What’s New in Retail Automation Equipment Market for 2021| Global Insights on COVID-19 impact, Industry Trends, Revenue, Opportunities, Forecast Analysis by Product Type, Applications and Regions

Global “Retail Automation Equipment Market” Research Report is an overview of the global market with a prime focus on factors affecting the market growth. It also provides an all-encompassing analysis of the key competitors with their strategies and the business landscape. The report is a comprehensive analysis containing key information on market share, major segments, and regional analysis. Report studies key growth factors, recent developments, latest trends, market size estimates, and projections for the future.

Retail automation is the adoption of technologies such as artificial intelligence (AI) and machine learning (ML) that enable retail businesses to transform and automate their day-to-day operations with the improved customer experience and efficient performance. Additionally, it helps automate the manual, repetitive, and tasks that are highly vulnerable to error occurrences. Furthermore, retail automation offers numerous benefits that include minimized labor cost, which in turn offer higher accuracy, increased efficiency, enhanced customer experience, boost sales, and taking a retail business to the next level.

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The Retail Automation Equipment market is driven by investments by big retail giants in retail automation. Additionally, the increase in individual spending capacities due to the rise in per capita disposable incomes has been attributed to market growth. However, market growth is likely to be hampered by the high investments associated with adopting a retail automation system that comprises hardware, software, and services. Apart from these, the rapid developments in technologies such as AI, ML, IoT, blockchain, computer vision, and robotics have enhanced market growth.

⦿ Key Players

The Key Players in the Global Retail Automation Market are identified based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. These include Datalogic S.p.A (Italy), First Data Corporation (US), NCR Corporation (US), Fujitsu Limited (Japan), Toshiba Global Commerce Solutions(US), Honeywell Scanning and Mobility (US), Kuka AG (Germany), Wincor Nixdorf AG (Germany), Pricer AB (Sweden), Zebra Technologies Corporation (US), Posiflex Technology(Taiwan), E&K Automation GmbH (Germany), Kiosk & Display LLC (US)

⦿ Competitive Analysis

Global Retail Automation Equipment Market is witnessing high growth, mainly due to a demand for the transformation of customer experience for retailing businesses. The repetitive tasks usually performed by humans are highly prone to errors, costing retail organizations severe losses and customers shifting on to other options available. To overcome this, retailers have been showing interest in adopting automated retail systems that are error-free, operate 24 by 7, up to date, smart operations, actionable insights, and many other add-on benefits. Major players in the industry have opted for partnerships, acquisitions, product enhancement, and technical support services as their key organic growth strategies to enhance their positions in the market and cater to the demands of end-users. Also, the industry players are competing over the benefits offered by retail automation.

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⦿ Regional Analysis

Global Retail Automation Equipment Market is estimated to register an exponential CAGR over the forecast period. The geographic analysis of the global Retail Automation market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

North America is expected to register the largest market share due to the increase in demand for retail automation systems in the region. The US is expected to lead the market in North America owing to the factors such as the presence of numerous players such as Toshiba Global Commerce Solutions (US), Honeywell International Inc. (US), First Data Corporation (US), Zebra Technologies Corp. (US), NCR Corporation (US), Kiosk & Display (US), Xerox Corporation (US), READY.ONE (US), and Locbit (US).

The European market for Retail Automation Equipment is expected to stand at the second position during the review period mainly due to the rapid economic growth across countries such as the UK and Germany. Additionally, the rising demand for enhanced customer experience from the retailers is expanding market growth.

Asia-Pacific region is segmented into China, India, Japan, and the rest of the Asia-Pacific and is likely to be the fastest-growing region mainly due to emerging economies such as China and India, which are growing at a rapid pace. Furthermore, China is expected to stand in the leading position, while India is projected to be the fastest-growing country during the forecast period. The Chinese market is expected to report the highest market share mainly due to the high demand for unstaffed stores, vending machines, and unstaffed shelves and a growing consumer preference for a convenient and faster mode of shopping.

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