Retail Automation Market 2020-2026
Global Retail Automation Market Size, Share & Trends Analysis Report by Component (Hardware and Software), and by End-User (Supermarkets/Hypermarkets, Convenience Stores, Fuel Stations, and Other) Forecast Period (2020-2026)
The retail automation market is anticipated to at a CAGR of 12.5% during the forecast period. The retail industry is undergoing unprecedented change. With increasing competitors, coupled with economic pressures and growing customers' expectations, require the retailers to do more with less. In response to these rapid changes, retailers have been increasingly adopting retail automation systems to enhance their operationality and profit margins. By automating business policies and best practices, eliminating error-prone re-entry of information, and removing manual tasks, retail automation solutions increase individual and team efficacy, which allows retailers to deliver results quicker and with superior predictability.
Besides, with the outbreak of the COVID-19 pandemic, retailers had to suffer a major setback in the earlier months of the crisis, due to issues related with supply chains and more. Amid the pandemic, retailers will be looking to compensate for the losses incurred by improving their profit margins and opt for retail automation solutions.
The retail automation market is segmented based on component, and end-user. Based on the component, the retail automation market is segmented into hardware and software. To sub-segmentize, the hardware is based on RFID and barcode scanner, POS systems, vending machines, self-scan checkout systems, and other hardware types. Software is further evaluated as workforce management software, supply chain, inventory management software, retails apps and online store applications. On the basis of, the market is classified into supermarkets/hypermarkets, convenience stores, fuel stations, and other. The supermarket segment is expected to dominate the global retail automation market owing to its need to ease customer shopping and manage large inventories. Besides, hypermarkets are gaining high traction for automation processes with the adoption of technologically advanced products such as POS and automated guided vehicles.
Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the overall retail automation market in 2019 and is expected to remain dominant during the forecast period due to the presence of major market players and on-going developments in retail automation. Furthermore, Asia-Pacific is expected to exhibit the highest growth rate during the forecast period owing to the high number of e-commerce activities in the region.
ABB, BEUMER Group GmbH & Co. KG, Datalogic S.p.A., Diebold Nixdorf, Incorporated; Fiserv, Inc.; Honeywell International Inc., Jungheinrich AG, Microsoft Corporation, Toshiba Global Commerce Solutions, and Toyota Industrial Equipment, among more are some of the prime players operating in the global retail automation market.
The market study of the global retail automation market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.
Secondary Sources Include:
Financial reports of companies involved in the market.
Whitepapers, research-papers, and news blogs.
Company websites and their product catalog.
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
1. Global Retail Automation Market Research and Analysis by Component
2. Global Retail Automation Market Research and Analysis by End-user
The Report Covers:
Comprehensive research methodology of the global retail automation market.
This report also includes a detailed and extensive market overview with the key analyst insights.
An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the global retail automation market.
Insights about market determinants which are stimulating the global retail automation market.
Detailed and extensive market segments with the regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.