Retail Automation Market Overview, Forecast And Trends 2024-2033

Overview and Scope

Retail automation refers to the use of innovative tools and technology to improve processes and ensure efficiency in retail operations. It encompasses a wide range of technologies and solutions that streamline standard operations, such as inventory management, point-of-sale (POS) systems, ordering software, and warehouse management solutions.

Sizing and Forecast

The retail automation market size has grown rapidly in recent years. It will grow from $17.82 billion in 2023 to $20.07 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to competitive pressures, supply chain complexity, e-commerce growth, rising labor costs, changing consumer behavior.

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Segmentation & Regional Insights

The retail automation market covered in this report is segmented –

1) By Product: Point-Of-Sale (POS), RFID And Barcode, Camera, Electronic Shelf Label, Warehouse Robotics, Other Products

2) By Implementation: In-Store, Warehouse

3) By End-Use: Hypermarkets, Single Item Stores, Supermarkets, Fuel Stations, Retail Pharmacies, Other End-Uses

North America was the largest region in the retail automation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The rising consumer expectations for faster and seamless shopping expected to propel the growth of the retail automation market going forward. Faster and seamless shopping refers to the entail’s swift transactions, streamlined processes, and minimal friction for customers, including quick checkouts, easy navigation, access to product details, and seamless payments. Faster and seamless shopping accelerates growth in the retail automation market through enhanced customer satisfaction, streamlined processes, and data-driven optimization, fostering innovation and expansion. Retail automation uses technology to streamline and expedite the shopping experience, enhancing efficiency and convenience for consumers through quicker transactions and seamless processes. For instance, in 2022, according to Ecommerce Europe, a UK-based non-profit organization, total European e-commerce grew to €718bn with a growth rate of 13%, up from €633 billion in 2020. Therefore, the rising consumer expectations for faster and seamless shopping is driving the growth of the retail automation market.

Key Industry Players

Major companies operating in the retail automation market are Samsung Electronics Co. Ltd., Amazon Web Services Inc., Honeywell International Inc., Fujitsu Limited, Posiflex Technology Inc., NCR Corporation, Zebra Technologies Corporation, KUKA AG, Diebold Nixdorf Inc., Casio Computer Co. Ltd., Capillary Technologies, PAX Technology Inc., Datalogic S.p.A, Toshiba Global Commerce Solutions Inc., WiseTech Global group, First Data Corporation, Optimove Inc., Tecsys Inc., ECR Software Corporation, SandenVendo, E&K Automation GmbH, 6 River Systems LLC, Focus Softnet FZ LLC, Vinculum Solutions Pvt. Ltd., Pricer AB, Future Way Technical Services LLC, QR Retail Automation (Asia) Sdn Bhd, Napse, Kiosk & Display LLC, Wincor Nixdorf AG

The retail automation market report table of contents includes: