Market Size of North America Retail Automation Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | 10.43 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America Retail Automation Market Analysis
The North America Retail Automation Market is expected to register a CAGR of 10.43% during the forecast period(2024-2029).
- The COVID-19 pandemic created huge disruption in the retail industry and forced retailers to take various preventive measures, leading to the closure of several outlets. Owing to this, retailers and prominent brands across the globe faced short-term challenges across sustained revenues, health and safety, supply chain management, labor shortages, and pricing, to name a few.
- Automation is anticipated to play a major part in the growth of the retail industry; as the industry expands, automation helps retailers cut costs and drive efficiency. These solutions also enhance the customer experience and the efficiency of retail facility employees.
- Retailers are facing challenges as the technological revolution is taking place significantly. These innovations are reshaping the behavior of consumers and their way of collaborating and communicating with each other to select products and services.
- Also, as e-commerce is experiencing steady growth and relocating customers away from retail stores, a new in-store experience must be unique online for the brick & mortar stores to stay relevant. Moreover, digital transformation is helping the supply chain by making data-driven decisions and enhancing the customer experience. Also, players are moving toward iot to enable frictionless retail.
- A study conducted by Zebra Technologies on the anticipated future trends in the retail sector revealed that around 60% of retailers are expected to adopt automation across all the key functions. The study further indicated that around 78% of the respondents would veer towards using kiosks to provide product-related information to their clients.
- Buoyed by the introduction of Amazon Go in the United States, several retailers are now exploring using automation to reduce operational costs and provide a seamless shopping experience to their shoppers. Amazon's entry into physical retail is also seen as a challenge for traditional stores as they now have to compete with established players with a strong distribution channel.
