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The global retail automation market is expected to witness strong growth during the forecast period between 2021 and 2031.
Retail automation refers to the deployment of technology in retail businesses and works on the principle of automating, simplifying, and decreasing manual work from an employees’ workload, as much as possible.
A few examples of retail automation products include service kiosks, vending machines, and retail kiosks.
The integration of retail automation has helped in developing a new sales channel for retailers and brands, to achieve their target audience in an unconventional way.
Along with achieving the target audience efficiently, retail automation has also helped in promoting novel product launches, and decrease the total operational expenditure.
The implementation of automated technologies in the retail industry is the key growth driver for the global retail automation market.
Retail automation offers several benefits such as reduced costs, higher speed and accuracy, and improved quality of performance for consumers in the retail industry, which is expected to drive the growth in the retail automation market, in the coming years.
Government initiatives and measures, promoting the numerous benefits of integrating retail automation could help fuel the demand for retail automation products, across various industries and thereby, bolster the overall retail automation market, as well.
Integration of analytics technology with automation solutions is expected to propel the retail automation demand in the years ahead.
The camera product segment is expected to make the largest contribution to the overall retail automation market, owing to an increase in the deployment of CCTV cameras in commercial buildings such as malls, to tackle the issue of increasing security threats.
The supermarket end-use segment is expected to contribute the most to the overall retail automation market, due to an increasing need to attract more customers and reduce labor costs, at these facilities.
The global retail automation market comprises several well-established players, many of whom could look to engage in different growth strategies in a bid to gain a competitive edge over the other market players.
Collaborations with lesser-known players could help the prominent players expand their market presence and increase their revenue share.
Foreign investments and funding from private investors could help the smaller market players, in the long-term.
R&D undertakings could be a key growth strategy for the leading players in the global retail automation market, in the years ahead.
Some of the key players in the global retail automation market include Fujitsu Limited, Datalogic S.P.A, First Data Corporation, Zebra Technologies Corporation, Pricer, and Toshiba Global Commerce Solution Inc.
The global retail automation market is divided into five regions, namely, North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
North America is expected to be the dominant region in the global retail automation market in future owing to the presence of well-established players in countries such as the U.S and Canada and the availability of high-quality IT infrastructure, in both countries.
Asia Pacific is expected to witness substantial growth in the overall retail automation market due to the increasing adoption of digitalization in countries such as India and China.
Leading players in the retail automation market may also establish R&D centers in these countries, owing to the ease in availability of key resources such as land and labor.
Middle East and Africa is also expected to witness strong growth in the retail automation market, because of rising foreign direct investments in the retail automation industry in countries such as Brazil.
Other regions such as Europe and Latin America are expected to witness moderate growth in the retail automation market, in future.
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Retail Automation Market
