Retail Automation Market worth $44.3 billion by 2029

The 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% during the forecast period according to a new report by MarketsandMarkets.

The increasing demand rising demand for high-quality and fast service to consumers and the increasing adoption of integrated automated technology in warehouses are the key drivers fueling the expansion of the retail automation market. Restraints such as regular maintenance and meeting regulatory compliance hinder market growth. However, factors such as increased transparency in supply chain management and enhanced retail experience for consumers by leveraging automation technologies provide lucrative opportunities for market players in coming years.

Based on product type retail automation market for POS systems is expected to hold the highest market share during the forecast period. POS systems include interactive kiosks and self-checkout systems. Self-checkout systems in retail automation have witnessed rapid growth due to their ability to reduce checkout time, improve efficiency, and provide a seamless shopping experience for customers. Additionally, they offer cost savings for businesses by reducing the need for cashiers.

Retail automation market for the warehouse segment by implementation type to exhibit the highest market share during the forecast period.

Warehouse automation in retail has surged, employing technologies like robotics, automated storage, and picking systems, ensuring faster and more accurate order fulfillment while reducing labor costs and enhancing inventory management. This trend significantly improves supply chain efficiency and customer satisfaction, particularly in the retail industry.