Retail Automation Market is Estimated to Reach USD 23,782.3 Million by 2022
September 13, 2017 --
According to the research report “Retail Automation Market: By Equipment (Vending Machine, Payment Terminal and Others); By Component (Hardware, Software); By End User (Food/Non-Food Services, General Merchandise and Others) and By Geography - Forecast (2017-2022)” published by IndustryARC, estimates the market to reach $23,782.3m by 2022.
Browse 28 Market Tables, 112 Figures spread through 133 slides and an in-depth TOC on “Retail Automation Market (2017 - 2022)” - http://industryarc.com/Report/15043/retail-automation-market.html
Retail Automation is considered to be a part of self-service and standalone kiosk which are implemented in heavily trafficked locations. Smart devices like vending machines, self-service kiosk and many other are implement on location such as airports, malls and resorts, department stores, restaurants and many more to automate the retail operation. Software installed in these machines is capable of automating the retail process including store merchandising, payment transaction process and back office procedure among others. In retail and healthcare sector, rising pressure to support the workforce operations in order to improve customer experiences has triggered the use of smart device-based solutionssuch as barcode scanner, smart card, RFID, kiosk and cash register. The key segmentations for retail automation market includes by equipment, by component, by end user vertical and by geography.
According to recent report by IndustryARC, the retail automation market is poised to grow at a CAGR of 6.6% to reach $23,782.3m by 2022. Enormous use of touch screen kiosk, tablets and smart phones at the point of sale has accelerated the growth of the market during the forecast period. These smart machines are used in food/non-food services, general merchandise, hospitality and few more. Food/non-food services industry which includes supermarkets, hypermarkets and convenience stores is the dominant industry vertical for retail automation market. Changing lifestyle and need for enhancing the customer experience stimulated the adoption of automated equipment in this industry.
The market has been segmented into Americas, Asia-Pacific (APAC), Europe and Rest of the World (RoW) on basis of geography. APAC has generated highest revenue in 2015 and will remain dominant in 2022. Growing deployment of department stores and retail stores has projected positive impact on APAC retail automation market.
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The Key Players in this Market with respect to vending machine Include:
- Sanden Vendo
- Fuji Electric
- N&W Global Vending
- Selecta Group
- Crane Co.
Sanden Vendo and Fuji Electric are the two major companies for retail automation market with respect to vending machine. Other companies predominant in retail automation market with respect to vending machine are N&W Global Vending, Selecta Group and Crane Co. They continue to hold major share in the market revenue as they are investing significantly on R&D and constantly innovating technologies. Product launches, mergers, acquisitions, partnership and collaboration are the crucial growth strategies adopted by the key players in the industry who are striving to increase their market share.
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