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: Leading bike shop in Germany implements new technology...
24.10.2022   #brick and mortar retail #Tech in Retail

Leading bike shop in Germany implements new technology

The Radhaus Ingolstadt impresses with a huge product range. Electronic shelf labels have now been introduced

Looking for a new bike from a world class bicycle shop? If you are in Germany, near Munich, then you must visit Radhaus Ingolstadt - the top bike shop in the region. ...

Thumbnail-Photo: Experience leads to success
22.11.2022   #online trading #brick and mortar retail

Experience leads to success

Modern Expo helps companies achieve their goals

Companies are not always able to meet all challenges on their own. Smaller businesses in particular are dependent on the support of experts. Modern Expo uses its experience to support retailers and entrepreneurs in the implementation and improvement ...

Thumbnail-Photo: The connected supermarket: shopping experience of the future?...
04.10.2022   #brick and mortar retail #retail

The connected supermarket: shopping experience of the future?

Bizerba presented a wide range of solutions for the retail trade at EuroCIS

A consistent shopping experience across all channels – no problem! Thanks to state-of-the-art devices and artificial intelligence, retailers can further strengthen customer loyalty. At EuroCIS 2022, Bizerba presented new solutions and ...

Thumbnail-Photo: Dobot launches Nova collaborative robots for retail automation...
30.12.2022   #brick and mortar retail #retail

Dobot launches Nova collaborative robots for retail automation

New robots are the first two Nova models with payloads of 2 kg and 5 kg for handling retail and physiotherapy tasks respectively

Labor shortages and rising costs around the world are two major headwinds to the retail and service sectors, opening up new opportunities of automation transformation. To better capture this newfound demand, Dobot has developed the Nova Series of ...

Thumbnail-Photo: Pixizoo: Digital price tags are a success among baby and childrens...
15.12.2022   #digitization #Tech in Retail

Pixizoo: Digital price tags are a success among baby and children's equipment

New initiatives and technologies to help Danish online giant Pixizoo achieve ambitious growth target

The online success Pixizoo has come to stay. A new capital injection and new initiatives will help to realize the company's ambitious growth target of 20 percent per year, among other things with the help from digital price tags from Delfi ...

Thumbnail-Photo: Hobro Vinhandel digitizes the store with electronic price tags...
09.12.2022   #digitization #Tech in Retail

Hobro Vinhandel digitizes the store with electronic price tags

Danish wine merchant invests in electronic price tags from Delfi Technologies and a new checkout system

The local wine shop in Hobro (Denmark) has existed for more than 10 years. A growth journey is underway, including a full digitizationof the store. Going from writing price tags in hand to a fully digital solution with a complete overview of and ...

Thumbnail-Photo: BP Group’s Aral selects Zebra Technologies to digitise its service...
19.10.2022   #software applications #software as a service (SaaS)

BP Group’s Aral selects Zebra Technologies to digitise its service station operations

German subsidiary streamlines front-line workflows to maintain compliance with Reflexis Task Management software solution

Zebra Technologies Corporation (NASDAQ: ZBRA), an innovator at the front-line of business with solutions and partners that deliver a performance edge, today announced that Aral AG has enhanced its customer experience by improving front-line ...

Thumbnail-Photo: Digital buffet signs create an overview of Meyers canteens...
28.10.2022   #Tech in Retail #personnel management

Digital buffet signs create an overview of Meyer's canteens

Danish food company Meyers sets course for better employee management and more appealing food presentation

The Danish food company, Meyers, today operates canteens and delivers lunch solutions to big parts of Denmark and wanted to optimize the time for their chefs and staff out in the many kitchens. At the same time, the dishes had to be presented more ...

Thumbnail-Photo: Save costs with modern technologies
02.01.2023   #retail #Tech in Retail

Save costs with modern technologies

Turning physical stores into digital assets – 30,000 retail stores worldwide already rely on digital IoT solutions

Retail is at the heart of our lives and societies, as it represents more than 20% of global GDP and 15% of jobs. With consumers changing their shopping habits, stores must now reinvent themselves and leverage new technologies to stay relevant in ...

Thumbnail-Photo: EuroShop 2023 – Are autonomous stores the future of retail?...
05.12.2022   #brick and mortar retail #digitization

EuroShop 2023 – Are autonomous stores the future of retail?

Checkout-free stores: Ringing in the changes

The digitalisation of the retail industry, which has been advancing at a rapid pace in recent years, has also led to equipping physical stores with more and more technological intelligence. ...

Supplier

EuroShop
EuroShop
Stockumer Kirchstraße 61
40474 Düsseldorf
Delfi Technologies GmbH
Delfi Technologies GmbH
Landgraben 75
24232 Schönkirchen
SES-imagotag SA
SES-imagotag SA
55 place Nelson Mandela
90000 Nanterre
Citizen Systems Europe GmbH
Citizen Systems Europe GmbH
Otto-Hirsch-Brücken 17
70329 Stuttgart
salsify
salsify
7 rue de Madrid
75008 Paris
iXtenso - retail trends
iXtenso - retail trends
Heilsbachstraße 22-24
53123 Bonn
Captana GmbH
Captana GmbH
Bundesstraße 16
77955 Ettenheim
Chili publish NV
Chili publish NV
Neue Schönhauserstraße 3-5
10178 Berlin
Zebra Technologies Europe Limited
Zebra Technologies Europe Limited
Mollsfeld 1
40670 Meerbusch
S-Payment GmbH
S-Payment GmbH
Am Wallgraben 115
70565 Stuttgart