Retail Automation Market Overview, Scope and Technology Advancement Outlook 2021-2030

The Global Retail Automation Market size was valued at USD 12.29 billion in 2019 and is predicted to reach USD 33.02 billion by 2030, with a CAGR of 9.4% from 2020-2030.

Retail automation is the amalgamation of technologies deployed to semi-automate or fully-automate the retail stores or warehouses, benefitting the retailers with increased operational efficacy, reduced errors, quick & easy access, higher precisions, minimal human intervention, and consequently decreased labor cost.

Autonomous Guided Vehicle (AGV), Autonomous Mobile Robotics (AMR), automated retail kiosks, self-vending machines, online distribution channels, and other retail automations are gaining momentum in-stores as well as in warehousing, hence proliferating the growth of global retail automation market.

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

Market Dynamics and Trends

Approximately 1.8 billion people purchased goods online amounting to $2.8 trillion in the year 2018 and this figure is expected to elevate up-to $4.8 trillion by 2021. This trend is expected to create new avenues for the growth in the global retail automation market in coming future.

Furthermore, increase in demand for merchandise optimization, higher adoption of AI, IoT, API, and robotics technologies, emerging concept of Logistic warehousing, growing trend of e-commerce & m-commerce retails, advancements in real-time data analytics, as well as evolution of virtual marketing, are the factors driving the growth of global retail automation market.

However, higher installation and maintenance cost, and lack of awareness regarding retail automations in the budding economies, are expected to impede the retail automation market growth during the forecast period.

Moreover, advancements in product technologies, schemes offered by online-retailers to attract consumers, increasing purchasing power of consumers, modernization of infrastructures, and untapped market opportunities offered by emerging economies, are anticipated to supplement the growth of retail automation market in coming future.

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Market Segmentations and Scope of the Study:

The global retail automation market share has been analyzed based on type, implementation, end user and geography.

Based on type, the retail automation market is segmented into Barcode & RFID, Point-of-Sale (POS), Camera, Electronic Shelf Label (ESL), Autonomous Guided Vehicle (AGV), and others. Based on implementation, the market is fragmented in-store and warehouse. Based on end user, the market is divided into hypermarkets, supermarkets, single item stores, fuel stations, and retail pharmacies. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America dominated the global retail automation market in the past, and is expected to maintain its dominance throughout the forecast period, owing to well-established retail infrastructures, presence of key manufactures, and a large consumer base.

Asia Pacific is expected to show rapid growth in the global retail automation market with substantial market share, owing to increase in per-capita disposable income, changing consumer preferences, increase in digital transformations, and technological evolution.

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