The Global Retail Robots Market Size is estimated to be valued over USD 20 billion in 2018 and will register a CAGR of 30% between 2017 and 2028, finds Bekryl Market Analysts.
Emergence of artificial intelligence along with IoT will play a key role in deployment of robots in retail sector. With changing business dynamics, these robots will take charge of various retail related business functionaries ranging from warehouse management to billing and customer assistance. The industry will be offering high revenue opportunity for engaged players. As such, many companies have emerged in the segment in last two years. These players are primarily focused towards product development, however, few are into inorganic growth to maximize the business expansion and generate high return on investment (ROI).
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Bekryl’s market research report, Global Retail Robots Market Size Analysis and Industry Opportunity, finds North America to account for 68% of global share in 2018. The region has always at the forefront of adopting newer technology. Furthermore, there is high demand for fully autonomous robots that could takeover repetitive work and thus lower the operational costs. Also, Retail chains are looking forward towards retail robots to lower the growing competition from ecommerce chains.
Some key trends from the Global Retail Robots Market:
Trend#1: Increased Consolidation in Retail Robots Market
The industry is primarily moving towards consolidation as major players are adopting inorganic growth strategy to expand their business presence. As such, there has been few instances of mergers and acquisitions in last few years.
Trend#2: Product Development as the Key Strategy in Global Retail Robots Market
The industry is at its initial growth phase and as such, companies are investing heavily on product development and high capital inflow. The trend is quite prominent among start-ups. Recently, in 2017, Bossa Nova raised US$ 17.5 million in Series B round funding. Similar such developments are expected to take place in next five years.
Trend#3: Inventory Robots to Dominate the Global Retail Robots Market Sales
While Inventory robots are expected to account for 90% of global share in 2018 and will continue to dominate the global sales, delivery robots will register fastest growth over the forecast period. In-house delivery models is gaining high popularity especially in developed regions. Also, it will be a key game changer mode for retail sector looking to beat the increasing business competition from e-commerce chains.
To know more about Retail Robots Industry Insights, visit: https://bekryl.com/industry-trends/retail-robots-market-size-analysis
Some key global Retail Robots market players are Rethink Robotics, Robotiq, ABB Robotics, Aethon, Alphabet Inc., GreyOrange, Softbank Group Corp, Amazon Robotics, Bossa Nova, DJI, Savioke, Simbe Robotics, Honda Robotics, Locus Robotics, Soft Robotics, and Universal Robots A/S.
- Third Party Deployment Server
By Product Type:
- Delivery Robots
- Inventory Robots
- In-Store Service Robots
Bekryl Market Analysts is a global market research and consulting service firm that helps industry stakeholders to take smarter decisions and achieve remarkable growth in today’s disruptive business environment. We bring together data, leader’s opinion and analytical service to help client define their growth strategy ranging from mergers and acquisitions based strategic decisions to finding market opportunity in business verticals namely chemicals, food & beverages, automotive, electronics and industrial production.
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