The global retail automation market is expected to reach USD 19.17 billion by 2025.
Retail automation technology is witnessing increasing demand among the growing urban population since it offers improved service quality and instant access to everything ranging from carts to food. Advantages such as business optimization and improvement in service quality have resulted in an increased penetration of the technology.
Additionally, there are huge opportunities for advancements in retail automation systems owing to the increasing usage of smartphones and enhanced internet accessibility. This, in turn, is expected to fuel the growth of the retail automation market. The increasing adoption of the technology by a number of end users such as hypermarkets, supermarkets, convenience stores, fuel stations, and retail pharmacies is anticipated to boost the market over the forecast period.
The growing awareness and popularity of retail automation are encouraging manufacturers to invest in research & development for creating better, more reliable, and cost-effective products. Manufacturers are making significant investments to develop new products in an effort to enhance user experience.
Further Key Findings:
The growing demand for retail automation can be accredited to the increasing demand among retailers for business optimization and improvement in service quality.
The growing penetration of Internet of Things (IoT) and enhanced internet accessibility, which help direct digital controls for improved Machine-to-Machine (M2M) communication, have encouraged retailers to adopt the retail automation technology.
Innovative technologies such as artificial intelligence (AI), machine learning, digital traceability, and robotics are also some of the key factors expected to drive the demand for retail automation over the projected period.
The North American region accounted for the largest market share in 2016, which may be attributed to its large consumer base.
Some of the key industry participants include Diebold Nixdorf, Incorporated (U.S.), Fujitsu Limited (Japan), Honeywell International Inc. (U.S.), NCR Corporation (Georgia), and ZIH Corp. (U.S.).
Key Topics Covered:
Chapter 1 Methodology and Scope 1.1 Research Methodology 1.2 Research Scope & Assumptions 1.3 List of Data Sources
Chapter 5 Retail Automation Market: End User Estimates & Trend Analysis 5.1 Retail Automation Market: End User Movement Analysis
Chapter 6 Retail Automation Market: Regional Estimates & Trend Analysis 6.1 Retail Automation Market: Regional Movement Analysis 6.2 North America 6.3 Europe 6.4 Asia Pacific 6.5 South America 6.6 Middle East & Africa (MEA)
Chapter 7 Competitive Landscape 7.1 Company Profiles