Retail Automation Market Disrupted by the Robotic Process Automation

Posted by industryarc on August 9th, 2019

A newly released IndustryARC report estimates the global retail automation market value at .37 billion in the year 2018, and projects the opportunities to grow at a profitable CAGR of 8.60% throughout the forecast period, that is from 2019 to 2025. It resembles the constant evolution of retail shopping experience because of the integration of artificial intelligence (AI) and automation.

The report is titled: “Retail Automation Market: By Equipment (Vending Machine, Payment Terminal, Point-of-Sale System, Interactive Kiosk, Self-Checkout, Electronics Shelf Labels, Automated Guided Vehicle, Automatic Storage & Retrieval System, Automated Conveyor and Cameras); By Component (Hardware and Software); By Type (In-Store and Warehouse); By End-User (Food/Non-Food Services, General Merchandise, Hospitality, ); By Geography – Forecast (2019-2025).” The report provides an in-depth assessment of competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, and strategic analysis to scale the impact forces and potential opportunities of the retail automation market.  

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Global Retail Automation Market: Demand Analysis

Automated retail deals with the intelligent process automation which is helpful in speeding up the order processing, and also in handling starting from order to cash process. It is estimated that 2.25 million retail jobs are at risk by 2030 as the robots are becoming the future workers in the retail industry to take care of warehouse operations, to handle heavy lifting, and also in moving of inventory. SSI Schaefers Schaefer Case Picking (SCP) system and Witrons Order Picking Machinery are the most customizable and automated picking solutions involved in warehouse automation. The SCP uses a computer vision system instead of barcode and RFID to identify the things in a retail shop. Vending machine, and a point of sale system are the majorly used equipment in the retail automation.

Global Retail Automation Market: Leading Segments

More than half of the repeatable work of food service workers can be automated, and also the food preparation jobs will be automated by 2030 according to the analysis of the IndustryARC analyst. Seeping of the automation in the restaurant industry is influencing the Food/Non-food service industry to grow at a progressive CAGR of 8.80% over the forecast period 2019-2025.

The modern world is slated with automation far and wide. Hangzhou Wahaha Group acquired a vending machine company and got recognized as the largest one in automated retailing operations of China. Growing usage of AI-enabled chatbots by retailers in China coupled with trails for replacing the human by robots by Nestle in Japan contributed to the growth of retail automation in APAC. Thus, APAC held a dominating regional share which accounts for 40.16% in 2018.

Global Retail Automation Market: Disruptive Trends

Inventory, orders, purchasing, and accounting are the key retail operations which are automated using retail automation software. It increases the productivity and reduces the cost to customers who are accessing for a better shopping experience.

Retail automation through AI and IoT technologies improves the return on investment by reducing the current operational expenses.

Software-based automation is the glue which coordinates and holds everything by retailers in their physical stores and competing with the established e-commerce today.

Chatbots, interactive robots, LoweBot an in-store robot are playing a significant role in the retail industry and more useful for store managers to manage efficient inventory tracking. Thus automation act as a way forward for retailers.

Increasing usage of robotic process automation by retailers not only to answer customer queries but also to make transactions as well.

Global Retail Automation Market: Competitive Landscape

Some of the key players which are holding the largest market share in the global retail automation market is noted as SandenVendo, Fuji Electric, N&W Global Vending, Selecta Group, Crane Co., Ingenico, Verifine, PAX Technology, ATOS worldline, and Castles Technology.

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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.