AI-Powered Checkout Market Key Companies and SWOT Analysis by 2027

Name: AI-Powered Checkout Market Strategic Insights by 2027
Creator: The Insight Partners
License: https://www.theinsightpartners.com/privacy-policy

Historic Data: 2019-2020 | Base Year: 2021 | Forecast Period: 2022-2027

AI-Powered Checkout Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Component (Solution, Services); and End-user (Supermarket and Hypermarket, Departmental Stores, and Others)

Report Date : Sep 2020
Report Code : TIPRE00013568

Category : Technology, Media and Telecommunications
Status : Published

Available Report Formats :
No. of Pages : 139

Analysis Strategic Insights Market Drivers Regional Insights Report Scope Recent Developments FAQs

The AI-powered checkout market was valued US$ 169.94 million in 2021 and it is expected to grow at a CAGR of 37.2% during the forecast period of 2021 to 2027.

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.

The pandemic COVID-19 continues to enforce the temporary closure of retail stores in the global market, 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 at the beginning of March, and this trend is expected to continue as cities and states battle to contain the spread of the virus.

The market for AI-powered checkout has been segmented based on component, end-user, and geography. Based on component, the market is segmented into solution and services. The solution segment represented the largest share of the overall market throughout the forecast period, owing to the increasing number of technology advancements in machine vision, facial recognition, shelf sensors, barcodes, quick response (QR) codes, and RFID tags. However, services segment is expected to be the fastest-growing AI-powered checkout component. Further, the AI-powered checkout market is segmented into the supermarket and hypermarket, departmental stores, and others based on the end-user. In 2019, supermarket and hypermarket held a substantial share in the global AI-powered checkout market. While others segment is anticipated to grow at the highest CAGR from 2020 to 2027.

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AI-Powered Checkout Market: Strategic Insights

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AI-Powered Checkout Market Insights

Increase in Adoption of New Technologies in Retail Sector

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. 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.

Component -Based Market Insights

Based on component, the AI-powered checkout market is segmented into solution and services. AI-powered checkout solution is provided to different retail outlets. This help the retailers to deliver greater shopping experience to the customers by eliminating need to standing in long-queues for making payments of the items purchased. Moreover, this software is provided with an array of services which assist the retailers to solve their grievances whenever they need.

End User -Based Market Insights

Based on end user, the AI-powered checkout market is segmented into departmental store, supermarket and hypermarket, and others. The AI-powered checkout solution is gaining high momentum across different retail outlets to eliminate a need to stand in long-queues for making payments. With the rising number of retail outlets, the scope of integrating advanced and autonomous technologies in them is increasing.

Players operating in the AI-powered checkout market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the AI-powered checkout market. A few developments by key players of the AI-powered checkout market are:

In July 2020, AiFi announced plans to deploy 330 new and retrofitted autonomous stores by the end of 2021.

In January 2020, Focal Systems announced a partnership with Connors Group to provide impactful results to retailers by combining the technologies of both the companies.

AI-Powered Checkout Market Regional Insights

The regional trends and factors influencing the AI-Powered Checkout Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses AI-Powered Checkout Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

ai-powered-checkout-market-global-geography

Get the Regional Specific Data for AI-Powered Checkout Market

AI-Powered Checkout Market Report Scope

Report Attribute	Details
Market size in 2021	US$ 169.94 Million
Market Size by 2027	US$ 1,182.81 Million
Global CAGR (2021 - 2027)	37.2%
Historical Data	2019-2020
Forecast period	2022-2027
Segments Covered	By Component Solution Services By End-user Supermarket and Hypermarket Departmental Stores
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Mashgin, Inc. AiFi Inc. FOCAL SYSTEMS INC. Accel Robotics Corporation Toshiba Corporation Fujitsu Limited NCR Corporation Standard Cognition Trigo

AI-Powered Checkout Market Players Density: Understanding Its Impact on Business Dynamics

The AI-Powered Checkout Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the AI-Powered Checkout Market are:

Mashgin, Inc.
AiFi Inc.
FOCAL SYSTEMS INC.
Accel Robotics Corporation
Toshiba Corporation

Disclaimer: The companies listed above are not ranked in any particular order.

Get the AI-Powered Checkout Market top key players overview

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 Geography

North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Spain
- UK
- Russia
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- Japan
- Australia
- South Korea
- Rest of APAC
MEA
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
SAM
- Brazil
- Rest of SAM

AI-Powered Checkout Market – Company Profiles

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

Research Manager

Ankita Mittal

Manager,
Market Research & Consulting

Ankita is a dynamic market research and consulting professional with over 8 years of experience across the technology, media, ICT, and electronics & semiconductor sectors. She has successfully led and delivered 100+ consulting and research assignments for global clients such as Microsoft, Oracle, NEC Corporation, SAP, KPMG, and Expeditors International. Her core competencies include market assessment, data analysis, forecasting, strategy formulation, competitive intelligence, and report writing.

Ankita is adept at handling complete project cycles—from pre-sales proposal design and client discussions to post-sales delivery of actionable insights. She is skilled in managing cross-functional teams, structuring complex research modules, and aligning solutions with client-specific business goals. Her excellent communication, leadership, and presentation abilities have enabled her to consistently deliver value-driven outcomes in fast-paced and evolving market environments.

What are the AI-Powered Checkout Market report deliverables?

Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
PEST and SWOT Analysis
Market Size Value / Volume - Global, Regional, Country
Industry and Competitive Landscape
Excel Dataset

AI-Powered Checkout Market Report Snapshots

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