Global Smart Retail Market, By System (Digital Signage Solutions, Smart Labels, Smart Payment System, Intelligent Vending Machines, Augmented Reality Solutions, Virtual Reality Solutions, POS Solutions, Smart Carts, Robotics and Analytics), Application (Foot Traffic Monitoring, Inventory Management, Smart Fitting Rooms, Brand Protection, Predictive Equipment Maintenance and Loyalty Management and Payments), Retail Offering (Apparel and Accessories, Fast Moving Consumer Goods, Hardlines and Leisure Goods and Others), Technologies (Visual Recognition, Blockchain, Artificial Intelligence and Mobiles), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2027
Market Analysis and Insights: Global Smart Retail Market
Smart retail market is expected to grow at a CAGR of 23.7% in the forecast period of 2020 to 2027. Data Bridge Market Research report on smart retail market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Smart retail refers to an arrangement of keen advances which are intended to give a quicker, witted and more secure understanding to the clients while shopping. The worldwide market for keen retail frameworks is relied upon to develop fundamentally amid the gauge time frame.
Increasing use of robots and automation to offer convenience in shopping to customers, rising adoption of big data analytics and increased use of smart technologies due to the change in customer’s expectation are the factors driving the growth of smart retail market. Increased maintenance costs of advanced high-end computing system and high risk of customer data thefts are the factors restraining the smart retail market. Increase in number of smart stores to lead to rise in adoption of self-delivery vehicles act as an opportunity of smart retail market. Increase in instances of shoplifting is one of the challenges faced by the smart retail market.
This smart retail market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on small retail market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Smart Retail Market Scope and Market Size
Smart retail market is segmented on the basis of system, application, retail offering and technologies. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of system, smart retail market is segmented into digital signage solutions, smart labels, smart payment system, intelligent vending machines, augmented reality solutions, virtual reality solutions, POS solutions, smart carts, robotics and analytics. Digital signage solution is sub-segmented into displays, media players, PCs and set-top boxes, mounts and cables. Smart labels are sub-segmented into smart beacons, and electronic shelf labels. Smart payment system is sub-segmented into NFC-ready POS terminals, and NFC-ready MPOs terminals.
- Based on application, smart retail market is segmented into foot traffic monitoring, inventory management, smart fitting rooms, brand protection, predictive equipment maintenance and loyalty management and payments.
- Based on retail offering, smart retail market is segmented into apparel and accessories, fast moving consumer goods, hardlines and leisure goods and others.
- Based on technologies, smart retail market is segmented into visual recognition, blockchain, artificial intelligence and mobiles.
Smart Retail Market Country Level Analysis
Smart retail market is analysed and market size, volume information is provided by country, system, application, retail offering and technologies as referenced above.
The countries covered in the market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America will dominate the smart retail market because of the large number of supermarkets, hypermarkets, departmental stores and other types of retail stores that have implemented POS solutions, automatic storage and retrieval systems, smart carts, electronic shelf labels, and self-checkout systems in their premises.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Retail Market Share Analysis
Smart retail market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to small retail market.
The major players covered in the smart retail market report are Intel, IBM, Nvidia, Samsung Electronics, Microsoft, Google, PTC, Amazon, NXP Semiconductors, Cisco Systems, LG Display, Huawei Investment & Holding, Par Technology, Texas Instruments, Honeywell, Bosch Group, Softbank Robotics Holdings, Broadcom Limited, Ingenico, Verifone among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.