Customer-facing technology market is set to witness steady growth during 2021-2031. Companies operating in the market are increasing their investments in customer facing technologies in order to better serve their customers.
As customers are more at ease while directly interacting with a digital interface, companies are integrating technologies along with a traditional advisor. Customer-facing technologies aid in creating contextual and relevant digital interactions in order to uplift customer experience.
What is Driving Demand for Customer-Facing Technology?
Growing demand for digital signage and mPOS happens to be one of the primary growth drivers of the customer-facing technology market. There has been an exponential rise in demand for digital visual merchandising, way finding, etc. Furthermore, there has been an upsurge in the demand for Mobile Point of Sale devices for accelerating transactions.
Companies operating in the market are implementing customer-facing technology in order to control the sensory experience of their customers, incorporating ideas in their minds, and gauging their behavioral trends.
Customer-facing technology involves customers at the point of making purchase decisions which is focused on driving its demand. Companies are utilizing customer facing technology as an effective data capturing tool for marketing initiatives such as surveys and loyalty schemes.
However, with the growing adoption of customer-facing devices, the issues of security and privacy are gaining greater importance. Security and privacy concerns happen to be one of the factors hampering the market growth.
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Digital Devices is Expected to Hold the Largest Share of the Customer-Facing Technology Market by Type
Digital devices include printers, tablets, digital signage, digital kiosks, multimedia displays, and other devices. Growing popularity of digital devices among consumers is one of the major factors influencing the market growth of customer facing technology. However, transactional devices are expected to grow at the highest CAGR over the forecast period. This is owing to the increasing demand for mobile payments and other mobile transactions.
US and Canada Customer-Facing Technology Demand Outlook
U.S. happens to be one of the largest markets for customer-facing technology across the globe. The growth in U.S. is attributed to the presence of established players such as NEC Display Solutions, Capgemini, and Diebold Nixdorf Incorporated, in the region.
Moreover, US happens to be the most rapidly changing and competitive market across the globe. Besides, the region is also anticipated to adopt new technologies at a faster pace as compared to other countries in the world.
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Europe Demand Outlook for Customer-Facing Technology
In Europe, the technologies that command the most investments are those related to customer-facing channels, such as self-service, and channel optimization. Furthermore, the rising need for customer-facing devices and services across different industry verticals in the countries like Germany, Italy, France, and UK in the Europe region is enabling the market for customer-facing technology to grow at a substantial rate over the forecast period.
Who are the Key Manufacturers and Suppliers of Customer-Facing Technology?
Some of the leading providers of customer-facing technology include
Samsung Electronics Co.Ltd.
Sony Corporation
LG Corporation
NEC Display Solutions
Center for Advancing Retail & Technology (CART)
Panasonic Corporation
Fabcon Inc.
Fujitsu Group
MobileDemand
L.C.
Capgemini
Diebold Nixdorf Incorporated and among others.
The market appears to be highly fragmented and established companies are focused on augmenting their product portfolio for customer-facing technologies.
By offering customer-facing services and features, these companies are connecting directly with shoppers in order to provide a richer and more seamless retail experiences for the customers. The companies operating in the market are focused on offering, innovative, differentiated, and interactive experience for customers in order to make shopping enhanced for the consumers in retail.
For instance, AT&T's flagship store on Michigan, features an internet enabled car that can be instructed to “hold calls” and provide trip information and car diagnostics. This helps in improving customer engagement and provides the company with the customer information. Interactive exhibits in the customer facing technology provide information about the customers. With the help of this data, the company can easily track the customers with most interaction and improve and adjust their exhibits content as per customer demand, thereby offering enhanced customer experience.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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