In-Store Robotics Services Market Size (2024 - 2030)

The Global In-Store Robotics Services Market was valued at USD 5.83 Billion in 2023 and is projected to reach a market size of USD 39.87 Billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 31.61%.

Retail robots are artificial intelligence (AI)-enabled solutions that gather data from customers' habits and preferences with the highest accuracy. This collected data assist retailers to boost their revenue and sales by recommending relevant or related products to customers. One of the industries that have highly benefited from the introduction of AI and robotics is the retail industry. Robotic services have been developed 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 anticipated to increase with the use of robotics services and AI. Retail businesses benefit from the use of robotics by becoming more customer-oriented.

In-store robotics services are the utilization of robotics services in retail stores, such as supermarkets, specialty stores, and convenience stores, to incorporate automation into several everyday tasks. These tasks include stock management, shelf-scanning, product delivery, sorting and picking products, product tracking, stock replenishment, customer service, and store cleaning and maintenance. These tasks enable retailers to limit manual errors, minimize delays, improve operational efficiency, enhance customer experience, reduce labor costs, and boost sales. As a result of these advantages, the global in-store robotics services market is estimated to have a fast CAGR during the forecasted period.

Global In-Store Robotics Services Market Drivers:

The growing demand for automation and personalized services in the retail industry is fueling the growth of the global in-store robotics services market.

In-store robotics services enhance customer experience by providing them with personalized service, which helps in increasing their engagement. Additionally, 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 help of integrated artificial intelligence (AI) systems, robots can process and analyze large volumes of data related to retail stores. In-store robots can also help in making accurate operational decisions by collecting more precise product information from customers. Therefore, this factor drives the demand for in-store robotics services.

The rising labor costs in the retail industry are another factor contributing to the growth of the global in-store robotics services market.

The cost of retail staff accounts for about 65% of the total operating costs of a retailer. There are two types of workers for operational tasks, direct and indirect. Operations are performed and executed by direct staff, while back-end support is performed by indirect staff. Retailers are encountering increased expenses due to the rise in global inflation. Additionally, concerns about productivity, quality control, and safety have arisen owing to the steady rise in the number of elderly staff in developing nations. As a result, the implementation of automation solutions has emerged as a significant tool for addressing staff aging and high wages. Retailers have come to rely on robotics services as a simple and efficient way for reducing operational costs and performing all major tasks in a retail store. Therefore, this factor also drives the demand for in-store robotics services.

Global In-Store Robotics Services Market Challenges:

The global in-store robotics services market is encountering challenges, primarily in terms of the high cost of installation and maintenance and data privacy. Retail businesses can face issues in the installation and maintenance of robots as robots with advanced features that are capable of performing significant tasks in a retail store can be expensive. Moreover, concerns related to secure data storage and consent management have increased due to the rising threat of cyber-attacks and security breaches, which not only increases the risk of misuse of client information but also increases the cost of integrating high-end cyber-security systems in robotics services. Thus, these challenges inhibit the growth of the global in-store robotics services market.

Global In-Store Robotics Services Market Opportunities:

Market expansion strategies present lucrative opportunities in the global in-store robotics services market. Given the rising demand for in-store robotics services due to the increasing demand for automation and personalization and the rising labor costs in the retail sector, major in-store robotics services providing companies can stand to gain significantly from this opportunity by expanding their robotics services to emerging markets, in order to broaden their customer base and boost their overall revenue.

COVID-19 Impact on the Global In-Store Robotics Services Market:

The outbreak of the COVID-19 pandemic substantially impacted the global in-store robotics services market. The implementation of strict lockdowns, traveling restrictions, and social distancing measures across several nations hindered many companies' manufacturing capacities and caused a shortage of skilled workforce. The pandemic caused disruptions in supply chains and the distribution of goods and services, which highly affected the production of robots and the deployment of their services in retail stores. Moreover, offline retail stores were forced to shut down or reduce their operations owing to the lockdown restrictions. These factors negatively impacted the growth of the global in-store robotics services market. However, the pandemic accelerated the deployment of robotics services in brick-and-mortar stores due to the lockdown and traveling restrictions. In addition, the use of robots reduced the need for human staff, which helped in minimizing the risk of exposure to the COVID-19 virus. These factors positively impacted the market's growth. Therefore, the global in-store robotics services market experienced both challenges and opportunities during the difficult time of the COVID-19 pandemic.

Global In-Store Robotics Services Market Recent Developments:

• In March 2023, BJ's Wholesale Club, a membership-only retail chain offering a wide range of consumer goods in a warehouse-like space, and Simbe Robotics, Inc., an automation solutions and robotics company, unveiled their partnership to deploy Simbe Robotics, Inc. business intelligence solution, Tally, to all club locations of the BJ's Wholesale Club. The AI-powered solution of Simbe Robotics, Inc. will improve operational efficiencies and the member experience by providing increased visibility into club conditions and deeper business insights across the chains.
• In November 2022, SoftBank Robotics America, Inc., a subsidiary of SoftBank Robotics Group Corp. providing practical robotics and automation solutions, and Gausium, an autonomous cleaning robot manufacturer, unveiled their partnership to deploy automated robotic solutions for indoor use to the United States Market. This partnership will assist businesses in successfully implementing, incorporating, and scaling robotics services within their operations.

IN-STORE ROBOTICS SERVICES MARKET REPORT COVERAGE:

Global In-Store Robotics Services Market Segmentation:

Global In-Store Robotics Services Market Segmentation: By Type

• Mobile Robotics
• Stationary Robotics
• Semi-Autonomous Robotics

Based on the type, the global in-store robotics services market is segmented into mobile robotics, stationary robotics, and semi-autonomous robotics. In 2022, the mobile robotics segment held the highest market share. The growth can be attributed to the ability of mobile robots to perform several tasks in retail stores, including customer services, stock management, and sales assistance. Mobile robots have computer vision capabilities, which assist them in accurately observing their environment in real-time. This feature is highly beneficial, especially in settings that are constantly changing and shifting. In addition, 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 quickly adapt to new environments.

Due to the increasing demand for in-store robotics services that can easily and quickly adapt to their surroundings and can remove the potential of human error by performing easily repeatable tasks, resulting in the enhanced overall safety of the retail store, the mobile robotics segment will continue to expand at the fastest rate over the outlook period.

Global In-Store Robotics Services Market Segmentation: By Function

• Customer Service
• Cleaning and Maintenance
• Stock Management
• Others

Based on the function, the global in-store robotics services market is segmented into customer service, cleaning and maintenance, stock management, and others. In 2022, the stock management segment held the highest market share. The growth can be attributed to the ability of in-store robots to easily perform tasks related to stock management, such as shelf scanning, product tracking, 3D location of goods, and stock replenishment. Robots assist in eliminating human errors, speeding up order fulfillment, lowering overhead and running costs, and facilitating better stock management. These factors help in increasing operational efficiency, customer loyalty, and store sales.

Due to the increasing demand for robots in enhancing customer experience by providing them with personalized recommendations, product information, and sales assistance, the customer service segment is anticipated to expand at the fastest rate over the outlook period.

Global In-Store Robotics Services Market Segmentation: By Application

• Convenience Stores
• Hypermarkets or Supermarkets
• Specialty Stores
• Others

Based on the application, the global in-store robotics services market is segmented into convenience stores, hypermarkets or supermarkets, and specialty stores. In 2022, the hypermarkets or supermarkets segment held the highest market share. The growth can be attributed to the increasing demand for robotics services in large retail facilities, which require vast inventory management, stock replenishment, customer service, cleaning and maintenance, and security.

Due to the increasing demand for robots providing customers with personalized experiences and customized promotions in retail stores that offer unique products, the specialty stores segment is anticipated to expand at the fastest rate over the forecast period.

Global In-Store Robotics Services Market Segmentation: By Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East and Africa

In 2022, the region of North America held the largest share of the global In-Store Robotics Services market. The growth can be attributed 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 increasing demand for automation and personalization in large retail facilities, such as Walmart, Dollar General, Target, and Amazon, and the increasing need for enhancing customer experience and operational efficiency. In addition, the region is home to several significant market players, including Bossa Nova Robotics, Simbe Robotics, Inc., GreyOrange Pte. Ltd., Locus Robotics, and Brain Corporation.

Due to the increasing demand for robotics services in the growing number of retail facilities in nations, such as China, Japan, India, and South Korea, the region of Asia-Pacific is anticipated to expand at the fastest rate over the outlook period.

Global In-Store Robotics Services Market Key Players:

1. Bossa Nova Robotics (United States)
2. SoftBank Robotics Group Corp. (Japan)
3. ABB Ltd. (Switzerland)
4. Simbe Robotics, Inc. (United States)
5. GreyOrange Pte. Ltd. (United States)
6. Aethon Inc. (United States)
7. Universal Robots (Denmark)
8. Balyo, Inc. (United States)
9. Locus Robotics (United States)
10. Brain Corporation (United States)