The extensive usage of autonomous mobile robotics (AMR) and autonomous guided vehicles (AGV) in the retail industry has expanded the use of automation, which is expected to raise demand for retail automation throughout the course of the forecasted
Industry analysts predict that the retail automation market will grow from US$ 16.22 billion in 2022 to US$ 40.56 billion in 2032. Over the course of the anticipated period, the market is anticipated to grow at a CAGR of 9.6%, according to FMI. The extensive usage of autonomous mobile robotics (AMR) and autonomous guided vehicles (AGV) in the retail industry has expanded the use of automation, which is expected to raise demand for retail automation throughout the course of the forecasted period.
The rise in business operational adjustments brought on by the pandemic-induced work-from-home trend is one of the major drivers of the retail automation market’s expansion.
Key Takeaways
? The retail automation market is likely to have a CAGR of 9.6% during the forecast period.
? Among all deployments, the cloud segment is anticipated to have the largest CAGR of 13.3% during the projection period.
? North America holds a significant share in the global retail automation market.
? During the forecast period, the retail automation market in Asia Pacific is expected to have a CAGR of 9.9%.
? The value of the retail automation market is expected to be US$ 40.56 billion by 2032.
? In 2020, hardware components held a 44.2% market share, dominating the retail automation market.
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Competitive Analysis:
As more products have been added, there is a greater need for efficient warehousing and inventory management systems. Companies that compete in the market employ a range of expansion strategies to build their presence in desirable regions. As the number of smartphone users rises every year, customers are getting used to using debit or credit cards, as well as loyalty cards, at E-POS establishments.
Key players
Recent Developments: Product launches/Collaboration
? First Data purchased The Software Express, a provider of electronic money transfers (EFT), in March 2019. Both businesses can grow through the acquisition in terms of retail customers, financial institutions, and electronic payment transactions.
? The Toshiba Corporation introduced ELERA and a unified commerce platform in January 2021. This launch aims to hasten the transition to a world without obstacles.
? NCR Corporation said in January 2021 that it has acquired Freshop, the market leader in groceries e-commerce. Retailers, especially local and regional grocery chains, are able to easily deploy the capabilities to directly satisfy their customers’ demands thanks to the addition of e-commerce to NCR’s market-leading retail core POS platform
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Key segments
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the WMS Market
3.2. Innovation / Development Trends
3.3. Key Success Factors
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How Does Lack of Management Influence the Retail Automation Market?
Every day, retailers handle a wide range of procedures. Departmental integration is a crucial requirement that cannot be ignored in order to manage them successfully and align them with company goals.
Moreover, retailers encounter a number of significant obstacles, including improper storage design, a poor product mix in-store, inefficient warehouse space usage, frequent pricing fluctuations, swift shifts in consumer needs, and an absence of control over channel partners.
Additionally, businesses must meet demanding standards in the areas of e-commerce, retail, and the related logistics, such as same-day delivery, click-and-collect, or straightforward returns processing. As a result, it is anticipated that businesses with excellent logistics would stand out from the competitors and be able to dominate the market over the long run.
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Jan 23, 2023
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