News • 04.02.2020

Retail automation market soaring to reach $23.58 billion by 2026

Drivers: need for enhanced business procedures and inventory management

Close-up: Several steel gear wheels mesh together
Source: © PantherMedia/Chalabala

A recent research report added by Big Market Research states that the global retail automation market is expected to reach 23.58 billion dollars by 2026 and grow at a substantial growth rate of 9.6 percent from 2019 to 2026.

The report explains the potential of the global retail automation industry and offers statistics and information on market dynamics, growth factors, major challenges, key drivers & restraints, and opportunities for the forecast period.

The report segments the global retail automation industry into type, implementation, end-user, and region. Based on type, the report classifies the market into Point-of-Sale (POS), barcode & RFID, electronic shelf label (ESL), camera, autonomous guided vehicle (AGV), and others. Based on implementation, the report bifurcates the market into in-store and warehouse. Based on end-user, the report divides the market into hypermarkets, supermarkets, single item stores, fuel stations, and retail pharmacies. Based on region, the report evaluates the market across North America, Europe, Asia-Pacific, and LAMEA. All these insights presented in the report offers detailed data about major drivers, restraints, and opportunities in the industry.

As per the report, the increase in the need to enhance business procedures and surge in the need for centralized monitoring & controlling platform for inventory management is likely to fuel the growth of the market and offer lucrative growth opportunity for the market players.

The report clearly indicates that the global retail automation industry has achieved substantial growth since 2019. This report is a great source of information offering answers to all the questions faced by industry shareholders such as manufacturers, partners, end-users, and investors. It helps in planning investments and capitalizing on market opportunities. Besides this, the report presents Porter's five forces analysis which helps in demonstrating the potency of the buyers and supplier in the industry.

Source: Big Market Research

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