What Is The Overview Of The Global Unmanned Stores Market?
Unmanned stores, or automated or cashier-less stores, refer to retail establishments that operate without traditional human cashiers or checkout counters. These stores typically use advanced technologies such as computer vision, sensors, and artificial intelligence to track items selected by customers and automatically charge them through digital payment systems.
Unmanned Stores Global Market Report 2024 provides data on the global unmanned stores market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The unmanned stores market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Expected Annual Growth Rates And Market Size Estimates For The Global Unmanned Stores Sector?
The unmanned stores market has grown exponentially in recent years. It is expected to grow from $64.29 billion in 2023 to $86.26 billion in 2024, at a compound annual growth rate (CAGR) of 34.2%. The growth has been driven by the introduction of self-checkout kiosks in supermarkets and retail stores, increasing consumer preference for quick and convenient shopping, growing interest in contactless shopping and payment methods, rising labor costs, and the need to optimize operational efficiency and reduce human labor reliance. The market is expected to continue its exponential growth, reaching $280.51 billion by 2028, at a CAGR of 34.3%. The forecasted growth is attributed to the expansion of e-commerce giants, the development of smart cities, availability of high-speed internet, innovations in last-mile delivery, and the focus on energy-efficient and sustainable retail solutions. Key trends for the forecast period include the advancement of AI algorithms, computer vision technology, real-time inventory tracking, emphasis on data privacy and security, and eco-friendly solutions."
Which Factors Are Boosting Growth In The Unmanned Stores Market?
The growing popularity of e-commerce is anticipated to boost the development of unmanned stores. E-commerce, which facilitates buying and selling online, has gained widespread acceptance due to its convenience, extensive product selection, and the ability to shop from anywhere. This trend supports the rise of unmanned stores by encouraging automated and seamless shopping experiences. For example, in May 2024, the U.S. Census Bureau reported that retail e-commerce sales in the first quarter of 2024 reached $289.2 billion, representing a 2.1% increase from the previous quarter. E-commerce sales accounted for 15.9% of total retail sales during the same period. Thus, the growing popularity of e-commerce is driving the unmanned store market.
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What Key Areas Define The Segmentation Of The Global Unmanned Stores Market?
The unmanned stores market covered in this report is segmented –
1) By Store Type: Fully Automated, Semi-Automated Self-Service Kiosks
2) By Payment Mode: Cashless, Cash
3) By Offering: Solution, Services
4) By Deployment: Indoor, Outdoor
5) By End-User Industry Application: Hospitality And Restaurant, Health And Pharmaceutical, Fast-Moving Consumer Goods, Other End User Industry Applications
How Are Emerging Trends Reshaping The Dynamics Of The Unmanned Stores Market?
Companies in unmanned stores are leveraging advanced technologies like RFID-enabled micro-stores for contactless purchasing to stay competitive. These micro-stores use RFID technology to automate inventory and improve the shopping experience. For example, in May 2022, Selfly Store, a Finland-based vending machine provider, launched an intelligent cabinet series for unmanned retail. These RFID-enabled cabinets use sensors, cloud computing, and IoT technologies to offer consumers a convenient, contactless shopping experience, including options for refrigerated, room-temperature, and frozen goods.
Which Region Has The Fastest Expansion In The Unmanned Stores Market?
North America was the largest region in the unmanned stores market in 2023. The regions covered in the unmanned stores market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
