Press release
Key Trends Shaping the Future Smart Shopping Cart Market From 2025-2034: Enhancing the In-Store Shopping Experience
Smart Shopping Cart Market Size
The smart shopping cart market has experienced significant growth in recent years. It will rise from $1.72 billion in 2024 to $2.21 billion in 2025, at a CAGR of 28.5%. This growth is driven by the desire to improve retail efficiency, enhance consumer convenience, support contactless payments, implement better security measures, and create competitive differentiation.
The smart shopping cart market is expected to grow exponentially, reaching $5.35 billion by 2029, growing at a CAGR of 24.8%. The growth is fueled by AI and machine learning integration, autonomous store rise, the impact of the global pandemic, sustainability initiatives, and e-commerce integration. Trends include technological advancements, data analytics, autonomous stores, smart city initiatives, and AR features.
What Are the Forces Behind the Rapid Growth of the Smart Shopping Cart Market?
The expansion of the retail sector is anticipated to propel the growth of the smart shopping cart market. The retail sector comprises businesses that sell goods and services directly to consumers. Several factors, including evolving consumer behavior, the rise of online shopping, and economic shifts, contribute to the growth of the retail industry. Smart shopping carts are designed to improve customer experiences, enhance retail efficiency, and modernize shopping environments. For instance, in March 2023, the National Retail Federation, a US-based retail trade association, reported that annual retail sales in the US increased from $4.94 trillion in 2022 to $5.23 trillion in 2023. Additionally, retail sales are projected to grow by 4% to 6% in 2023. Consequently, the expanding retail sector is fueling the growth of the smart shopping cart market.
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Who Are the Dominant Companies Influencing Smart Shopping Cart Market Trends?
Major companies operating in the smart shopping cart market are Walmart Inc., Amazon.com Inc., Microsoft, Mitsui And Co. Ltd., Panasonic, International Business Machines Corporation, Oracle Corporation, SAP SE, Fujitsu Limited, SK Telecom Co. Ltd., Check Point Software Technologies, Veeve Systems, Toshiba Global Commerce Solutions Inc., Carttronics LLC, Zippin Inc., Focal Systems Inc., Mashgin Inc., Nourish Technology, Inc., Imagr Ltd., Wheelys Café AB, Pentland Firth Software GmbH, Grabango Co., SuperSmart, Sensei Technologies Inc., Standard Cognition Corporation
How Is the Smart Shopping Cart Market Evolving?
Top firms in the smart shopping cart market are developing advanced shopping cart technologies to provide a more personalized in-store shopping experience. Smart shopping carts integrate technology such as sensors, cameras, weight scales, and barcode scanners to track items and display prices on a screen. For example, in May 2022, Albertsons Companies Inc., a US-based grocery retailer, partnered with Veeve Inc., a US-based retail technology company, to introduce AI-powered smart shopping carts. These smart carts allow customers to scan items directly in the cart, weigh produce, and track the total cost in real-time. They also integrate with customer loyalty accounts, offering promotions and personalized recommendations while enhancing the checkout experience.
What Are the Different Segmentations in the Smart Shopping Cart Market?
The smart shopping cart market covered in this report is segmented -
1) By Component: Wheels, Handles, Bags, Frames, Scanner, Display, Other Components
2) By Technology: Barcodes, Radio-Frequency Identification (RFID), Zigbee
3) By Mode Of Sales: Direct, Distributor
4) By Application: Super market, Shopping Malls, Other Applications
Subsegments:
1) By Wheels: Standard Wheels, Smart Navigation Wheels
2) By Handles: Ergonomic Handles, Smart Touchscreen Handles
3) By Bags: Insulated Shopping Bags, Detachable Storage Bags
4) By Frames: Lightweight Frames, Foldable Frames
5) By Scanner: Barcode Scanners, RFID Scanners
6) By Display: Digital Displays, Touchscreen Displays
7) By Other Components: Payment Modules, Battery Packs
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Which Region Is at the Forefront of the Smart Shopping Cart Market?
North America was the largest region in the smart shopping cart market in 2024. The regions covered in the smart shopping cart market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Smart Shopping Cart Global Market Report?
- Market Size Analysis: Analyze the Smart Shopping Cart Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Smart Shopping Cart Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Smart Shopping Cart Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Smart Shopping Cart Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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