North America and Europe Retail Automation Market Set to Soar, Projected CAGR of 9.6% Leading to a $43.78 Billion Industry by 2033

The North America and Europe retail automation market is on fire with revenue projected to surge from US $17.45 billion in 2023 to an outstanding US $43.78 billion by 2033.

Increasing adoption of e-commerce platforms creates opportunities in the automation market as automation can help retailers manage their online orders. But the implementation cost of automation solutions can be expensive which makes restraint for this market as many small businesses may not go for this due to high cost.

Market Opportunities

The North America and Europe retail automation market is expanding with an outstanding CAGR value of 9.6% which is the key factor of having many opportunities in the market.

There is an increasing demand for contactless and self-service technologies which can improve customer experience as well as reduce the cost. Further, this creates opportunities in North America and Europe Retail Automation markets. E-commerce is also growing day by day which can bring many opportunities for automation solutions.

Key Takeaways

• The North America and Europe retail automation market is anticipated to expand at a CAGR of 9.6% from 2023 to 2033.
• North America’s retail automation market is notable in the world with a market share of 57.6%. This is due to the region’s strong economic growth, the high penetration of e-commerce, and the increasing adoption of automation technologies by retailers.
• Europe’s retail automation market is the second leading market in the world with a market share of 42.4%. This is due to the region’s strong retail infrastructure, the growing popularity of omnichannel retail, and the increasing adoption of automation technologies by retailers.
• The United States retail automation market is the third leading market in the world with a market share of 34.3%, which is due to the region’s large population, and retailers increasing adoption of automation technologies.
• Germany’s retail automation market is the fourth leading market in the world with a market share of 13.6%. This is due to the region’s strong economy and the high penetration of e-commerce in Germany.

Competitors Winning Strategies
Competitors in North America and Europe retail automation market are focusing on improving customer experience which is most important for businesses. They are also focusing on supply chains.

Competitors are building partnerships with other companies, businesses, and markets which allow them to get new customers from other markets and also help retailers to get access to the latest technologies and expertise.

Recent Developments

• Amazon: Launched its first cashierless convenience shop in London, the United Kingdom, dubbed Amazon Go. The store utilizes a variety of sensors and cameras to follow consumers while they purchase and instantly charges their Amazon account when they leave.
• Walmart: Revealed that the company is testing self-driving delivery cars in Arkansas. The cars are being developed by Walmart’s Autonomous Vehicle Technology Lab, and are meant to carry goods to customers’ houses.
• Target: Invested $10 billion in the supply chain over the following three years, with an emphasis on automation. The investment is going to be used to automate several processes, such as selecting and packaging orders and loading and unloading vehicles.
• The Retail Industry Leaders Association (RILA): Published a study on the future of retail automation. The survey revealed that automation is becoming more significant in the retail business and that merchants are investing extensively in automation technology.