Retail Automation Market 2020 Global Key Leaders: First Data Corporation, Wincor Nixdorf AG, Zebra Technologies, NCR Corporation, Fujitsu Limited, Posiflex Technology
The global retail automation market has been proliferating alongside the retail industry, due to factors such as the increasing demand for cost-efficient fast service, investment in automated retail by chief retail market players, rising adoption of retail automation components in an attempt to optimize operations. According to Market Research Future (MRFR), the global Retail Automation Market is estimated to grow up to USD 18 billion at 11 CAGR% in the forecast period of 2017 to 2023.
The growing implementation of digital capabilities is predicted to increase the use of automation, thereby driving the market. The industries in the retail sector are investing in technologies to understand consumer behavior to shape their strategies to withstand in the market. Customers are demanding quality of product and service due to which the incorporation of automation in the retail industry is becoming an essential part. Furthermore, market players are encouraging customers to go cashless, which is fueling the growth of the retail sector thereby ascending the retail automation market.
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Many global brands and retailers are looking forward to building up brand awareness and expansion of their business. The retail automation demand is proliferating as the technological advancements in the retail sector are persuading retail touch points and retail tech. It offers improved service to the customer at a little cost. These services have changed the buying experience. Various factors drive the market growth such as demand of customers to improve the service quality, appreciation for automation in retail and others.
The prominent players in the global retail automation market are – Fujitsu Limited (Japan), Toshiba Global Commerce Solutions Inc. (US), Honeywell Scanning and Mobility (US), Posiflex Technology, Inc. (Taiwan), E&K Automation GmbH (Germany), First Data Corporation (US), Kuka AG (Germany), Wincor Nixdorf AG (Germany), Zebra Technologies Corporation (US), NCR Corporation (US), and Kiosk & Display LLC (US) among others.
The global retail automation market is segmented into type, components, end-users, and region. The type includes autonomous guided vehicle, the point of sale, automatic storage and retrieval, barcode & RFID, electronic shelf labels, automated conveyor and others. The components include hardware, software, services, and others. The end-users include hypermarkets, retail pharmacies, supermarkets, single item stores, fuel stations, and others. The region consists of North America, Europe, Asia Pacific and rest of the world.
The number of supermarkets globally is rising due to the enormous upsurge in the consumers and the increasing demand for high-quality products. Also, the market players are getting compelled to invest in supermarkets because consumers prefer the provision of various goods in one place, subsequently driving the growth of retail automation.
The global retail automation market is segmented into North America, Europe, Asia Pacific, and the rest of the world (RoW). North America is one of the highest market shares in retail automation market and has been rising exponentially in the last five years, primarily driven by the advancement in RFID technology. Moreover, retail automation provides a path for the national brand and retailers to make the sales channels. These sales channel will innovatively reach to each customer.
The retail automation market in the Europe region is projected to observe rapid growth in the forecast period due to the rising purchasing power of the consumers, which can be seen in Asia Pacific region as well, along with a rise in the disposable income with growing investment in the retail sector. These factors are expected to drive the retail industry in this region. The Asia Pacific is expected to be the fasting growing regions in the retail automation market over the forecast period.
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