Retail Automation Market Growth, Size, Share, Trends, and Forecast 2032

Retail Automation Market

Retail Automation Market By Type (Introduction, POS Terminal, Self-Checkout System, Interactive Kiosk, Camera, RFID and Barcode, Electronic Shelf Labels (ESL), Autonomous Guided Vehicle (AGV), Automatic Storage and Retrieval System (ASRS), Automated Conveyor, and Warehouse Robotics). By Component (Introduction, Hardware (Barcode Scanner, Vending Machines, e-POS Systems, Self-Scan Checkout systems, and Others), Software (Supply Chain and Inventory management software, Workforce management software, and Retails Apps and online store applications)). By Implementation (Introduction, On-Store Premise, and On-Warehouse). By Vertical (Introduction, Hypermarkets, Supermarkets, Single-Item Stores, Apparels, Consumer Electronics, Gadgets, Quick-Service Restaurant, Automotive, Petrol Pumps/Fuel Stations, and Health and Retail Pharmacy). and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022-2028-

Category: Technology & Media Report Format : PDF Pages: 190 Report Code: ZMR-1465 Published Date: May-2022 Status : Published

The global Retail Automation Market size was USD 14,421.8 Million in 2023 and rise to USD 26,540.2 Million by 2032 at a CAGR of 10.7%.

Retail Automation Market Industry Prospective:

The Retail Automation Market was worth around USD 14,421.8 million in 2021 and is estimated to grow to about USD 26,540.2 million by 2028, with a compound annual growth rate (CAGR) of approximately 10.7 percent over the forecast period. The report analyzes the Retail Automation Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Retail Automation Market. 

Global Retail Automation Market SizeRequest Free Sample

Retail Automation Market: Overview

Retail automation is the deployment of technology in retail enterprises that works on the premise of automating, simplifying, and removing as much manual labor as possible from an employee's task. The advantages of automated retail have raised awareness about the benefits of automation in retail operations such as inventory optimization, buy or sales services, and others, which are predicted to fuel market growth in the forecast period. In addition, the proliferation of autonomous mobile robotics (AMR) and autonomous guided vehicles (AGV) in the retail industry has increased automation adoption, which is likely to support the growth of the worldwide retail automation market during the forecast period. The use of real-time analytics in automation is likely to generate considerable revenue growth potential for worldwide market competitors.

The purchasing power of consumers has an exponential relationship with a country's economic growth. Thus, the requirement to boost consumer participation in shopping or purchasing goods has driven the retail industry to dramatically automate its operating operations. Automation has the potential to change retail business models and open up new value chain opportunities for market participants. As a result, the following factors are projected to fuel the growth of the worldwide retail automation market in the future years. Moreover, an increase in R&D operations to expand the scope of virtual marketing in the retail industry is beneficial to the global market.

The COVID 19 pandemic posed a significant challenge to the retail industry, causing significant disruption. This was a favorable trend for the Retail Automation market. Furthermore, the Retail Automation Market was the only sector capable of saving the retail sector from imminent closure. Because technology replaces manual activities, retail automation is the future of the retail industry. During the pandemic, human engagement in retail operations was especially perilous. As a result, the pandemic created favorable conditions for the growth of the Retail Automation Market.

During the pandemic, the retail automation market has only risen. Despite the fact that the retail sector as a whole suffered, the Retail Automation Market remained busy. This is because major retail enterprises quickly resorted to automation in order to survive. The pandemic necessitated the need for Retail Automation Market research and development. During the pandemic time, many new retail automation technologies were introduced. The pandemic and post-pandemic period is a good time for the Retail Automation business to grow. As a result, market experts think that the Retail Automation Industry will thrive in the next years as more retail chains implement automation in routine activities.

Retail Automation Market: Driver

The worldwide retail automation market will be driven by rising demand for retail automation products.

With breakthrough technologies, retail automation provides versatile and user-friendly solutions for both retailers and customers. The benefits of automated products, such as manageable business platforms, efficiency in product supply, and faster sales processes, are driving greater demand for them. This increases retailer revenues through cost advantage and ensures a productive environment for worldwide market expansion.

Retail Automation Market: RESTRAINTS

Reliance on the internet and on power

Electricity and the Internet are the only sources of power for retail automation goods and solutions. Unattended terminals, such as kiosks and vending machines, require a continual and uninterrupted supply of electricity to ensure that a variety of products are always available to clients. Furthermore, customers nowadays want to make payments online or by card, which necessitates high-speed internet connectivity to assure quick and timely payments. However, issues such as changes in climatic conditions, decreased bandwidth, or server traffic can all slow down the internet speed. The retail automation market's growth may be hampered by the absence or failure of electricity and internet access. The lack of such facilities in remote locations limits the installation of automated kiosks or vending machines, both of which require energy and Internet access. This reliance causes significant barriers to commercial growth.

Global Retail Automation MarketRequest Free Sample

Retail Automation Market: Opportunity

Emerging technologies have high growth potential.

Though the United States dominates the retail automation market, developing countries such as China, India, Brazil, and a few African and Middle Eastern countries are also experiencing tremendous growth as a result of foreign direct investment in the retail sector. Many global retailers first centered their market expansion plans on China, but nowadays retailers are gradually being enticed by the possibilities of other markets, particularly Southeast Asian countries and BRIC nations (Brazil, Russia, India, and China). Furthermore, due to their massive consumer bases, India and China are Asia Pacific's largest retail markets.

Developing economies have emerged as prospective retail automation opportunities in recent years. Retailers in these emerging economies are successfully implementing tactics to cater to the expanding middle-class consumer base. The global retail automation market includes a variety of automated products based on characteristics such as the country's economic state, population, GDP, and population spending habits, among others. While automation goods are widely used in rich countries, certain emerging or undeveloped countries, such as Egypt and Yemen, have begun to adopt them in the retail sector due to the tremendous development prospects they provide. As a result, the industry has a significant untapped potential opportunity across many geographies. Asian and Middle Eastern countries are among those geographies that are experiencing market growth. In the foreseeable future, these emerging markets are projected to drive the market. One of the biggest opportunities for this market is the potential rise of the retail automation market in emerging economies.

Retail Automation Market: Challenge

Unattended terminals pose a risk of theft.

When retailers locate their kiosk systems or vending machines in remote and isolated locations such as public streets, railway stations, theatres, cafeterias, and airports, it is difficult for them to keep a continual eye on these systems. Due to their open nature, kiosks and vending machines are difficult to safeguard from damage and theft, and there is usually no provision for a protective shell surrounding the kiosk during non-working hours. Thefts and damages can often result in significant losses for shops, which is a significant challenge for retailers in this industry.

Many retailers are experimenting with various solutions to this challenge. Though this option helps to provide security to automated systems to some level, it is challenging for shops that have their automated systems operational 24 hours a day and are located in remote locations.

Retail Automation Market: Segmentation

The Retail Automation Market is segregated based on Type, Component, Implementation, and Vertical.

By Type, the market is classified into Introduction, POS Terminal, Self-Checkout System, Interactive Kiosk, Camera, RFID and Barcode, Electronic Shelf Labels (ESL), Autonomous Guided Vehicle (AGV), Automatic Storage and Retrieval System (ASRS), Automated Conveyor, and Warehouse Robotics. During the forecast period, the Retail Automation Market for cameras is expected to develop at a high rate. When compared to other commercial buildings, malls and retail businesses are more vulnerable to security issues such as theft and inventory loss. Investing in cameras as a retail solution gives various long-term benefits, including increased shop revenues, decreased retail losses, decreased thefts, and analysis of employee activities, as well as knowing consumer purchasing behavior. Contactless payment, RFID transponders, and sophisticated one-click payments are expected to be employed internationally, resulting in a rise in growth.

By Implementation, the market is classified into Introduction, On-Store Premise, and On-Warehouse. In-Store Premises is expected to have the greatest growth. Consumers in developing countries are more likely to visit a store and select the goods they want to buy, which will be a role in the on-store premises recording the highest CAGR. The number of physical stores is gradually increasing in developing economies. The rising countries are densely inhabited, and the majority of people choose to buy everyday necessities from stores due to their ease of access. As a result, despite the rise of e-commerce, some buyers still prefer to buy things in stores. These factors will help the expansion of the Retail Automation Market for in-stores in the approaching years.

By Vertical, the market is classified into Introduction, Hypermarkets, Supermarkets, Single-Item Stores, Apparels, Consumer Electronics, Gadgets, Quick-Service Restaurant, Automotive, Petrol Pumps/Fuel Stations, and Health and Retail Pharmacy. The supermarket vertical category is predicted to contribute the most to the total retail automation market, owing to a rising requirement at these facilities to attract more customers while reducing labor expenses.

Report Scope:

 

Recent Developments

  • In 2020, Posiflex Technology Inc. has launched a new series of PoS systems called HS-3314A, which is a 14′′ Android 9.0 Projected Capacitive Touch (PCAP) POS system. It includes a built-in printer with several peripherals as well as a high-performance Rockchip RK3399 processor.

Regional Landscape

North America has had acquired the largest share of the market. The dominance is linked to the presence of several prominent players in this region. Additionally, the availability of well-developed IT infrastructure, the widespread use of modern technologies, and the region's well-established infrastructure are projected to drive the market in the approaching years. Emerging technologies are giving a variety of solutions from the loading dock to the checkout line to improve operational efficiency, which is fuelling the market's expansion. Moreover, mobile checkout devices have enabled the sale of items in any location, whether it is a pop-up shop, an event, or a kiosk. As a result, the North American retail business is on the verge of transforming in terms of adopting new automation technology.

The Asia Pacific is also expected to grow significantly during the forecast period because nations such as China, India, and Japan provide a large part of the market. In addition, the region's retail industry's increased use of digitization is propelling the market's expansion. Moreover, the region's large-scale retailer expansion, as well as the growing awareness and popularity of retail automation, are prompting manufacturers to invest in R&D to create better, more dependable, and cost-effective goods.

Competitive Landscape

Some of the main competitors dominating the Retail Automation Market include - Datalogic S.p.A (Italy), First Data Corporation (US), NCR Corporation (US), Fujitsu Limited (Japan), Toshiba Global Commerce Solutions Inc. (US), Honeywell Scanning and Mobility (US), KUKA AG (Germany), Wincor Nixdorf AG (Germany), Zebra Technologies Corporation (US), Pricer AB (Sweden), Posiflex Technology Inc. (US), and E & K Automation GmbH (Germany).

The Retail Automation Market is segmented as follows:

By Type

  • Introduction
  • POS Terminal
  • Self-Checkout System
  • Interactive Kiosk
  • Camera
  • RFID and Barcode
  • Electronic Shelf Labels (ESL)
  • Autonomous Guided Vehicle (AGV)
  • Automatic Storage and Retrieval System (ASRS)
  • Automated Conveyor
  • Warehouse Robotics

By Component

  • Introduction
  • Hardware
  • Barcode Scanner
  • Vending Machines
  • e-POS Systems
  • Self-Scan Checkout systems
  • Others
  • Software
  • Supply Chain and Inventory management software
  • Workforce management software
  • Retails Apps and online store applications

By Implementation

  • Introduction
  • On-Store Premise
  • On-Warehouse

By Vertical

  • Introduction
  • Hypermarkets
  • Supermarkets
  • Single-Item Stores
  • Apparels
  • Consumer Electronics
  • Gadgets
  • Quick-Service Restaurant
  • Automotive
  • Petrol Pumps/Fuel Stations
  • Health and Retail Pharmacy

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

Free Analysis

FrequentlyAsked Questions

The advantages of automated retail have raised awareness about the benefits of automation in retail operations such as inventory optimization, buy or sales services, and others, which are predicted to fuel market growth in the forecast period. In addition, the proliferation of autonomous mobile robotics (AMR) and autonomous guided vehicles (AGV) in the retail industry has increased automation adoption, which is likely to support the growth of the worldwide retail automation market during the forecast period.

According to the Market Research report, the Retail Automation Market was worth about 14,421.8 (USD million) in 2021 and is predicted to grow to around 26,540.2 (USD million) by 2028, with a compound annual growth rate (CAGR) of around 10.7 percent.

 

North America has had acquired the largest share of the market. The dominance is linked to the presence of several prominent players in this region. Additionally, the availability of well-developed IT infrastructure, the widespread use of modern technologies, and the region's well-established infrastructure are projected to drive the market in the approaching years.

 

Some of the main competitors dominating the Retail Automation Market include - Datalogic S.p.A (Italy), First Data Corporation (US), NCR Corporation (US), Fujitsu Limited (Japan), Toshiba Global Commerce Solutions Inc. (US), Honeywell Scanning and Mobility (US), KUKA AG (Germany), Wincor Nixdorf AG (Germany), Zebra Technologies Corporation (US), Pricer AB (Sweden), Posiflex Technology Inc. (US), and E & K Automation GmbH (Germany).

 

Choose License Type

  • zion payment modes

HappyClients

Office Address

Contact Us

Zion Market Research
Tel: +1 (302) 444-0166
USA/Canada Toll Free No.+1 (855) 465-4651

Asia Pacific Office

3rd Floor, Mrunal Paradise, Opp Maharaja Hotel, Pimple Gurav, Pune 411061, Maharashtra, India
Phone No +91 7768 006 007, +91 7768 006 008

Contact #

US OFFICE NO +1 (302) 444-0166
US/CAN TOLL FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com

We Are On Social

twitter

Industry Press Release

We Accept

We have secured system to process your transaction.

  • payment methods

Business Hours

Our support available to help you 24 hours a day, five days a week.

Monday - Friday: 9AM - 6PM

Saturday - Sunday: Closed