Retail Automation Market by Product, Import, Export and Consumption Forecast & Regional Analysis

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18th September: Rapid Growth of Retailing Sector can be attributed to growing consumer demand for quality service as well as reduction in variable cost for retailers. Increasing global awareness regarding wireless technology and its integration with automated retail is presumed to boost retail automation industry over the forecast period.


Retail automation comprises self-service and standalone stalls in busy locations such as malls, airports and convenience stores. With the help of touch-screen interface, customers are able to select products, pay for purchases using a debit or a credit card. For instance, Best Buy Express has installed vending machines at international airports that enable automated shopping of consumer electronics. The vending machines hold bottled drinks, fast food products, candies and other products. The system requires low maintenance costs, which are expected to contribute substantially towards market growth over the forecast period.
Automated retail’s application verticals include outdoor payment terminals, petroleum retailing, RFID tag reader, and outdoor thermal printer. The global industry can be segmented on the basis of product and industry verticals. Segmentation on the basis of product includes physical electronic POS and unattended terminals. Physical electronic enables recording, tracking, processing credit and debit cards, as well as managing inventory. Self-checkout systems and vending machines are a part of the unattended terminal. Industry segmentation on the basis of industry verticals includes oil & gas, health and personal care, food and non-food, hospitality, and transportation, and logistics.
The industry has witnessed sharp growth during the past few years as it reduces labor costs associated with retailing. Implementation of automated retailing enables companies to forecast demands based on sales figures generated, in order to reduce the labor cost and minimize costs across the value chain. The machine captures customer’s feedback by prompting after-sale feedback on the screen as soon as the product is dispensed out of the machine. The system helps to optimize profitability, which is presumed to drive the industry growth over the next seven years. Automated retailing enables optimized profitability as it incorporates data mining, which discovers patterns in large data sets and thereby helps retailers to forecast demands, manage inventory, track stocks online, and generate periodic cash reports.
Automated retailing is expected to witness significant growth over the forecast period as it enhances customer satisfaction and provides convenience to customers by preventing formation of long queues for purchase. The system facilitates customers with 24/7 access to products that can be purchased irrespective of place and time constraints. Integration of automated retailing systems with innovative technologies, such as Big Data Intelligence, is anticipated to drive market growth over the forecast period. It enables companies to retain customers’ data and utilize it for data analysis in order to improve the company’s sales and marketing strategies. However, lack of technical knowledge among customers is expected to challenge market growth, especially in regions with slow adoption rate of innovative technologies.
Honeywell commercializes an automated fuel retailing system, which provides various automated petroleum retailing services to the customers, and reduces supply chain issues such as inventory management .The product’s retailing services include RFID attendant tagging, automated fuel dispensing, bill printing at the isle, tank inventory management, dry stock sale and accounting, dynamic centralized pricing and video surveillance. 

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