Retail Automation Market to be Driven by Rising Consumer Demand For Faster, Quality Services & Benefits of Business Optimization Till 2025 | Million Insights
FELTON, California, Aug. 12, 2019 /PRNewswire/ -- Global Retail Automation Market is anticipated to reach USD 19.17 billion by 2025. Retail automation implies the usage of machinery and smart devices to undergo customized operational procedures in order to decrease the cost and improve the efficiency. Retail automation offers an integrated tool to carry out the retail activities such as time & attendance, product handling, workforce management, store audit, task management, and others.
The factors that propel the growth of the retail automation industry include reduced cost of retailers, benefits of business optimization, increase in demand for retail automation products, and rising demands of customers for fast service and quality. On the other hand, there are factors that may hamper the growth of the market including the increase in need to monitor self-service kiosk, and requirement of high initial investment. Retail Automation Market is anticipated to grow at a significant CAGR of 8.7% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Retail Automation industry may be explored by product, implementation, end user, and geography. The market may be explored by product as POS, Barcode and RFID, Cameras, Autonomous Guided Vehicles, Electronic Shelf Labels, and Others. The "Barcode and RFID" dominated the retail automation market in 2016 and is anticipated to maintain its dominance by 2025 owing to rising security concerns regarding administrative thefts, errors, and other security problems.
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The market may be explored by implementation as Warehouse, and In-store. The "Warehouse" dominated the retail automation industry in 2016 and is anticipated to maintain its dominance by 2025 owing to large investments in warehouse, technological developments, increase in the number of stock keeping units (SKUs), and increase the efficiency of their warehouse operations. The market may be explored by end user as Supermarkets, Hypermarkets, Convenience Stores, Retail Pharmacies, and Fuel Stations. The "Retail Pharmacies" section dominated the Retail Automation Market in 2016 and is anticipated to maintain its dominance by 2025.