Seattle, WA -- (SBWIRE) -- 11/22/2019 -- Global Retail Robotics Market was valued at USD 19.4 Billion in 2018 and is projected to reach USD 144.93 Billion by 2026, growing at a CAGR of 28.96 % from 2019 to 2026.
What is Retail Robotics?
Robots have moved beyond the realm of traditional jobs, its application in retail is new. They are revolutionizing the retail sector, their use in retail offers many advantageous and is a vital factor in enhancing the customer experience. They are used in the retail industry to increase the efficiency of work and improve order accuracy.
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Technological innovation together with the need for better sales strategy and inventory management has led to high demand for robots in the retail sector. Artificial Intelligence, analytics and machine learning in combination with robots are changing the nature of customer experience in retail sectors.
The rapid growth of online retail and the quick-service restaurant industry has resulted in its increased adoption, Further, growth in investment by the global player is accelerating growth at a high pace. Companies with large enough budgets seem to be taking robotics innovation in-house. Among these recent innovations are Lowebot, Tally, Pepper, Amazon Go stores, Echos, Alexas, Kivas, Chloe and Domino's Robotic Unit. Robots have greater spending than humans, hence it is a bit difficult to achieve a return on investment, also they can't improve their work efficiency outside of predefined programming. This may restrain the growth of the retail robotics market.
Global market including some of the major players such as ABB Robotics, Aethon, Alphabet Inc., GreyOrange, Simbe Robotics, Softbank Group Corp, Amazon Robotics, Bossa Nova, Rethink Robotics and Honda Robotics. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
The market estimation process is conducted with the data obtained from secondary and primary research. This includes market top-down, bottom-up approach, and market breakdown. Different statically analyses are carried our such as future market size, computation of CAGR, and market distribution. Different macroeconomic factors are considered during these computations namely gross national product (GNP), unemployment rates, and consumer price index. Each data is validated through the process of data triangulation method for the final market estimation.
This marks the penultimate stage of the research process that includes a complete report for the Retail Robotics market. The document includes an exhaustive market report with representation geographical trends with a comprehensive presentation. This market report can assist marketers to make strategic decisions.
The Retail Robotics Market report offers you perceptive data of the market and highlights its commercial landscape
It evaluates production processes, major bottlenecks, and solutions to reduce risks associated with R&D
The Retail Robotics Market report highlights pivotal factors that propel and hinder the market growth
It focuses on major growth strategies adopted by leading market players
The Retail Robotics Market report accurately projects the global market value and regional share during the forecast period
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