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: How efficient is your workforce management?
24.04.2024   #workforce deployment #workforce management

How efficient is your workforce management?

Workforce management software in retail is successful when it optimizes processes, increases employee satisfaction, and improves ...

Thumbnail-Photo: Introducing the Design XS Keypad Wall Reader Series...
23.07.2024   #access control #authentication

Introducing the Design XS Keypad Wall Reader Series

A New Level of Security and Convenience for Access Control

Leading global access solutions provider Salto Systems, part of SALTO WECOSYSTEM, is thrilled ...

Thumbnail-Photo: POCOs experience: efficiency and customer proximity through digital...
30.04.2024   #customer satisfaction #digitization

POCO's experience: efficiency and customer proximity through digital price tags?

How ESL and other digital elements are used in furniture stores

POCO Einrichtungsmärkte GmbH relies on Electronic Shelf Labels (ESL). So far, 93 of the 127 stores have been equipped with this technology ...

Thumbnail-Photo: Intelligent shopping assistant: how can it help in the store?...
26.06.2024   #brick and mortar retail #app

Intelligent shopping assistant: how can it help in the store?

Practical examples of use in DIY stores and fashion stores

Product search, navigation, shopping basket management and checkout: intelligent shopping assistants can now be integrated into ...

Thumbnail-Photo: Time saving made easy
18.07.2024   #brick and mortar retail #software applications

Time saving made easy

Use of technology in retail: focus on increasing efficiency and customer satisfaction

Task management software is one of the retail solutions designed to help shops save time and ...

Thumbnail-Photo: Hanshow’s ESL Solutions Push Precision and Performance at the National...
04.04.2024   #retail #customer experience

Hanshow’s ESL Solutions Push Precision and Performance at the National Hardware Show

NHS is the premier event where home centers, independent retailers, online retailers, wholesalers, distributors ...

Thumbnail-Photo: Introducing the Salto Glass XS Reader Series...
10.07.2024   #RFID (radio frequency identification) #access control systems

Introducing the Salto Glass XS Reader Series

Redefining Smart Access Control

Salto proudly unveils the Glass XS Reader Series, an innovative line of products ...

Thumbnail-Photo: New digital customer experience on the sales floor...
29.04.2024   #digital signage #data warehouse management

New digital customer experience on the sales floor

Connecting stationary retail through omnichannel digital signage

The dynamics of digital change and the fast pace of customer expectations are increasing ...

Thumbnail-Photo: Zebra: Using transparency to combat losses and shrinkage...
24.05.2024   #Tech in Retail #personnel management

Zebra: Using transparency to combat losses and shrinkage

Companies in the retail sector like Lowes Food, Belk’s and Vera Bradley are gearing themselves up for the future with cost optimisation strategies.

Loss prevention is playing an increasingly important role in reducing inventory discrepancies.Inventory is a major challenge for companies in the retail sector: 82% of retailers in Zebra's latest 16th Annual Global Shopper Study say that ...

Thumbnail-Photo: Successful customer loyalty in times of change: how to win with...
31.07.2024   #brick and mortar retail #sustainability

Successful customer loyalty in times of change: how to win with omnichannel

Challenges and trends in a cross-channel strategy

How has customer loyalty changed? Why is a well thought-out omnichannel strategy crucial ...

Supplier

SALTO Systems GmbH
SALTO Systems GmbH
Schwelmer Str. 245
42389 Wuppertal
Zebra Technologies Germany GmbH
Zebra Technologies Germany GmbH
Ernst-Dietrich-Platz 2
40882 Ratingen
REMIRA Group GmbH
REMIRA Group GmbH
Phoenixplatz 2
44263 Dortmund