Retail Automation Market

Retail Automation Market size reached USD 16.1 billion in 2022 and is estimated to reach USD 32.7 billion in 2030 and the market is estimated to grow at a CAGR of 9.3% from 2023-2030

Retail Automation Market Overview

Retail automation refers to the process of using innovations in tools, technology, and procedures in the retail sector for efficient operational processes resulting in enhanced customer experience with lesser cost to the retailer. Retail automation has created a new sales channel for retailers and brands to reach their target audience in a non-traditional way. It also helps the retailers to reach their target market more effectively, promote a new product launch, and reduces the overall operational cost at the same time. The consumers prefer automated retailing as it is easy-to-use, provides instant data information, and offers immediate visual connection with the desirable items.

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Major Retail Automation Market Drivers

The increasing implementation of automated technologies in the retail sector and the significant rise in the demand for retail automation products among the urban population are the key factors responsible for the growth of the Global Retail Automation market over the forecast period. The retail automation provides flexibility and ease for consumer’s solutions to the retailers by using innovative technologies. The automation process allows easy managing of business platforms, faster sales processes, and improves efficiency in product supplies. All these factors help the retailers to lower their overall operational cost, thereby encouraging them to adopt retail automation to save their time and money. For instance, automated guided vehicles are often used to perform heavy-lifting tasks in the warehouses and production plants as these systems can constantly work with no breaks and perform repetitive tasks with better accuracy and efficiency. The growing usage of autonomous mobile robotics (AMR) and autonomous guided vehicles (AGV) in the retail industry will promote the adoption of automation in the retail sector over the coming years.

The growing hectic lifestyle and the rising economic growth, especially in developing nations such as India and China, are encouraging the consumers to shift their preference towards conveniently packed food products. This fundamental shift in the consumer’s choice will propel the retailers to automate their selling process. Various multinational giants are heavily investing in the R&D activities to enhance the virtual marketing strategies coupled with the advent of real-time analytics in the automation process will create new opportunities in the market, thereby bolstering the demand of the global market. The drastic rise in the number of malls, airports, supermarket & hypermarkets, fuel station/petrol pumps, and retail pharmacy will have a positive impact on the growing demand for retail automation to increase revenue and enhance the customer experience. On the other hand, the high dependency of automated systems on electricity and the internet will hamper the growth of the market during the forecast period.

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Based on the type, the camera segment is expected to grow at a higher CAGR during the forecast period in the retail automation market. The increasing security concerns such as inventory losses and theft in retail shops, malls, supermarkets, and fuel stations will promote the usage camera as a retail solution to minimize retail losses, increase store profits, evaluate the employee tasks, and reduce the chances of thefts.

Based on the implementation, the in-store segment is anticipated to lead the market during the forecast period owing to the drastic increase in the number of physical stores, especially in the developing economies. The increasing population rate is encouraging the development of physical stores such as supermarkets and retails shop, to provide consumers with an easy grocery shopping option. Moreover, the evolving technologies and the exceptional benefits offered by the automated techniques to the retailers will drive the demand for retail automation at the global level. The on-warehouse segment is expected to grow at a higher CAGR during the forecast period. Warehouse automation allows the implementation of automated conveyors, storage, and retrieval systems while reducing the involvement of employees to accomplish numerous operational tasks.

Based on the vertical, the supermarket segment is expected to grow at a higher CAGR during the forecast period due to the increasing trend of leveraging automation across the retail sector to capture the growing demand of the consumers and reduce the labor cost at the same time. The automated order selection systems are replacing/reducing “self-service” retailing as they improve efficiency and provides quicker service to the consumers.

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Regional – Segment Analysis

Based on the region, North America is anticipated to lead the market during the forecast period owing to the increasing living standards and growing demand for advanced and cost-effective retail services across the North American region. The market players are widely adopting retail automation to offer easy and fast point-of-sale (PoS) services to its target customers. Moreover, various multinational giants such as Wal-Mart and Kroger in North America are mainly focusing on the technological development, which will create new opportunities in the market, thereby propelling the demand of retail automation in the region.

Top Market Players

Various notable players in the Retail Automation market include Datalogic S.P.A., First Data Corporation, Diebold Nixdorf, Incorporated, Honeywell Scanning & Mobility, Fujitsu Limited, NCR Corp., Posiflex Technology Inc., Pricer, Toshiba Global Commerce Solutions Inc., and KUKA AG.

Key Developments:

• • In 2019, Toshiba launched POS Platforms to improve the shopping experience of the customers and enhance the operational results of the retailers. TCx 800, the POS platform is designed to improve flexibility and reliability. T10, POS System supports the functionality, style and versatility and the TCx single station printer are designed to accelerate the printing speed to up to 406 millimetres per second.
  • In 2019, First Data acquired Software Express, a Brazilian based EFT solution provider. The acquisition will help both companies to enhance their global position, expand their electronic payment transactions, and provide support to all retail clients, financial institutions, telecoms, and card schemes.

Segments covered in the Report:

The Global Retail Automation market has been segmented based on the type, component, implementation, vertical, and regions. Based on the type, the Global Retail Automation market is categorized into POS Terminal, camera, RFID & barcode, electronic shelf labels, autonomous guided vehicles, automatic storage & retrieval system, automated conveyor, and warehouse robotics. Based on the POS Terminal, the market is further segmented into self-checkout system and interactive kiosk. Based on the component, the market is segmented into hardware and software. Based on hardware, the market is further segmented into a barcode scanner, vending machines, e-POS systems, self-scan checkout systems, and others. Based on software, the market is further segmented into the supply chain and inventory management software, workforce management software, retails apps, and online store applications. Based on the implementation, the market is segmented into on-store premises and on-warehouse. Based on vertical, the market is segmented into hypermarket, supermarket, single-item store, petrol pump-fuel station, and health & retail pharmacy. Based on the single-item store, the market is further segmented into apparel, consumer electronics, gadgets, quick-service restaurants, and automotive.

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Market Segmentation

Global Retail Automation Market by Type

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

Global Retail Automation Market by Component

• • 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

Global Retail Automation Market by Implementation

• • On-Store Premise
  • On-Warehouse

Global Retail Automation Market by Vertical

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

Global Retail Automation Market by Region

• • North America Retail Automation Market (Option 1: As a part of the free 25% customization)

    • North America Market by Type
    • North America Market by Component
    • North America Market by Implementation
    • North America Market by Vertical
    • US Market All-Up
    • Canada Market All-Up

  • Europe Retail Automation Market (Option 2: As a part of the free 25% customization)

    • Europe Market by Type
    • Europe Market by Component
    • Europe Market by Implementation
    • Europe Market by Vertical
    • United Kingdom (UK) Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Retail Automation Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Market by Type
    • Asia-Pacific Market by Component
    • Asia-Pacific Market by Implementation
    • Asia-Pacific Market by Vertical
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • ROW Retail Automation Market (Option 4: As a part of the free 25% customization)

    • RoW Market by Type
    • RoW Market by Component
    • RoW Market by Implementation
    • RoW Market by Vertical
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Retail Automation Market Leading Players (Option 5: Free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • Datalogic S.P.A.
  • First Data Corporation
  • Diebold Nixdorf, Incorporated
  • Honeywell Scanning & Mobility
  • Fujitsu Limited
  • NCR Corp.
  • Posiflex Technology Inc.
  • Pricer
  • Toshiba Global Commerce Solutions Inc.
  • KUKA AG