Retail Automation Market Size to Grow by USD 8.80 billion | APAC to Notice Maximum Growth | Technavio – QNT Press Release


NEW YORK, May 26, 2022 /PRNewswire/ — The retail automation market size is estimated to grow by USD 8.80 billion from 2021 to 2026. Moreover, the growth momentum of the market will accelerate at a CAGR of 10.2% during this period. The market has been segmented by type (point-of-scale, barcode and RFD, camera, and others), end -user (supermarkets, hypermarkets, single item stores, fuel stations, and retail pharmacies), and geography (APAC, North America, Europe, Middle East and Africaand South America).

The high adoption of contactless payment solutions is driving the growth of the retail automation market. However, factors such as privacy and security concerns may challenge the market growth.

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Retail Automation Market: Opportunities

The high adoption of contactless payment solutions is driving the growth of the retail automation market. Mobile payment gateways, including Apple Pay and Samsung Pay, have made the process of paying bills easy. Hence, various retailers are adopting platforms such as NFC POS terminals, which facilitate mobile payments. The high adoption of contactless EMV cards will also encourage the implementation of NFC POS terminals. The increasing need for faster checkouts at retail outlets, high adoption of EMV cards, effective information management among retailers, and the growth in focus toward secure payments are some of the factors that will contribute to the growth of the global retail automation market.

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Retail Automation Market: Segmentation by Type

The point-of-scale segment will have significant market share growth during the forecast period. POS offers various advantages compared to traditional cash registers. It can be used to store, share, and keep track of sales, payment, and customer information, thus saving time and increasing efficiency and accuracy. These factors will drive the growth of this segment during the forecast period.

Retail Automation Market: Segmentation by Geography

APAC will have the highest market share growth during the forecast period. The growth of the region will be driven by factors such as the growing level of urbanization and the increase in the disposable income of the people. Moreover, market growth in this region will be slower than the growth of the market in other regions. China and Japan are the key countries for the retail automation market in APAC.

Retail Automation Market: Major Vendors

The retail automation market is fragmented, and the vendors are deploying growth strategies such as increasing M&A activities to compete in the market. Some vendors that offer products directed at the process industries are trying to increase their market presence and market share by horizontally integrating with system integrators and regional automation service providers.

A few of the key vendors operating in the retail automation market include Datalogic Spa, Diebold Nixdorf Inc., ek robotics GmbH, FAMETECH INC., Fiserv Inc., Fujitsu Ltd., Grey Orange Pte. Ltd., Honeywell International Inc., iFuture Robotics, Infoplus Commerce, KUKA AGNapse, NCR Corp., Posiflex Technology Inc., Pricer AB, Sea Point China Ltd., Simbe Robotics Inc., Toshiba Tec Corp., Vinculum Solutions Pvt. Ltd., and Zebra Technologies Corp., among others.

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Retail Automation Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 10.2%

Market growth 2022-2026

USD 8.80 billion

Market structure

Fragmented

YoY growth (%)

8.34

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 33%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Datalogic Spa, Diebold Nixdorf Inc., ek robotics GmbH, FAMETECH INC., Fiserv Inc., Fujitsu Ltd., Grey Orange Pte. Ltd., Honeywell International Inc., iFuture Robotics, Infoplus Commerce, KUKA AG, Napse, NCR Corp. , Posiflex Technology Inc., Pricer AB, Sea Point China Ltd., Simbe Robotics Inc., Toshiba Tec Corp., Vinculum Solutions Pvt. Ltd., and Zebra Technologies Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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