Smart Retail Devices Market Is Fast Approaching, Says Research | Intel, Cisco, NXP semiconductors, Microsoft
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Global Smart Retail Devices Market is valued approximately at USD 17.43 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 17.2% over the forecast period 2020-2027. Smart Retail Devices are used in making e-commerce business smarter by using Internet-of-Things (IoT). Smart devices enable the producers or retail owners to manage inventory conveniently by tracking goods at the production level and deliver them at the customer's doors. Also, it includes advanced logistics which prevents stock theft and protect the goods and related information by storing information in the cloud. Smart devices enhance the consumer engagement by providing connected retail services and better shopping experience. Growing investment in robotics and connectivity in retail industry, rising adoption of artificial intelligence & IoT in retail industry has led the adoption of Smart Retail Devices across the forecast period. For Instance: according to the whitehouse.gov, in 2019, U.S. President Donald J. Trump launched the American AI Initiative to promote leadership in artificial intelligence as the nation's strategy for future economy security. As per the company source, in 2018, H&M, a fashion brand launched Interactive Voice Mirror at their retail store in Manhattan, also called a smart mirror which attracts customers to provide them with personalized matching clothes & other accessories. However, high manufacturing costs, increased maintenance costs of advanced high-end computing systems and lack of privacy laws in less developed countries, impedes the growth of the market over the forecast period of 2020-2027. Also, Opportunity with the rising demand for artificial intelligence by the customers due to the convenience & feasibility it provides, the supportive government initiatives have been provided to the manufacturers, hence the adoption & demand for Smart Retail Devices is likely to increase.
The regional analysis of global Smart Retail Devices Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the huge presence of smart retail solution providers and adoption of IoT & artificial intelligence in their daily lifestyles. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income, rising urban population is making people to move towards automation-based solution and services and the continuous infrastructure development would create lucrative growth prospects for the Smart Retail Devices Market across Asia-Pacific region.
Major market player included in this report are:
• International Business Machines
• NXP semiconductors
• NVIDIA corporation
• Samsung Electronics
• Texas Instrument
• Softbank Robotics
• PAX global technology
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
• Digital Signage
• Smart Labels
• Smart Payments
• Smart Transportation
• Predictive Equipment Maintenance
• Inventory Management
Target Audience of the Global Smart Retail Devices Market in Market Study:
• Key Consulting Companies & Advisors
• Large, medium-sized, and small enterprises
• Venture capitalists
• Value-Added Resellers (VARs)
• Third-party knowledge providers
• Investment bankers
COVID-19 – Next Thoughts: In this piece, we have shared key data and numbers that shine a spotlight on the current scale of the crisis and the economic fallout.
A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021
covid-19 scenario Market Behavior/ Level of Risk and Opportunity End Industry Behavior/ Opportunity Assessment Expected Industry Recovery Timeline Business Impact Horizon
Opening of Economy by Q3 2020 xx xx xx xx
Recovery – Opening of Economy extended till Q4 2020 / Q1 2021 xx xx xx xx
Under COVID-19 Outbreak Impact Analysis:
We analyzed industry trends in the context of COVID-19. We analyzed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyze the impact of COVID-19 on various regions and major countries.
The impact of COVID-19 on the future development of the industry is pointed out.
Study Explore :
• Market Behavior/ Level of Risk and Opportunity
• End Industry Behavior/ Opportunity Assessment
• Expected Industry Recovery Timeline
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In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of
The Following Aspects:
Informational Takeaways from the Market Study: The report includes the completely examined and evaluated data of the noticeable companies and their situation in the market considering impact of Coronavirus. The measured tools including SWOT analysis, Porter’s five powers analysis, and assumption return debt were utilized while separating the improvement of the key players performing in the market.
Key Development’s in the Market: This report fuses the major developments of the market that contains confirmations, composed endeavors, R&D, new thing dispatch, joint endeavours, and relationship of driving members working in the market.
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The study objectives of this report are:
Important Features that are under offering & key highlights of the report:
– Detailed overview of market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
– A neutral perspective towards market performance
– Market players information to sustain and enhance their footprint
The Study Explore COVID 19 Outbreak Impact Analysis
• What should be entry strategies, countermeasures to economic impact, and marketing channels?
• What are market dynamics?
• What are challenges and opportunities?
• What is economic impact on market?
• What is current market status? What’s market competition in this industry, both company, and country wise? What’s market analysis by taking applications and types in consideration?
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Key Points Covered in Smart Retail Devices Market Report:
Chapter 1, About Executive Summary to describe Definition, Specifications and Classification of Smart Retail Devices market, Applications, Market Segment by Regions North America, Europe or Asia;
Chapter 2, objective of the study.
Chapter 3, to display Research methodology and techniques.
Chapter 4 and 5, to show the Overall Market Analysis, segmentation analysis, characteristics;
Chapter 6 and 7, to show the Market size, share and forecast; Five forces analysis (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 8 and 9, to show analysis by regional segmentation, comparison, leading countries and opportunities; Regional Marketing Type Analysis, Supply Chain Analysis
Chapter 10, focus on identifying the key industry influencer’s, overview of decision framework accumulated through Industry experts and strategic decision makers;
Chapter 11 and 12, Market Trend Analysis, Drivers, Challenges by consumer behavior, Marketing Channels and demand & supply.
Chapter 13 and 14, describe about the vendor landscape (classification and Market Positioning)
Chapter 15, deals with Smart Retail Devices Market sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.
……..and view more in complete table of Contents
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