Retail Automation Market size is expected to reach nearly US $ 32.86 Bn by 2029 with the CAGR of 10.94% during the forecast period.
Retail Automation Market Report Scope and Research Methodology
Maximize Market Research Pvt. Ltd., a leading market research firm based in Pune, India, has released its latest comprehensive market research report on the Retail Automation Market.
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The report provides a detailed analysis of the impact of the COVID-19 lockdown on market leaders, followers, and disruptors. Given the varying lockdown measures implemented across regions and countries, the impact also varies accordingly. This report assesses both the short-term and long-term effects of the pandemic on the market, offering valuable insights for decision-makers in formulating strategies tailored to specific regions.
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What are Retail Automation Market Dynamics?
Retail automation is witnessing robust growth due to increasing demand for business optimization and enhanced service quality. Retail automation offers an integrated solution for managing various retail activities, including product handling, time and attendance management, workforce management, task management, store audit, and more. The adoption of automation in the retail industry has led to improved workforce productivity and store efficiency. Factors such as changes in customer behavior and the expansion of the Internet of Things (IoT) have also contributed to the market’s growth.
The incorporation of digital capabilities is set to further drive automation adoption, as companies seek to understand consumer behavior and adapt their strategies accordingly. Consumers are increasingly seeking quality products and services, spurring the integration of automation within the retail sector. Furthermore, the promotion of cashless transactions by retailers is bolstering the growth of the retail industry, thus boosting the retail automation market.
The report identifies significant opportunities for advancements in retail automation systems, driven by the widespread use of smartphones and improved internet accessibility. These factors are expected to fuel the retail automation market’s growth with a higher CAGR during the forecast period. The supermarket segment is anticipated to dominate the market, driven by the rising number of supermarkets globally and consumers’ preference for one-stop shopping without compromising on quality and service. Retail automation systems provide robust analytics that assist in making strategic decisions, further promoting their adoption.
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What is Retail Automation Market Regional Insight?
Regionally, North America is poised to hold the largest share of the retail automation market during the forecast period, with a high growth rate expected between 2023 and 2029. The region’s expanding retail industry, particularly in the United States, where retail sales increased by an average of 4.5% in 2022, solidifies its leadership position in the global retail industry. Additionally, the affordability of RFID systems and tags is encouraging organizations to invest in retail automation. The Asia-Pacific region, including emerging markets like China, Japan, and India, is expected to witness the highest CAGR due to substantial infrastructural development projects in the region.
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What is Retail Automation Market Segmentation?
by Component
Hardware
Software
by Product
Point of sale
Barcode and RFID
ESL
Camera
AGV
ASRS
Automated conveyor
by Type
Vending machines
Service kiosks
Retail kiosk
Self-checkout
Retail apps
Retail operations
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Who are Retail Automation Market Key Players?
1. ZIH Corp.
2. Toshiba Global Commerce Solutions, Inc.
3. Pricer
4. Outerwall Inc.
5. NCR Corporation
6. Honeywell International Inc.
7. Fujitsu Limited,
8. First Data Corporation
9. Diebold Nixdorf, Incorporated.
10. Datalogic S.P.A
11. Casio Computer Co., Ltd
12. Qr Retail Automation (Asia) SdnBhd
13. ECR Software Corp
14. Carrenza
15. Xerox Corporation
16. Zebra Technologies Corp.
17. Posiflex Technology, Inc.
18. Probiz Technologies Pvt Ltd.
19. E&K Automation GmbH
20. KUKA AG
21. Olea Kiosks Inc.
Table of content for the Retail Automation Market includes:
Key Offerings:
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