The smart retail market size reached USD 23.40 Billion in 2021 and is expected to register a revenue CAGR of 22.9% during the forecast period to the latest analysis by Emergen Research. The increasing adoption of modern technological advancements is a major driving factor behind the revenue growth of the global market. Besides, the multiple features and benefits offered by smart retail solutions are expected to create several opportunities for major market players. Traditional, printed price tags are difficult to keep up with and don’t promote the image of a technologically savvy company. Furthermore, printing, mailing, and putting in-store pricing cards is a time-consuming and error-prone operation. Smart retail technology, such as dynamic digital pricing, eliminates the burden of printed price tags while making it much easier to maintain pricing consistency across online and in-store channels. Smart retail technology, such as content synchronization, helps carriers capture the attention of purpose-driven consumers by delivering engaging video content across all devices. Blank screens provide no value to the customer experience, and generic Original Equipment Manufacturer (OEM) information is less than ideal and causes visual clutter in stores.
The Global Smart Retail Market report presents comprehensive information covering insightful data for businesses and investors for the time period of 2022-2030. The report studies the historical data of the Smart Retail market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects. The report offers an accurate forecast estimation of the Smart Retail industry based on the recent technological and research advancements. It also offers valuable data to assist the investors in formulating strategic business investment plans and capitalize on the emerging growth prospects in the Smart Retail market.
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Top competitors of the Smart Retail Market profiled in the report include:
Walmart Inc., Cisco Systems, Huawei Technologies Co. Ltd., Intel Corporation, Samsung Electronics, NVIDIA Corporation. Alibaba Group Holding Limited, Amazon.com, Inc., IBM Corporation, and Google LLC.
Some Key Highlights From the Report
- The hardware segment is expected to register a steady growth throughout the forecast period due to the widespread adoption of the Internet of Things (IoT) to accumulate data through several access points and enhanced communication through Bluetooth beacons
- The robotics segment is expected to register considerable growth. The use of autonomous robots mainly trollies and delivery racks in retail stores are gaining popularity due to their speed, productivity, and ease of use.
- The market in North America is expected to register considerable growth due to the increasing adoption of Artificial Intelligence (AI) and Virtual Reality (VR) to enhance the efficiency of distribution channels and communication networks
- On 16 March 2021, Sensormatic Solutions, a division of Johnson Controls, has teamed together with Intel to digitally change retail and improve the customer experience. As a result of the partnership, customers may make well-informed business decisions, resulting in good outcomes.
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The report further offers a complete value chain analysis along with an analysis of the downstream buyers and upstream raw materials. The study focuses on global trends, regulatory frameworks, and macro- and micro-economic factors. The report also provides an extensive analysis of the segment and sub-segmented expected to dominate the market over the projected period. The report offers a forecast estimation of the market with regards to the analysis of the market segmentation, including product type, end-user industries, application spectrum, and other segments.
Emergen Research has segmented the Smart Retail market on the basis of solution, application, and region:
- Solution Outlook (Revenue, USD Billion; 2019–2030)
- Application Outlook (Revenue, USD Billion; 2019–2030)
- Visual Marketing
- Smart Label
- Smart Payment System
Regional Analysis of the Smart Retail Market:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The research report on the Smart Retail market is formulated through extensive primary and secondary research along with qualitative and quantitative analysis of vital aspects of the market. The insightful data is further validated and verified by the industry professionals. The report strives to offer deeper insights into the overall market scenario of the Smart Retail business sphere.
Key Objectives of the Report:
- Analysis and estimation of the Smart Retail market size and share for the projected period of 2022-2030
- Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
- Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Smart Retail market
- Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
- Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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