Press release
Retail Automation Market Size & Growth Report and Forecast 2024-2032
Retail automation encompasses a range of technologies designed to automate the retail operations, including but not limited to point of sale (POS) systems, kiosks, self-checkout systems, and automated inventory management systems. These technologies not only streamline operations but also reduce costs, improve customer service, and enhance the overall shopping experience.
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Automation helps reduce the reliance on human labour, thus decreasing labour costs and mitigating the impact of labour shortages. As consumers increasingly value convenience and speed in their shopping experiences, demand for self-service technologies such as self-checkout lanes and interactive kiosks has risen sharply, consequently driving up the retail automation market share.
The retail automation sector is expecting rapid growth in the POS terminal sector. POS terminals play a crucial role in retail by facilitating sales processing and managing various aspects such as inventory, orders, fulfilment, and customer experiences. By implementing automation, POS operations can be enhanced in terms of speed and accuracy, resulting in quicker transactions and fewer errors, ultimately improving the overall customer experience. The barcode and RFID segment is projected to experience significant expansion during the forecast period, as these technologies are increasingly utilised for logistics and tracking applications in the retail sector, leading to retail automation market growth.
Recent advancements in RFID technology, such as electronic printing and conductive ink, have enabled companies to print chip-less RFID tags. Barcode and RFID technology simplify routine inventory checks, enhance inventory accuracy, and improve management for retailers, ultimately providing greater convenience for customers.
North America is currently leading the market due to its advanced technological infrastructure and quick adoption of new technologies. Europe follows closely, with significant investments in automation to improve retail productivity. The Asia-Pacific region, led by countries like China, Japan, and South Korea, is expected to experience the highest growth rate. This surge is attributed to rapid urbanization, growing retail sectors, and increasing acceptance of advanced technologies, leading to retail automation market expansion.
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Retail Automation Market Segmentation
The market can be divided based on the component, type, implementation, end-user, and region.
Market Breakup by Component
Hardware
Software
Market Breakup by Type
POS Terminal
Barcode and RFID
Electronic Shelf Label
Camera
Autonomous Guided Vehicle (AGV)
Automatic Storage and Retrieval System (ASRS)
Others
Market Breakup by Implementation
In-Store
Warehouse
Market Breakup by End-User
Hypermarkets
Supermarkets
Single Item Stores
Petrol Pumps/Fuel Stations
Health and Retail Pharmacies
Market Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global retail automation market. Some of the major players explored in the report by Expert Market Research are as follows:
Datalogic S.p.A.
Diebold Nixdorf Inc.
Fujitsu Ltd.
Honeywell International Inc.
NCR Corporation
Posiflex Technology Inc.
Toshiba Global Commerce Solutions
Zebra Technologies Corp.
SpotOn Transact, LLC
RapidPricer
Others
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