The use of robots to help people shop is expected to see a massive increase for the rest of this decade, according to a report from Research & Markets.

The global market for shopping assistance robots was valued at an estimated $63.1m in 2023 and is projected to reach $626.9m by 2030, at a CAGR of 38.8%.

The growth in the market is driven by several factors. Technological advancements in artificial intelligence (AI) and machine learning have enhanced the capabilities of these robots, making them more efficient and versatile. Additionally, the increasing adoption of automation in retail to improve operational efficiency and reduce labour costs is a crucial driver. Consumer behaviour is also a significant factor, with modern shoppers increasingly expecting personalised and tech-enhanced shopping experiences.

The rising trend of smart retail and the integration of IoT devices in stores further boost the demand for shopping assistance robots. Furthermore, the competitive retail landscape compels businesses to differentiate themselves through innovations, fostering greater investment in robotic technologies.

The combination of these factors ensures the market for shopping assistance robots will continue to expand, transforming the retail experience.

The interactive robots segment is expected to reach $358.7m by 2030 at a CAGR of 37.4%. The robotic shopping carts segment is also set to expand at 41.0% CAGR over the analysis period.

The US market was estimated at $16.6m in 2023, and China is forecasted to see a 36.6% CAGR to reach $90.6m by 2030. Other key regions include Japan, Canada, Germany and the Asia-Pacific.

Key players in the market include Amy Robotics, Badger Technologies, El Sistema Inteligente Suzhou Walklake (Benebot), Fdata, Five Elements Robotics, LG Electronics, Lowe’s Innovation Labs. Pal Robotics, Promobot, Pudu Robotics, Robot Labs and SoftBank Robotics.

More details on the report can be found at www.researchandmarkets.com/reports/5980722/shopping-assistance-robots-global-strategic.