Global Retail Automation Market was valued US$ 11.3 Bn in 2017 and is expected to reach US$ 26.7 Bn by 2026, at CAGR of 11.35% during forecast period.
The growing demand for retail automation can be attributed to the increasing demand among business optimization and improvement in service quality. Retail automation provides an integrated tool to manage retail activities such as product handling, time & attendance, workforce management, task management, store audit, and others. The software increases workforce productivity and enhances store productivity. Changes in customer behavior and an increase in product measurements are factors driving the growth of market. The growing penetration of the Internet of Things (IoT) and enhanced internet accessibility, which help direct digital controls for retail automation over the projected period.
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Expanding incorporation of digital capabilities is projected to increase the use of automation. The companies in retail industries are investing in technologies to understand consumer behavior to shape their strategies, in order to sustain in the market. Consumers are demanding quality of product and service because of which the integration of automation in the retail industry is becoming a key part. Additionally, they are encouraging customers to go cashless, which is fueling the growth of retail industry thereby ascending the retail automation market.
There are huge opportunities for advancements in retail automation systems because of the increasing usage of smartphones and enhanced internet accessibility. On account of this, the retail automation market is expected to grow at a higher CAGR during the forecast period. The increasing adoption of the technology by a number of end users such as supermarkets, hypermarkets, convenience stores, fuel stations, and retail pharmacies is expected to drive the market during the forecast period.
Based on end user the supermarkets is dominating the segment during the forecast period. The number of supermarkets across the globe is increasing because of the enormous rise in consumers and the growing demand for high-quality products. Also, consumers search every good in one place to purchase without comprising on quality and service, which is compelling the players to invest in supermarkets. This is likely to drive the growth of retail automation, owing to the robust analytics offered by the system, which helps in taking strategic decisions.
North America is expected to hold the largest share in the retail automation during the forecast period. Also, the region is likely to witness high growth rate between 2017 and 2026 because of its expanding retail industry worldwide. Overall annual retail sales of the U.S. have increased by 4.5% on an average in 2015. According to its revenue numbers, the country is leader in the global retail industry. Out of the top 10 global retail companies worldwide, 5 of them are based in the U.S. and the other five are Europe based.Also, RFID systems are improving and tags are less expensive which helps the organizations to invest in the retail automation market. In Asia-Pacific region, an emerging country like China, Japan, and India is an emerging market for the retail automation market and expected to be the highest CAGR in the coming years due to the high growth in infrastructural building projects in this region.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the Global Retail Automation Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Retail Automation Market.
Scope of Global Retail Automation Market:
Global Retail Automation Market, By Component:
Global Retail Automation Market, By Product:
• Barcode and RFID
• Automated conveyor
Global Retail Automation Market, By Type:
• Service kiosks
• Retail kiosk
• Retail apps
• Retail operations
Global Retail Automation Market, By End-User:
• Convenience stores
• Fuel stations
• Retail pharmacies
Global Retail Automation Market, By Region:
• South America
• Middle East & Africa
Key Players Operated in Market Include:
• Toshiba Global Commerce Solutions, Inc.
• Outerwall Inc.
• NCR Corporation
• Honeywell International Inc.
• Fujitsu Limited,
• First Data Corporation
• Diebold Nixdorf, Incorporated.
• Datalogic S.P.A
• Casio Computer Co., Ltd
• Qr Retail Automation (Asia) SdnBhd
• ECR Software Corp
• Xerox Corporation
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