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The growing retail market and consumers’ need for more advanced services (such as easy access to services and products anytime and from anywhere) are the major growth drivers for the global retail automation systems market. To balance the market needs, retailers need advanced systems such as quick processing and result accuracy. The constant growth of self-checkout system and self-service machines such as kiosk is increasing the growth of the global market. The growth in population and increase in urbanization are some of the other factors, driving the growth of the global retail automation systems market.
Retail automation systems are the standalone self-service machineries located in areas experiencing high traffic such as malls, resorts, airports, and convenient stores. Consumers select products using a touch screen display, pay for purchases through a debit or credit card and then the product is dispensed, sometimes through an internal robotic arm in the machine. In retail, the automation booths are used for vending fresh foods, DVDs, gift cards, coffee, beauty products, coin counting as well as photography. Some of the self-service automated retail units accept debit and credit cards to hand out electronics. Automation controls the record flow of a departmental store, retail store, supermarket, or a mall. Retail automation provides automated kiosk machines and point of sale terminals, which consist of all the necessary technology, hardware as well as services.
The computer aided designing (CAD) technology is the largest segment in the retail automation systems market, due to its high tech applications. The demand for more convenient shopping is increasing, due to the increasing number of women in the global workforce and consumer perceptions of limited time. The demand for beauty sampling stalls is growing with a considerable rate, as they are favourable for both retailers and customers. As working women need to retain household management responsibilities, suitable alternatives for accomplishing conventional chores such as shopping are driving the growth of the global retail automation systems market. The retailers are able to increase their sales through self-automated beauty sampling kiosks and consumers prefer them, since the products can be tried before purchasing.
North America dominates the global market of retail automation systems. The operational difficulty to manage self-service machines and high dependence on power are some of the factors hindering the growth of the global retail automation systems market. The regular need for retailers to feed their products into the kiosks, sometimes leads to increase in waiting time for users which is challenging the growth of the market. Outerwall Inc. integrated Redbox Play Pass Loyalty Program, which amplified the customer engagement as well as its rental frequency in October 2014. Also in June 2015, AVT Inc., a retail automation systems company, announced the launch of a new Endcap retailer system, which can be used in retail locations for holding, display, and selling high value products safely. ZIH Corp, VeriFone Systems Inc., Motorola Mobility Inc., First Data Corporation, Wincor Nixdorf, Pricer, and Toshiba Corporation are some of the competitors in the global retail automation systems market.
Global Retail Automation Systems Market Segmentation:
By Point of Sale (POS) products
By Supply Chain Products