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Retail Automation Market Worth About USD 19.17 million By 2024

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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