NEW YORK, Aug. 14, 2017 /PRNewswire/ -- "Retail automation market to exhibit high growth between 2017 and 2023"
The retail automation market was valued at USD 9.19 billion in 2016 and is likely to grow at a CAGR of 10.96% between 2017 and 2023. The key factors driving the growth of the market include benefits of business optimization and reduced cost to retailers, increase in demand for retail automation product, and rising demands of customers for quality and fast service. On the other hand, growing dependency on Internet and electricity is restraining the growth of the retail automation market.
"Supermarkets to hold major share of retail automation market between 2017 and 2023"
The supermarket held the largest share of the retail automation market in 2016 followed by hypermarkets and single item stores. The supermarkets, hypermarkets, and single item stores are the large store formats due to which their requirement for automated technologies is usually more than other retail stores, leading to the high demand of these systems. The use of automated technologies in daily processes helps retailers to optimize their business, reduce the inventory costs, and enhance the customer experience.
"Retail automation market in APAC to grow at highest CAGR in coming years"
The retail automation market in APAC is expected to grow at the highest CAGR during the forecast period. China, Japan, and India are some of the major countries driving the growth of the retail market in APAC. The retail automation market in APAC is expected to grow significantly because of various factors such as rising employee wages and growth in employment. These factors drive the consumption of retail products, which is ultimately expected to boost the retail automation market in this region.
Breakdown of the profile of the primary participants:
- By Company Type: Tier 1 = 40%, Tier 2 = 35%, and Tier 3 = 25%
- By Designation: C-Level Executives = 35%, Directors = 25%, and Others = 40%
- By Region: North America = 45%, APAC = 30%, Europe = 20%, and RoW = 5%
The major key players operating in the retail automation market include Datalogic S.p.A (Italy), First Data Corporation (US), NCR Corporation (US), Fujitsu Limited (Japan), Toshiba Global Commerce Solutions Inc. (US), Honeywell Scanning and Mobility (US), KUKA AG (Germany), Wincor Nixdorf AG (Germany), Zebra Technologies Corporation (US), Pricer AB (Sweden), Posiflex Technology, Inc. (Taiwan), and E&K Automation GmbH (Germany).
The report covers the retail automation market segmented on the basis of type, implementation, end user, and geography. It also discusses the key drivers, restraints, opportunities, challenges, and burning issues pertaining to the market. The report gives a detailed view of the market across 4 main regions—North America, Europe, APAC, and RoW (South America, the Middle East, and Africa).
Reasons to Buy Report:
- This report includes the market statistics pertaining to type, implementation, end user, and geography.
- The major drivers, restraints, challenges, opportunities, and burning issues for the retail automation market have been detailed in this report.
- Illustrative segmentation, analysis, and forecast for markets based on type, implementation, end user, and geography have been conducted to give an overall view of the market.
- A detailed competitive landscape has been provided that includes key players, revenue of key players, and strategic developments, among others.
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