Product Code: RP-ID-10064160 |
Published Date: 21 Mar 2025 |
Region: Global |
Category: Automotive & Transportation |
Report ID: 10064160
Market Overview:
Global Retail Automation Market Analysis by Type (Point of Sales, Barcode and Radio Frequency Identification, and Others); by Component (Hardware and Software); by Implementation (On-Store Premise and On-Warehouse); and by End-User (Hypermarkets, Supermarkets, and Others)-Global Supply & Demand Analysis & Opportunity Outlook 2023-2033
Global Retail Automation Market Scope Report
|
Base Year |
2022 |
|
Forecast Year |
2023-2033 |
|
CAGR |
~11% |
|
Base Year Market Size (2022) |
~ USD 14 Billion |
|
Forecast Year Market Size (2033) |
~ USD 34 Billion |
Global Retail Automation Market Highlights Over 2023 - 2033
The global retail automation market is estimated to garner a revenue of ~ USD 34 billion by the end of 2033 by growing at a CAGR of ~11% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~ USD 14 billion in the year 2022. Retail automation refers to the use of software solutions to complete repetitive and time-consuming tasks with consistent efficiency. Today, automation in the retail sector is observable at self-checkout counters, point of sale (POS), and more. The growing demand for contactless payment is the primary factor driving the global retail automation market growth. It is estimated that there was a growth of over 149% in contactless payments between 2019 and 2020.
GET A SAMPLE COPY OF THIS REPORT
A main driving force for a rapid shift to contactless payments during the pandemic was the concern for cleanliness and hygiene. Shoppers still view contactless payment as a cleaner way of making a payment and often prefer shops and platforms that offer contactless payment options over those which follow the traditional mode of payment. However, contactless payment was already gaining popularity even before COVID-19 for the speed and convenience that it offers.
Global Retail Automation Market: Growth Drivers and Challenges
Growth Drivers
-
Great Significance of Good Customer Service – It is estimated that customer service is a decisive factor for brand loyalty for more than 94% of customers. Customer service has a direct influence on customer satisfaction. Hence, good and caring customer service considerably increases the possibility of a customer returning to the store for the next shopping experience. Good customer service is resultant of several factors, including live AI-assisted chatbots on websites or apps, automated e-mail responses, interactive voice response (IVR) for customer calls, self-service knowledge bases, and more. Another inevitable factor for a good customer experience is internal workflow automation which minimizes the chance for human error and directs customers to assistance promptly.
-
Increased Use of Europay, MasterCard, and Visa (EVM) Cards – It is estimated that more than 86% of card payments done between January and December 2020 involved the use of EMV chip-enabled cards.
-
Growing Significance of Robotic Process Automation (RPA) – About 58% of executives has been observed to agree that RPA has increased employee engagement.
-
Immense Need for Better Inventory Planning – It is estimated that the world loses over USD 1 trillion from inventory distortion, including stockouts, shrinkage, and overstock.
Challenges
-
Unfamiliarity With the Benefits of Retail Automation Among Retailers in a Developing Economy
-
Worries About Data Privacy and Security
-
Exponential Growth of E-commerce Shadowing the Retail Store Business
The global retail automation market is segmented and analyzed for demand and supply by type into POS, RFID, ESL, cameras, autonomous guided vehicle, automatic storage and retrieval system, automated conveyer, warehouse robotics and others. Of these, the POS segment is anticipated to hold the largest market size by the end of 2033. The increased use of near-field communication (NFC) technology for contactless payments at POS is the main reason for the segmental market growth. For instance, ~81% of U.S. consumers are thought to have used NFC for in-store payments as of mid-2021.
Global Retail Automation Market Regional Synopsis
Regionally, the global retail automation market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North American region is projected to hold the largest market share by the end of 2033. A large number of consumers choosing a contactless method for payments and merchants facilitating it, and the wide use of technologies, including RFID and NFC, are the main reasons for the regional market growth. For instance, more than 69% of U.S. merchants have experienced customers requesting a contactless mode of payment in 2021.
Market Segmentation
Our in-depth analysis of the global retail automation market includes the following segments:
|
By Type |
|
|
By Component |
|
|
By Implementation |
|
|
By End User |
|
Key Companies Dominating the Global Retail Automation Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global retail automation market that are included in our report are Fujitsu Limited, Zebra Technologies Corporation, Posiflex Technology, Inc., NCR Corporation, Datalogic S.p.A., Diebold Nixdorf, Inc., Honeywell International Inc., Fiserv, Inc., KUKA AG, Toshiba Tec Corporation, and others.
Global Retail Automation Market: Latest Developments
-
October, 2022: Zebra Technologies Corporation – announced the unveiling of Deep Learning Optical Character Recognition (DL-OCR) to support warehouse operators and manufacturers with accurate, fast, and reliable ready-to-use deep learning solutions for quality, presence check, and compliance.
-
September, 2022: NCR Corporation – has announced being selected as the world’s largest self-checkout vendor in the Global EPOS and Self-Checkout 2022 report by the research and consulting firm RBR.
Key Reasons to Buy Our Report
-
The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
-
It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
-
The report includes detailed company profiles of the major players dominating the market.
-
We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
-
We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
- Fujitsu Limited
- Zebra Technologies Corporation
- Posiflex Technology Inc.
- NCR Corporation
- Datalogic S.p.A.
- Diebold Nixdorf Inc.
- Honeywell International Inc.
- Fiserv Inc.
- KUKA AG
- Toshiba Tec Corporation
Related Reports
Proof of Quality & Reliability
