Date: May 2022
Retail Automation Market worth USD 33.4 billion by 2030
The Market Statsville Group (MSG) publishes the new report on the "Retail Automation Market by Type (Point-of-Sale, Barcode & RFID, Electronic Shelf Label, Cameras, Autonomous Guided Vehicle, and Others), by Implementation (In-store and Warehouse), by End-Users (Hypermarkets, Supermarkets, Single Item Stores, Fuel Stations, and Retail Pharmacies), by Region – Global Share and Forecast to 2030".
The global retail automation market size was USD 14.9 billion in 2021 and is estimated to reach USD 33.4 billion by 2030, growing at a CAGR of 9.4% during the forecast period. A rise in demand for business process optimization in the retail industry is majorly expected to drive the market's growth. Moreover, the globalization of e-commerce activities is expected to rise at a significant rate in the future. In addition, the advent of IoT devices that connect retailers and consumers on the POS platform is likely to drive the growth of the market. However, the high initial investment and set up cost is needed to deploy and implement automation solutions in retail is anticipated to hinder the market growth to a certain extent. The emergence of technologies is opportunistic to enhance the adoption of automation in the near future. Therefore, technological advancements with real-time data and analytics provide lucrative opportunities in the global retail automation market.
Global Retail Automation Market Segmentation
The overall retail automation market has been segmented into the type, implementation, end-users, and region
- By Type (Point-of-Sale, Barcode & RFID, Electronic Shelf Label, Cameras, Autonomous Guided Vehicle, and Others)
- By Implementation (In-store and Warehouse)
- By End-Users (Hypermarkets, Supermarkets, Single Item Stores, Fuel Stations, and Retail Pharmacies)
- By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)
Warehouse, by implementation, is estimated to hold the largest market share during the forecast period
Based on the implementation, the global retail automation market is divided into in-store and warehouse. In 2021, The warehouse segment was the highest contributor to the market, with a share of 62.1% in the retail automation market. Warehouse automation is a set of processes that enhance the supply chain processes to an efficient level where the delivery of products meets end-users demands. In addition, warehouse automation is projected as the most effective way to increase return on investments (ROI) by enhancing inventory accuracy, reducing labor demands, and improving warehouse processes efficiency.
Rising market encumbrance from commoditization and supply chain transformation is a key factor expected to drive the growth of the warehouse automation segment in the market. In addition, the rise in customer expectations toward reducing delivery speeds is also a factor in driving the segment growth as warehouse automation includes physical automation and process automation that helps the retailers fast-track the delivery of products to its customers.
North America accounts for the largest market share in retail automation market in 2021
Region wise segmentation of the global retail automation market is as follows: North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, North America accounted for the highest market share of 37.2% in the global retail automation market. North America is analyzed across the U.S, Canada, and Mexico. North America has harnessed advanced retailing by exploring the boundaries of technology, science, and commerce to meet immediate end user demand and create a high living standard. The U.S. retail economy and rise in GDP growth are driving the force of economic growth, innovation, and productivity in North America.
Modern retailing is shifting toward automated mechanized warehouses in the U.S., and the emergence of extensive technological advancements in in-store operations is making the complex global supply chains more efficient and thereby increasing the global competitiveness among retailers. This shift has encouraged multinational conglomerates to invest significantly in automated logistics and warehouse facilities in the U.S. and across North America.
This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the retail automation market. It also consists of the profiles of leading companies such as Honeywell International Inc., Fiserv, Inc., Fujitsu Limited, NCR Corporation, Posiflex Technology Inc., Datalogic S.p.A., Zebra Technologies, Diebold Nixdorf, Toshiba Global Commerce Solutions, and KUKA AG.
Browse the complete report: https://www.marketstatsville.com/retail-automation-market
About Market Statsville Group
Market Statsville Group (MSG) is a business research and consulting platform of Statsville Consulting Private Limited, based in Oklahoma, USA. MSG is the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your every need. MSG provides solutions in a wide range of industry verticals in market sizing, analysis, and intelligent business insights. MSG has experienced research analysts who are proficient at digging deep and providing various customizable data that help you make decisions with clarity, confidence, and impact. Furthermore, Market Statsville Group already benefited more than 1,000 companies each year for their revenue planning. It helped them take their disruptions/innovations early to the market by providing them research ahead of the curve.
MSG has an entire repository of research reports on more than 1,000 niche industries, 3,000 high-growth potentials markets, 5,000 data sets, and more than 12,000 company profiles.
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