Knowledge Sourcing Intelligence announces the publication of a new report on “Retail Automation Market - Forecasts from 2020 to 2025” to their offering.
Increased ubiquitous adoption of automation, streamlining of the services, maintenance of accurate inventory, and enhancement of customer experience are a few of the prime factors that are estimated to drive the market growth.
As per the report, the market pertaining to the Retail Automation Market is expected to grow at a steady pace.
Due to the integration of a combination of digital kiosks, self-checkout systems, mobile devices, proximity beacons, and workforce and task management solutions by retailers around the world, the aspect of automation has emerged as an inseparable from the retail market. Thus, the emergence of retail automation and the plausible growth of in the next few years. While the aforementioned combination of aspects is at the forefront other aspects responsible to boost the market are the increasing incorporation of technology by a myriad of users Viz. automobile, convenience stores, food and beverage, fuel stations, healthcare & pharma industry, hypermarkets & supermarkets, hypermarkets, retail pharmacies, supermarkets, transportation, and logistics, among others. The growing trend of self-service that is being witnessed in various end-use service spouts like BFSI, airports, retail, health care points, retail food and beverage that aids in creating a new age facilitating enhanced productivity, increased convenience, and heightened efficiency that has created a synergistic effect that is benefitting both the retailers and consumers. From the perspective of retailers, the integration of retail automation is enabling themes to collect consumer data that further aids them to systematize their process and engage in hyper scaling leading to conditions conducive to the expansion of various manufacturing businesses to expand its operations.
On the other hand, the retail automation pertaining to the product segment of RFID and barcode is expected to occupy a major share of the market. The technology pertaining to RFID has given a competitive edge to retailers whereby they can provide services that are at par with online sellers as it aids in the facilitation of frequent inventory checks that translates to the accuracy of indenting thereby leading the optimal utilization of resources enabling seamless customer services. For example, recent partnership in June 2020, DENSO WAVE EUROPE, part of the Toyota group and specialist for modern handhelds and scanners and RFKeeper a leading software provider to aid retailers to become omnichannel providers. Initially, both entities had intended the enhancements of customer experience in retail simultaneously to solve the problems in which the retail segment is fraught with Viz. losses that reach trillion so dollars resulting from under/overstock along with more losses ta are caused by supply chain losses leading to cumulative shrinkage of herculean proportions. RFID software by RFKeeper can generate valuable data viz. the number of items that have been looked through, conversion rates per item, and consumer behaviors.
Thus, under this partnership, ENSO and RFKeeper combine SP1 RFID reader from DENSO, the source & tagging platform from RFKeeper, a driver-less smart POS detacher as well as hard and soft tags. Moreover, by integrating applications pertaining to cloud and mobile applications from RFKeeper, retailers can expedite the satisfactory digitization of their inventory management system. The other advantage of the solution that has been brought to the fore by such a partnership is empowerment through facilitating greater visibility resulting in the minimization supply chain errors ultimately leading to greater customer experience as well as sustainable management of the supply chain. Moreover, due to the growing preference of self-checkout terminals that led to the minimization of labor cost and speedier processes resulting in enhanced customer experience also have led to the adoption of RFID which is found extensively in stores pertaining to home improvement, supermarkets which have high consumer acceptance. As for collaborating entities, a modular plug & play inventory management solution is being provided by the partnership whereby the entire range of the supply chain from factory to store has been covered. Moreover scanning 700 tags per second is not the only capability of the SP1 RFID scanner from DENSO but also enables high-speed reading at distances to the tune of 13 meters, which can cover an area of about 530 sq. meters. Subsequently, with a simple Bluetooth pairing with a mobile computer, the captured data can be transferred.
As a part of the report, the major players operating in the retail automation market, which have been covered are Filuet Group, Datalogic S.p.A, First Data Corporation, Honeywell International Inc., RapidPricer B.V., Fujitsu Ltd., NCR Corporation, Toshiba Global Commerce Solution, Diebold Nixdorf, Incorporated, ECR Software Corporation,andXerox Corporation
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/retail-automation-market
This report segmented the retail automation market on the basis following terms: