Retail Automation Market is anticipated to reach USD 19.17 billion by 2025. Retail automation implies the usage of machinery and smart devices to undergo customized operational procedures in order to decrease the cost and improve the efficiency. Retail automation offers an integrated tool to carry out the retail activities such as time & attendance, product handling, workforce management, store audit, task management, and others.
The
factors that propel the growth of the retail automation industry include
reduced cost of retailers, benefits of business optimization, increase in
demand for retail automation products, and rising demands of customers for fast
service and quality. On the other hand, there are factors that may hamper the
growth of the market including the increase in need to monitor self-service
kiosk, and requirement of high initial investment. Retail Automation Market is
anticipated to grow at a significant CAGR of 8.7% in the upcoming period as the
scope, product types, and its applications are increasing across the globe.
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Retail
Automation industry may be explored by product, implementation, end user, and
geography. The market may be explored by product as POS, Barcode and RFID,
Cameras, Autonomous Guided Vehicles, Electronic Shelf Labels, and Others. The
“Barcode and RFID” dominated the retail automation market in 2016 and is
anticipated to maintain its dominance by 2025 owing to rising security concerns
regarding administrative thefts, errors, and other security problems.
The
market may be explored by implementation as Warehouse, and In-store. The
“Warehouse” dominated the retail automation industry in 2016 and is anticipated
to maintain its dominance by 2025 owing to large investments in warehouse,
technological developments, increase in the number of stock keeping units
(SKUs),increase the efficiency of their warehouse operations. The market may be
explored by end user as Supermarkets, Hypermarkets, Convenience Stores, Retail
Pharmacies, and Fuel Stations. The “Retail Pharmacies” section dominated the
Retail Automation Market in 2016 and is anticipated to maintain its dominance
by 2025.
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North
America accounted for the major share of the market size in 2016 and will
continue to lead in the forecast period. The factors that could be attributed
to the growth include a large consumer base, and established manufacturers.
North American is followed by Europe, and Asia Pacific.
Some
of the key players that fuel the growth of the retail automation industry
comprise Diebold Nixdorf, Datalogic S.P.A, First Data Corporation,
Incorporated, Fujitsu Limited, NCR Corporation, Honeywell International Inc.,
Outerwall Inc., ZIH Corp and Pricer, Toshiba Global Commerce Solutions, Inc.
The leading companies are taking up partnerships, mergers and acquisitions, and
joint ventures in order to boost the inorganic growth of the industry.
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