Retail automation has controlled global retail stores’ overall functioning today including receiving, transaction processing, merchandising and other back office management proceedings. The human force is being quickly replaced by the hardware and software of Retail automation market.
One of the late 2017 research shows retail automation market is anticipated to grow at more than 9% CAGR from 2017 to 2022 and in value terms, cross USD 14 billion in 2022, growing from nearly USD 9 billion in 2017. This industry covers segments and products such as cash register, barcode reader, self-service machines and card readers. Globally, acceptance and spread of self-service kiosks and self-checkout systems are pushing the retail automation market growth.
The major drivers driving the Retail automation market are decrease in overall cost of retailers and increase in efficiency and accuracy of the proceedings and records maintained. With time, cheaper automation options are also made available to the world. All these factors are increasing the usage of these Retail automation equipments year on year globally.
Geographically, both the Americas conquered the market in 2015 and accounted for the maximum market share of global retail automation market followed by Europe Middle East and Africa. At present, U.S. leads the pack with other countries like Germany and Japan joining the retail automation bandwagon at a fast pace.
More and more retail stores are adapting to this automation trend and ordering lunch or coffee using self-serve computer screen is becoming common in many countries. Big players like Starbucks, A&W and McDonald’s have also adapted the retail automation and retail automation market expert predict a rapid increase in these automated tasks of the retail outlets. A U.S. study by well-known Institute predicts that half of work activities performed today by humans could be automated in another 40 years.
Retail automation market is definitely occupying an important space in many businesses today as automation is helpful for inventory control of a retail store including departmental store, hypermarket, or a shopping mall. It is showing a great improvement in inventory visibility and precision of inventory management. Thus, retail automation is helping to improve customers’ as well as retailers’ satisfaction by reducing the overall operational cost.
It is very evident that the players of retail automation market will have to come up with better accuracy and speed time and again to meet the needs of the end users. To know more about the current scenario and future prospect of the Retail Automation market, refer to the well researched 2018 report accumulated by eMarketOrg.com as shown in the link below:
Global Retail Automation Market Research Report 2018 @ https://emarketorg.com/pro/global-retail-automation-market-research-report-2018/