The European Retail Automation Market is valued at USD 39.39 billion in 2016 and is expected to reach a value of USD 87.97 billion by the end of 2022, growing at a projected CAGR of 14.33% during the forecast period of 2017 – 2022.
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With more than 11% of the European Union's (EU) GDP contribution, retail and wholesale services are key for the EU's economy. The 6 million companies present in the region provide around 33 million jobs and in the last few years, the sector has seen a lot of changes.
Due to larger vertical integration, the retailers have enjoyed more efficient distribution and logistics with international retailers who have been keen to expand their presence in Europe.
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However, they are more cautious and selective in doing so. Cities like London, Paris, Moscow, Milan and Madrid flock lot of tourists and are high on the list of luxury brands.
This enables the retail automation market to grow at a steady pace to help the retail industry in the region.
Automation will be playing a major part in the growth of the retail industry, since, as they grow they push retailers to invest in automation products and services as it helps them to cut down costs and boost efficiency. These solutions also enhance the customer experience as well as the efficiency of retail store employees.
There are various automated products available in the retail automation market like a barcode reader, currency counter, bill printer, cash register, kiosks, which are enhancing the retailing process.
Europe retail automation market report talks about the key factors that contribute to the growth of the market, discussing the technology overview and the trends, providing the recent developments and the products available in the market. To discuss this, the market has been segmented based on the types of category, that is, either the one with partial or manual intervention or the one that is completely automated, like that of unattended terminals, along with which it is also segmented based on products like barcode reader market, weighing scale market, currency counter market, bill printer market, cash register market, card reader market, kiosks market, self-checkout systems market among others.
It also provides country-specific forecasts of the market, giving a detailed insight into the market's performance.
Some of the major vendors manufacturing retail automation solutions like Siemens, Fujitsu, Casio, Motorola, Honeywell, Toshiba, Seiko Epson, NCR Corporation, First Data Corporation and Wincor Nixdorf have been studied and their strategies analyzed.
Drivers of Research Report:
- Factors driving this market are:
- Increasing retail stores
- Cost pressures and business process optimization
- Growth in retail industry worldwide
Restraints of Research Report
- Factors restraining this market are:
- Constant watch required over kiosks
- Self-service systems cause are inconvenient to some customers
What the report offers
- Market definition for Europe retail automation market along with identification of key drivers and restraints for the market.
- Market analysis for Europe retail automation market, with country-specific assessments and competition analysis on a global and regional scale.
- Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market on a global and regional scale.
- Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share.
- Identification and analysis of the macro and micro factors that affect the Europe retail automation market on both global and regional scale.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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