Retail Automation to Disrupt the FMCG and Hospitality Industries
In this report, Future Market Insights has analysed the global retail automation market over a 10 year study period from 2017 to 2027 and thrown light on the key factors likely to impact market revenue growth during the period of assessment.
According to Future Market Insights’ forecast, the global retail automation market is estimated to be valued at US$ 9,846.0 Mn by the end of 2017 and this is expected to increase to US$ 29,825.4 Mn by the end of the forecast period in 2027. This reflects a CAGR of 11.7% in terms of value.
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Integration of retail automation products with virtual assistant services: Advancements in technology are encouraging companies in the global retail automation market to integrate retail automation products with intelligent personal assistant services to provide consumers with more power to control their shopping needs. This integration of retail automation and virtual assistant services will facilitate faster checkouts using simple voice commands and a secure PIN.
Machine Learning with Artificial Intelligence to bridge gaps in retail store functions: Machine learning coupled with artificial intelligence will create a big impact on retail storefronts, as artificial intelligence is capable of interpreting customer behavioural data, lifecycle stages, and psychographic indicators such as emotional triggers to help brands engage with their target audience in a more meaningful and personalised manner.
Augmented Reality: Businesses can use Augmented Reality to provide a different level of consumer-product interaction through an immersive experience.
The global retail automation market is segmented on the basis of product type into Manned POS Terminal and Unattended Terminals. In terms of revenue, the Manned POS Terminal segment is projected to be the most attractive and dominant segment in the global retail automation market during the forecast period, with 56.5% revenue share in 2016.
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The global retail automation market is segmented on the basis of industry into FMCG, Health and Personal Care, Apparel and Footwear, Hospitality, Consumer Electronics, Travel and Logistics, Oil & Gas, and Others. FMCG is the dominant segment with an estimated market revenue of about US$ 2 Bn by 2017 end and likely to increase to US$ 6.4 Bn by the end of 2027.
Future Market Insights tracks the performance of the global retail automation market across the key geographies of North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding japan, Japan, and the Middle East and Africa. North America is expected to be the dominant regional market with a value share anticipated to increase 2.9X between 2017 and 2027.
The report profiles some of the leading players operating in the global retail automation market. Companies featured include Diebold Nixdorf Incorporated, NCR Corporation, Datalogic S.p.A., FUJITSU, First Data Corporation, Toshiba Corporation, Verifone, Posiflex Technology, Inc, Ingenico Group, and Honeywell International Inc.
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
FMI’s team of over 200 research analysts provides market intelligence at global, regional, and country level. Our analysts are committed to provide independent insights, relying on our cognitive defusion training module, which conditions them to look at data objectively and unbiasedly.
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