The retail Automation market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics have been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio, and recent developments. The Market share and Market size prominent players for 2020 to 2025 are profiled in this report.
The retail automation market was valued at USD 12.45 billion in 2019 and is expected to reach USD 24.6 billion by 2025 at a CAGR of 11.20% over the forecast period (2020-2025).
The Retail Automation market is highly competitive and consists of a number of major players: Datalogic S.P.A, Diebold Nixdorf, Incorporated, ECR Software Corporation, EMARSYS, First Data Corporation, Fujitsu Ltd., Future Way Technical Services LLC, Honeywell International Inc., NCR Corporation, Pyramid (Matthews International Corporation), QR Retail Automation (Asia) Sdn Bhd, Toshiba Global Commerce Solutions, Xerox Corporatio, and Others
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Scope of the Report
Retail automation is the use of Artificial Intelligence and Machine Learning in retail operations and includes self-service, standalone kiosks that operate as fully automatic retail stores through the use of software integrations to replace the traditional retail services inside in a conventional retail store. These standalone kiosks are often located in crowded locations such as airports, malls, resorts and transit hubs. They help transactions take place faster and with greater efficiency. It also enhances the customer experience. It empowers employees with real-time data and analytics.
Key Market Trends
Point of Sale Systems to Gain Maximum Popularity
– A Point of Sale (POS) system is expected to have the highest adoption rate due to the number of benefits offered by it in the retail industry. An efficient POS system ensures the smooth running of all the retail operations. The POS serves as the central component for any retail business, where every component of a retail business like sales, inventory, and customer management merges.
– A POS system streamlines operations, gives real-time information to the customers, provides analytics and customer insights by analyzing customer’s buying behavior. These benefits are stimulating the adoption of POS systems in the retail industry.
– Also, with the advancements in technology, a POS system can be deployed both on-premise and on-cloud. With the right POS system, retailers can simplify crucial daily business operations with greater proficiency.
– Further, with the increasing popularity of POS systems, retailers are increasingly using different payment methods. For instance, according to Worldpay, in 2018, card payment (debit card and credit card) accounted for the largest share of point-of-sale payment methods in the Asia Pacific region with 42%. The share of cash payment was still higher than eWallet with 30%. Nevertheless, eWallet was catching up, reaching a share of 27%.
Asia-Pacific Expected to Register the Highest Growth
– The Asia-Pacific region is expected to exhibit the highest growth rate in the global retail automation market in the forecast period. The major factors influencing the growth rate is the drastic increase in the population in the region, due to which the consumer’s demands are also rising.
– Additionally, altering lifestyle amongst customers is further anticipated to fuel the demand for diverse products, thereby propelling the market growth.
– Also, the Asia-Pacific region is the fastest-growing market for smart devices. With the proliferation of smart devices, the customers are provided with a wide variety of choices to choose from.
– Also, with the growing e-commerce and fast delivery options, customer’s expectations for personalized experiences is increasing. Hence, these trends are further expected to stimulate market growth in the region.
– Furthermore, the existing retail giants in the region are partnering with major technology providers to automate their retail chains to capture major market share.
– For instance, in September 2018, Aditya Birla Fashion and Retail Ltd. (ABFRL), Indias leading fashion and lifestyle entity, expanded its existing relationship with IBM to reduce costs, improve productivity enhancements and drive business growth. Through this, the company will be able to use the technology and automation expertise of IBM, and further enhance IT infrastructure, employee productivity through self-help solutions and improved disaster resilience.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Retail Automation Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2025 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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