Retail Automation Market Predicts Asia-Pacific to Exhibit the Fastest Growth Rate Till 202
Retail automation refers to use of various smart devices and equipment to automate the retail operations in order to lower operation costs and to enhance productivity.
The Retail Automation Market deals with the development, manufacture and distribution of automated retail machines and supporting retail automation systems. Retail automation products can be described as smart devices which enable automation of retail operations for superior productivity and reduction of operating expenses.
The Retail Automation Market allows customers to utilize standalone machines located in a diverse range of places like airports or malls which essentially means that point of sale systems are independent. The emphasis is on self-service as products can be accessed or bought from anywhere. Automated retail consists of 3 major components in visual merchandise, big data and planogram.
Scope & Regional Forecast of the Retail Automation Market
The main benefits provided by the Retail Automation Market are simplifying the process of sales, improving the efficiency of maintaining a product's stock and the availability of easily accessible commerce platforms. The rapid advancement in technological innovation has prompted several prominent reatilers to assess their retail management system and integrate retail automation products as well as automation solutions in their daily operations.
The retail automation products provided by the Retail Automation Market has led to a revolution within the traditional retail management system. Consumers are now more comfortable with touchscreen interfaces when it comes to point of sale systems. Retailers depend heavily on automated retail machines for cost reduction and faster processing.
Currently, the Retail Automation Market is dominated by Americas followed by Europe. Though the Asia-Pacific region is not a big driver of demand right now, it is expected to exhibit the fastest growth rate for automation solutions and retail automation systems till at least 2021. The enormous population in this region combined with the gradual advancement of retail stores are expected to drive this rapid growth.
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Segmentations & Key Players Involved in the Retail Automation Market
According to IndustryARC findings, the Retail Automation Market can be broken down into various segmentations on the basis of –
Type: Electronics Point-of-Sale (EPOS), Self-Checkout, KIOSK, Vending Machines and Others.
Component: Software and Hardware (Smart Cart, Card reader, Barcode scanner, RFID, KIOSK, PDA, Cash registers, PC & cast drawer system, Weighing scale, Bill Printer, Currency Counter, Others, Server and Data buses/ Cables).
End-User Industry: Food/ Non-Food Service Industry (Supermarkets, Hypermarkets, Convenience stores, Others), General Merchandise (Department stores, Mass Merchandisers, Variety stores), Hospitality (Restaurants, Fast food outlets, Hospitals, Clinics, Others), Petrol/ Diesel stations, Telecom, Airports and Others.
Some of the key players involved in the Retail Automation Market according to IndustryARC are as follows:
· Frank Mayer and Associates, Inc
· TIO Networks Corp
· Crane Payment Innovations
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Retail automation refers to use of various smart devices and equipment to automate the retail operations in order to lower operation costs and to enhance productivity. This market is one of the fastest growing markets owing to increasing incorporation of
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Jan 09, 2017