The Global Retail Automation Market has recorded $17,246.4 million in 2017 and it is estimated to surpass $25,351.9 million with an estimated rate of 6.6% during 2018 to 2023. Food/Non-Food services are witnessed as fast growing in the market with $6517.3 million revenue in 2017 and estimated to reach $9670.8 million during the forecast period. Market with respect to Hospitality is valued at $2355 million in 2017. In North America, Vending Machine Market holds $731.3 million in 2017 and growing with a CAGR of 4.1% to reach $932.6 million during forecast period.
What is Retail Automation Market?
Retail automation combines the usage of smart devices and machinery to undergo customized operational processes in order to reduce the cost and to improve the productivity. Technical advancement made leading retailers to integrate the state-of-the-art automation technologies in their maintenance and operations. From the selection to payment procedure, developments are made with innovative machinery. It helps retailers to mitigate the cost during the channel operations including store task management, POS checkouts, field sales, loss prevention and scale e-commerce. In-addition, digital kiosks is given more preference for better customer’s experience and making people to adopt the retail automation.
This report incorporates an in-depth assessment of Retail Automation Market by Equipment, Component, Type, End-User and Geography.
What are the major applications of Retail Automation Market?
The various applications assessed includes Supermarket, Hypermarket, Convenience store, Departmental Store, Merchandising & Specialty store, Restaurant, Fast Food Outlet, Medical Center, Fuel Station, Retail Pharmacies, Single Item Stores, Transportation & Logistics and Oil & Gas. Food and Non-Foods are purchased a lot in the supermarkets, hypermarkets and all convenience stores. These solutions can change the repetitive, manual tasks with automated workflows to boost the business processes, which mainly helps to cut the administrative paper based costs. These efficiency creates an opportunity to increase customer satisfaction across the customer lifecycle.
Market Research and Market Trends of Retail Automation Market
- Retail Vendor Management provides retail companies with the tools to start from initial sourcing to execution and they can also facilitate transparency between the departments. Automated data analysis, work flow combines with core systems to reduce the number of cycles and to support the retailer’s efforts in increasing investments. Impact of retail vendor management in the future will be reducing risks, costs and creates loyal relationships to build the loyalty among suppliers. This shows the significant effect on protecting the brand and in increasing the onboard speed.
- Analysis of the gender composition of retail workers shows the largest group of retail sales people, who has equal number of men and women. Moreover, cashiers are the next largest group of retail workers, who are largely women. They are considered as one of the most easily automated jobs which can affect the economy. This analysis indicates that the large-scale automation of retail labor could extremely effect women in an Automated World. Automation shapes the future of retail for Consumer Industries where technology is likely to show a significant impact on existing labor.
- The retail sector is disparate and depicts the important portion of the US employment and economy. Retail sector occupies approximately 10% of US workers and ranks third behind education, health services and business services. This sector also includes the quickly evolving internet retail companies which are directly challenging the traditional retail standard.
Who are the Major Players in Retail Automation market?
The companies referred to the market research report includes Datalogic S.P.A., First Data Corporation, NCR Corporation, Fujitsu Limited, Toshiba Global Commerce Solutions Inc, Honeywell Scanning and Mobility, Kuka AG, Wincor Nixdorf AG, Zebra Technologies Corporation, Pricer AB and more than 20 companies.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.