Retail Automation Market - Global Industry Analysis

Retail Automation Market

Retail Automation Market industry, Size, and Company Strategies 2022

Category: Technology & Media Report Format : PDF Pages: 190 Report Code: ZMR-1465 Published Date: May-2022 Status : Published

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Retail automation is defined as the adoption of technology to semi-automate or fully automate retail locations. Various technologies involved in these operations are self-service machines dispensing products, machines providing customer service functions, and large format vending machines that fully automates the retail store.

The retail industry is undergoing remarkable and extensive modifications. Owing to increasing competition rivalry coupled with growing customer expectations, retailers are focusing to provide delightful experience at a lower cost. Hence, to make better decisions, adapt to change, and explore new market opportunities to exploit, retail automation is implemented to improve operations, products, and service. These factors are responsible to boost global retail automation market during the forecast period.

Global retail automation market is growing along with the retail industry. The growth is even attributed to increasing demand for automation tools. Increasing implementation of digital capabilities is estimated to fuel the use of automation in numerous sectors, leading to an expansion in the global retail automation industry. Manufacturers in the retail industry are investing heavily in understanding the consumer behavior to adopt various strategies such as product expansion, new product launch, mergers & acquisitions, etc. Consumers are demanding quality of service and product due to which integration of automation is becoming vital in the retail industry. Furthermore, the retail industry is encouraging consumers to go cashless for their ease and safety, thus fueling retail industry growth, leading to ascending retail automation market.

Global Retail Automation Market

Consumer demand evolution along with transformative technological innovation will consistently drive fundamental changes. Boundaries between manufacturer and retailer would continue to blur, as producers would evolve to meet customer’s need. These factors would lead the consumer packaged goods and retail landscape to modify more in the coming decade than it has witnessed in the last 40 years. Preliminary drivers of the retail industry will be based on understanding and connection with the empowered consumer, embracing transformative business models, and incorporating disruptive technologies. These modifications can be achieved through the implementation of retail automation technology in the global retail market during the forecast period.

Global retail automation market is classified on the basis of the product as a point of sale, barcode and RFID, ESL, camera, AGV, ASRS, and automated conveyor. In terms of types, global retail automation market is fragmented as vending machines, service kiosks, retail kiosk, self-checkout, retail apps, and retail operations. Various end-users of the technology include a hypermarket, supermarket, convenience stores, fuel stations, and retail pharmacies.

Regional segmentation of the global retail automation market includes North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. North America is projected to generate the highest revenue in the global retail automation market. The share is accounted to need for increased accuracy and time reduction, high living standards, and rising demand for efficient and developed retail services. Presence of regional key players such as “Toshiba Global Commerce Solutions Inc.”, “NCR Corporation”, and “First Data Corporation” are contributing to the growth of regional retail automation market.

Key players in the global retail automation market include ZIH Corp, Toshiba Global Commerce Solutions, Inc., Pricer, Outerwall Inc., NCR Corporation, Honeywell International Inc., Fujitsu Limited, First Data Corporation, Diebold Nixdorf Incorporated, and Datalogic S.P.A.

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