Retail Automation Market is anticipated to hit $25.402 billion by 2023 at a CAGR of 6.6%
By Equipment (Vending Machine, POS, Self-Checkout, Others), By Component (Hardware (Smart Cart, Card Reader, RFID, etc.), Software); By End User Vertical (Food/Non-Food Services, General Merchandise, Hospitality, Others); By Geography - (2018-2023)”, the market is driven by the the growth of retail automation and the rising demand from end-users.
Retail Automation Market (2015 - 2023)”
APAC held the largest market share and growth rate in the Retail Automation Market
Asia Pacific region holds the largest market share and growth in the Retail Automation Market, and is anticipated to reach $10.52 billion by 2023 at a CAGR of 7.9%. Americas Retail Automation Market is mainly driven by the deployment of automated equipment to handle the flow of consumers which is primarily augmenting the market growth in the recent years. The key end users in this region include Food/Non-Food Service industry, General Merchandise, Hospitality, among others.
Selected Value Chain Analysis done in the full report
- The commercial value chain for retail automation equipment comprises of number of stakeholders.
- Direct-to-end-user and OEM / private label partnerships are the most common distribution routes.
- Tier 1 retail organizations most often seek a direct relationship with the self-service OEM supplier, who assumes project management ISV responsibilities.
- For these accounts, VARs and system integrators often play a key supporting role, ensuring that Sys. Local post sale commitments are met.
- IndustryARC expects partnerships with ISVs (independent software vendors) to increase as hardware suppliers look to provide their customers with best-in-class customizable software solutions, aiding in seamless integration with digital signage, mobile applications and End- Users in-store technologies.
- Various Industry Verticals such as Food/Non-Food Services, General Merchandise, Hospitality and others are the end users of the retail automation equipment.
Excerpts on Market Growth Factors
- Rising customer awareness along with robust support from stakeholders are the key drivers of the retail automation market.
- POS segment is expected to reach $5,749.9 million by 2022, growing at a CAGR of 3.8% over the forecast period.
- Food/Non-Food Services market held a major market share, which is estimated to reach $9,055.1 million by 2020. Emphasis to provide all the consumer requirements and needs under one roof stimulated the proliferation of supermarkets and hypermarkets, especially in the developed economies across the world.
- Americas region is expected to reach $7,969.8 million by 2022. North American consumers have adopted the trend of relying on automated products and services for business transactions, which made a sustaining impetus on retail automation market.
- Cased hole was the dominating segment by well type in Retail Automation market and is estimated to grow with 5.3% CAGR through 2022.
Key players of Retail Automation Market:
- Sanden Vendo and Fuji Electric are the two prominent market players in the vending machine market, and these two are the leading players of this market with 16.9% and 14.6%.
- N & W Global Vending captured 10.1% of the market share; Selecta Group has a market share of 8.62% from the overall market.
- Other players include N&W Global Vending, Selecta Group, Crane Co. etc.
- This market is still in the growth phase with the top 5 companies only accounting for 56.6% of the total market, and 43.4% constituted by the others players.
- Ingenico and Verifone are the two key market leaders in the payment terminals market and these two players are constituted with market share of 36% and 27.5% respectively.
- PAX Technology captured 9% of the market share, whereas ‘ATOS Worldline’ had a market share of 8.6% in 2015 from the overall market.
- NCR and Fujitsu are the two key market players in the self-checkout market and these two are the leading players for this market. NCR Company held 65.5% of the total market share.
- Fujitsu captured 11.1% of the market share, whereas Toshiba had a market share of 8.62% in 2015 from the overall market. Fujitsu offers various hardware, software and associated services related to ‘PoS’ that are easy to use and install.
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