More than 4.2 billion people live in the Asia-Pacific region and population continues to expand drastically, along with the rising incomes and increasing attraction to modern western lifestyle. These conditions, along with the fact that Asia-Pacific is the fastest-growing economy in the world with GDP growth for 2016-2017 forecasted to be more than 5%, offer favorable conditions for the growth of the retail industry in this region. Even after the sluggish growth, the retail sales in China grew by 13%, mostly characterized by the growth in the convenience stores, and it continues to be the lucrative market that no retailer wants to ignore. Younger population and high per capita income is driving the Malaysian retail industry, which is eyed by international retailers due to favorable regulations by the government. This growth in the retail industry will provide impetus to the growth of retail automation in the region.
Asia-Pacific Retail Automation Market-Market Dynamics
Automation will play a major part in the growth of the retail industry since the growth will 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 the barcode reader, currency counter, bill printer, cash register, and kiosks.
Factors driving this market are:
Factors restraining this market are:
The Asia-Pacific 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 types, that is, either the one with partial or manual intervention or the ones that are completely automated like those of unattended terminals. The market 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. The report 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 are:
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