As per our research Report, the In-Store Robotics Services Market is forecasted to be growing at a CAGR of 31.61% from 2024 to 2030.
The gathered data assists retailers in boosting their revenue and sales by recommending relevant or related products to customers. One of the industries that have highly benefited from the initiation of AI and robotics is the retail industry. Robotic services have been modernised to the point where technology users have attained significant market benefits from the utilization of robots. The manufacturing capacity, sales, inventory management, customer service, goods transportation to the warehouse, and other commercial tasks are expected to rise with the use of robotics services and AI. Retail businesses benefit from the utilisation of robotics by becoming more customer-oriented.
In-store robotics services are the use of robotics services in retail stores, such as supermarkets, specialty stores, and convenience stores, to incorporate automation into several everyday tasks. These tasks involve stock management, shelf-scanning, product delivery, sorting and picking products, product tracking, stock replenishment, customer service, and store cleaning and maintenance. These tasks facilitate retailers to limit manual errors, minimize delays, better operational efficiency, enhance customer experience, lower labor costs, and boost sales. As a result of these benefits, the global in-store robotics services market is expected to have a fast CAGR during the forecasted period.
In addition, the incorporation of robotics services in brick-and-mortar stores increases operational efficiency, which results in boosted revenue and sales. Retailers can implement robotics services to perform several retail store functions, including shelf-scanning, stock replenishment, customer service, cleaning, maintenance, etc. With the assistance of integrated artificial intelligence (AI) systems, robots can digest and analyse large volumes of data related to retail stores.
The cost of retail staff accounts for about 65% of the total operating expenses of a retailer. There are two varieties of workers for operational tasks, direct and indirect. Operational activities are performed and executed by direct staff, while back-end support is performed by indirect staff. Retailers are facing increased expenses due to the rise in global inflation. In addition, concerns about productivity, quality control, and safety have arisen due to the steady rise in the number of elderly staff in developing nations. Resultantly, the implementation of automation solutions has emerged as a significant tool for addressing staff aging and high wages. Retailers have come to depend on robotics services as a simple and efficient way to reduce operational costs and perform all major activities in a retail store. Therefore, this factor also propels the demand for in-store robotics services.
Retail businesses can encounter issues in the installation and maintenance of robots as robots with advanced features that can perform significant tasks in a retail store can be expensive. Furthermore, concerns related to secure data storage and consent management have grown due to the rising threat of cyber-attacks and security breaches, which not only raise the risk of misuse of client information but also increase the cost of integrating high-end cyber-security systems in robotics services. Thus, these challenges affect the growth of the global in-store robotics services market.
Market expansion strategies present lucrative offers in the global in-store robotics services market. Given the increasing demand for in-store robotics services due to the increasing demand for automation and personalization and the growing labour costs in the retail sector, major in-store robotics services providing companies can stand to earn significantly from this opportunity by expanding their robotics services to emerging markets, to broaden their customer base and boost their overall revenue.
Key Market Insights:
Based on the type, the global in-store robotics services market is split into mobile robotics, stationary robotics, and semi-autonomous robotics. In 2022, the mobile robotics segment held the biggest market share. The growth can be dedicated to the ability of mobile robots to perform several activities in retail stores, including customer services, stock management, and sales assistance. Mobile robots have computer vision capabilities, which assist them in exactly observing their environment in real-time. This property is highly beneficial, especially in settings that are constantly changing and shifting. Additionally, mobile robots utilize onboard intelligence systems and artificial intelligence (AI) to learn about their surrounding environment through either uploading a blueprint or driving around and developing a map. This feature makes it easier for mobile robots to swiftly adapt to new environments.
Based on the function, the global in-store robotics services market is split into customer service, cleaning and maintenance, stock management, and others. In 2023, the stock management segment held the largest market share. The growth can be directed to the ability of in-store robots to easily work on tasks related to stock management, such as shelf scanning, product tracking, 3D location of goods, and stock replenishment. These forces help in increasing operational efficiency, customer loyalty, and store sales.
Based on the application, the global in-store robotics services market is split into convenience stores, hypermarkets or supermarkets, and specialty stores. In 2023, the hypermarkets or supermarkets segment held the biggest market share. The growth can be credited to the increasing demand for robotics services in large retail facilities, which need vast inventory management, stock replenishment, customer service, cleaning and maintenance, and security.
In 2023, the region of North America held the biggest share of the global In-Store Robotics Services market. The growth can be directed to the presence of a well-established retail sector in nations, such as the United States and Canada, the high-adoption rate of in-store robotics services due to the rising demand for automation and personalization in large retail facilities, such as Walmart, Dollar General, Target, and Amazon, and the growing need for enhancing customer experience and operational efficiency. Additionally, the region is home to many significant market players, including Bossa Nova Robotics, Simbe Robotics, Inc., GreyOrange Pte. Ltd., Locus Robotics, and Brain Corporation.
Mobile Robotics
Stationary Robotics
Semi-Autonomous Robotics
Customer Service
Cleaning and Maintenance
Stock Management
Others
Convenience Stores
Hypermarkets or Supermarkets
Specialty Stores
Others
North America
Europe
Asia-Pacific
South America
Middle East and Africa
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