The retail automation market size was valued at USD 15.4 Billion in 2021 and is expected to reach USD 35.1 Billion by 2030, expanding at a CAGR of around 9% during the forecast period, 2022 – 2030. The growth of the market is attributed to the growing consumer desire for rapid and high-quality service.
The technology utilized in the retail industry to automate routine tasks is referred to as retail automation. It mostly consists of online retailers, service providers, and supermarkets. Examples of retail automation includes retail kiosk, self-checkout, service kiosks, and vending machines that improve productivity and save labor costs.
Numerous advantages, including brand protection, greater operational effectiveness, and enhanced consumer satisfaction, have helped the retail automation market expand. It comprises software where managers can specify certain criteria to guarantee accurate and reliable task fulfilment.
Downtime is decreased when multiple technologies are automated concurrently and the next system is triggered as soon as one is finished. In order for a business to respond to demands more precisely and effectively, automation helps to boost its functionality and agility.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing adoption of technology by several end-users such as retail pharmacies, fuel stations, convenience stores, supermarkets, and hypermarkets is projected to drive the market.
- Factors such as transaction accuracy, quick transaction times, and low cost to retailers are estimated to fuel the market.
- Lack of knowledge about the advantages of retail automation is expected to hinder the market growth.
- Rising number of thefts has discouraged retailers adopt automation, which is restricting the market growth.
- R&D investment and technological advancement in virtual marketing is anticipated to create immense opportunities during the forecast period.
- The use of real-time analytics in automation is anticipated to offer lucrative opportunities for the market players.
Scope of Retail Automation Market Report
The report on the global retail automation market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Retail Automation Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2021
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Historic Data
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2019–2020
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Forecast Period
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2022 – 2030
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Segmentation
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Implementations (Warehouse and In-store), Types (Autonomous Guided Vehicle (AGV), Camera, Electronic Shelf Label (ESL), Barcode & RFID, Point-of-Sale (POS), and Others), and End-users (Retail Pharmacies, Fuel Stations, Single Item Stores, Supermarkets, and Hypermarkets)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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First Data Corporation, Zebra Technologies, ZIH Corp., E & K Automation GmbH, Toshiba Global Commerce Solutions, Outerwall Inc., Posiflex Technology Inc., NCR Corporation, KUKA AG, Incorporated, Inc., Pricer AB, Honeywell International Inc., Fujitsu Limited, Fiserv, Diebold Nixdorf, and Datalogic S.p.A.
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Retail Automation Market Segment Insights
Based on implementations, the market is bifurcated into warehouse and in-store. The in-store segment is projected to expand at a high CAGR during the forecast period. In developing countries, physical retail outlets are gradually growing in number.
Due to their simple accessibility, the large number of people prefer to purchase daily necessities from retailers in the densely populated developing regions. Thus, despite the development of e-commerce, some customers still like visiting and purchasing goods in stores. The increasing technologies in the retail sector is anticipated to attract large number of people into physical locations. Retailers have adopted automated technology in their physical stores as a result of their advantages.
On the basis of types, the market is segregated into autonomous guided vehicle (AGV), camera, electronic shelf label (ESL), barcode & RFID, point-of-sale (POS), and others. The barcode & RFID segment is estimated to account for a major market share during the forecast period.
Retailers are able to compete with online vendors because to RFID technology, which makes routine inventory checks easier and increases inventory accuracy. Retailers need to feel confident about their inventory situation, including details like the size level and color, in order to operate a profitable business.
In terms of end-users, the market is fragmented into retail pharmacies, fuel stations, single item stores, supermarkets, and hypermarkets. The supermarkets segment is estimated to grow at a rapid pace during the forecast period.
Even though there is a huge market for technologically advanced products, cost-effective solutions are also in high demand. The expansion of the Internet of Things (IoT) and improved internet accessibility have also contributed to better Machine to Machine (M2M) communication via direct digital controls.
On the basis of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America dominated the market in 2021 and is projected to maintain its dominance during the forecast period owing to presence of key market players in the region. Growth of the segment is attributed to the existence of a well-developed IT infrastructure.
Segments
The global retail automation market has been segmented on the basis of
Implementations
Types
- Autonomous Guided Vehicle (AGV)
- Camera
- Electronic Shelf Label (ESL)
- Barcode & RFID
- Point-of-Sale (POS)
- Others
End-users
- Retail Pharmacies
- Fuel Stations
- Single Item Stores
- Supermarkets
- Hypermarkets
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- First Data Corporation
- Zebra Technologies
- ZIH Corp.
- E & K Automation GmbH
- Toshiba Global Commerce Solutions
- Outerwall Inc.
- Posiflex Technology Inc.
- NCR Corporation
- KUKA AG, Inc.
- Pricer AB
- Honeywell International Inc.
- Fujitsu Limited
- Fiserv
- Diebold Nixdorf
- Datalogic S.p.A.
Competitive Landscape
Key players competing in the retail automation market include First Data Corporation, Zebra Technologies, ZIH Corp., E & K Automation GmbH, Toshiba Global Commerce Solutions, Outerwall Inc., Posiflex Technology Inc., NCR Corporation, KUKA AG, Inc., Pricer AB, Honeywell International Inc., Fujitsu Limited, Fiserv, Diebold Nixdorf, and Datalogic S.p.A.
Some of these players are using several business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instance,
- In January 2021, Leading supermarket e-commerce company Freshop was acquired by NCR Corporation.
- In December 2020, New PoS systems were released by Posiflex Technology, Inc. The HS-3314A has a compact body, high-speed removable thermal receipt printer.
- In March 2019, The Software Express was acquired by First Data. Through the acquisition, both companies will be able to increase their global reach, retail customers, financial institutions, and electronic payment activities.
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