Retail Automation Systems Market Growth Factors, Applications, Regional Analysis, Key Players and Forecasts by 2024

Retail Automation Systems Market Retail Automation Systems Market

The growing retail market and consumers’ need for more advanced services (such as easy access to services and products anytime and from anywhere) are the major growth drivers for the global retail automation systems market. To balance the market needs, retailers need advanced systems such as quick processing and result accuracy. The constant growth of self-checkout system and self-service machines such as kiosk is increasing the growth of the global market. The growth in population and increase in urbanization are some of the other factors, driving the growth of the global retail automation systems market.

Retail automation systems are the standalone self-service machineries located in areas experiencing high traffic such as malls, resorts, airports, and convenient stores. Consumers select products using a touch screen display, pay for purchases through a debit or credit card and then the product is dispensed, sometimes through an internal robotic arm in the machine. In retail, the automation booths are used for vending fresh foods, DVDs, gift cards, coffee, beauty products, coin counting as well as photography.

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North America dominates the global market of retail automation systems. The operational difficulty to manage self-service machines and high dependence on power are some of the factors hindering the growth of the global retail automation systems market. The regular need for retailers to feed their products into the kiosks, sometimes leads to increase in waiting time for users which is challenging the growth of the market. Outerwall Inc. integrated Redbox Play Pass Loyalty Program, which amplified the customer engagement as well as its rental frequency in October 2014. Also in June 2015, AVT Inc., a retail automation systems company, announced the launch of a new Endcap retailer system, which can be used in retail locations for holding, display, and selling high value products safely.

Market Segmentation:

By Point of Sale (POS) products

  • Kiosk
  • SCO
  • Cash Register
  • Receipt Printer
  • Currency Counter
  • Weight Scale
  • Barcode Reader

By Supply Chain Products

  • Belt Conveyor
  • Scissor Lift
  • Electronic Shelf Label

By Technology

  • CAD (Computer aided designing)
  • NCD (Numerically controlled devices)
  • Robots and Information Technology

ZIH Corp, VeriFone Systems Inc., Motorola Mobility Inc., First Data Corporation, Wincor Nixdorf, Pricer, and Toshiba Corporation are some of the competitors in the global retail automation systems market.

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