Jersey City, New Jersey, Dec. 13, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Retail Automation Market” By Product (Point-Of-Sale (POS), Camera, Barcode and RFID), By Implementation (In-Store Premise and In-Warehouse), By End-User (Hypermarkets, Supermarkets, Single-Item Stores, Petrol Pumps/Fuel Stations), and By Geography. According to Verified Market Research, the Global Retail Automation Market size was valued at USD 13.97 Billion in 2020 and is projected to reach USD 31.81 Billion by 2028, growing at a CAGR of 10.94% from 2021 to 2028.
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Browse in-depth TOC on “Retail Automation Market”
202 - Pages
126 – Tables
37 – Figures
Global Retail Automation Market Overview
The rising demand for quality and fast service to consumers has been considered a major driver for the Retail Automation Market. Features such as reduced cost to retailers, high speed of transactions, and accuracy in transactions have positively impacted the market. Retail automation provides for business optimization which increases the demand for the market. Innovative Technology has helped achieve the goals for retail automation. In recent years, developing economies have been a major growth opportunity for the Retail Automation Market since retailers in these countries are adopting new strategies to provide fast and reliable service to the growing population.
In these economies, the spending patterns of the general population are improving and they are trying to adopt the developed country’s habits and behavioural trends in the retail sector. So, these economies are expected to propel the growth of the global Retail Automation Market. Although there are a number of positives to this market, there are also restaurants like lack of knowledge and resources for terminal mobility. This can hinder the growth of the market. In some cases, where resources are available, they might not be up to the optimum speed like internet services can be affected in some areas due to the weather conditions in rural areas.
There can also be cases of theft at unattended terminals that can pose a risk for retailers that do not have enough resources or labour to keep a watch at all times. Due to these increased number of thefts, retailers may be demotivated to use retail automation which can cause a challenge to the market. Retail automation provides flexible and easy to operate solutions for both customers and retailers with innovative and improved technologies. The demand for automated solutions is accelerated by their advantages such as efficiency in product supplies, manageable business platforms, and faster sales processes. This helps to increase the profits of retailers through cost advantage also ensuring a productive environment for the growth of the market worldwide.
Key Developments
- In May 2020, The Datalogic has agreed to invest in Adroit Worldwide Media Inc. (AWM) Smart Shelf. It offers a comprehensive set of solutions for the retail sector, both non-grocery and grocery which includes Inventory Intelligence, consumer demographics, autonomous checkout, and retail analytics engine.
- In January 2021, A leading grocery e-commerce company Freshop Inc has been acquired by NCR Corporation. This acquisition will add e-commerce to NCR Corporation’s leading retail core POS platform that will enable retailers to quickly serve the needs of the consumer.
- In December 2020, A new series of PoS systems named HS-3314A which is a 14″ Android 9.0 Projected Capacitive Touch (PCAP) POS system has been launched by Posiflex Technology Inc. It has a built-in printer with numerous peripherals and a high-performance Rockchip RK3399.
Key Players
The major players in the market are Datalogic S.P.A, First Data Corporation, Fujitsu Limited, Honeywell Scanning & Mobility, NCR Corp., Toshiba Global Commerce Solutions Inc., Wincor Nixdorf AG, Posiflex Technology Inc., Pricer, Zebra Technologies Corp.
Verified Market Research has segmented the Global Retail Automation Market On the basis of Product, Implementation, End-User, and Geography.
- Retail Automation Market, By Product
- Point-of-Sale (POS)
- Camera
- Barcode and RFID
- Others
- Retail Automation Market, By Implementation
- In-Store Premise
- In-Warehouse
- Retail Automation Market, By End-User
- Hypermarkets
- Supermarkets
- Single-Item Stores
- Petrol Pumps/Fuel Stations
- Health and Retail Pharmacy
- Retail Automation Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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