Retail Automation Market Size, Analysis, and Forecast Report: 2014-2020

Retail is a growing & continuously developing industry. Customer needs are highly volatile so major concern for retail is to provide value added services to the customers at the same time minimizing operational cost so as to gain cost advantage, this can be achieved by providing automated machine solutions. Retail Automated solutions provide comfortable, flexible and user friendly solutions to customers as well as retailers.

Regionally, North America is the market leader in retail automation and holds largest part of market share, it is because of increasing income & purchasing power of customers and strong economic condition of the region. Out of the total retail market food and non-food vertical of retail automation market shows largest growth in North America due to increasing rely on retail automated product, where as in coming years Europe region is expected to grow at very fast rate in retail automation market, it is because of increasing retail chains and their product lines in Europe. Retail automation benefited the overall retail market by improvement in service quality, productivity and output and reduction in cost. On the other hand it creates disadvantage for labours because of loss of job. Also Automation in any industry requires high capital investment which is another disadvantage.

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Economic crises in America and Europe affected the market, both customers as well as investors were uncertain about the future of the market. Increased unemployment level & reduction in the disposable income of people affected retail market very badly. But now situation is different, economic conditions are improved and there is financial stability in market which results into decrease in unemployment level and increase in disposable income of people. In case of Europe, demand differs from country to country. In countries like Italy, Portugal, Greece and Spain, where still economic conditions are unstable, have lesser demand for products on the other hand in the countries like Turkey, Poland, Russia demand is increasing because of improvement in financial condition and increasing numbers of hypermarkets, shopping centres and supermarkets. Worldwide growth of retail industry, growing necessities of customers, business process optimization, reduced cost to retailers and increasing demand of retail automated products are acting as driving factors for growth of retail automation market where as continuous supervision of Kiosks, high dependence on electricity & internet act as restraint for market. Also some customers finds inconvenience in operating self-service system.

Market segmentation for Retail Automation is done on the basis of geography, type and product. By geography North America is sub-segmented into United States, Canada & others and Europe is sub-segmented into Spain, UK, Germany, France & others. By operator type market is sub segmented into human Operated terminals and unattended terminals. By product market is further sub segmented as currency counter, cash register, bill printer, barcode reader, weight Scale, card reader, self-checkout system and kiosks/vending machine.

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Future of retail automation market is very attractive because of high growth of global retail market & favourable customer response and their growing demands. Various big retail companies like Metro, Tesco, Walmart and Kroger playing significant role in growth of this market. This market growth encouraging retail giants to invest heavily on automation products & services which results into cost advantage & output efficiency. Some of the top players in retail automation solutions are, Honeywell, Seiko Epson, First Data Corporation, Fujitsu, Motorola, Wincor Nixdorf, Siemens, NCR Corporation, Casio, Toshiba etc.

Current and Projected Data-Driven Retail Solution Market size in terms of volume and value 2015-2025 by FMI Estimate

Global Data-Driven Retail Solution Market: Overview
Data-driven retail solution helps retailers to identify and understand consumer by collecting customer’s information such as profile attributes, mode of transaction and behavior etc., from customer relationship management, point-of-sale, e-commerce, navigation logs and social media such as Facebook, Twitter and Pinterest etc. It automates the industry insights about loyal customer, purchases behaviors, audience behaviors, customer segments, and customer journey by analyzing the collected customer information. Data-driven retail solutions enable retailers to integrate their marketing strategies or program with the data-driven solution in order to personalize the purchase experience, engage with each customer specifically, and simplify the purchase process. Data-driven solution’s multi-funnel tracking feature provides easy and actionable sales analytics dashboards which enable retailers to improve the efficiency and coordination of multi-funnel strategy and multi-channel respectively.

Global Data-Driven Retail Solution Market: Segmentation
Global Data-Driven Retail Solution market is classified into solution, deployment model, service, and region.The global data-driven retail solution market can be segmented on the basis of solution which includes retail customer intelligence, media intelligence, customer relationship management, collaboration tools and other solutions. Deployment model includes on-premise and cloud-based. On the basis of service the market can be segmented into consulting, implementation service and integration. Region wise, global data-driven retail solution market is segmented into North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific Excluding Japan (APEJ), and Middle East and Africa (MEA). At present, North America is dominating the market followed by Western Europe. Among all the regions, APEJ is expected to create huge market opportunity for major players operating in the data-driven retail market during the forecast period.

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Global Data-Driven Retail Solution Market: Drivers
The global data-driven retail solution market is majorly driven by the increased awareness among retailers regarding the benefits of implementation of cloud-based customer & market intelligence solutions and services for business operations. Cloud-based solutions and services enable retailer to manage and control the cost associated with the IT infrastructure. In addition, increasing popularity of software as a service (Saas), cloud computing and big-data analytics in order to improve business operations, sped up information retrieval, and facilitate work are projected to increase the demand for data-driven solution in retail sector across globe.

Global Data-Driven Retail Solution Market: Restraints
While studying the data-driven retail solution market we came across some of the restraints that are limiting the digitization of retail sector worldwide. Some of them are lack of awareness across the sector especially in emerging markets such as India, China, Brazil and Argentina, regarding adoption of digital retail solutions and services for enhancing business operations and high initial cost associated with the implementation of these solutions and services are hindering the growth of data-driven retail solution market.

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Global Data-Driven Retail Solution Market: Competitive Landscape
Key players in the global data-driven retail solution market focus on strategic alliances with industry experts in order to improve their offerings and strengthen position in digital customer identity management field. For example, Silentale signed a partnership agreement with Gigya Inc. in order to enhance its social media capabilities by integrating the digital platforms of Silentale and Gigya.

Global Data-Driven Retail Solution Market: Key Players
Some of the major players identified in the global data-driven retail solution market are Tata Consultancy Services Limited, Oracle Corporation, Microsoft Corporation, Neustar Inc., Infogroup, and Silentale etc.