Overview of the global intelligent vending machine market
Technavio’s market research analyst predicts the global intelligent vending machine market to grow exponentially at a CAGR of above 38% by 2021. One of the primary drivers for this market is the rise in the number of cashless vending machines. This rise is due to the growing customer preference towards paying for purchases through mobile devices or credit or debit cards than by cash. To comply with this customer preference and increase sales revenue, companies are installing vending machines that accept credit or debit cards and mobile payment options. Further, the emergence of NFC technology has propelled the growth of cashless vending machines. Since consumers always carry their smart devices (smartphones, phablets, and tablets), this growing adoption of NFC technology is providing significant convenience to the user for operating cashless vending machines. Also, secure payment gateways and increased efficiency of network operators will augment the growth of the intelligent vending machines market in the coming years.
In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. The Americas made a significant contribution to the total market revenue due to the increasing popularity and awareness of connected vending machines in the region. Better technical understanding of a large segment of the population and high smartphone penetration in the Americas are driving the use of connected vending machines in this region, particularly at retail outlets, hospitals, and universities. Additionally, the need for convenient reach to necessary products in stores, offices
Overview of the global retail self-checkout terminals market
Market research analysts at Technavio predict that the global retail self-checkout terminals market will grow steadily during the next four years and post a CAGR of almost 18% by 2021. This market research analysis identifies the growth of the retail industry as one of the primary growth factors for this market. Major developing countries in APAC, such as India and China, are witnessing a rapid increase in the number of retail stores. With customer satisfaction becoming one of the major concerns, these retail stores will start installing self-checkout systems to facilitate faster checkout. One of the major vendors CBE has already installed self-checkout terminals in several independent retail stores in Ireland and the UK. Moreover, countries in the APAC and Europe are also registering a constant rise in the number of convenience stores that extensively use self-service checkout systems, which will consequently drive the growth of the market.
The rise in demand for customized self-checkout terminals will be one of the major trends that will gain traction in this market in the coming years. With the increasing installation of self-checkout machines, the market will soon witness the demand for customized self-checkout terminals that will cater to the needs of particular businesses. Since these terminals are easy to upgrade, vendors will witness a significant reduction in maintenance costs. Vendors such as Diebold and NCR have already started providing customized self-service checkout terminals that can be personalized to the customer’s requirements.
Competitive landscape and key vendors
The global retail self-checkout terminals market is
Overview of the global electronic shelf labels (ESL) market
Technavio’s market research analyst predicts the global electronic shelf labels (ESL) market to grow at a CAGR of 14% during the forecast period. ESL systems in retail stores reduce the labor expenses significantly and aid in increasing the retailer's profit margin. These labels eliminate the requirement for staff to manually change pricing labels on store shelves as the product pricing on all ESL modules can be automatically updated. ESL systems have brought about significant changes to stores and have helped enhance the overall management process. ESLs have emerged as an alternative to the labor-intensive processes in retail stores and have also limited the need to print, sort, or replace paper labels during price changes, enabling labor and operational savings in stores. ESLs allow retailers to have complete control over price adjustments and ensure that the in-store prices always match the back-end database and the price at the checkout. ESLs not only increase accuracy and enhance customer satisfaction and loyalty but also reduce delays or queries about product pricing and loss of profits associated with human errors.
In terms of geographical segmentation, EMEA dominated the global ESL market in 2016 and will continue to maintain the lead during the forecast period. Much of the region’s growth can be attributed to the growth of hypermarkets such as Carrefour, Metro, and Tesco. The market is expected to witness massive demand for ESLs from retailers because ESL minimizes labor costs and augments the accuracy of price labeling. Moreover, product innovations such as NFC labels have prompted the replacement of the installed base and are attracting new customers, which is further fueling the demand
Outlook of the online home decor market
Technavio’s market research analysts have predicted the global online home décor market to grow tremendously at a CAGR of more than 19% over the forecast period. With the increasing penetration of smartphones and other smart devices, the market for online home décor will have a positive outlook over the forecast period. In 2015, nearly 28% of the global population was using smartphones, which in turn had a significant impact on the global e-commerce industry. Online shopping allows customers to check and buy products online, even when they are on the move. This feature compelled a large number of vendors to conduct business operations online. Moreover, since most vendors in the market space provide hassle-free home delivery options to customers, it will lead to the growth of this market over the next few years.
In this market report, the analysts have estimated factor, such as the increasing demand for eco-friendly furnishings, to aid in the growth of this market over the forecast period. Growing awareness of the effects of deforestation on the climate and the detrimental effects of toxic finishes in the air inside homes have compelled many furniture manufacturers to adopt environmentally friendly products. This has led to the manufacturers offering a vast range of aesthetic furniture constructed using bamboo, which is robust and more durable than wooden furniture. This change in the consumer’s preference towards eco-friendly furnishings will lead to the strong growth of this market over the next four years.
Product-based segmentation of online home décor market
- Home furniture
- Home furnishings
In 2015, the home furniture segment dominated the market and accounted for more than 47% of the market share in terms of revenue. Factors such as the availability of detailed
Overview of the travel services market in India
The travel services market in India entails mainly six type of services and both online and offline modes of booking. The travel services market in India is predicted to grow at a CAGR of nearly 15% during the forecast period.
Increased disposable incomes, changing lifestyles, growth in urbanization are some of the reasons for the progress in the market. Another major driver for the travel market in India is the growing sales during festive seasons. Due to the intense competition, many of the players in the aviation industry have been offering enormously discounted fares. For instance, in 2014, SpiceJet announced lucrative one-way domestic fares during the festive seasons, ranging from $15 to $40, to capture new customers.
Competitive landscape and key vendors
The market in India is witnessing intense competition among the top players on the basis of pricing strategies and product differentiation. Therefore, to stay competitive, the leading players are increasingly striving to provide innovative services to the consumers within this market. The report provides a comprehensive analysis of the leading vendors and discusses the corresponding vendor landscape in detail.
The top 5 vendors in the market are: -
- Cox & Kings
- Thomas Cook
Other prominent vendors in the market include Akbar Travels, Busindia, Cleartrip, Easy Cabs, Expedia, Goibibo, IRCTC, Ola, and Uber.
Segmentation by mode of booking of the travel services market in India
The offline segment dominated the travel services
Overview of the duty-free retailing market
Technavio’s research analyst predicts the global duty-free retailing market to grow steadily at a CAGR of around 9% during the forecast period. The increase in international travelers is the primary driver for the growth of this market. The number of foreign travelers during 2014 was around 1 billion, with Europe emerging as the most popular destination.
However, the restrictions on the baggage weight is expected to deter the growth of this market during the forecast period. For instance, in the economy class of Lufthansa, passengers are only allowed one hand baggage of up to 8 kilos. This restriction creates a loss of opportunity for products like alcohol that is heavier than any other product group.
Product segmentation and analysis of the duty-free retailing market
- Fashion, accessories and hard luxury
- Perfumes and cosmetics
- Wines and spirits
- Confectionary and fine food
The fashion, accessories, and hard luxury segment dominated the duty-free retailing market during 2014 with a market share of around 32%. This segment is anticipated to retain its market dominance until the end of 2019, growing at a rate of 11%. Precious jewelry, briefcases, handbags, and shoes are the key driving products in this category. Some of the popular brands in this segment are Michael Kors, Armani, Fossil, Gucci, and Burberry.
Segmentation by distribution channel and analysis of the duty-free retailing market
- Ports and railway stations
- Airlines and ferries
Airports contributed 59% of the global market revenue during 2014 and is expected to retain its market leadership until the end of 2019. For instance, during 2014, Shanghai Pudong International Airport increased its Sunrise Duty-Free retail space by
Retail systems mainly refer to digital signage, kiosks, point-of-sale systems, and store mobile devices. One of the current challenges is to develop retail-optimized mobile devices that can provide a solid return on investment in the store environment.
Technavio follows an in-depth research approach and conducts comprehensive industry analysis to provide insights on IT retail systems, mobile point of sale, retail computer systems, retail security systems, retail data systems, retail display systems, retail information systems, and retail management systems.