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Retail Automation Market size was valued at USD 1.10 billion in 2022 and is poised to grow from USD 1.21 billion in 2023 to USD 2.64 billion by 2031, growing at a CAGR of 10.20% during the forecast period (2024-2031).

The retail automation market is a highly competitive landscape with the presence of several key players striving to gain a competitive edge. These companies focus on innovation, partnerships, mergers and acquisitions, and geographic expansion to solidify their market position. The competitive landscape is dynamic, with companies striving to differentiate themselves through product innovation, customer-centric solutions, and strategic partnerships. 'NCR Corporation (US)', 'Toshiba Corporation (Japan)', 'Diebold Nixdorf, Incorporated (US)', 'Fujitsu Limited (Japan)', 'Honeywell International Inc. (US)', 'Zebra Technologies Corporation (US)', 'Wincor Nixdorf AG (Germany)', 'IBM Corporation (US)', 'Panasonic Corporation (Japan)', 'ECR Software Corporation (US)', 'First Data Corporation (US)', 'Posiflex Technology, Inc. (Taiwan)', 'Ingenico Group (France)', 'NEC Corporation (Japan)', 'Pricer AB (Sweden)', 'Zucchetti Group (Italy)', 'VeriFone Systems, Inc. (US)', 'Seiko Epson Corporation (Japan)', 'Datalogic S.p.A. (Italy)', 'PCMS Group Limited (UK)'

Retailers are increasingly deploying self-checkout systems to enhance the customer experience and improve operational efficiency. In 2022, major retailers worldwide, such as Walmart, Target, and Tesco, have expanded their self-checkout offerings to reduce checkout time, provide contactless transactions, and cater to the growing demand for convenience.

Integration of Artificial Intelligence (AI) and Machine Learning: In 2022, the integration of AI and machine learning in retail automation solutions has gained momentum. These technologies enable advanced analytics, personalized recommendations, demand forecasting, and inventory optimization. Retailers are leveraging AI-powered chatbots and virtual assistants to provide real-time assistance to customers, enhancing their shopping experiences.

North America is projected to maintain its position as the leading segment in the market during the forecast period. This is primarily due to the presence of well-established manufacturers and a large consumer base in the region. North America accounted for the largest share of revenue in the market, and it is expected to exhibit a robust compound annual growth rate (CAGR) of over 7% from 2023 to 2030. Besides North America, the European and Asia Pacific regions are also expected to be significant contributors to the market's revenue.

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Global Retail Automation Market

Product ID: SQMIG45E2178