AI Powered Checkout Market

AI-powered checkout is offered for completing the checkout process online as well as offline stores which avoid human errors and provides efficiency. The AI in the checkout process helps automates the complete operation catering specific requirement; it is broadly used in the retail stores, department stores and other shopping areas. With the AI-powered the consumers from shop can checkout without waiting in line for hours and without waiting for the turn to come for the checkout process. It provides the scalability, flexibility, insights and analytics of the operation required for the companies. AI-powered checkout offers several benefits such as faster and easy installment, avoiding the queue line in the shops, minimizing labor costs, enhancing the customer experience and increasing profit margins. They are thus growing acceptance of AI-powered checkout, which steers the growth of the AI-powered checkout market. Moreover, the rising digitalization in the retail stores, along with the increase in the number of retail stores, supermarkets and hypermarkets around the globe, offers a lucrative opportunity for the AI-powered checkout market vendors. Before the emergence of automation in the retail sector, retailers faced enormous pressure to meet customer expectations and improved organizational efficiencies. The AI-powered checkouts offer the ability to tackles all the challenges faced by them, further supporting them automate their workflows and various processes which ease their operations. Moreover, the advent of advanced technologies, such as AI, enables retail companies to fulfill the customer expectations by providing highly efficient services. Therefore, the increase in implementation of AI-powered checkouts in the retail sectors among several developed countries propels the market growth. On the other hand, the heavy cost incurred in installation of AI-powered checkouts will limit the market growth. 

In addition, the increasing impact of e-commerce and constant changes in consumer preferences are among the key factors which have results in stagnancy in the performance of the conventional retail sector. A few of the e-commerce market players are highly enlarging their offline business operations to protect a share larger than the present market share. Considering this, retailers operating across the world are also continuously seeking forward to adopt more effective strategies to accelerate their revenue growth.

The global AI-Powered Checkout Market is segregated on the basis of component as Solution and Services. Based on End-User the global AI-Powered Checkout Market is segmented in Supermarket and Hypermarket, Departmental Stores and Others.

The global AI-Powered Checkout Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The AI-Powered Checkout Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.

Competitive Analysis

Mashgin, Inc., AiFi Inc., FOCAL SYSTEMS INC., Accel Robotics Corporation, Toshiba Corporation and others are among the major players in the global AI-Powered Checkout Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.

• In January 2020, Focal Systems, the leading industry in retail automation solutions and Connors Group, an award-winning management consultancy expert in operational improvement and productivity improvement have declared a partnership which integrates the best of breed technology from Focal with operational best practices from Connors Group to provide impactful outcomes to retailers.
• In May 2021, Accel Robotics, a leading startup company for checkout-free retail solutions powered by computer vision and artificial intelligence, declared the soon-to-open Valet Market, an automated shopping experience for modern communities. Valet Market is an autonomous community market providing 1,500 square feet of retail space within Brookfield's luxury high-rise community,
• In May 2020, Standard Cognition (“Standard”), which offers the only autonomous checkout solution which can be quickly and easily integrated in retailers’ current stores, declared today that it has acquired Milan, Italy-based Checkout Technologies, which has developed Artificial Intelligence (AI) technology for retail frictionless checkout. 

The global AI-Powered Checkout Market has been segmented as below:

AI-Powered Checkout Market, By Component

• Solution
• Services

AI-Powered Checkout Market, By End-User

• Supermarket and Hypermarket
• Departmental Stores
• Others

AI-Powered Checkout Market, By Region

• Europe
• North America
• Asia Pacific
• Rest of The World

AI-Powered Checkout Market, By Company

• Mashgin, Inc.
• AiFi Inc.
• FOCAL SYSTEMS INC.
• Accel Robotics Corporation
• Toshiba Corporation
• Fujitsu Limited
• NCR Corporation
• Standard Cognition
• Trigo
• Zippin
• Amazon Go
• Imagr
• Wheelys 247
• Grabango
• Pensa

The report covers the below scope:

• Global AI-Powered Checkout Market sizes from 2020 to 2026, along with CAGR for 2020-2026
• Market size comparison for 2019 vs 2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2026
• Global AI-Powered Checkout Market trends, covering comprehensive range of consumer trends & manufacturer trends
• Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global AI-Powered Checkout Market
• Major market opportunities and challenges in forecast timeframe to be focused
• Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
• Comprehensive company profiles of the key industry players

The years considered for the study are as follows:

• Base year - 2019
• Estimated year - 2019
• Projected year - 2020
• Forecast period - 2021 to 2026

Report Scope:

The global AI-Powered Checkout Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global AI-Powered Checkout Market share. Major industry players with significant revenue share include Mashgin, Inc., AiFi Inc., FOCAL SYSTEMS INC., Accel Robotics Corporation, Toshiba Corporation and others.

Why to Buy this Report:

• Gain detailed insights on the AI-Powered Checkout industry trends
• Find complete analysis on the market status
• Identify the AI-Powered Checkout Market opportunities and growth segments
• Analyse competitive dynamics by evaluating business segments & product portfolios
• Facilitate strategy planning and industry dynamics to enhance decision making

Target Audience:

• The report targeted towards the existing players in the industry is as follows:
• Market Manufacturers/Service Providers
• Market Wholesale/Traders
• Investment and Financial Institutions

Free and Paid Customization based on the requirement

1.      Introduction

1.1.       Key Points

1.2.      Report Description

1.3.      Markets Covered

1.4.      Stakeholders

2.     Research Methodology

2.1.      Research Scope

2.2.     Research Methodology

2.2.1.     Market Research Process

2.2.2.    Research Methodology

2.2.2.1.           Secondary Research

2.2.2.2.          Primary Research

2.2.2.3.          Models for Estimation

2.3.     Market Size Estimation

2.3.1.     Bottom-Up Approach

2.3.2.    Top-Down Approach

3.     Executive Summary

4.    Market Overview

4.1.      Introduction

4.2.     Drivers

4.3.     Restraints

4.4.     Opportunities

4.5.     Challenges

5.     AI-Powered Checkout Market, By Component

5.1.      Key Points

5.2.  Solution

5.3.  Services

6.    AI-Powered Checkout Market, By End-User

6.1.      Key Points

6.2. Supermarket and Hypermarket

6.3. Departmental Stores

6.4. Others

7.     Competitive Landscape

7.1.      Introduction

7.2.     Start-up companies- AI-Powered Checkout Market

7.3.     Recent Developments

7.3.1.      Mergers & Acquisitions

7.3.2.     New Product Developments

7.3.3.     Portfolio/Production Capacity Expansions

7.3.4.     Joint Ventures, Collaborations, Partnerships & Agreements

7.3.5.     Others

8.    Company Profile

8.1.  Mashgin, Inc.

8.2. AiFi Inc.

8.3. FOCAL SYSTEMS INC.

8.4. Accel Robotics Corporation

8.5. Toshiba Corporation

8.6. Fujitsu Limited

8.7.  NCR Corporation

8.8. Standard Cognition

8.9. Trigo

8.10.    Zippin

8.11.     Amazon Go

8.12.    Imagr

8.13.    Wheelys 247

8.14.    Grabango

8.15.    Pensa