openPR Logo
Press release

Global Smart Retail Market by System (Smart Payment Systems, Digital Signage Solutions, Intelligent Vending Machines, Smart Labels, Augmented Reality Solutions, Virtual Reality Solutions, POS Solutions, Smart Carts, Robotics, and Analytics), by Applicatio

11-02-2021 05:51 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Research Reports Hub

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.

Request free sample report of this research report: https://researchreportshub.com/sample-enquiry-form/

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.

Read FUll Report: https://researchreportshub.com/smart-retail-market/4266/

Contact Us:
Divyansh Jain
Head of Business Development
Research Reports Hub | Web: www.researchreportshub.com
Direct Line: +91 8955582706
Email: sales@researchreportshub.com

Our custom research provides you with exclusive research you won't find anywhere else. If syndicated reports cannot offer insights you need, simply fill in the form or mail us to get a report tailored to your exact requirements.
Company insight reports offer you an in-depth view about the competitors in the market and their strategies, which can help businesses to plan market entries effectively.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Global Smart Retail Market by System (Smart Payment Systems, Digital Signage Solutions, Intelligent Vending Machines, Smart Labels, Augmented Reality Solutions, Virtual Reality Solutions, POS Solutions, Smart Carts, Robotics, and Analytics), by Applicatio here

News-ID: 2450084 • Views:

More Releases from Research Reports Hub

Global Fresh Food Packaging Market - By Material (Polyethylene, Polypropylene, A …
The Global Fresh Food Packaging market bolstering market growth due to rising concerns for hygiene in food packaging The global fresh food packaging market has the potential to grow by USD 118 billion with a potential CAGR of 4% in the forecast period from 2021-2028. The bolstering demand for fresh food packaging continues to grow with population growth and the development of retail companies. These retail stores focus on reducing costs
Global Prefilled Syringes Market by Material (Glass Prefilled Syringes, and Plas …
The global prefilled syringes market size is anticipated to reach USD 10.5 billion by 2028, at a CAGR of 8.5% during the forecast period due to the high prevalence of chronic diseases and the rising adoption of self-injection devices. Global prefilled syringes market estimated to grow with a CAGR of 8.5% during the forecast period, 2021-2028. It is owing to the benefits of prefilled syringes such as the low risk of
Global Hydrogen Peroxide Market - By Product Function (Disinfectant, Bleaching, …
The Global Hydrogen Peroxide market shows influential growth owing to its characteristics and cost effectiveness. The Global Hydrogen peroxide market will show substantial CAGR in the forecast period from 2021-2028. Hydrogen peroxide is a relevant inorganic chemical product with a wide range of uses. In recent years, it has widely recognized as an environmentally-friendly hot green product. Its industry competitiveness has gradually increased, and market demand has also increased year by
Global Industrial Waste Collection Autonomous Surface Vessels Market by Product …
Global industrial waste collection autonomous surface vessel market likely to propel in the forecast period due to the growing demand for waste collection and cleaning from waterways. Global industrial waste collection autonomous surface vessels market projected to grow with a momentous rate during the forecast period, 2021-2028. It is primarily attributed to the governments around the world that have supported and provide financial aids through various projects to clean rivers and

All 5 Releases


More Releases for Smart

Smart Cities Market is Expected to Witness CAGR of 17.3% by 2027 with Applicatio …
A smart city is an urban unit or area that uses various types of electronic Internet of Things (IoT) devices to collect data and then use the insights to manage resources, assets, and services effectively. Green building is a growing trend in the global smart cities market. Constructing eco-friendly infrastructure facilities can provide a sustainable environment in the cities. Moreover, governments are focused on constructing energy-efficient buildings, in order
Global Smart Cities Market by Component (Hardware, Software) by Application (Sma …
Global Smart Cities Market: Overview The global smart cities market is expected to reach a mark of over USD 3000 billion by 2024, at a CAGR over 21% during the forecast period. Significant growth in next-generation technologies such as artificial intelligence AI, personalized healthcare, sustainable energy generation and robotics are driving the smart cities’ future. Moreover, the increase in residential preference towards the adoption of advanced information and communication technologies ICT
Survey Report on Smart Kitchen Appliances Market 2018: Smart Refrigerator, Smart …
The report analyzes and presents an overview on "Global Smart Kitchen Appliances Market Professional Survey Report 2018" worldwide. This report studies Smart Kitchen Appliances in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2013 to 2018, and forecast to 2025. The study objectives of this report are: To study and forecast the market size of Smart
IoT Device Management Market Analysis by Application - Smart Manufacturing, Smar …
IoT device management comprises of multiple operating systems and several varieties of communication methods and protocols targeted at conducting smooth functioning of smart devices. The service of IoT device management has become vital for the business sector in recent years due to the rising use of remote operation in a number of industries and the subsequent need to manage the operation of the devices. The global IoT device management market is
SMART SHIPS NEED SMART REGISTRIES
The shipping world needs to wake up and embrace the philosophy of smart shipping because it is already here and the downturn in the world economy is not going to last forever, according to Panos Kirnidis, CEO of the Palau International Ship Registry. “The maritime industry knows that smart ships and smart technology is the way forward and yet there seems to be reluctance on the part of some owners to
Smart Kitchen Appliances Market : Smart Refrigerators, Smart Dishwashers, Smart …
Albany, New York, July 20, 2017 : Recent research and the current scenario as well as future market potential of "Smart Kitchen Appliances Market (Products - Smart Refrigerators, Smart Dishwashers, Smart Ovens, Smart Cookware and Cooktops, Smart Scales and Thermometers and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022" globally. Smart kitchen appliances are premium appliances that are designed for comfortable and efficient operation as