06-Jul-2018 | Zion Market Research
Zion Market Research has published a new report titled “Retail Automation Market by Product (Point of sale, Barcode and RFID, ESL, Camera, AGV, ASRS, and Automated conveyor), by Type (Vending machines, Service kiosks, Retail kiosk, Self checkout, Retail apps, and Retail operations), and by End-User (Hypermarket, Supermarket, Convenience stores, Fuel stations, and Retail pharmacies) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024’’. According to the report, global retail automation market was valued at around USD 10 billion in 2017 and is expected to reach approximately USD 21 billion in 2024, growing at a CAGR of slightly above 10.0% between 2018 and 2024.
Retail industry automation is replacing traditional methods of ledger models and cash register, making it more convenient for the customers to do their transactions in a shorter time period. The technology is trending in the retail market substantially, as retailers are implementing a blend of advanced booths, cell phones, and self-checkout frameworks for sustaining in the market.
Browse the full "Retail Automation Market by Product (Point of sale, Barcode and RFID, ESL, Camera, AGV, ASRS, and Automated conveyor), by Type (Vending machines, Service kiosks, Retail kiosk, Self checkout, Retail apps, and Retail operations), and by End-User (Hypermarket, Supermarket, Convenience stores, Fuel stations, and Retail pharmacies) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024 "report at https://www.zionmarketresearch.com/report/retail-automation-market
Retail automation technology is registering an increasing demand from the growing urban population, as it offers instant access and improved service quality for everything. Benefits such as improvement in service quality and business optimization have led to an increased penetration of the technology. Enhanced internet accessibility and increasing smartphone users have provided huge opportunities to retail automation market. Rising adoption of the technology by numerous end-user industries are estimated to boost the global retail automation market over the forecast timeframe.
The coming decade would be a golden age for the retail consumers, as shoppers would get more control and choices than ever before. They will be offered an array of products and services which will be personalized to their requirements and needs. Consumers will consistently demand quality and price transparency along with a wide range of convenient options. Overall, the retail experience will become more convenient, simple, exciting, and inspirational as per the consumer’s changing needs. These factors would propel the need for retail automation technology in the global market.
Growing popularity and awareness of retail automation technology is encouraging producers to invest in the research and development activities for developing cost-effective, more reliable, and better products. Companies are investing significantly to develop innovative products to enhance customer experience.
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. Radio-frequency identification (RFID) technology will gain prominence in the forecast period as it supports retailers to compete against online sellers by facilitating frequent inventory checks which leads to inventory accuracy. As per various types, global retail automation market is categorized into vending machines, service kiosks, retail kiosk, self checkout, retail apps, and retail operations. Self checkout segment is projected to witness substantial gains owing to its benefits to the retailers of providing better customer experience.
Automation is gaining prominence as retailers are deploying a combination of proximity beacons, digital kiosks, self checkout, mobile devices, task management, and workforce solutions to achieve a competitive edge in the market. Various end-users of the technology include hypermarket, supermarket, convenience stores, fuel stations, and retail pharmacies. Supermarket segment is estimated to account for the major share in global retail automation market over the forecast period owing to rising demand of the technology in urban population, as it offers instant access and improved service quality.
The Asia Pacific is accounting for a substantial share in the global retail automation market owing to escalating disposable income of urban and rural households. The spending power of the Chinese population has boosted considerably due to which retail market has grown into a largest and ever-increasing consumer market globally. It is a highly diversified and competitive market. Furthermore, government policies in developing countries like India regarding 100% FDI approval in single-brand retail will fuel competition in the industry for the region.
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.
The report segments the global retail automation market as follows:
Retail Automation Market: Product Segment Analysis
Retail Automation Market: Type Segment Analysis
Retail Automation Market: End-User Segment Analysis
Retail Automation Market: Regional Segment Analysis
Browse New Press Release: https://www.zionmarketresearch.com/news/retail-automation-industry
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