Global retail automation market is estimated to record a substantial CAGR of 12.5% during the forecast period (2020-2026). The global retail industry is on an all-time high as global economies have continued to perform exceptionally well, stimulating retail sales and profitability. This has resulted in increased adoption of retail automation solutions, as the sales increase. More and more convenience store chains are seeking to implement different types of retail automation systems that could increase their efficiency, as well as profit margins. Besides, the boom of urbanization has played a significant role in the acceleration of retailing, which has indirectly benefited the retail automation market. As projected by the UN (United Nations), around 68% of the global population is expected to live in urban areas against 55% in 2018. Increasing urbanization is one of the key factors that foretell the potential of the global retail automation market.
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Moreover, other key factors influencing the growth of the market are the rapid rise of the e-commerce industry, and customers’ changing preferences and need for customizations. Entering the market requires high initial investments, which may be a deterrent for those who are keen. Also, the lack of specialized technology for customized needs will hinder the market growth. Changes in customers’ shopping behavior with the advent of e-commerce websites have led to the growth of software-based retail automation solutions. An increasing number of new players has resulted in fierce competition, compelling companies to use retail automation to provide quick and efficient services. Thus, the supermarket space is expected to be the market leader, both in terms of market share and growth.
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Market Coverage
- The market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- by Components, and End-user
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- Datalogic S.p.A., Diebold Nixdorf, Incorporated; Fiserv, Inc.; Toshiba Global Commerce Solutions, and Toyota Industrial Equipment
Global Retail Automation Market Report Segment
By Product
- Hardware
o RFID and Barcode Scanner
o POS Systems
o Vending Machines
o Self-Scan Checkout systems
o Other Hardware Types
- Software
o Workforce Management Software
o Supply Chain and Inventory Management Software
o Retails Apps and Online Store Applications
By End-User
- Supermarkets/Hypermarkets
- Convenience Stores
- Fuel Stations
- Other
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
