Home > Semiconductors & Electronics > Automation > Robotics > Retail Automation Market

Retail Automation Market Size

Report ID: GMI8662
Published Date: Mar 2024
Report Format: PDF

Download Free Sample

Retail Automation Market Size

Retail Automation Market was valued at over USD 25 billion in 2023 and is estimated to register a CAGR of over 10% between 2024 and 2032. The industry is anticipated to increase because of automation intelligence technology advancements, which will make it possible to create more complex and effective systems.

Retail Automation Market

To get key market trends

Download Free Sample

Improving operational efficiency, inventory management, and tailored customer experiences are all made possible by enhanced automation intelligence, which enables real-time data analysis, predictive analytics, and machine learning capabilities. Retailers may promote market growth by utilizing these technologies to decrease costs, streamline processes, and maintain competitiveness in the increasingly digital and data-driven retail sector. For instance, in May 2023, ECS Industrial Computer Co., Ltd., (ECSIPC) launched an extensive range of new products for intelligent retail kiosks. This includes the LIVA Z5 Plus MiniPC series, such as B760H7-M8 and Q670HIS1 motherboards, designed for automation intelligence, information terminals, and lottery terminals.

Retail Automation Market Report Attributes
Report Attribute	Details
Base Year:	2023
Retail Automation Market Size in 2023:	USD 25 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	10%
2032 Value Projection:	USD 60 Billion
Historical Data for:	2018 – 2023
No. of Pages:	200
Tables, Charts & Figures:	351
Segments covered:	Implementation Type, Product Outlook, Component, End-Use, and region
Growth Drivers:	Rising demand for seamless customer experiences Advancements in automation intelligence technology Growing need for inventory management and accuracy Expansion of e-commerce necessitates automated fulfillment solutions Increasing labor costs drive automation adoption
Pitfalls & Challenges:	Concerns about job displacement and workforce implications Lack of customization options limits suitability for diverse businesses

Learn more about the key segments shaping this market

Download Free Sample

As companies look to improve customer satisfaction and loyalty, the growing desire for seamless customer experiences is anticipated to fuel growth in the retail automation industry. Retailers may provide easy, efficient, and customized shopping experiences to their customers by utilizing automation technology like self-checkout systems, tailored suggestions, and seamless omnichannel integration. This helps them acquire and retain more customers.

The lack of customization choices limits the retail automation market's suitability for a wide range of firms, as each has unique needs and requirements. Off-the-shelf solutions may not be adequate for unique workflows, procedures, or business models, resulting in inefficiencies or missed chances for improvement. This constraint may impede adoption among firms seeking bespoke automation solutions that interface smoothly with existing systems.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Market size for retail automation was USD 25 billion in 2023 and is expected to register over 10% CAGR from 2024-2032 owing to the rising automation intelligence technology advancements, which is expected to make it possible to create more complex and effective systems worldwide.

Retail automation industry from the warehouse segment is expected to register over 11% CAGR from 2024-2032 due to their ability to maximize the utilization of available space, which is especially important in cities where warehouse space is expensive.

North America industry held over 45% share in 2023 and is expected to register a commendable CAGR from 2024-2032 due to growing efficiency demands, a sizable consumer base, and technology improvements in the region.

Datalogic S.p.A, Diebold Nixdorf, Incorporated, Fujitsu Limited, Honeywell International Inc., NCR Corporation, Posiflex Technology Inc., and Zebra Technologies Corporation, are some of the major retail automation companies worldwide.