Global Retail Automation Market to Reach US$ 26.3 Billion by 2027, Impelled by Significant Growth in Retail Industry

September 19, 2022

According to the latest report by IMARC Group, titled "Retail Automation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global retail automation market reached a value of US$ 15.1 Billion in 2021. Retail automation is a technology that operates as a fully automatic retail store with software integration. It consumes less time while purchasing and consumers can browse the products using a touchscreen interface. It enables the selection of the product of their choice to pay for it using a debit or credit card. It assists in processing, triggering responses, communicating with other digital systems transactions, and manipulating data. Implementing retail automation offers various benefits, such as lower operational risks, reduced cost, better customer experience, and improved efficiency. Besides this, retail automation can reshape business models and provide broader value chain opportunities for players operating in the market.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Retail Automation Market Trends:

The global market is majorly driven by the rising demand for robotic process automation in the logistics industry. The emergence of industry 4.0 and a prominent shift in company business operations are creating a positive outlook for the market. Furthermore, rapid technological advancements have boosted the adoption of automation in retail industries. Also, the advent of autonomous mobile robotics and autonomous guided vehicle in the retail sector is catalyzing the market. Moreover, the growing need to enhance consumers' engagement in shopping or purchasing goods has propelled the retail industry to automate its operational processes. Additionally, the rapid integration of retail automation with machine learning to help advance the capabilities of software bots is positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 26.3 Billion by 2027, exhibiting a CAGR of 9.59% during 2022-2027. 

Market Summary:

  • On the basis of the type, the market has been segmented into Point-of-Sale (POS), barcode and RFID, Electronic Shelf Label (ESL), camera, Autonomous Guided Vehicle (AGV), and others.
  • Based on the implementation, the market has been classified into in-store and warehouse.
  • On the basis of the end user, the market has been segregated into supermarkets and hypermarkets, single item stores, fuel stations, and retail pharmacies.
  • On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include AGS Transact Technologies Ltd., Diebold Nixdorf Incorporated, Fiserv Inc., Fujitsu Limited, Honeywell International Inc., NCR Corporation, Olea Kiosks Inc, Posiflex Technology Inc., Probiz Technologies Prvt, Sea Point China Limited, Simbe Robotics Inc. and Zebra Technologies Corporation.
     

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Global Retail Automation Market to Reach US$ 26.3 Billion by 2027, Impelled by Significant Growth in Retail Industry
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