Retail automation solutions offer several advantages including accuracy, low cost, speed, and high performance primarily in the retail sector. This is a key factor fuelling the growth of the retail automation market.
Implementation of automated solutions in the retail industry is the major factor propelling the growth of the retail automation market. The retail automation systems are increasingly used in numerous end users including supermarkets, hypermarket, single item stores, and fuel station.
The retail automation market report discusses the growth factors, opportunities, trends, and challenges. These market dynamics show the current scenario coupled with future growth and opportunities present in the global retail automation market.
One of the key parts of the report is vendor landscape, which also involves the details of key players such as segmental share, company history, annual turnover, new product launches, SWOT analysis, mergers and acquisitions (M&A) activities, and recent research and development (R&D).
Retail automation offers flexibility and ease for customer’s solutions for both retailers with innovative technologies. Growing demand for automated products is accelerated by their benefits including manageable business platforms, faster sales processes, and efficiency in product supplies.
This factor is helping to boost revenues of retailers by lowering cost and ensure improving productive environment for the growth of the retail automation market.
Automated retail products and vending machines bids advantage retail stores to offer high-quality services. The growing purchasing power of consumers and economic growth in the developed regions are some of the factors that are propelling the adoption of retail automation solutions.
Additionally, growing adoption of the retail automation due to the intense competition across the retail sectors. There is a high demand for automated products which enhances efficiency, which poses as a key driver for the growth of the market.
Usage of retail automation for benefit of cost optimization and especially lowering cost of retailers, increasing demand for retail automation products, and rising demand for quality and fast service are some of the other factors driving the growth of the market.
Additionally, retail automation works together with smart devices and equipment for catering high-quality services to their customers, which enhances business operations.
Furthermore, technological advancements such as revolutionizing the retail industry, and growing adoption of innovative and efficient technologies is growing rapidly.
On the basis of region, the retail automation market could be segmented into North America, South America, Europe, Asia Pacific, and the Middle East and Africa. Of these regions, Asia Pacific is expected to expand with impressive CAGR over the forecast period. China, Japan, and India are some of the major countries driving the growth of the retail automation market in APAC. In addition to this, the expansion of large-scale retailers is responsible for the high growth rate in this region.
Some of the key players operating in the retail automation market are ZIH Corp., Pricer, Outerwall Inc., Toshiba Global Commerce Solutions, Inc., NCR Corporation, Fujitsu Limited, Honeywell International Inc., and First Data Corporation.