North America and Europe Retail Automation Market to Reach $43.78 Billion by 2033

The North America and Europe retail automation market is set to experience significant growth, with a projected CAGR of 9.6% from 2023 to 2033, ultimately reaching a valuation of US$ 43.78 billion by 2033. In 2023, the market is estimated to be worth US$ 17.45 billion.

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Key Takeaways:

• The North America and Europe retail automation market is projected to grow at a CAGR of 9.6% from 2023 to 2033, reaching a value of US$ 43.78 billion by 2033.
• Emerging trends such as visual merchandising, planograms, and big data integration are driving demand for automated services in the retail sector.
• Automation offers benefits such as streamlined business operations, efficient supply chains, and faster sales processes, leading to increased retailer revenues.
• The competitive landscape is characterized by innovation and strategic partnerships, with a focus on scalability and customization.
• Challenges include data security concerns, initial investment requirements, and the need for workforce upskilling.

Start-up Ecosystem:

When creating a new startup, there are many factors to take into account, including how to validate your idea, where to find funding, and what features the product should have.

• Sequoia Capital led Series F investment round at Faire, the online wholesale marketplace that connects more than 200,000 retailers in North America and Europe with 20,000 brands from over 80 countries, closed for $260 million. The funding values Faire at $7 billion, nearly tripling its previous valuation of $2.5 billion announced just over six months ago.
• Grabango, a pioneer in checkout-free technology for grocery and convenience stores already in operation, revealed that it had secured $39 million in Series B funding.
• Stackline, a Seattle-based technology company that creates subscription-based ecommerce tools for thousands of the biggest consumer brands and retailers, today announced that TA Associates, a top global growth private equity firm, has made a $130 million strategic investment in the company.
• A strategic partnership between Mastercard and CleverCards has been established to increase the use of digital cards throughout Europe. The agreement comes as CleverCards joins Mastercard’s Fintech Express programme, enabling CleverCards to streamline the payments value chain across Europe and enable businesses to instantly pay anyone, anywhere, at any time.

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Competitive Landscape:

Some of the leading players in the North America and Europe retail automation market are electronic firms like Seiko Epson, Fujitsu, First Data Corp., Siemens, Toshiba, and Wincor Nixdorf. Since the majority of these ICT companies have their headquarters in Europe, the continent serves as a reliable foundation for new businesses and manufacturers in the retail automation industry.

Restraints:

While the North America and Europe retail automation market show immense promise, certain challenges must be navigated. These include concerns related to data security, the initial investment required for automation implementation, and the need for workforce upskilling to operate advanced automated systems. Overcoming these barriers will be essential to unlock the full potential of the retail automation market in this region.

Region-wise Insights – Category-wise Insights:

Within North America and Europe, specific regions and categories exhibit varying degrees of adoption and growth in retail automation. Market dynamics and consumer preferences can differ significantly between regions and product categories. In-depth analysis is essential to tailor automation strategies to specific geographic areas and product segments, ensuring maximum impact and returns.