Retail Automation Market Is Expected to Witness Significant Growth With Significant Demand During Forecast

According to a recent report published by Allied Market Research, titled, " Retail Automation Market by Type, Implementation, and End-User: Global Opportunity Analysis and Industry Forecast, 2019-2026,"

The retail automation market size was valued at $11.24 billion in 2018, and is projected to reach $23.58 billion by 2026, growing at a CAGR of 9.6% from 2019 to 2026.

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Retail automation is a set of automated processes that integrate software and hardware solutions to manage the retail activities such as inventory management, product management, workforce management, store audit, and others. Retail automation typically includes self-service processes and standalone kiosks that operate as completely automatic retail stores with the help of software integrations. Rise in margin pressure is driving the retailers to opt for unique solutions that can differentiate them in intense competition and increase in global e-commerce activities across the globe have positively impacted the retail automation market.

The global retail automation market is expected to register substantial growth in the near future, which is attributed to rise in need to optimize business processes and increase in need for centralized monitoring & controlling platform for inventory management. In addition, proliferation of mobile devices among consumers has increased the application areas of connected devices. For example, with the help of a mobile application, the consumer can check or buy a product without having to wait in long queues. However, requirement of high initial investment is expected to restrain the growth of the market to a certain extent.

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Competitive Analysis:
The competitive environment of Retail Automation Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Retail Automation Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
Datalogic S.p.A.
Diebold Nixdorf Incorporated
Fiserv, Inc.
Fujitsu Limited
Honeywell International Inc.
KUKA AG
NCR Corporation
Posiflex Technology Inc.
Toshiba Global Commerce Solutions
Zebra Technologies and Many More

Region-wise, Asia-Pacific is expected to witness significant growth in terms of CAGR in the upcoming years.

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Based on type, the POS segment dominated the overall retail automation market in 2018 and is expected to continue this trend during the forecast period. This is attributed to rise in adoption of POS systems among the retailers due to growing demand for hassle-free checkout processes by consumers. The warehouse industry dominated the retail automation market in 2018 and is expected to proliferate the growth of market during the forecast period.

This is attributed to rise in adoption of automated systems such as automated guided vehicles, autonomous mobile robots, and automated storage & retrieval systems, which is expected to further drive the growth of the global retail automation market during the forecast period. Further, the single item stores segment is expected to witness the highest CAGR during the forecast period as the single brand shops are opting for digitalization solutions to offer consumers with smart solutions such as omni-channel payment modes.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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