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Top Insights on the Retail Self-scanning Solutions Market| Technavio

Top Insights on the Retail Self-scanning Solutions Market| Technavio

LONDON--(BUSINESS WIRE)--Apr 30, 2018-- market research analysts forecast the to grow at a CAGR of almost 19% during the period 2018-2022, according to their latest report.

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Technavio has published a new market research report on the global retail self-scanning solutions market from 2018-2022. (Graphic: Business Wire)

Increased number of working women resulting in an increase in voluntary spending is one of the major trends being witnessed in the market. As more women are choosing full-time careers, working longer hours, or pursuing higher educational qualifications, the number of working women, particularly in developing nations, has increased substantially. This has also strengthened their purchasing power and resulted in the creation of women-specific retail formats and products. With the rise in income, women spend voluntarily, which further helps retailers earn more revenue. Owing to long working hours, standing in queues can also become tiresome and time-consuming. Thus, it will further help global retail self-scanning market grow as more retailers will opt for self-scanning solutions during the forecast period.

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In this report, Technavio analysts highlight the growth in the retail industry as a key factor contributing to the growth of the global market:

Growth in the retail industry

The increase in the number of retail outlets across the globe is driving the self-scanning solutions market. Major retailers are expanding their presence in Africa and APAC to increase their reach and market shares. The adoption of self-scanning solutions, particularly in the retail industry, has been increasing at a rapid rate. Furthermore, countries in APAC such as India and China are witnessing rapid growth in the number of modern retail formats.

According to a senior analyst at Technavio for , “A major vendor has introduced a mobile application that lets shoppers scan the barcodes of products, which can be added to their shopping list. This adds the products to the baskets and lets customers make payments at the end through mobile applications through net banking or debit or credit cards.”

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Global retail self-scanning solutions market segmentation

This market research report segments the global market into the following end-users (hypermarkets, supermarkets, convenience stores, and clubhouse stores and others) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The hypermarkets, supermarkets, convenience stores, and clubhouse stores segment held the largest market share in 2017, accounting for more than 83% of the market. This end-user segment is expected to dominate the market throughout the forecast period.

EMEA was the leading region for the global retail self-scanning solutions market in 2017, accounting for a market share of over 59%. This region is anticipated to witness steady growth during the forecast period.

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is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20180430005813/en/

CONTACT: Technavio Research

Jesse Maida

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UK: +44 203 893 3200

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KEYWORD:

INDUSTRY KEYWORD: OTHER CONSUMER TECHNOLOGY ONLINE RETAIL OTHER TECHNOLOGY RETAIL OTHER RETAIL CONSUMER

SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 04/30/2018 10:18 AM/DISC: 04/30/2018 10:18 AM

http://www.businesswire.com/news/home/20180430005813/en


Updated : 2021-05-08 05:56 GMT+08:00