AI-Powered Checkout Market Size, Share, Trends Evaluation, Geographical Segmentation, Business Challenges, and Investment Opportunities Analysis till 2028

The AI-powered checkout market size is expected to reach US$ 1,182.81 million by 2027 and registering at a CAGR of 37.2% during the forecast period of 2021 to 2027, according to a new research study conducted by The Insight Partners.

AI-powered checkout provides various benefits such as quickly and easily installed, reducing the queue line in the shops, reducing labor costs, improving the customer experience, and improving profit margins. They are thereby increasing acceptance of AI-powered checkout, which triggers 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, and hypermarkets across the globe, provides a lucrative opportunity for the AI-powered checkout market player

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The report segments the global Market as follows:

By Component (Solution, Services)
By End-user (Supermarket and Hypermarket, Departmental Stores, and Others)

The rising impact of e-commerce and continuous changes in consumer preferences are among the primary reasons that have led to stagnancy in the performance of the traditional retail sector. A few of the e-commerce market players are vigorously expanding their offline business operations to secure a share larger than the existing market share. Considering this, retailers operating worldwide are also continually looking forward to adopting more effective strategies to drive their revenue growth.

The Key Players in The Global Market Are: 

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

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Before the introduction of automation in the retail sector, retailers faced tremendous pressure to surpass customer expectations and enhance organizational efficiencies. The AI-powered checkouts provide the ability to overcome all the challenges faced by them, further helping them automate their workflows and multiple processes that ease their operations. Further, the emergence of advanced technologies, such as AI, allows retail companies to meet customer expectations by offering highly efficient services. Thus, the rise in implementation of AI-powered checkouts in the retail sectors across several developed countries drives the market growth.

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COVID-19 Impact on AI-Powered Checkout Market

At present, North America is the largest market in terms of revenue share of global AI-powered checkout market. The region is characterized by the presence of developed nations such as the US and Canada, where the demand for technology solutions & services is quite high owing to the huge presence of companies from various industry sectors. The COVID-19 pandemic continues to enforce the temporary closure of retail stores in the countries of North America, signaling an unprecedented disruption of commerce. Retailers and brands are facing various short-term challenges regarding health and safety, supply chain, labor force, cash flow, consumer demand, and marketing.

In North America, stores started closing in the beginning of March, and this trend is expected to continue as cities and states battle to contain the spread of COVID-19. For instance, out of 26 Amazon Go, the AI-powered checkout, 22 stores have been shut down as people have been asked to not leave their houses. Further, COVID-19 pandemic is rapidly accelerating the tradition of digital commerce. As people are being told to follow social distancing, e-commerce orders for essentials and groceries have become a survival tool for the people in America.

The Insight Partners AI-Powered Checkout Market Research Report Scenario includes:

•The report provides qualitative and quantitative trends of global AI-Powered Checkout Market across type, type of products, service, and geography.
•The report starts with the key takeaways (Chapter Two), highlighting the key trends and outlook of the global AI-Powered Checkout Market.
•Chapter Three provides the research methodology of the study.
•Chapter Four further provides PEST analysis for each region.
•Chapter Five highlights the key industry dynamics in the AI-Powered Checkout Market, including factors that are driving the market, prevailing deterrent, potential opportunities as well as future trends. Impact analysis of these drivers and restraints is also covered in this section.
•Chapter Six discusses the global AI-Powered Checkout Market scenario, in terms of historical market revenues, and forecast till the year 2027.
•Chapter Seven to ten discuss AI-Powered Checkout Market segments by type, type of application, service, and geography across North America, Europe, Asia-Pacific, Middle East and Africa, South and Central America. They cover market revenue forecast, and factors driving and governing growth.
•Chapter Eleven describes the industry landscape analysis. It provides detailed description of various business activities such as market initiatives, new developments, mergers and joint ventures globally along with a competitive landscape.

Contact Us:
If you have any queries pertaining to the report or would like further information, feel free to reach out to us at-
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

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The Insight Partners is a one stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialist in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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This release was published on openPR.