Retail Automation Market
The Retail Automation Market was valued at USD 12,274 million in 2019, exhibiting a CAGR of 9.2% over forecast period (2020-2027).
The factors driving the growth of Retail Automation Market includes growing demand for automation in the retail sector, increasing number of automated guided vehicles and rising adoption of automated guided vehicles. According to the report published by Bloomberg, the Global Automated Guided Vehicle Market is anticipated to reach USD 3.74 billion, growing at a robust CAGR of 7.86%, which will boost the Global Retail Automation Market. Moreover, retail automation offers several advantages such as reduced operational costs, enhanced customer experience, improved business security and provides detailed analysis sales forecasting and market trends, which helps the business to take strategic decisions. In addition, increasing consumers inclination for ready to eat food products, rising investments by the leading players on research and development activities to enhance the visual strategies and proliferation of autonomous mobile robotics (AMR), are some of the additional factors supplementing the Retail Automation Market size.
However, the growth of Retail Automation Market is hindered due to increasing electricity prices around the world and high dependency on internet.
The leading players operating in the market are Toshiba Global Commerce Solutions Inc., KUKA AG, Datalogic S.P.A., First Data Corporation, Honeywell Scanning & Mobility, Fujitsu Limited, Diebold Nixdorf, Incorporated, NCR Corp., Posiflex Technology Inc. and Pricer among others.
Type: Segment Analysis
Based on type, the camera segment is anticipated to expand at a robust CAGR over the forecast period attributed to increasing cases of theft in retail stores, supermarket, and fuel stations. As per Retail Industry Leaders Association (RILA) and the Buy Safe America Coalition, the retailers in United States lost around USD 70 billion worth of products in 2019 due to theft.
Implementation: Segment Analysis
Based on implementation, the in-store segment is expected to capture the highest market share during the forecast period due to increase in the number of supermarkets and retail stores and adoption of advanced technologies by these stores.
Vertical: Segment Analysis
Based on vertical, the supermarket segment is projected to grow at a remarkable CAGR over the forecast period due to growing adoption of automated order selection systems by the supermarket stores.
Regional: Segment Analysis
Based on region, the North American region is predicted to lead to capture the highest market share over the forecast period. The increasing demand for cost-effective retail services, improved living standards and high disposable incomes, are some of the additional factors propelling the market growth in North American region.
Global Retail Automation Market by Type
Global Retail Automation Market by Component
Global Retail Automation Market by Implementation
Global Retail Automation Market by Vertical
Global Retail Automation Market by Region
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