Humanoid robots, self-driving cars, and fears of artificial intelligence have received a lot of attention from investors and the mainstream news media. However, automation continues to spread, benefiting factories, warehouses, and other businesses. Practical applications such as robots in retail are areas of future market growth.
Fellow Robots was among the exhibitors at RoboBusiness 2017 late last month in Santa Clara, Calif. In the video below, CEO Marco Mascorro tells Robotics Business Review‘s Jim Wagner how his company has focused on robots in retail.
A spinoff from Singularity University in Silicon Valley, Fellow Robots worked with retailers to solve their problems with robotics, Mascorro says. Understanding one’s market and then designing a solution for it was a common theme at the conference.
The service robotics market will grow from $4.75 billion in 2012 to $23.9 billion in 2022, according to reports from Grand View Research and Markets and Markets. The analyst firms’ predictions include healthcare, education, and logistics in addition to retail automation.
NAVii, Fellow Robots’ mobile robot, can roam a store and check inventory and pricing. Mascorro notes that there is a lot of opportunity for robots in retail, and his company will continue to focus on retailers in the U.S. and Japan such as Lowe’s, which has the OSHbot.
[note style=”success” show_icon=”true”]
More on Robots in Retail:
- Robot Experience the Future of Business, According to Disney
- How Many Robots Does It Take to Screw in a Light Bulb?
- AI System Could Help Robots See Around Corners
- Servicing Robots as a Service a Market Disruptor, Says Ricoh RoboBusiness Panelist
- Healthcare AI to Be First Point of Contact for Patients, Policymakers
- Delivery Robots Approaching Level 5 Autonomy, Says Starship CEO
- Impact of Automation Will Be Indirect as Robotics Develops
- Fears of Robots Taking Jobs Require Response, Says LivePerson
- CES 2015: Robotics Finally Expressing Self-Assurance and Drive