directly or indirectly impact the wider supply chain management to retailers for the better,” explains Adhish Luitel, Senior Analyst, Supply Chain Management and Logistics at ABI Research.

Automated and frictionless retail operations

Technologies such as contactless checkout, in-store mobile robotics, wearables, and smart carts are getting a lot of traction, with major retailers adopting these incoming solutions to enhance operations and contribute to a more streamlined supply chain management.

Companies like Zebra Technologies, Simbe Robotics, and Seoul Robotics have been providing various automation solutions such as wearable computers, handheld devices, LiDAR devices, and in-store robots that can be used for inventory scanning, floor care, or security purposes. While companies such as Mashgin and Cloudpick offer frictionless checkout in stores by combining proprietary computer vision, deep learning, sensor fusion, and edge computing technologies.

“Given their obvious operational benefits of enhanced customer experience, streamlined task/employee management, price management, or automated item monitoring, the impact of these technologies on the wider supply chain management for retailers can’t be understated. Beyond enabling rapid fulfillment/restocking or automated inventory management, these technologies also provide additional data points for precise demand and procurement planning. This can also lead to an enhanced omnichannel presence for retailers and stronger partnerships with suppliers, shippers, distribution center operators, and other supply chain stakeholders through enhanced communication and synergy,” Luitel concludes.

Source: ABI Research

related articles:

popular articles:

Thumbnail-Photo: Tiedt celebrates quarter century milestone with ITL...
05.07.2023   #Tech in Retail #cash handling systems

Tiedt celebrates quarter century milestone with ITL

Marcus Tiedt marks 25 years with the cash handling and biometrics solutions provider

Marcus Tiedt, Innovative Technology’s Sales & Marketing Director, marks 25 years with the cash handling and biometrics solutions provider. Based in ITL’s German office in Pinneberg just outside Hamburg, Marcus has been an integral ...

Thumbnail-Photo: Puma reimagines omnichannel shopping experience through metaverse...
21.06.2023   #omnichannel #customer experience

Puma reimagines omnichannel shopping experience through metaverse platform

Sports company expands its metaverse web destination, Black Station, with immersive digital retail experience

Sports company Puma has launched Black Station 2, a metaverse platform that bridges the digital and physical worlds, allowing users to purchase phygital footwear. Black Station 2 is an expansion to its initial Black Station debut last September as ...

Thumbnail-Photo: Toshiba Launches New ELERA™ Security Suite to Address the Industry’s...
22.09.2023   #cashpoints #customer experience

Toshiba Launches New ELERA™ Security Suite to Address the Industry’s Challenges Around Shrink

Toshiba’s A.I.-powered solution empowers retailers across the globe to better manage loss prevention and protect profits

Security Suite from Toshiba Global Commerce Solutions empowers retailers to minimize shrink...

Thumbnail-Photo: Enhance inventory management and loss prevention – with Zebra...
12.06.2023   #e-commerce #brick and mortar retail

Enhance inventory management and loss prevention – with Zebra SmartCount solution

Now available in DACH, this accurate, easy-to-use solution provides time and cost savings and better inventory management

Zebra Technologies Corporation (NASDAQ: ZBRA), a leading digital solution provider enabling businesses to intelligently connect data, assets, and people, will present Zebra SmartCount™,  a proven, comprehensive solution now ...

Thumbnail-Photo: Nike launches Airphoria in Fortnite
26.06.2023   #digitization #omnichannel

Nike launches Airphoria in Fortnite

Access open from June 20 at 12 pm ET through June 27 at 8 pm ET

Nike is launching “Airphoria” in Fortnite, a first-of-its-kind gaming experience. Building on a multiyear partnership with Epic Games, Airphoria brings to life the future of sport experiences at the intersection of games and culture, ...

Thumbnail-Photo: German drinks retailer utilising facial analysis for automatic age checks...
28.07.2023   #brick and mortar retail #Tech in Retail

German drinks retailer utilising facial analysis for automatic age checks

Stand-alone solution MyCheckr for age verification by using cameras

A German liquor store franchisee operating in Pinneberg and Tornesch near Hamburg, has installed Innovative Technology's age verification technology. Innovative Technology (ITL), a provider of AI-powered biometric solutions, works with several ...

Thumbnail-Photo: Toshiba opens new Retail Operations Center in Europe...
03.08.2023   #e-commerce #retail

Toshiba opens new Retail Operations Center in Europe

Facility equipped with innovative technology and a powerful inventory management system

Toshiba Global Commerce Solutions has opened a state-of-the-art Retail Operations Center in Almere, Netherlands. The strategic move will enhance operational efficiency and provide superior service to the company's valued customers and partners ...

Thumbnail-Photo: With chatbots on the winning side?
02.08.2023   #online trading #e-commerce

With chatbots on the winning side?

How Google wants to promote productivity and creativity with Bard

Chatbots and other AI tools have been the talk of the town since the release of ChatGPT last year. In many industries, discussions are being held about the quality, reliability and actual usefulness of the programmes. With Bard, Google has thrown ...

Thumbnail-Photo: Senior Business Development Manager for ITL celebrates 20 year milestone...
01.08.2023   #Tech in Retail #cash management

Senior Business Development Manager for ITL celebrates 20 year milestone

Christian Czeskleba marks 20 years with the cash handling and biometrics solutions provider

Christian Czeskleba, Senior Business Development Manager (BDM) for Innovative Technology, marks 20 years with the cash handling and biometrics solutions provider this month. Based in ITL’s German office in Hamburg, Christian has seen the ...

Thumbnail-Photo: Help yourself!: Are self-checkouts the next big thing in retail?...
14.06.2023   #brick and mortar retail #self-checkout systems

"Help yourself!": Are self-checkouts the next big thing in retail?

Efficient everyday business, efficient shopping

In the face of the digital age (and the rush just after the end of the workday or the day right before a holiday), retailers are looking for innovative technologies to continuously improve shopping experiences. Self-service checkouts (SCOs) allow ...

Supplier

Reflexis Systems GmbH
Reflexis Systems GmbH
Kokkolastr. 5-7
40882 Ratingen
Innovative Technology Ltd.
Innovative Technology Ltd.
Innovative Business Park
OL1 4EQ Oldham
Zebra Technologies Germany GmbH
Zebra Technologies Germany GmbH
Franz-Rennefeld-Weg 2-6
40472 Düsseldorf