SHERIDAN, WYOMING, UNITED STATES, August 16, 2022 /EINPresswire.com/ — 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. Looking forward, IMARC Group expects the market to reach US$ 26.3 Billion by 2027, exhibiting a CAGR of 9.59% during 2022-2027.
The term “retail automation” describes the numerous technologies employed by retail establishments to streamline, automate, and simplify routine tasks. To guarantee that duties are carried out consistently and accurately, it also includes software where managers can define certain parameters. Self-checkout systems, touch-enabled point of sale (POS) terminals, mobile apps, service kiosks, etc. are all examples of retail automation. Numerous retail processes, such as order fulfilment, purchasing, data aggregation, etc., can be automated using these technologies. Retail automation helps to increase productivity, decrease human error, enhance the in-store experience, routinely update data, etc. These solutions are widely used in crowded places including shopping malls, airports, resorts, and transit hubs.
Covid-19 Scenario: 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.
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Market Trends and Drivers:
One of the main drivers of the retail automation market is the rising need for business process optimization in the retail sector. Accordingly, the increase in research and development (R&D) projects focused at expanding the potential of virtual marketing in the retail industry is fueling the market’s expansion. The global market is also expanding as a result of the increased demand to automate many manual activities, including bookkeeping, inventory management, accounting, etc., in order to save time and increase efficiency. A important additional aspect driving increase in automation is the introduction of real-time analytics. In addition, it is projected that over the forecasted period, rising security issues, such as inventory theft and loss, will drive the retail automation industry.
Retail Automation Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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.
The report has segmented the market on the basis on region, type, implementation, end user.
Breakup by Type:
Barcode and RFID
Electronic Shelf Label (ESL)
Autonomous Guided Vehicle (AGV)
Breakup by Implementation:
Breakup by End User:
Supermarkets and Hypermarkets
Single Item Stores
Breakup by Region:
North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
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Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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