According to the latest report by IMARC Group, titled “Retail Automation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global retail automation market size reached US$ 15.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 26.3 Billion by 2027, exhibiting a CAGR of 9.59% during 2022-2027.
Retail automation represents a process that simplifies, automates, and streamlines manual and repetitive processes. It generally includes self-checkout systems, service kiosks, mobile apps, touch point of sale (POS) terminals, etc. Retail automation is easy to access and saves time while minimizing the cost of operations. In addition to this, it aids in improving the in-store experience, reducing human errors, enhancing efficiency, keeping data updated in real-time, etc. Presently, the key market players are integrating data intelligence to provide deep insights from business metrics for increasing overall sales.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The widespread adoption of digital payments is propelling the demand for wireless POS terminals in several sectors, such as healthcare, transportation, sports and entertainment, etc. This, in turn, is primarily driving the retail automation market. Additionally, the growing utilization of passenger vehicles and the rising focus on automating petroleum outlets are further catalyzing the market growth. Besides this, retail automation assists in addressing the challenges of sustained revenues, safety concerns, labor shortages, supply chain management, etc., which is acting as another significant growth-inducing factor. Moreover, the inflating need for a better consumer experience is also positively influencing the global market. Apart from this, the introduction of radio frequency identification (RFID) technology that provides wireless fuel management and payment systems at petrol stations is anticipated to fuel the retail automation market over the forecasted period.
Breakup by Type:
- Point-of-Sale (POS)
- Barcode and RFID
- Electronic Shelf Label (ESL)
- Camera
- Autonomous Guided Vehicle (AGV)
- Others
Breakup by Implementation:
- In-store
- Warehouse
Breakup by End User:
- Supermarkets and Hypermarkets
- Single Item Stores
- Fuel Stations
- Retail Pharmacies
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- AGS Transact Technologies LtdAGSTRA
- Diebold Nixdorf IncorporatedDBD
- Fiserv IncFISV
- Fujitsu Limited6702
- Honeywell International IncHON
- NCR CorporationNCR
- Olea Kiosks Inc
- Posiflex Technology Inc(TPE: 8114)
- Probiz Technologies Prvt
- Sea Point China Limited
- Simbe Robotics Inc
- Zebra Technologies CorporationZBRA
Explore Report Description with TOC & List of Figure: https://www.imarcgroup.com/retail-automation-market
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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To view the original version on ABNewswire visit: Global Retail Automation Market Size Projected to Reach US$ 26+ Billion by 2027
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