The global retail automation market is expected to be valued at USD 27.6 billion in 2024 and is projected to reach USD 44.3 billion by 2029; it is expected to grow at a CAGR of 9.9% from 2024 to 2029.
The market is experiencing growth driven by the increasing adoption of integrated automated technology by e-commerce warehouses. However, challenges such as growing cybersecurity threats with the adoption of automation technology hinder market growth. Despite these hurdles, opportunities emerge from the enhanced retail experience for customers by leveraging automation technologies.
POS systems by product type to witness the highest CAGR during the forecast period.
The growth of point-of-sale (POS) systems in retail automation is driven by their ability to enhance customer experience, streamline operations, and provide valuable data insights. With features like advanced inventory management and real-time data analytics, modern POS systems help retailers optimize stock levels, reduce costs, and improve customer service. Cloud-based solutions offer flexibility and scalability, allowing businesses of all sizes to benefit from these features.
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The hypermarkets segment is estimated to account for the largest market share during the forecast period.
By end user, hypermarkets are expected to have the biggest market share in 2024. Supermarkets, hypermarkets, and department shops often have a higher customer flow and purchase volume than any other form of retail store. The growth of retail automation in hypermarkets is driven by the need for operational efficiency and improved customer experience.
Warehouse retail automation exhibits the highest market share in retail automation market.
Retail automation in warehouses is growing due to increasing demand for efficiency and accuracy in inventory management. Automation technologies such as robotic picking systems, automated conveyor belts, and inventory tracking software help optimize warehouse operations, reduce errors, and enhance productivity. Retailers are investing in automation to handle larger volumes of orders and meet customer expectations for fast and accurate deliveries.
Retail Automation market in the Asia Pacific region to exhibit the highest CAGR during the forecast period.
Retail automation in warehouses is growing due to increasing demand for efficiency and accuracy in inventory management. Automation technologies such as robotic picking systems, automated conveyor belts, and inventory tracking software help optimize warehouse operations, reduce errors, and enhance productivity. The region is also home to rapidly growing cities and urban areas with increasing disposable incomes. This has led to a significant increase in retail activity, creating a demand for automated solutions to manage large volumes of sales and inventory efficiently.
Key Market Players
The retail automation companies is dominated by players such as Global | Honeywell (US), NCR VOYIX Global – Digital Banking, POS Systems, Payment Solutions (US), Bank Innovation – Retail Technology | Diebold Nixdorf (US), Zebra Technologies | Visible. Connected. Optimized. | Zebra (US), Hikvision - Leading Video AIoT Solutions & Services Provider (China), and others.