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Unmanned Stores Global Market Report 2024 Market 2024-2033 | Size, Share Analysis And Strategies
Unmanned Stores Global Market
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According to The Business Research Company's, The unmanned stores market size has grown exponentially in recent years. It will 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 in the historic period can be attributed to the implementation of self-checkout kiosks in supermarkets and retail stores, growing consumer preference for quick and easy shopping experiences, increasing interest in contactless shopping and payment options, rising labor costs and the need to optimize operational efficiency, reduce reliance on human labor.
The unmanned stores market size is expected to see exponential growth in the next few years. It will grow to $280.51 billion in 2028 at a compound annual growth rate (CAGR) of 34.3%. The growth in the forecast period can be attributed to the expansion of e-commerce giants, development of smart cities incorporating unmanned retail solutions, availability of high-speed internet, supply chain integration, last-mile delivery innovations, and focus on energy-efficient and sustainable retail solutions. Major trends in the forecast period include enhanced artificial intelligence algorithms, advances in computer vision technology, real-time inventory tracking, focusing on data privacy and security, and eco-friendly solutions.
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Market Drivers and Trends:
The increasing popularity of e-commerce is expected to propel the growth of the unmanned stores market going forward. E-commerce, or electronic commerce, refers to the buying and selling of goods or services using the internet or other electronic means. The popularity of e-commerce is rising due to its convenience, wide product selection, and the ability to shop from anywhere at any time. E-commerce drives the development of unmanned stores by fostering consumer expectations for seamless, automated, and convenient shopping experiences. For instance, in May 2024, according to the United States Census Bureau, a US-based government agency, in the first quarter of 2024, U.S. retail e-commerce sales totaled $289.2 billion, showing a 2.1% increase from the fourth quarter of 2023. During the same period, total retail sales increased by 1.5%. E-commerce sales in the first quarter of 2024 constituted 15.9% of total retail sales. Therefore, the increasing popularity of e-commerce is driving the growth of the unmanned stores market.
Major companies operating in unmanned stores are focusing on developing advanced technologies, such as RFID-enabled micro-stores designed for contactless on-the-go purchasing, to gain a competitive edge in the market. RFID-enabled microstores are compact retail spaces that utilize radio frequency identification (RFID) technology to streamline operations, enhance inventory management, and improve the overall shopping experience. For instance, in May 2022, Selfly Store, a Finland-based vending machine provider, launched a new intelligent cabinet series for automated, unmanned retail. Selfly Store's new intelligent cabinet series utilizes cutting-edge RFID, sensors, cloud computing, and IoT technologies to enhance consumer convenience. These unmanned, fully digitalized cabinets enable cost-efficient meal and snack offerings in hotels, offices, and other venues. The range includes Selfly Fresh for room-temperature goods, Selfly Cool for refrigerated items, and Selfly Frozen for frozen products.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Amazon.com Inc., Alibaba Group Holding Limited, 7-Eleven Inc., Panasonic Holdings Corporation, Toshiba Corporation, Trigo Group, Scandit AG, Zippin, Delfi Technologies, Accel Robotics Corporation, Turck Vilant Systems Oy, AiFi Inc., Sensei LLC, SandStar, Wheelys, PIXEVIA, Grabango, MishiPay Ltd., Pick and GO, Cloudpick AI
Unmanned Stores Market 2024 Key Insights:
• The unmanned stores market size is expected to see exponential growth in the next few years. It will grow to $280.51 billion in 2028 at a compound annual growth rate (CAGR) of 34.3%.
• E-commerce Propel Growth Of The Unmanned Store Market
• RFID Technology Enhancing Efficiency In Unmanned Retail
• North America was the largest region in the unmanned stores market in 2023
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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