Global Retail Automation Market Size to Exceed USD 59.17 Billion by 2033 | CAGR of 9.4%
Category: Semiconductors & ElectronicsGlobal Retail Automation Market Size to Exceed USD 59.17 Billion by 2033
According to a research report published by Spherical Insights & Consulting, the Global Retail Automation Market Size Expected to Grow from USD 24.09 Billion in 2023 to USD 59.17 Billion by 2033, at a CAGR of 9.4% during the forecast period 2023-2033.
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Browse key industry insights spread across 242 pages with 120 Market data tables and figures & charts from the report on the "Global Retail Automation Market Size, Share, and COVID-19 Impact Analysis, By Product (Point-of-Sale (POS), RFID & Barcode, Camera, Electronic Shelf Label, Warehouse Robotics, and Others), By Implementation (In-store and Warehouse), By End-use (Hypermarkets, Single Item Stores, Supermarkets, Fuel Stations, Retail Pharmacies, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/retail-automation-market
The global retail automation market refers to the integration of technology and automated systems in retail operations to enhance efficiency, reduce human intervention, and improve customer experience. The market is anticipated to develop as more individuals choose integrated cloud-based point-of-sale systems. Robotics process automation (RPA), artificial intelligence (AI), and machine learning (ML) are examples of advanced technology platforms that are anticipated to reduce costs by boosting process automation in the retail sector. The retail industry's growing use of robotics automation will likely continue to propel market expansion. Maintaining retail merchandise throughout the store is one example of a repetitive operation that may be completed with less human intervention when automation technologies are used. Retail software vendors are expected to develop innovative retail solutions in response to consumers' growing preference for online shopping, which will propel market expansion. Moreover, implementing automation technologies often requires significant upfront capital for purchasing hardware, software, and system integration, which can be a barrier for small to medium-sized retailers.
The point-of-sale segment accounted for the largest share in 2023 and is projected to grow at a remarkable CAGR during the forecast period.
On the basis of product, the global retail automation market is divided into point-of-sale (POS), RFID & barcode, camera, electronic shelf label, warehouse robotics, and others. Among these, the point-of-sale segment accounted for the largest share in 2023 and is projected to grow at a remarkable CAGR during the forecast period. The segment growth is being driven by the rise of logistic warehouses, the expanding e-commerce and m-commerce retail trends, advancements in real-time data analytics, and the development of virtual marketing.
The in-store segment accounted for the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
On the basis of implementation, the global retail automation market is divided into in-store and warehouse. Among these, the in-store segment accounted for the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The real-time notifications provided and received through cloud platforms enable prompt problem-solving, which is responsible for the segment's rise. Thus, the expansion of the category is influenced by all of these factors combined.
The supermarket electronics segment accounted for the highest share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period.
On the basis of end-use, the global retail automation market is divided into hypermarkets, single item stores, supermarkets, fuel stations, retail pharmacies, and others. Among these, the supermarket electronics segment accounted for the highest share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period. The segment's growth can be ascribed to supermarkets' increased use of improved digital shelving systems, which provide dietary information, promotions, and other pertinent data. Additionally, the rise in the creation and introduction of cloud-based signage systems for retail shelves is significantly accelerating this market's growth.
North America is anticipated to hold the largest share of the global retail automation market during the forecast period.
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North America is anticipated to hold the largest share of the global retail automation market during the forecast period. The growing need to enhance customer satisfaction and operational effectiveness is the main factor behind the expansion of retail automation in North America. The growing use of cutting-edge technologies like artificial intelligence and machine learning in retail automation systems is another factor propelling market expansion in this area.
Asia Pacific is expected to grow at the fastest CAGR in the global retail automation market during the forecast period. Asia Pacific has witnessed an increase in the number of small and medium-sized businesses, and they are widely adopting automation technology. From the loading dock to the checkout queue, evolving technologies offer several opportunities to improve operational efficiency. Furthermore, mobile checkout systems in emerging countries allow for the sale of items anywhere, including events, pop-up stores, kiosks, and other public locations.
Major vendors in the global retail automation market are 6 River Systems LLC, Amazon Web Services, Inc., Casio Computer Co. Ltd., Datalogic S.p.A., Diebold Nixdorf, Incorporated., E&K Automation GmbH, ECR Software Corporation, Honeywell Scanning and Mobility, Kiosk & Display LLC, Kuka AG, NCR Corporation, Pricer AB, Toshiba Global Commerce Solutions Inc., Wincor Nixdorf AG, Zebra Technologies Corporation, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In January 2023, Markt POS, a retail solutions provider, announced unified cloud-based POS software for SMEs, groceries, and supermarkets. The POS providers offer their users a seamless experience by integrating all crucial elements of the grocery business into one platform, including payments, POS, loyalty features, e-commerce, and analytics.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global retail automation market based on the below-mentioned segments:
Global Retail Automation Market, By Product
- Point-of-Sale (POS)
- RFID & Barcode
- Camera
- Electronic Shelf Label
- Warehouse Robotics
- Others
Global Retail Automation Market, By Implementation
- In-store
- Warehouse
Global Retail Automation Market, By End-use
- Hypermarkets
- Single Item Stores
- Supermarkets
- Fuel Stations
- Retail Pharmacies
- Others
Global Retail Automation Market, Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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