Global
Retail Robots Market Is Estimated To Witness High Growth Owing To the
Increasing Adoption of Automation in Retail Sector



The global Retail Robots Market is estimated to be valued at US$ 7.1 Bn in 2020
and is expected to exhibit a CAGR of 30.1% over the forecast period 2021-2028,
as highlighted in a new report published by Coherent Market Insights.



Market Overview:

Retail robots are autonomous machines that are programmed to perform various
tasks in the retail industry. They are designed to perform tasks such as
inventory management, shelf scanning, product sorting, customer assistance, and
checkout automation. These robots offer several advantages in the retail
sector, including increased efficiency, reduced cost of operations, improved
customer experience, and enhanced inventory management.



Market Key Trends:

One key trend in the retail robots market is the increasing adoption of
automation in the retail sector. With the growing need for operational
efficiency and cost reduction, retailers are turning to robots to streamline
their processes. For example, robots can help automate repetitive tasks such as
inventory management and shelf scanning, allowing human employees to focus on
more complex and customer-facing tasks.



PEST Analysis:

- Political: Governments around the world are supportive of automation and
robotics technologies as they offer potential benefits such as increased
productivity and economic growth.

- Economic: The retail industry is experiencing significant cost pressures,
including rising labor costs. Retail robots can help mitigate these costs by
reducing the need for human labor.

- Social: Consumers increasingly expect seamless and efficient shopping
experiences. Retail robots can help meet these expectations by providing
personalized assistance and ensuring product availability.

- Technological: Advancements in robotics technology, artificial intelligence,
and machine learning are driving the growth of the retail robots market. These
technologies enable robots to perform complex tasks and adapt to changing
environments.



Key Takeaways:

1. The global retail robots market is expected to witness high growth,
exhibiting a CAGR of 30.1% over the forecast period. This growth is attributed
to the increasing adoption of automation in the retail sector.

2. North America is expected to be the fastest-growing and dominating region in
the retail robots market. The region is witnessing significant demand for
retail robots, driven by the presence of major retail giants and increasing
investments in automation.

3. Key players operating in the global retail
robots market include Amazon Robotics, Bossa Nova, Simbe Robotics, ABB
Robotics, Greyorange, Softbank Robotics, Honda Motor Co. Limited, and others.
These players are focusing on product innovation, partnerships, and
acquisitions to strengthen their market position.



In conclusion, the global retail robots market is experiencing rapid growth due
to the increasing adoption of automation in the retail sector. Retailers are
leveraging robots to enhance operational efficiency, reduce costs, and improve
customer experiences. With advancements in technology and favorable government
support, the market is poised for significant growth in the coming years.