Retail Automation Market Size to Grow by USD 8.80 billion

 The retail automation market size is estimated to grow by USD 8.80 billion from 2021 to 2026. Moreover, the growth momentum of the market will accelerate at a CAGR of 10.2% during this period. The market has been segmented by type (point-of-scale, barcode and RFD, camera, and others), end-user (supermarkets, hypermarkets, single item stores, fuel stations, and retail pharmacies), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

The high adoption of contactless payment solutions is driving the growth of the retail automation market. Mobile payment gateways, including Apple Pay and Samsung Pay, have made the process of paying bills easy. Hence, various retailers are adopting platforms such as NFC POS terminals, which facilitate mobile payments.

The high adoption of contactless EMV cards will also encourage the implementation of NFC POS terminals. The increasing need for faster checkouts at retail outlets, high adoption of EMV cards, effective information management among retailers, and the growth in focus toward secure payments are some of the factors that will contribute to the growth of the global retail automation market.

APAC will have the highest market share growth during the forecast period. The growth of the region will be driven by factors such as the growing level of urbanization and the increase in the disposable income of the people. Moreover, market growth in this region will be slower than the growth of the market in other regions. China and Japan are the key countries for the retail automation market in APAC.