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Retail Automation Market by POS Products: 2013-2018

Global retail automation market: $974 billion industry forecast in 2018


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2014-01-23 17:57:01 - Retail Automation Market by POS Products: 2013-2018 - a new market research report on companiesandmarkets.com

The global retail automation market is expected to grow at a CAGR of 13.09% between 2013 and 2018 so as to reach $973.67 billion in 2018. Key growth will be due to various factors such as increasing need for fast process completion, growing automation market, and the developing retail market. Retail automation is the latest trend in some of the major countries such as the U.S., Germany, Japan, the UK, and so on.

The global retail industry is developing at a high growth rate due to many reasons like increasing retailers´ investment in the retail sector, high demand from the customer, increasing population, and so on. Retailers require advanced and developed systems to meet current market needs; such as reducing the

 

 

operational costs for retail stores, obtaining accurate results during transactions and, fast processing in retailing. Retail automation, with its automated machines, is a solution for meeting all these needs.

Some of the major companies dominating the retail market are Verifone (U.S.), Pricer (Sweden), SES (France), Toshiba (U.S.), NCR (U.S.), First Data (U.S.), Zebra Technologies, Motorola, Casio, Posiflex (Taiwan), Wincor-Nixdorf (Germany), Eltrade (Bulgaria), Fujitsu (Japan), CTS (U.S.), and Ingenico (France).

Retail automation market is continuously growing with regards to new innovated products. Two-three decades ago, vending machine was the burning trend, which, today, has been replaced by the kiosk. Although kiosk is a famous product, majorly, in Americas, but other regions such as Europe, APAC, and ROW have also been increasing its consumption, of late. Various new products, such as the self-checkout system, have gained automation traction.

Customers are demanding privacy and sophistication in their shopping. Self-checkout system, with the privacy that it offers in terms of the checkout process, helps customers to experience a comfortable and safe purchase. The ´contactless card reader´ is the latest technology that has made the payment process, smooth and easy, with its high tech processing.

Europe has been increasing its foothold in retail automation as a result of the development in some of its major countries like Germany, the U.K., and France. At present, the APAC market is small, but is estimated to grow over the next 5-6 years. Countries such as Japan, China, and India will drive the automation sector with regards to the APAC retail market. ROW has been contributing a small share in the global market, but it is expected to show a minor growth, thanks to countries like Brazil.

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