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The inventory robots market share is expected to increase by USD 34.15 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 13.5%.
This inventory robots market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers inventory robots market segmentation by product (hardware and solutions) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The inventory robots market report also offers information on several market vendors, including Bastian Solutions LLC, Bossa Nova Robotics, Brain Corp., Fellow Inc., Grey Orange Pte. Ltd., Jabil Inc., Keonn Technologies, KION GROUP AG, MetraLabs GmbH, PAL Robotics SL, Simbe Robotics Inc., and Zebra Technologies Corp. among others.
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The increase in automation by retailers to combat competition is notably driving the inventory robots market growth, although factors such as the high cost of deployment, which is limiting the adoption by small retailers may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the inventory robots industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Inventory Robots Market Driver
One of the key factors driving the global inventory robots market growth is the increase in automation by retailers to combat competition. Retailers have been focusing on strategies that can help them reduce the involvement of human workers in repetitive tasks owing to the high wages. Vendors in the global inventory robots market have introduced offerings that can enhance the customer experience by ensuring that products are always available in the right location. Retailers such as Walmart Stores, Adler Modemarket, Lowes, and Schnuck Markets have invested in robotics for inventory management. Thus, the increasing competition among the leading retail stores will lead to the introduction of innovative solutions, which will drive market growth during the forecast period.
Key Inventory Robots Market Trend
The emergence of advanced fleet management and visualization software is one of the key inventory robots market trends that is expected to impact the industry positively in the forecast period. For instance, SIMBE ROBOTICS offers fleet management tools to monitor inventory robots. Fetch Robotics FetchCore is a cloud-based software for deploying, operating, monitoring, and optimizing the company's robots. In addition, vendors are also increasingly focusing on developing software that can link theoretical AutoCAD drawings to theoretical planogram designs to accurately calculate the return on investment on the shelf space. For instance, 4D Technologies offers 4D Space Genius to help retailers in making informed decisions, factoring in parameters such as the optimal location for each product and the customer's shopping basket size to maximize sales based on the geospatial information. Such innovations will further support the market growth in the coming years.
Key Inventory Robots Market Challenge
One of the key challenges to the global inventory robots market growth is the high cost of deployment, which is limiting the adoption by small retailers. For instance, the hardware cost itself can go as high as around USD 45,000, and the costs incurred due to the additional software and services further add to the overall cost. Thus, to cater to smaller retailers, several vendors are modifying their business models to ensure that small retailers can adopt inventory robots despite their budgetary constraints. For instance, vendors are adopting the robotics-as-a-service (RaaS) model, in which robots can be rented or leased on a monthly or hourly basis, along with upgrades, maintenance, and other basic services, to end-users. However, the high deployment cost of inventory robots will limit the market growth during the forecast period.
This inventory robots market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global inventory robots market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the inventory robots market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the inventory robots market encompasses successful business strategies deployed by the key vendors. The inventory robots market is concentrated and the vendors are deploying growth strategies such as technological innovations to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The inventory robots market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the inventory robots market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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