The global smart retail market anticipated to influence due to changing buying behaviour of customers leads to the use of smart technologies by retailers and growing use of robots and automation by retailers to offer shopping convenience to customers
The global smart retail market generated size was estimated to generate USD 79.84 billion by 2028, registering a CAGR of 19.99% during the forecast period. The primary factors are changing customer preferences related to real-time engagement, differentiated personalization, relevant recommendations, and value-oriented shopping. The surge in the applications of technologies such as augmented reality, virtual reality, artificial intelligence, and IoT to improve store operations, facilitate accurate inventory management, and augment consumer’s shopping experience will propel the growth of global smart retail market share.
Further, the growing usage of predictive equipment maintenance tool by retailers to monitor and anticipate the future maintenance issues and the power saving to keep the food safe. These factors will positively impact the global smart retail industry in future time. Additionally, the increasing adoption of customer data and analyzing customer behavior to personalize their shopping experience through mPOS, beacons, and NFC technologies by physical retailers are fuelling the demand for smart retailers.
Smart retail enables customer retention, provides services through intelligent location selection and store security, and provides customer profile analysis and behaviour analysis for customers return to the store to repurchase through product code scanning, member management, and precision marketing. With the use of smart retailers technology by physically able to attract, occupy, and convert prospective visitors into shoppers. These are vital factors estimated to foster the growth of the market. Further, the increasing use of AI-based smart retail by retailers to raise customer engagement, ease financial transactions for their customers, and reduce the operating cost and increase revenue generation are driving the growth of the market.
System Overview in the Global Smart retail Market
Based on the system, the global smart retail market classified into smart payment systems, digital signage solutions, intelligent vending machines, smart labels, augmented reality solutions, virtual reality solutions, POS solutions, smart carts, robotics, and analytics. The robotics segment held the highest CAGR in 2019 in the smart retail market share and is projected to dominate the market share over the forecast timeline. It is owing to the robotics solutions use by physical retailers to simplify the process of finding suitable products for customers and help in boosting better customer experience.
Application Overview in the Global Smart Retail Market
Based on application, the global smart retail market segregated into foot-traffic monitoring, inventory management, predictive equipment maintenance, smart fitting rooms, brand protection, and loyalty management and payments. The foot-traffic monitoring segment holds the maximum share in 2019 and expected to dominate the market until 2028.
Retail Offerings Overview in the Global Smart Retail Market
Based on retail offerings, the global smart retail market categorized into fast-moving consumer goods, apparel and accessories, and hardlines & leisure goods. The fast-moving consumer goods segment projected to dominate the market by 2028. It is attributable to the rapid pace of urbanization, increasing income of disposable, and the rising population around the globe will demand fast-moving consumer goods.
Regional Overview in the Global Smart Retail Market
By geography, the global smart retail market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America held a higher market share in 2019 and will continue its dominance by 2028. It is attributable to the proliferation of smart devices coupled with rising internet penetration in the region, the strong presence of smart retail solution providers and growing adoption of advanced ICT technology in the retail sector is poised to augur well for the growth of the regional market.
Global Smart retail Market: Competitive Landscape
Companies such
- IBM
- Intel Corporation
- Cisco Systems Inc.
- NXP Semiconductors N.V.
- Microsoft
- Huawei Investment & Holding Co. Ltd
- NVIDIA Corporation
- Samsung Electronics
- Google Inc.
- PTC Inc.
- Trigo Standard Cognition
- Caper Inc.
- Zippin Walmart Inc.
- Alibaba Group Holding Limited
- Amazon.com Inc.,
- Albert Heijn BV (Ahold Delhaize)
- Other prominent players are the key players in the global smart retail market.
1. Research Strategic Development
1.1. Market Modelling
1.2. Product Analysis
1.3. Market Trend and Economic Factors Analysis
1.4. Market Segmental Analysis
1.5. Geographical Mapping
1.6. Country Wise Segregation
2. Research Methodology
2.1. Identification of Target Market
2.2. Data Acquisition
2.3. Refining of Data/ Data Transformations
2.4. Data Validation through Primary Techniques
2.5. Exploratory Data Analysis
2.6. Graphical Techniques/Analysis
2.7. Quantitative Techniques/Analysis
2.8. Visual Result/Presentation
3. Executive Summary
4. Market Insights
4.1. Economic Factor Analysis
4.1.1. Drivers
4.1.2. Trends
4.1.3. Opportunities
4.1.4. Challenges
4.2. Technological Landscape
4.3. Competitors & Product Analysis
4.4. Regulatory Framework
4.5. Company market share analysis, 2019
4.6. Porter’s Five forces analysis
4.7. New Investment Analysis
4.8. PESTEL Analysis
5. Global Smart Retail Market Overview
5.1. Market Size & Forecast, 2017-2028
5.1.1. Demand
5.1.1.1. By Value (USD Million)
5.2. Market Share & Forecast, 2017-2028
5.2.1. By System
5.2.1.1. Smart Payment Systems
5.2.1.2. Digital Signage Solutions
5.2.1.3. Intelligent Vending Machines
5.2.1.4. Smart Labels
5.2.1.5. Augmented Reality Solutions
5.2.1.6. Virtual Reality Solutions
5.2.1.7. POS Solutions
5.2.1.8. Smart Carts
5.2.1.9. Robotics
5.2.1.10. Analytics
5.2.2. By Application
5.2.2.1. Foot-traffic Monitoring
5.2.2.2. Inventory Management
5.2.2.3. Predictive Equipment Maintenance
5.2.2.4. Smart Fitting Rooms
5.2.2.5. Brand Protection
5.2.2.6. Loyalty Management and Payments
5.2.2.7. Others
5.2.3. By Retail Offering
5.2.3.1. Fast-moving Consumer Goods
5.2.3.2. Apparel and Accessories
5.2.3.3. Hardlines & Leisure Goods
5.2.3.4. Others
5.2.4. By Region
5.2.4.1. North America
5.2.4.2. Europe
5.2.4.3. Asia Pacific
5.2.4.4. South America
5.2.4.5. Middle East & Africa
6. North America Smart Retail Market Overview
6.1. North America Smart Retail Market Size & Forecast, 2017-2028
6.1.1. Demand
6.1.1.1. By Value (USD Million)
6.2. North America Smart Retail Market Share & Forecast, 2017-2028
6.2.1. By System
6.2.1.1. Smart Payment Systems
6.2.1.2. Digital Signage Solutions
6.2.1.3. Intelligent Vending Machines
6.2.1.4. Smart Labels
6.2.1.5. Augmented Reality Solutions
6.2.1.6. Virtual Reality Solutions
6.2.1.7. POS Solutions
6.2.1.8. Smart Carts
6.2.1.9. Robotics
6.2.1.10. Analytics
6.2.2. By Application
6.2.2.1. Foot-traffic Monitoring
6.2.2.2. Inventory Management
6.2.2.3. Predictive Equipment Maintenance
6.2.2.4. Smart Fitting Rooms
6.2.2.5. Brand Protection
6.2.2.6. Loyalty Management and Payments
6.2.2.7. Others
6.2.3. By Retail Offering
6.2.3.1. Fast-moving Consumer Goods
6.2.3.2. Apparel and Accessories
6.2.3.3. Hardlines & Leisure Goods
6.2.3.4. Others
6.2.4. By Country
6.2.4.1. US
6.2.4.2. Canada
6.2.4.3. Mexico
6.2.5. Company Market Share (Top 3-5)
6.2.6. Economic Impact Study on North America Smart Retail Market
7. Europe Smart Retail Market Overview
7.1. Europe Smart Retail Market Size & Forecast, 2017-2028
7.1.1. Demand
7.1.1.1. By Value (USD Million)
7.2. Europe Smart Retail Market Share & Forecast, 2017-2028
7.2.1. By System
7.2.1.1. Smart Payment Systems
7.2.1.2. Digital Signage Solutions
7.2.1.3. Intelligent Vending Machines
7.2.1.4. Smart Labels
7.2.1.5. Augmented Reality Solutions
7.2.1.6. Virtual Reality Solutions
7.2.1.7. POS Solutions
7.2.1.8. Smart Carts
7.2.1.9. Robotics
7.2.1.10. Analytics
7.2.2. By Application
7.2.2.1. Foot-traffic Monitoring
7.2.2.2. Inventory Management
7.2.2.3. Predictive Equipment Maintenance
7.2.2.4. Smart Fitting Rooms
7.2.2.5. Brand Protection
7.2.2.6. Loyalty Management and Payments
7.2.2.7. Others
7.2.3. By Retail Offering
7.2.3.1. Fast-moving Consumer Goods
7.2.3.2. Apparel and Accessories
7.2.3.3. Hardlines & Leisure Goods
7.2.3.4. Others
7.2.4. By Country
7.2.4.1. Germany
7.2.4.2. UK
7.2.4.3. France
7.2.4.4. Italy
7.2.4.5. Rest of Europe
7.2.5. Company Market Share (Top 3-5)
7.2.6. Economic Impact Study on Europe Smart Retail Market
8. Asia Pacific Smart Retail Market Overview
8.1. Asia Pacific Smart Retail Market Size & Forecast, 2017-2028
8.1.1. Demand
8.1.1.1. By Value (USD Million)
8.2. Asia Pacific Smart Retail Market Share & Forecast, 2017-2028
8.2.1. By System
8.2.1.1. Smart Payment Systems
8.2.1.2. Digital Signage Solutions
8.2.1.3. Intelligent Vending Machines
8.2.1.4. Smart Labels
8.2.1.5. Augmented Reality Solutions
8.2.1.6. Virtual Reality Solutions
8.2.1.7. POS Solutions
8.2.1.8. Smart Carts
8.2.1.9. Robotics
8.2.1.10. Analytics
8.2.2. By Application
8.2.2.1. Foot-traffic Monitoring
8.2.2.2. Inventory Management
8.2.2.3. Predictive Equipment Maintenance
8.2.2.4. Smart Fitting Rooms
8.2.2.5. Brand Protection
8.2.2.6. Loyalty Management and Payments
8.2.2.7. Others
8.2.3. By Retail Offering
8.2.3.1. Fast-moving Consumer Goods
8.2.3.2. Apparel and Accessories
8.2.3.3. Hardlines & Leisure Goods
8.2.3.4. Others
8.2.4. By Country
8.2.4.1. China
8.2.4.2. India
8.2.4.3. Japan
8.2.4.4. Australia
8.2.4.5. Rest of Asia Pacific
8.2.5. Company Market Share (Top 3-5)
8.2.6. Economic Impact Study on Asia Pacific Smart Retail Market
9. South America Smart Retail Market Overview
9.1. South America Smart Retail Market Size & Forecast, 2017-2028
9.1.1. Demand
9.1.1.1. By Value (USD Million)
9.2. South America Smart Retail Market Share & Forecast, 2017-2028
9.2.1. By System
9.2.1.1. Smart Payment Systems
9.2.1.2. Digital Signage Solutions
9.2.1.3. Intelligent Vending Machines
9.2.1.4. Smart Labels
9.2.1.5. Augmented Reality Solutions
9.2.1.6. Virtual Reality Solutions
9.2.1.7. POS Solutions
9.2.1.8. Smart Carts
9.2.1.9. Robotics
9.2.1.10. Analytics
9.2.2. By Application
9.2.2.1. Foot-traffic Monitoring
9.2.2.2. Inventory Management
9.2.2.3. Predictive Equipment Maintenance
9.2.2.4. Smart Fitting Rooms
9.2.2.5. Brand Protection
9.2.2.6. Loyalty Management and Payments
9.2.2.7. Others
9.2.3. By Retail Offering
9.2.3.1. Fast-moving Consumer Goods
9.2.3.2. Apparel and Accessories
9.2.3.3. Hardlines & Leisure Goods
9.2.3.4. Others
9.2.4. By Country
9.2.4.1. Brazil
9.2.4.2. Argentina
9.2.4.3. Rest of South America
9.2.5. Company Market Share (Top 3-5)
9.2.6. Economic Impact Study on South America Smart Retail Market
10. Middle East & Africa Smart Retail Market Overview
10.1. Middle East & Africa Smart Retail Market Size & Forecast, 2017-2028
10.1.1. Demand
10.1.1.1. By Value (USD Million)
10.2. Middle East & Africa Smart Retail Market Share & Forecast, 2017-2028
10.2.1. By System
10.2.1.1. Smart Payment Systems
10.2.1.2. Digital Signage Solutions
10.2.1.3. Intelligent Vending Machines
10.2.1.4. Smart Labels
10.2.1.5. Augmented Reality Solutions
10.2.1.6. Virtual Reality Solutions
10.2.1.7. POS Solutions
10.2.1.8. Smart Carts
10.2.1.9. Robotics
10.2.1.10. Analytics
10.2.2. By Application
10.2.2.1. Foot-traffic Monitoring
10.2.2.2. Inventory Management
10.2.2.3. Predictive Equipment Maintenance
10.2.2.4. Smart Fitting Rooms
10.2.2.5. Brand Protection
10.2.2.6. Loyalty Management and Payments
10.2.2.7. Others
10.2.3. By Retail Offering
10.2.3.1. Fast-moving Consumer Goods
10.2.3.2. Apparel and Accessories
10.2.3.3. Hardlines & Leisure Goods
10.2.3.4. Others
10.2.4. By Country
10.2.4.1. Saudi Arabia
10.2.4.2. UAE
10.2.4.3. South Africa
10.2.4.4. Rest of Middle East & Africa
10.2.5. Company Market Share (Top 3-5)
10.2.6. Economic Impact Study on Middle East & Africa Smart Retail Market
11. Competitor Analysis
11.1. Company Description
11.2. Financial Analysis
11.3. Key Products
11.4. Key Management Personnel
11.5. Contact Address
11.6. SWOT Analysis
11.7. Company Profile
11.7.1. IBM
11.7.2. Intel Corporation
11.7.3. Cisco Systems, Inc.
11.7.4. NXP Semiconductors N.V.
11.7.5. Microsoft
11.7.6. Huawei Investment & Holding Co., Ltd
11.7.7. NVIDIA Corporation
11.7.8. Samsung Electronics
11.7.9. Google Inc.
11.7.10. PTC, Inc.
11.7.11. Trigo Standard Cognition
11.7.12. Caper Inc.
11.7.13. Zippin Walmart Inc.
11.7.14. Alibaba Group Holding Limited
11.7.15. Amazon.com Inc.,
11.7.16. Albert Heijn BV (Ahold Delhaize)
11.7.17. Other Prominent Players