Global Autonomous Checkout Market Size, Share, and COVID-19 Impact Analysis, By Type (RFID, Computer Visual Tracking Device, Cameras & Sensors, and others), By Components (Hardware and Software), By Application (Retail Stores, Grocery Stores & Supermarkets, Departmental Stores, and Vending Machine) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033

Industry: Electronics, ICT & Media

RELEASE DATE Jan 2024
REPORT ID SI3573
PAGES 200
REPORT FORMAT PathSoft

Global Autonomous Checkout Market Size Insights Forecasts to 2033

  • The Global Autonomous Checkout Market Size was Valued at USD XX Billion in 2023.
  • The Market Size is Growing at a CAGR of XX% from 2023 to 2033.
  • The Worldwide Autonomous Checkout Market Size is Expected to Reach USD XX Billion by 2033.
  • Europe is expected to grow the fastest during the forecast period.

Global Autonomous Checkout Market

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The Global Autonomous Checkout Market Size is Anticipated to Exceed USD XX Billion by 2033, Growing at a CAGR of XX% from 2023 to 2033.

 

Market Overview

The term "autonomous checkout" describes a technology-driven retail environment in which patrons may browse merchandise and finish their transactions without having to deal with counter personnel or self-checkout machines. The idea is based on the efficient and smooth creation of a shopping experience through the integration of many technologies. autonomous checkout has many advantages, including being quick and simple to implement, cutting down on store lines, saving labor expenses, enhancing customer satisfaction, and increasing business margins. As a result, the boosting adoption of autonomous checkout propels the industry's expansion. Further, expanding digitalization in retail stores, along with the expansion in the number of retail outlets, supermarkets, and hypermarkets around the globe, provides an income stream for the autonomous checkout market player. Given that the most significant technical advancements in the retail sector have revolved around autonomous checkout, it is evident that retailers are aiming for this trend both now and in the forecast period.

 

Report Coverage

This research report categorizes the market for the global autonomous checkout market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global autonomous checkout market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global autonomous checkout market.

 

Global Autonomous Checkout Market Report Coverage

Report CoverageDetails
Base Year:2023
Market Size in 2023:USD XX Billion
Forecast Period:2023-2033
Forecast Period 2023-2033 CAGR: XX%
2033 Value Projection:USD XX Billion
Historical Data for:2019-2022
No. of Pages:200
Tables, Charts & Figures:115
Segments covered:By Type, By Components, By Application, By Region
Companies Covered:Toshiba Corporation, Accel Robotics Corporation, Trigo, Zippin, AiFi Inc., FOCAL SYSTEMS INC., NCR Corporation, Standard Cognition, Fujitsu Limited, Mashgin, Inc., and other key companies.
Pitfalls & Challenges:Covid-19 Empact,Challenges,Growth, Analysis.

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Driving Factors

The main factors influencing the need for autonomous checkout internationally are an increase in consumer demand and the fact that many consumers are utilizing it as an alternative. Retailers can handle a greater number of transactions with automation and less staffing. This effectiveness standardizes the checkout procedure and reduces human error. Over the projected timeframe, there will be a global increase in demand for autonomous checkout systems.

 

Restraining Factors

The market will be hampered by the elevated danger of theft and the extremely high cost of the automated checkout system. The market for autonomous checkout will expand more slowly because of a decrease in human interaction. The main difficulty with autonomous checkout is that it can become stalled automatically due to technical problems.

 

Market Segmentation

The global autonomous checkout market share is classified into types, components, and applications.

  • The RFID segment is expected to grow at the fastest pace in the global autonomous checkout market during the forecast period.   

Based on the type, the global autonomous checkout market is divided into RFID, computer visual tracking devices, cameras & sensors, and others. Among these, the RFID segment is expected to grow at the fastest pace in the autonomous checkout market during the forecast period. Along with enhancing other technologies, RFID tags allow for precise and effective item monitoring. They also help with real-time inventory management, which helps businesses keep an eye on stock levels and minimize the number of out-of-stock products. As a result, over the projected period, the RFID sector in the worldwide autonomous checkout market is expanding at the fastest rate.

 

  • The hardware segment is expected to hold the largest share of the global autonomous checkout market during the forecast period.    

Based on the components, the global autonomous checkout market is divided into hardware and software. Among these, the hardware segment is expected to hold the largest share of the autonomous checkout market during the forecast period. To implement autonomous checkout systems and provide a unified and effective solution, hardware components must be intricately integrated. Implementing autonomous checkout involves a lot of work with the physical infrastructure, including where cameras and sensors are placed. Retailers spend money on these hardware parts to build a functional system.  As a result, the hardware segment is predicted to hold the greatest share of the global autonomous checkout market.

 

  • The grocery stores & supermarkets segment is expected to grow at the fastest pace in the global autonomous checkout market during the forecast period.

Based on the application, the global autonomous checkout market is divided into retail stores, grocery stores & supermarkets, departmental stores, and vending machines. Among these, the grocery stores & supermarkets segment is expected to grow at the fastest pace in the autonomous checkout market during the forecast period. Due to the ongoing global focus on contactless solutions, there is an increasing need for autonomous checkout in grocery stores and supermarkets, which allows customers to complete their purchases without physically interacting with traditional checkout counters. Supermarkets and grocery businesses frequently handle high transaction volumes with many products per customer. When autonomous checkout technologies are used, customers may spend a lot less time in checkout queues, increasing productivity. As a result, the grocery stores and supermarket segment of the global autonomous checkout industry is expanding rapidly.

 

Regional Segment Analysis of the Global Autonomous Checkout Market

  • North America (U.S., Canada, Mexico) 
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Rest of APAC)
  • South America (Brazil and the Rest of South America) 
  • The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

North America is anticipated to hold the largest share of the global autonomous checkout market over the predicted timeframe.

North America is anticipated to hold the largest share of the global autonomous checkout market over the predicted timeframe. This is because of early adoption, innovation, presence of key players in the region. The United States in particular has been a pioneer in the use of autonomous checkout technology in North America. The area has produced a large number of merchants and technological firms that have led the way in innovation in this field. In North America, merchants, startups, and major technology corporations have all made significant investments in and implemented autonomous checkout systems. The region's significant market share has been facilitated by the presence of important firms.

Europe is expected to grow at the fastest pace in the global autonomous checkout market during the forecast period. The reason behind this is the testing and implementation of autonomous checkout systems have received regulatory approval from a few European nations. By promoting innovation and acceptance, a supportive regulatory framework could accelerate market expansion.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global autonomous checkout along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • Toshiba Corporation
  • Accel Robotics Corporation
  • Trigo
  • Zippin
  • AiFi Inc.
  • FOCAL SYSTEMS INC.
  • NCR Corporation
  • Standard Cognition
  • Fujitsu Limited
  • Mashgin, Inc.

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting And Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Recent Developments

  • In February 2023, the 100th checkout-free store opened, and AiFi, the top AI supplier enabling retailers globally to expand autonomous shopping solutions with 100% computer vision, welcomed Joe Jorczak as its Head of Global Revenue to assist the company's global expansion.

 

  • In March 2022, while it looked into possibilities for a larger rollout, BP announced the installation of Mashgin's artificial intelligence (AI) self-checkout equipment at four AMPM convenience outlets. Between April and June of 2022, the technology has gone online in Fairfield, Elk Grove, Pleasanton, and Millbrae in Northern California. Mashgin's checkout system is an AI-powered touchless self-checkout that employs computer vision to rapidly scan items for payment.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Autonomous Checkout Market based on the below-mentioned segments: 

 

Global Autonomous Checkout Market, By Type

  • RFID
  • Computer Visual Tracking Device
  • Cameras & Sensors
  • others

 

Global Autonomous Checkout Market, By Components

  • Hardware
  • Software

 

Global Autonomous Checkout Market, By Application

  • Retail Stores
  • Grocery Stores & Supermarkets
  • Departmental Stores
  • Vending Machine

 

Global Autonomous Checkout Market, By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of the Middle East & Africa

Frequently Asked Questions (FAQ)

  • 1. Which are the key companies that are currently operating within the market?
    Toshiba Corporation, Accel Robotics Corporation, Trigo, Zippin, AiFi Inc., FOCAL SYSTEMS INC., NCR Corporation, Standard Cognition, Fujitsu Limited, Mashgin, Inc., and others.
  • 2. What is the size of the global autonomous checkout market?
    The Global Autonomous Checkout Market is expected to grow from USD XX Billion in 2023 to USD XX Billion by 2033, at a CAGR of XX% during the forecast period 2023-2033.
  • 3. Which region holds the largest share of the market?
    Europe is anticipated to hold the largest share of the global autonomous checkout market over the predicted timeframe.

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