AI-Powered Checkout Market - Detailed Analysis of Current and Future Industry Figures till 2027 | Accel Robotics, AiFi, Caper, Focal Systems, Grabango, Mashgin, Pensa Systems, Standard Cognition, Trigo, Zippin
The AI-powered checkout market was valued at US$ 97.88 million in 2019 and is expected to reach US$ 1,182.81 million by 2027; it is estimated to grow at a CAGR of 37.2% during 2020–2027.
AI-powered checkout enabling autonomous checkout with modern AI-powered computer vision platform for brick & mortar retailers. AI-powered checkout uses cameras and image recognition to track what people pick up and ring up all the items people take off shelves. By implementation of this solution, customers can walk in, pick-up what they need, and leave without stopping to scan and pay or waiting in line. It automatically bills customers as they leave the store. Increasing advancement in technology and growing acceptance of the autonomous system is driving the growth of the AI-powered checkout market.
AI-powered checkout provides various benefits such as can be quickly and easily installed, reduce the queue line in the shops, and reduce labor costs, improve the customer experience, and improve profit margins. Thereby, increasing acceptance of AI-powered checkout which triggering the growth of the AI-powered checkout market. Further, growing digitalization in the retail stores coupled with the increase in the number of retail stores, supermarkets, hypermarkets across the globe provides a lucrative opportunity for the market player of the AI-powered checkout market.
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The reports cover key developments in the AI-Powered Checkout market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from AI-Powered Checkout market are anticipated to lucrative growth opportunities in the future with the rising demand for AI-Powered Checkout market in the global market.
Key Players Influencing the Market
• Accel Robotics Corporation
• AiFi Inc.
• Caper Inc.
• Focal Systems Inc.
• Grabango Co.
• Mashgin, Inc.
• Pensa Systems
• Standard Cognition, Corp.
The “Global AI-Powered Checkout Market Analysis to 2027” is a specialized and in-depth study of the technology, media and telecommunications industry with a special focus on the global market trend analysis. The report aims to provide an overview of AI-Powered Checkout market with detailed market segmentation by component, deployment type, industry vertical, and geography. The global AI-Powered Checkout market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading AI-Powered Checkout market players and offers key trends and opportunities in the market.
The global AI-powered checkout market is segmented on the basis of component, end-user. On the basis of component the market is segmented as solution, services. On the basis of end-user the market is segmented as departmental store, supermarket, hypermarket, others.
Besides this, the report analyzes factors affecting AI-Powered Checkout market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions considered in the Global AI-Powered Checkout Market report.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global AI-Powered Checkout market based on the type and application. It also provides market size and forecast till 2027 for overall AI-Powered Checkout market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
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Answers that the report acknowledges:
• Market size and growth rate during forecast period.
• Key factors driving the AI-Powered Checkout Market.
• Key market trends cracking up the growth of the AI-Powered Checkout Market.
• Challenges to market growth.
• Key vendors of AI-Powered Checkout Market.
• Detailed SWOT analysis.
• Opportunities and threats faces by the existing vendors in Global AI-Powered Checkout Market.
• Trending factors influencing the market in the geographical regions.
• Strategic initiatives focusing the leading vendors.
• PEST analysis of the market in the five major regions.
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