The Unmanned Stores Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Unmanned Stores Global Market Report 2024, 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.
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.
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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
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.
The unmanned stores market report table of contents includes:
1. Executive Summary
2. Unmanned Stores Market Characteristics
3. Unmanned Stores Market Trends And Strategies
4. Unmanned Stores Market – Macro Economic Scenario
5. Global Unmanned Stores Market Size and Growth
………………………………….
32. Global Unmanned Stores Market Competitive Benchmarking
33. Global Unmanned Stores Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Unmanned Stores Market
35. Unmanned Stores Market Future Outlook and Potential Analysis
36. Appendix
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