The global retail automation market is
expected to reach USD 19.17 billion by 2025, according to a new report by Grand
View Research, Inc. 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 retail automation
market has been segmented based on products into barcode and Radio-frequency
identification (RFID), point of sale (POS), cameras, electronic shelf labels,
autonomous guided vehicles, and others. RFID technology is enabling retailers
to compete with online sellers as it helps facilitate regular inventory checks,
which in turn leads to inventory accuracy. Self-checkout terminals have grown
substantially due to the benefits that they offer for retailers in improving
the customer experience. Automation is gaining significance as retailers are
using a combination of mobile devices, self-checkout, digital kiosks, proximity
beacons, and workforce and task management solutions to remain competitive in
the market.
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.
Browse full report by Grand View
Research : http://www.grandviewresearch.com/industry-analysis/retail-automation-market
Further key findings from the report suggest:
·
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.).
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/semiconductors
Grand View Research has
segmented the retail automation market based on products, end users, and
regions:
Product Outlook (Revenue, USD Million; 2014 - 2025)
·
Barcode and RFID
·
POS
·
Cameras
·
Electronic Shelf Labels
·
Autonomous Guided Vehicles
·
Others
End-User Outlook (Revenue, USD Million; 2014 - 2025)
·
Hypermarkets
·
Supermarkets
·
Convenience Stores
·
Fuel Stations
·
Retail Pharmacies
Regional Outlook (Revenue, USD Million; 2014 - 2025)
·
North America
o U.S.
o Canada
o Mexico
·
Europe
o Germany
o UK
o France
·
Asia Pacific
o China
o Japan
o India
·
South America
o Brazil
·
Middle East & Africa (MEA)
View press release of this research report by Grand View
Research: http://www.grandviewresearch.com/press-release/global-retail-automation-market
About Grand View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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