Drones and the Future of Hardware Retailers
Overview
As drone technology continues to mature, it presents a wealth of opportunities for hardware retailers. From remodeling the distribution and delivery sector to promoting innovative in-store experiences for customers, drones are on course to revolutionize various aspects of the hardware retail industry. Key statistics include: the global commercial drone market is expected to exceed $129 billion by 2028, with a CAGR of 56.5% between 2021 and 2028; at least 40% of all businesses are likely to use drone technology by 2022, including hardware retailers; and the use of drone technology could reduce delivery times by 50–75%.
Opportunities in Retail
Taking advantage of drone technology is a must for forward-thinking hardware retailers. A quick look at the statistics sheds light on why. The global commercial drone market, currently valued at $10.1 billion, is projected to skyrocket to over $129 billion by 2028, with a CAGR of 56.5% from 2021 to 2028. This astronomical growth indicates that drones are becoming a mainstay in many industries, including retail. Drones can assist in various segments of the hardware retail sector, ranging from inventory management to delivery.
Revolutionizing Delivery
One key area where drones will play a pivotal role is in delivery. Realizing the potential of this technology, 40% of all businesses are expected to adopt drone technology by 2022, marking a transformative shift in how goods are transported. For hardware retailers, this could eliminate the need for traditional distribution methods, significantly cutting costs. Furthermore, by reducing delivery times by 50-75%, drone technology can provide a much-needed edge in today’s fast-paced retail environment where consumers increasingly value speed and convenience.
In-Store Experience and Beyond
Drones are not only helping to reshape logistics in the hardware retail sector but are also creating opportunities for improved in-store experiences. With drones, retailers can showcase products in unique ways, provide customers with interactive experiences, and ensure that their in-store environments stay fresh and exciting. In fact, three in ten consumers stated that they would visit a retail store more often if they could interact with drones in the store.
Key Takeaways
- The global commercial drone market is predicted to reach $129 billion by 2028, with a CAGR of 56.5% from 2021 to 2028, signaling an inherent opportunity for hardware retailers.
- 40% of all businesses are expected to use drone technology by 2022 to streamline their services, particularly in delivery.
- Drone applications in hardware retail extend beyond delivery, with innovative uses within stores tending to increase customer visits and engagement.
- Drone technology can reduce delivery times by up to 75%, meeting the increasing customer demand for swift and convenient delivery options.
3Laws Robotics
3Laws is championing a new era of safe and efficient robotics in sectors such as hardware retail. By helping businesses navigate the substantial certification challenges, 3Laws Robotics is accelerating the adoption of robotic systems, particularly drones in the hardware retail sector.
3Laws' software, 3Laws Supervisor, leverages Control Barrier Functions (CBFs) technology developed at Caltech to offer safety and reliability to robotic systems. Proven use cases include warehouse automation, yielding a 40% efficiency gain for forklift customers, safe human-robot interactions, and reactivity in dynamically changing environments.
Posing as a leader in next-generation robotics safety, 3Laws' software is adaptable, compatible with ROS and ROS2, and capable of proactively approaching safety – a characteristic that stands it out from traditional e-stop methods. Its focus on minimizing downtime due to unnecessary e-stops or collisions also gears towards operational efficiency. As such, 3Laws is positioned to support a future where drones and other robotics significantly penetrate the hardware retail industry.