Over the last few years, technological advancements have gained significant traction in the retail automation market. According to a new Future Market Insights (FMI) study, the retail automation market will exceed US$ 18.62 billion by 2021. Automation solutions that integrate analytics are expected to provide numerous opportunities in the retail industry.
The ability to accurately analyze data and make decisions using analytical automation is expected to help retailers gain a competitive advantage in the market. As a result, consumer purchasing patterns analysis is expected to drive market growth in the coming years. Furthermore, the increase in data analytics activities in retail, such as recommendation systems, provides another opportunity for global market players to significantly increase their revenue.
Takeaways from the Retail Automation Market
- During the forecast period of 2021-2031, the global retail automation market is expected to grow at a CAGR of more than 11.0 percent.
- South Asia & Pacific is expected to have the highest CAGR among the regions, owing to the increased adoption of digitalization in the retail industry in India, Indonesia, Australia, and other countries.
- Because of the expansion of the retail sector, the Chinese market is expected to grow at an impressive CAGR.
- In the North American market, the United States is expected to account for an overwhelming 80 percent of demand in 2021.
- The retail automation market in the United Kingdom. In 2021, it is expected to grow by more than 10% year on year.
Important Players
- Datalogic S.p.A
- NCR Corporation
- Honeywell International Inc.
- KUKA AG
- Zebra Technologies Corporation
- Fujitsu Limited
- Samsung Electronics Co. Ltd.