The retail automation market is expected to grow at a CAGR of 10.96% between 2017 and 2023 to be valued at USD 18.99 Billion by 2023.
The growth of this market is being propelled by the growing deployment of self-automated technologies by retail end users such as supermarkets, hypermarkets, and single item stores. Implementation of retail technologies helps retailers to enhance the shopping experience for customers by reducing the checkout time and providing more personalized services at the stores. Ability to help retailers to reduce the operational cost of the stores and tackle with labor shortage issues is a significant factor that is driving the retail automation market.
Datalogic S.p.A. (Italy) is one of the leading players in the retail automation market. The company intends to follow various strategies to stay ahead in the market competition. The company plans to focus on constant product and process innovation to meet the market and customer needs. The technology used in product and process innovation is one of the essential drivers for the growth of the company. The company generates high revenues from Europe.
The company strives to retain its top position in the retail automation market through the strategy of product launches. In January 2017, it launched the various retail solutions such as Magellan 3400VSi scanner, Magellan 3500HSi scanner, DLR-BT001 RFID pocket reader with Bluetoothwireless technology, DLR-TL001 low-cost temperature logger, and DLR-DK001 desktop UHF RFID reader at Retail Big Show 2017 held in New York.
Benefits of Business Optimization and Reduced Cost to Retailers
Rising Demand for Quality and Fast Services
Increased Demand for Retail Automation Products
Dependency on the Internet and Electricity
High Growth Potential in Emerging Economies
Adoption of New Retail Automation Products
Emergence of Augmented Reality and Virtual Reality in Retail