Positive Scope For Retail Automation Market In Middle East and Africa
The economy of the Middle East countries grew from 3% to more than 5% in 2012 and the inflation rate has remained relatively constant..
The economy of the Middle East countries grew from 3% to more than 5% in 2012 and the inflation rate has remained relatively constant. This gives the consumer more money in hand, allowing them to spend more on products from the markets. The purchase behavior and the lifestyle of the consumers here go hand in hand. Middle East has the highest GDP per capita among other regions, which is a clear indication that the consumers have more disposable income to spend on e-commerce retail, luxury retail and retail in stores.
Africa’s GDP on the other hand has gone up from mere 4.7% in 2013 to 5.2% in 2014. And, with an FDI growth of 16%, this number is bound to hit a $45 billion mark by the end of 2015, which shows a positive economic trend. Countries across Africa, from mineral-rich Sierra Leone and Congo to agrarian economies like Ethiopia and Rwanda, have shown growth across multiple macro-economic parameters. With inflation in the region going down from 10.7% in 2013 to 6.2% in 2014, domestic spending is on the rise.
It can clearly be seen that there has been a considerable amount of growth across the key economic sectors in this region. And, this has purely is been the result of the fueling demand for high quality materials handling products and services across the Middle East.
The key economic areas such as retail, FMCG, pharmaceuticals, automotive, oil & gas are in fact this region’s only sectors for a dedicated trade & networking event; networking events such as warehousing, intralogistics, freight and & cargo and finally, supply chain management.
As per Comtrade, the growing import-export figures as well as the growth in local manufacturing are an indication of an increasing logistics market size in the UAE. The same is to be expected in the Gulf’s retail sector. The expanding automotive material can also be seen as a really big opportunity for the material handling providers.
The sectors such as FMCG, pharmaceuticals, retail, automotive, oil & gas and logistics, rely heavily on materials handling equipment to help optimize the local productivity as well as manage and protect inventory/ products. By doing this, these sectors will be capable enough to put out their product in the market at their customers’ disposal.
The scope and demand for retail automation in the Middle East and Africa is expected to be indefinite in the years to come, given the ongoing growth of their multiple retail sectors.
Mordor Intelligence, keeping this in perspective, has studied the current market scenario across regions like North America, Asia Pacific, Middle East & Africa, Latin America and Europe, to understand the potential this region holds for the retail automation market. The study includes in depth analysis of the existing market players in each region along with the factors affecting the retail automation in the long run. The report has a five-year (2014-2019) forecasted data to give an overview of the potential investments that could be made in the retail automation market.
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