Global Retail Automation Market Is Likely To Grow At A CAGR Value Of Around 10.7% By 2028

09-May-2022 | Zion Market Research

The Retail Automation Market was worth around USD 14,421.8 million in 2021 and is estimated to grow to about USD 26,540.2 million by 2028, with a compound annual growth rate (CAGR) of approximately 10.7 percent over the forecast period. The report analyzes the Retail Automation Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Retail Automation Market.

Retail automation is a sort of technology that acts as a fully automated retail store with software linkages. Retail automation saves time and allows customers to browse products using a touchscreen interface. The retail automation allows customers to select the goods of their choice and pay for them using a debit or credit card. One of the primary factors driving the growth of the retail automation market in the forecast period is the increase in demand for automation goods in retail around the world. In addition, due to the numerous benefits, retail automation provides, such as cheap cost, accuracy, speed, and high-quality performance, and the high deployment of automated technologies in the retail industry, it is anticipated to accelerate market growth in the coming years. The increased use of automation to automate numerous manual processes such as inventory management, bookkeeping, and accounting within the retail sector, as well as the surge in demand for quality and fast service, all have an impact on the market. Moreover, increased digitization, the expansion of the end-use industry, worries about security issues such as theft and inventory loss, and the emergence of Industry 4.0 all have a favorable impact on the retail automation market. The increased acceptance of cloud-based POS systems creates the profitable potential for market participants during the projection period. However, market growth is projected to be hampered by reliance on the internet and electricity and a lack of understanding. In the projected period, the retail automation industry is expected to face challenges due to a lack of experienced workers.

The Retail Automation Market is segregated based on Type, Component, Implementation, and Vertical. Based on Type, the global market is distinguished into Introduction, POS Terminal, Self-Checkout System, Interactive Kiosk, Camera, RFID and Barcode, Electronic Shelf Labels (ESL), Autonomous Guided Vehicle (AGV), Automatic Storage and Retrieval System (ASRS), Automated Conveyor, and Warehouse Robotics. Based on the Component, the global market is distinguished into Introduction, Hardware (Barcode Scanner, Vending Machines, e-POS Systems, Self-Scan Checkout systems, and Others), Software (Supply Chain and Inventory management software, Workforce management software, and Retails Apps and online store applications). Based on Implementation, the global market is distinguished into Introduction, On-Store Premise, and On-Warehouse, Based on Vertical, the global market is distinguished into Introduction, Hypermarkets, Supermarkets, Single-Item Stores, Apparels, Consumer Electronics, Gadgets, Quick-Service Restaurant, Automotive, Petrol Pumps/Fuel Stations, and Health and Retail Pharmacy.

Global Retail Automation Market

North America dominates the retail automation market because of the region's strong adoption of modern technologies and well-established infrastructure. The increased adoption of automation technology by key companies like Walmart and Amazon is expected to fuel the retail automation market in North America. Changes in consumer preferences also have a role in adoption. Major stores in the region have responded to customer complaints about slow checkout speeds and long line-ups by implementing a speedy and secure checkout experience. Furthermore, North America is regarded as a productive market for retail automation systems, as a result of which numerous manufacturers are relocating to the country in order to capture a wide set of clients, allowing them to gain economies of scale. The Asia Pacific is expected to witness substantial growth in the overall retail automation market Because of the increased use of digitalization in countries such as India and China. Due to the ease of availability of essential resources such as land and labor, leading firms in the retail automation market may also develop R&D centers in these nations.

Key players functioning in the Retail Automation Market include Datalogic S.p.A (Italy), First Data Corporation (US), NCR Corporation (US), Fujitsu Limited (Japan), Toshiba Global Commerce Solutions Inc. (US), Honeywell Scanning and Mobility (US), KUKA AG (Germany), Wincor Nixdorf AG (Germany), Zebra Technologies Corporation (US), Pricer AB (Sweden), Posiflex Technology Inc. (US), and E & K Automation GmbH (Germany).

Recent Developments

  • In 2020, Adroit Worldwide Media Inc. (AWM) Smart Shelf is funded by Datalogic. It provides a full collection of non-grocery and grocery retail solutions, including Inventory Intelligence, customer demographics, automated checkout, and a retail analytics engine.
  • In 2021, NCR Corporation has purchased Freshop Inc, a renowned grocery e-commerce startup. This acquisition will integrate e-commerce to NCR Corporation's premier retail core POS technology, allowing merchants to better service their customers' demands.

Browse the full Retail Automation Market By Type (Introduction, POS Terminal, Self-Checkout System, Interactive Kiosk, Camera, RFID and Barcode, Electronic Shelf Labels (ESL), Autonomous Guided Vehicle (AGV), Automatic Storage and Retrieval System (ASRS), Automated Conveyor, and Warehouse Robotics). By Component (Introduction, Hardware (Barcode Scanner, Vending Machines, e-POS Systems, Self-Scan Checkout systems, and Others), Software (Supply Chain and Inventory management software, Workforce management software, and Retails Apps and online store applications)). By Implementation (Introduction, On-Store Premise, and On-Warehouse). By Vertical (Introduction, Hypermarkets, Supermarkets, Single-Item Stores, Apparels, Consumer Electronics, Gadgets, Quick-Service Restaurant, Automotive, Petrol Pumps/Fuel Stations, and Health and Retail Pharmacy). Report at https://www.zionmarketresearch.com/report/retail-automation-market

The Retail Automation Market is segmented as follows:

By Type

  • Introduction
  • POS Terminal
  • Self-Checkout System
  • Interactive Kiosk
  • Camera
  • RFID and Barcode
  • Electronic Shelf Labels (ESL)
  • Autonomous Guided Vehicle (AGV)
  • Automatic Storage and Retrieval System (ASRS)
  • Automated Conveyor
  • Warehouse Robotics

By Component

  • Introduction
  • Hardware
  • Barcode Scanner
  • Vending Machines
  • e-POS Systems
  • Self-Scan Checkout systems
  • Others
  • Software
  • Supply Chain and Inventory management software
  • Workforce management software
  • Retails Apps and online store applications

By Implementation

  • Introduction
  • On-Store Premise
  • On-Warehouse

By Vertical

  • Introduction
  • Hypermarkets
  • Supermarkets
  • Single-Item Stores
  • Apparels
  • Consumer Electronics
  • Gadgets
  • Quick-Service Restaurant
  • Automotive
  • Petrol Pumps/Fuel Stations
  • Health and Retail Pharmacy

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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