Market Research Future published a research report on “Retail Automation Market Research Report -Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
The global retail automation market has been proliferating alongside the retail industry, due to factors such as the increasing demand for cost-efficient fast service, investment in automated retail by chief retail market players, rising adoption of retail automation components in an attempt to optimize operations. According to Market Research Future (MRFR), the global Retail Automation Market is estimated to grow up to USD 18 billion at 11 CAGR% in the forecast period of 2017 to 2023.
The growing implementation of digital capabilities is predicted to increase the use of automation, thereby driving the market. The industries in the retail sector are investing in technologies to understand consumer behavior to shape their strategies to withstand in the market. Customers are demanding quality of product and service due to which the incorporation of automation in the retail industry is becoming an essential part. Furthermore, market players are encouraging customers to go cashless, which is fueling the growth of the retail sector thereby ascending the retail automation market.
Many global brands and retailers are looking forward to building up brand awareness and expansion of their business. The retail automation demand is proliferating as the technological advancements in the retail sector are persuading retail touch points and retail tech. It offers improved service to the customer at a little cost. These services have changed the buying experience. Various factors drive the market growth such as demand of customers to improve the service quality, appreciation for automation in retail and others.
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Market Research Analysis:
Region-specific analysis of the global retail automation market is founded on mainly four regions namely, Asia Pacific (APAC), North America, Europe and Rest of the World (RoW). This region-specific peek into the market allows a better reading of growth pockets.
North America has the lead in the global market and its reliance on the high-level technologies and better investment scopes are giving it the edge over the others. The market is witnessing an easy permeation of RFID systems to better the product tracking capacities and the process is less expensive. Such advantages have been adopted by top players quickly. The market is also witnessing blessings of the results provided by the research and development sector.
In Europe, similar reasons are expected to drive the regional retail automation market. The market has several players who are actually getting involved in such a prolific growth of the global market.
In the APAC region, this growth depends mostly on the technological integration in retail sectors of China, Japan and India. Emerging economies like China and India are quite big and can initiate expansion plans of global players by offering greater profit margins. The sector is expecting the fastest CAGR during the forecast period.
The prominent players in the global retail automation market are – Fujitsu Limited (Japan), Toshiba Global Commerce Solutions Inc. (US), Honeywell Scanning and Mobility (US), Posiflex Technology, Inc. (Taiwan), E&K Automation GmbH (Germany), First Data Corporation (US), Kuka AG (Germany), Wincor Nixdorf AG (Germany), Zebra Technologies Corporation (US), NCR Corporation (US), and Kiosk & Display LLC (US) among others.
Global Retail automation Market Segmentation
MRFR’s take on the global retail automation market has substantial focus on a detailed segmentation that includes type, component, components, and end-users. These segments offer a better idea of the growth chart as it includes volume-wise and value-wise market flow.
- Based on the type, the retail automation market expected to include automatic storage & retrieval, autonomous guided vehicle, electronic shelf labels, point of sale, barcode & RFID, automated conveyor and others. The barcode & RFID segment is getting substantial traction in the market as it eases the process of tracking products and gathering of real-time data.
- Based on components, the retail automation market can be segmented into hardware, software, services, and others. The software segment is witnessing substantial rise due to keen interests shown by various software developers.
- Based on end-users, the retail automation market can be segmented into retail pharmacies, hypermarkets, single item stores, supermarkets, fuel stations, and others. Supermarkets and hypermarkets are segments that are providing much thrust to the global market.
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Table Of Contents
List Of Figures
Figure 1 Research Methodology
Figure 2 Market: By Type (%)
Figure 3 Market: By Components (%)
Figure 4 Market: By End-Users (%)
Figure 5 Market: By Region (%)
Figure 6 North America Market, By Type (%)
Figure 7 North America Market, By Components (%)
Figure 8 North America Market, By End-Users (%)
Figure 9 North America Market, By Region (%)
Figure 10 Europe Market, By Type (%)
Figure 11 Europe Market, By Components (%)
Figure 12 Europe Market, By End-Users (%)
Figure 13 Europe Market, By Region (%)
Figure 14 Asia-Pacific Market, By Type (%)
Figure 15 Asia-Pacific Market, By Components (%)
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