Retail Automation Market Projected to Hit USD 34.6 Billion at a 18.2% CAGR by 2030

The retail automation market size is projected to reach approximately USD 34.6 billion by 2030, at a CAGR of 18.2% from 2022-2030.

Market Overview

The retail segment of the market is the largest in the world, where the people depend on it the most. The need for retail stores in various regions is vigorously increasing. The rise in the growth of customers in the sector has led to the development of the Retail Automation Market

People rely on the retail sector for purchases of livelihood and other necessities. This factor has influenced the key players to introduce automation in the sector to improve the workflow and make the service more efficient and convenient for the customers.

Some major drivers are propelling the market's demand at the global level. When it was noticed that millions of customers visit the retail sector every day, the key players implemented automation which increased the revenue value of the Retail Automation Market and acted as a key driver. Large investors have increased their investments in the market to provide more advancement. The rapid growth of urbanization and increase in disposable income is another major driver of the market.

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The COVID-19 pandemic has been tough and challenging for the retail sector. Due to the lockdown rules, the retail sectors were shut down in various world regions, which led to revenue loss. But the implementation of retail automation has shown a positive impact in this period. The retail sectors started to adopt automation technology to improve their sales and services. This has shown a favorable impact, and the Retail Automation Market has received huge recognition. In the coming years, the market will grow significantly with rising opportunities. The Retail Automation Market is expected to reach substantial value and register a good USD value during the forecast period.

Market Segmentation:

The Retail Automation Market is segmented into type, component, and end-users. The type segment consists of Electronic Shelf Labels, Automatic Storage and Retrieval, Point of Sale, Kiosk, Barcode RFID, Automated Conveyor, and Others.

The components section of the market has hardware, software, and service. The end-users of the market are categorized into Hypermarkets, Supermarkets, Single Item Stores, Retail Pharmacies, Fuel Stations, and Others.

Type Outlook:

  • Electronic Shelf Labels
  • Point of Sale, Kiosk
  • Automatic Storage and Retrieval, Barcode RFID
  • Automated Conveyor
  • Others

Component Outlook:

  • Hardware
  • Software
  • Service

End-User Outlook:

  • Hypermarkets
  • Retail Pharmacies
  • Supermarkets
  • Single Item Stores
  • Fuel Stations
  • Others

Region Outlook:

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • Australia and New Zealand
    • Rest of Asia-Pacific
  • Rest of the World
    • South America
    • Middle East
    • Africa

Regional Analysis:

The geographical report of the Retail Automation Market shows the major regions covered, such as Europe, North America, Asia Pacific, South America, and the Middle East and Africa. The market is showing significant growth in these major regions. Among thee, the North American region is expected to account highest revenue value during the evaluation period.

The trends of the Retail Automation Market have also been seen in the European region. The Asia Pacific market is registered to consistently maintain growth and reach a good growth rate during the forecast period.

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Industry News:

  • In January 2021, e-commerce company Freshop Inc was acquired by NCR Corporation, which further added e-commerce to NCR Corporation's leading retail core POS platform. It enabled retailers to quickly serve the customers and provide convenient services. 
  • In May 2020, Datalogic agreed to invest in Adroit Worldwide Media Inc. (AWM) Smart Shelf and offered a comprehensive set of better solutions for the retail sector, both non-grocery and grocery, including autonomous checkout, Inventory Intelligence, consumer demographics, and retail analytics engine.

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Larry Wilson

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