Retail Automation Market Size, Share & Trends Analysis Report By Product (Camera, PoS), By Implementation (In-store, Warehouse), By End-use (Fuel Stations, Supermarkets), By Region, And Segment Forecasts, 2024 - 2030

Retail Automation Market Size, Share & Trends Analysis Report By Product (Camera, PoS), By Implementation (In-store, Warehouse), By End-use (Fuel Stations, Supermarkets), By Region, And Segment Forecasts, 2024 - 2030

Retail Automation Market Growth & Trends

The global retail automation market size is projected to reach USD 44.84 billion by 2030, registering a CAGR of 9.3% from 2024 to 2030, according to a new study by Grand View Research Inc. The retail industry is automating most of its operational processes due to increasing customer engagement. In addition, automation modifies retail business models and opens new value chain opportunities for market players in the retail automation sector. Due to the increasing use of autonomous guided vehicles (AGV) and autonomous mobile robotics (AMR) in the retail industry, automation has become more prevalent. It is expected to drive market demand. The implementation of Unified Payments Interface (UPI) has increased global demand for digital payments.

In developing countries, such as India, the implementation of Goods and Services Tax (GST) is a crucial factor in the adoption of retail automation solutions due to the implementation of e-invoicing. Furthermore, with effective management it is easy to meet high standards in retail logistics and e-commerce. In the long run, companies with efficient management and superior logistics are expected to dominate the market and stay competitive. Therefore, realizing the benefits of automating retail workflows, businesses are expected to increase the implementation of retail automation platforms across their channels. Increasing adoption of advanced technologies across the retail industry drives industry players to deliver systems and tailored solutions to improve business performance and operate stores more efficiently to delight shoppers with a better experience.

For instance, in April 2023, Toshiba Global Commerce Solutions Inc., a retail automation platforms supplier, unveiled “mission control” a global services command center for the business's Proactive Availability Services solution, which would assist retailers globally and provide remote, secure monitoring insights for in-store system technology. Retailers can activate intelligence about their retail store systems using the company's "mission control" site for Proactive Availability Services. It allows retailers to predict, diagnose, and resolve system needs quickly and remotely, minimizing downtime. Companies are also adopting various business strategies to attract potential clients and achieve higher profitability from this potential market.

For instance, in July 2023, Coalescent Mobile Robotics, a retail automation software provider, partnered with StrongPoint, a grocery retail solutions provider, to facilitate Coalescent Mobile Robotics accessing StrongPoint’s extensive network and expertise in Europe to bring its innovative autonomous mobile robots (AMRs) to grocery retailers across the continent. Coalescent Mobile Robotics’ AMRs would gain access to StrongPoint's Order Picking solution that expedites the picking process for grocery e-commerce businesses. By combining the two solutions, grocery retailers can get significant operational efficiency savings and free up labor to focus on customer service. Thus, there is a growing demand for retail automation across grocery stores.

Retail Automation Market Report Highlights

• The warehouse segment is expected to exhibit a high growth rate of around 10% from 2024 to 2030. Businesses in the retail industry can benefit from automation. Factors, such as increased accuracy and reduced time spent on order picking & storage tasks, contribute to the segment growth
• The point-of-sale (POS) segment is anticipated to register a CAGR of around 11% from 2024 to 2030. There a is rise in the implementation of cloud-based POS systems across the retail sector. A cloud-based solution saves money by fulfilling the requirement for pricey on-site server hardware, which can be very expensive for small retailers. Furthermore, monthly subscription costs for cloud-based POS systems are relatively lower. Thus, rise in POS implementation across the retail sector is driving the segment growth
• The supermarket segment is expected to grow at the highest CAGR of more than 10.5% from 2024 to 2030. A supermarket is a self-service shop offering a wide variety of food, beverages, and household products organized into sections. Therefore, automation provides real-time visibility into inventory levels, enabling more accurate demand forecasts and improved inventory management. Supermarket operators using automation benefit from advantages, such as higher customer satisfaction, lower costs, and enhanced agility in this fiercely competitive market
• Asia Pacific is expected to register a CAGR of around 11% from 2024 to 2030. Growing number of retail shops in developing countries, such as China, Japan, and India, is driving regional market growth. Increasing adoption of emerging technologies, such as artificial intelligence (AI) and machine learning (ML), also supports region’s growth

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