Retail Automation Market 2020 Latest Trend, Advancement and Future Opportunity 2025

The Global Retail Automation Market Perspective, Comprehensive Analysis along with Major Segments and Forecast, 2020-2025.

The Retail Automation market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, the impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.

The retail automation market was valued at USD 12.45 billion in 2019 and is expected to reach USD 24.6 billion by 2025 at a CAGR of 11.20% over the forecast period (2020-2025).

Top Companies:   IBM, Oracle, SAP SE, Xerox, SAS Institute, Tibco Software, OpenText, Lexmark International, HP, PegaSystems, Software AG, Nintex Group

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Overview:

- Certain factors such as high costs involved in managing e-commerce supply chains, increase in raw-material costs, intense competition, and the rising labor costs, are increasing the need for an automated retail industry.
- Additionally, with the enhancement in customer experiences due to technology, customer expectations are increasing. The retailers are expected to provide a better experience at a low cost.
- Also, 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 lesser time.
- Further, the increasing trend of self-checkout frameworks, the proliferation of smart devices, increasing usage of network data and rising demand for fast service and better quality is further stimulating the market growth.                                                             

Key Market Trends

Point of Sale Systems to Gain Maximum Popularity

- A Point of Sale (POS) system is expected to have the highest adoption rate due to the number of benefits offered by it in the retail industry. An efficient POS system ensures the smooth running of all the retail operations. The POS serves as the central component for any retail business, where every component of a retail business like sales, inventory, and customer management merges.
- A POS system streamlines operations, gives real-time information to the customers, provides analytics and customer insights by analyzing customer's buying behavior. These benefits are stimulating the adoption of POS systems in the retail industry.
- Also, with the advancements in technology, a POS system can be deployed both on-premise and on-cloud. With the right POS system, retailers can simplify crucial daily business operations with greater proficiency.
- Further, with the increasing popularity of POS systems, the retailers are increasingly using different payment methods. For instance, according to Worldpay, in 2018, card payment (debit card and credit card) accounted for the largest share of point-of-sale payment methods in the Asia Pacific region with 42%. The share of cash payment was still higher than eWallet with 30%. Nevertheless, eWallet was catching up, reaching a share of 27%.

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Asia-Pacific Expected to Register the Highest Growth

- The Asia-Pacific region is expected to exhibit the highest growth rate in the global retail automation market in the forecast period. The major factors influencing the growth rate is the drastic increase in the population in the region, due to which the consumer's demands are also rising.
- Additionally, altering lifestyle amongst customers is further anticipated to fuel the demand for diverse products, thereby propelling market growth.
- Also, the Asia-Pacific region is the fastest-growing market for smart devices. With the proliferation of smart devices, the customers are provided with a wide variety of choices to choose from.
- Also, with the growing e-commerce and fast delivery options, customer's expectations for personalized experiences is increasing. Hence, these trends are further expected to stimulate market growth in the region.
- Furthermore, the existing retail giants in the region are partnering with major technology providers to automate their retail chains to capture major market share.

Competitive Landscape

- April 2019 - Walmart, a retail giant, plans to roll out more automated assistants to handle a range of repetitive tasks at stores. The company claims that the robots and automated units are currently operating in just a few locations. These robots perform functions such as checking inventory, store maintenance, sorting products and fulfilling online orders, enabling store associates to spend more time serving customers on the sales floor.
- January 2019 - Innovative Technology (ITL), an innovation-led global technology company, has introduced a new product which uses intelligent biometric algorithms to verify the age of customers. The ICU device is designed to automate policy for controlling access to restricted purchases such as alcohol and premises such as casinos, according to the announcement.

Regional Analysis: For a comprehensive understanding of market dynamics, the global Retail Automation Market is analyzed across key geographies namely: United States, China, Europe, Japan, Middle East & Africa, India, and others. Each of these regions is analyzed on the basis of market findings across major countries in these regions for a macro-level understanding of the market.                                    

Significant Features that are under Offering and Key Highlights of the Reports:

-Detailed overview of Retail Automation Market
-Changing Retail Automation market dynamics of the industry
-In-depth market segmentation by Type, Application, etc.
-Historical, current and projected Retail Automation market size in terms of volume and value
Recent industry trends and developments
-Competitive landscape of Retail Automation Market
-Strategies of key players and product offerings
-Potential and niche segments/regions exhibiting promising growth.

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information, and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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