The global retail automation market was worth USD 10.43 billion in 2017 and is projected to reach USD 18.99 billion by 2023 at a CAGR of 10.02% over the period 2018–2023. The scope of the report is limited to products including point of sales (PoS), camera, barcode and RFID, and others and end user including supermarkets, single item stores, and others. The regions considered in the scope of the report include North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The study also emphasizes the benefits of retail automation by diverse application and the prospect of the same.
Automation in the retail industry is replacing the traditional methods of the cash register and ledger models, making it much more convenient for the customers to complete their transaction in a short period. The trend is picking up significantly, as retailers are utilizing a blend of self-checkout frameworks, cell phones, advanced booths, and workforce & errand administration answers to sustain in the market. The retail industry is facing extensive & remarkable changes and with growing customer expectations, and increasing competition rivalry, retailers are required to provide a better experience at a low cost. Hence, to adapt to change, make better decisions, and to find new markets to exploit, retail automation is the best solution for retailers to improve service, products, and operations constantly. This is expected to fuel the retail automation market.
Growth in Retail Industry
Retail automation market grows in tandem with the retail industry, partly because market growth is expected to lead to an increase in demand for automation tools. The expanding incorporation of digital capabilities is projected to boost the use of automation, thereby propelling the market. The companies in retail industries are investing in technologies to understand the consumer behavior to shape their strategies, in order to sustain in the market. Consumers are demanding quality of product and service owing to, which the integration of automation in the retail industry is becoming a key part. Moreover, they are encouraging customers to go cashless, which is fueling the growth of retail industry thereby ascending the retail automation market.
Supermarket to Exhibit the Highest Market Share
The number of supermarkets across the globe is increasing owing to the enormous rise in the consumers and growing demand for high-quality products. Also, consumers search every good in one place to purchase without comprising on quality and service, which is compelling the players to invest in supermarkets. This is likely to propel the growth of retail automation, owing to the robust analytics offered by the system, which helps in taking strategic decisions.
Asia-Pacific to Witness the Highest Growth
Rising disposable income at a high pace coupled with increasing investment in the Asia-Pacific is expected to ascend the retail industry. Additionally, altering lifestyle amongst customers is further anticipated to fuel the demand for diverse products, thereby propelling market growth. Moreover, the retail e-commerce industry in the region is witnessing bursting growth owing to convenience and increasing population.
Major Players: Datalogic S.P.A, Diebold Nixdorf, Incorporated, Fujitsu Limited, First Data Corporation, Honeywell International, Inc., Outerwall Inc., NCR Corporation, Toshiba Global Commerce Solutions, Inc., Pricer, ZIH Corp., Casio Computer Co., Ltd, Qr Retail Automation (Asia) Sdn Bhd, ECR Software Corp, Carrenza, and Xerox Corporation, among others.
Key Developments in the Market
- January 2018: Toshiba displayed their technological innovation for the retail industry to deliver enhanced customer experience, which is expected to propel the sales of the company.
- January 2018: Datalogic announced their new technology for retail industry at National Retail Federation, which is intended to lure new customers and increase their sales.
- December 2017: Datalogic announced a strategic alliance with a manufacturer of thermal label printer for portable applications and desktop, TSC Auto ID Technology Co. Ltd. This is expected to bring new and promising innovation to the industry creating a strong foothold in the market.
Reasons to Purchase the Report
- To understand the prospective global retail automation market and opportunities.
- Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis.
- Complete regional analysis of the market.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3-month analyst support along with the Market Estimate sheet (in Excel)
Customization of the Report
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1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
1.4 Key Findings of the Study
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
4.2 Industry Value Chain
4.3.1 Growth in Retail Industry
4.3.2 Rising Demand for Quality and Fast Service
4.3.3 Increasing Demand for Automation Products in Retail
4.4.1 Lack of Skilled Personnel
4.5 Industry Attractiveness – Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products or Services
4.5.5 Competitive Rivalry among Existing Competitors
5. Market Segmentation
5.1 By Product
5.1.1 Point of Sale (PoS)
5.1.3 Barcode and RFID
5.1.4 Others (Conveyor, Storage and Retrieval System)
5.2 By End-User
5.2.2 Single Item Store
5.2.3 Others (Fuel Station, Pharmacies)
5.3 By Geography
5.3.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 Rest of Asia-Pacific
5.3.4 Latin America
5.3.5 Middle East & Africa
6. Competitive Intelligence – Company Profiles
7. Company Market Share
7.2 CASIO COMPUTER CO., LTD.
7.3 Datalogic S.P.A
7.4 Diebold Nixdorf, Incorporated
7.5 ECR Software Corp
7.7 First Data Corporation
7.8 Fujitsu Limited
7.9 Future Way Technical Services LLC
7.10 Honeywell International Inc.
7.11 NCR Corporation
7.12 Outerwall Inc.
7.14 Pyramid Controls
7.15 QR Retail Automation (Asia) Sdn Bhd
7.16 RapidMathematix Inc.
7.17 Toshiba Global Commerce Solutions, Inc.
7.18 Xerox Corporation
7.19 ZIH Corp.
*List not Exhaustive
8. Future of the Market