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2019

Retail Automation Market

Retail Automation Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (Point-of-Sale (POS), Barcode & RFID, Electronic Shelf Label (ESL), Camera, Autonomous Guided Vehicle (AGV), and Others), Implementation (In-store and Warehouse), and End User (Hypermarkets, Supermarkets, Single Item Stores, Fuel Stations, and Retail Pharmacies): Global Opportunity Analysis and Industry Forecast, 2019-2026

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Author's: Sneha Korad and Makarand Sinnarkar | Vineet Kumar
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Retail Automation Market Outlook: 2026

The retail automation market size was valued at $11.24 billion in 2018, and is projected to reach $23.58 billion by 2026, growing at a CAGR of 9.6% from 2019 to 2026. Retail automation has revolutionized the retail operations. Technological advancements have proliferated adoption of automation in retail industries. The benefits of automated retail have increased the awareness about automation in retail operations that help optimize  inventory, purchase or sales services, and others, which are expected to drive the growth of the market. For example, automated guided vehicles are adopted to perform heavy-lifting tasks in a warehouse as these systems can work continuously and perform the repetitive tasks with the same accuracy and efficiency. Hence, proliferation of autonomous mobile robotics (AMR) and autonomous guided vehicle (AGV) in the retail industry has boosted the adoption of automation, which in turn is expected to drive the growth of the global retail automation market during the forecast period.

Retail Automation Market

Economic growth of a nation is exponentially dependent on the buying or purchasing power of the consumers. Thus, need to increase engagement of consumers in shopping or purchasing goods has compelled the retail industry to automate its operational processes significantly. In addition, automation can reshape retail business models and provide broader value chain opportunities for players operating in the market. Therefore,  factors expected to drive the growth of the global retail automation market in the coming years.

However, lack of awareness about the benefits of retail automation in developing economies is expected to restrain the growth of the global market. Furthermore, rise in R&D activities to enhance the virtual marketing scope in the retail sector is opportunistic for the global market. In addition, advent of real-time analytics in automation is further expected to provide significant revenue growth opportunities for players operating in the global market.

Based on type, the point-of-sale (POS) segment dominated the market in 2018 and is expected to continue this trend during the forecast period. Rise in R&D has developed advanced POS systems such as RFID transponders and advanced one-click & contactless payment options, which is expected to drive the growth of the POS segment in the global retail automation market during the forecast period. Moreover, biometric-based POS systems are creating a streamlined process for personalized payment options to the end-user. This in turn is expected to boost the growth of the segment.

Retail Automation Market
By Type
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Point-of-Sale (POS) is projected as one of the most lucrative segments.

North America dominated the overall retail automation market share in 2018, as several major players are operating from this region, owing to availability of well-developed IT infrastructure. Asia-Pacific is expected to exhibit high growth in terms of CAGR in the coming years owing to rise in adoption of digitalization in the retail industry in the region.

The report focuses on the growth prospects, restraints, and market analysis. The study provides Porter’s five forces analysis of the retail automation industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the retail automation market trends.

Retail Automation Market
By Implementation
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Warehouse is projected as one of the most significant segments.

Segment review

The retail automation market is segmented on the basis of type, implementation, end user, and region. Based on type, the market is categorized into Point-of-Sale (POS), barcode & RFID, electronic shelf label (ESL), camera, autonomous guided vehicle (AGV), and others. On the basis of implementation, it is divided into in-store and warehouse. Depending on end user, it is categorized into hypermarkets, supermarkets, single item stores, fuel stations, and retail pharmacies. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key market players operating in the global retail automation market include Datalogic S.p.A., Diebold Nixdorf, Incorporated, Fiserv, Inc., Fujitsu Limited, Honeywell International Inc., KUKA AG, NCR Corporation, Posiflex Technology Inc., Toshiba Global Commerce Solutions, and Zebra Technologies.

Retail Automation Market
By End User
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Supermarkets is projected as one of the most significant segments.

Top impacting factors    

Rise in demand for business process optimization in the retail industry

Retailers across the globe are streamlining workflows owing to need to optimize their business process as it provides transparency and visibility in the supply chain. This has led to increase in adoption of strategies such as digitalization, to drive the growth of the global retail automation market during the forecast period. 

Advent of automation has reduced the pressure to outsmart the competition, surpassed customer expectations, increased opportunities to boost revenue, and improved organizational efficiency. This in turn has proliferated the adoption of automation in the retail industry owing to its ability to provide end-to-end visibility, streamline operations, eliminate redundancies, and others benefits.

Technological advancements with real-time data and analytics

Integration of analytics technology with automation solutions is expected to provide numerous opportunities in the retail industry in the future. The ability of analytical automation to take decisions on the basis of analyzed data is anticipated to help retailers gain a competitive edge in the market. Thus, analysis of the buying patterns of consumers is expected to drive the growth of the market in the coming years. Moreover, rise in data and analytics transformation activities in retail such as recommendation systems, is another opportunity for the global market players to significantly increase their revenue.

Retail Automation Market
By Region
2026
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific would exhibit the highest CAGR of 11.5% during 2019-2026.

Key Benefits for Retail Automation Market:

  • This study includes the retail automation market analysis, trends, and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities of the market.
  • The retail automation market forecast is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the industry.
  • Porter’s five forces analysis illustrates the potency of the buyers & suppliers in the market.

Retail Automation Market Report Highlights

Aspects Details
Retail Automation Market By Type
By Type
  • Point-of-Sale (POS)
  • Barcode & RFID
  • Electronic Shelf Label (ESL)
  • Camera
  • Autonomous Guided Vehicle (AGV)
  • Others
Retail Automation Market By Implementation
By Implementation
  • In-store
  • Warehouse
Retail Automation Market By End User
By End User
  • Hypermarkets
  • Supermarkets
  • Single Item Stores
  • Fuel Stations
  • Retail Pharmacies
Retail Automation Market By Region
By Region
  • North America  (U.S., Canada)
  • Europe  (Germany, France, UK, Rest of Europe)
  • Asia-Pacific  (Japan, China, India, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players
Key Market Players

Fujitsu Limited, Posiflex Technology, Inc., Diebold Nixdorf, Incorporated, Toshiba Global Commerce Solutions, KUKA AG, Fiserv, Inc., Zebra Technologies Corporation, Datalogic S.p.A., NCR Corporation, Honeywell International Inc.

Analyst Review

Advent of emerging technologies has disrupted the retail industry, which in turn has boosted the demand for retail automation across the globe. Retailers are opting for customizable solutions that offer exquisite consumer experience, which is driving the growth of the market.  Retail industry is witnessing revolutionary changes as the consumer demands positively impact the economic growth of a nation. This rise in need to ease the shopping process and provide high-quality services to consumers have significantly fueled the growth of automation in the retail industry. Furthermore, increase in purchasing power of the consumers improves the economy of a nation. This in turn is expected to fuel the growth of the market in the coming years.

Moreover, growing demand for business process optimization in the retail industry is expected to drive the growth of the global retail automation market during the forecast period. However, high initial investment and set up cost needed to deploy and implement automation solutions in retail is expected to hinder the market growth to a certain extent. Emergence of technologies that are opportunistic for the market is expected to boost the adoption of automation in the near future. Thus, technological advancements with real-time data and analytics are expected to provide lucrative opportunities the global retail automation market.

Based on type, the Point-of-Sale (POS) segment garnered major market revenue in 2018 and is expected to remain dominant during the forecast period. The growth of this segment is mainly attributed to rise in demand for software-based services and solutions coupled with high adoption of software automation services across diverse enterprises. Further, the camera segment is expected to exhibit highest growth rate throughout the forecast period.

North America dominated the overall retail automation market in 2018 and is expected to remain dominant during the forecast period due to presence of major market players and on-going developments in retail automation. Furthermore, Asia-Pacific is expected to exhibit highest growth rate during the forecast period owing to high number of e-commerce activities in the region
 

Author Name(s) : Sneha Korad and Makarand Sinnarkar | Vineet Kumar

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Retail Automation Market

Global Opportunity Analysis and Industry Forecast, 2019-2026