The global Retail Automation Market size is expected to reach USD 19.17 billion by 2025, at a CAGR of 8.7% 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 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 industry. 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.
Request a sample copy or view summary of this report@ 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 the 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.).
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.
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment