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Key Influencer in the Smart Shopping Cart Market 2025: Surge In Retail Sector Drives Growth Of The Smart Shopping Cart Market Driver
Smart Shopping Cart Market
The expansion of the retail industry is predicted to fuel the rise of the smart shopping cart market in the future. The retail industry pertains to a sector of the economy where direct goods or services sales to consumers occur. This industry's growth is dictated by multiple elements such as evolving customer conduct, a surge in online shopping, and demanding economic scenarios. Smart shopping carts are fundamentally utilized in the retail industry to enhance customer shopping experiences, boost retailer efficacy and develop a more cutting-edge, effective and client-oriented shopping atmosphere. For example, as per National Retail Federation reports in March 2023, a retail trade association based in the US, US yearly retail sales saw an escalation from $4.94 trillion in 2022 to $5.23 trillion in 2023. It is also projected that retail sales will rise between 4% and 6% in 2023. As a result, the expanding retail industry is facilitating the growth of the smart shopping cart market.
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What is the future CAGR of the smart shopping cart market, and how will it impact industry expansion?
In recent times, the smart shopping cart market has seen a significant expansion. Its growth is expected to increase from $1.72 billion in 2024 to $2.21 billion in 2025, with a compound annual growth rate (CAGR) of 28.5%. The substantial growth during the past period can be credited to enhanced retail productivity, customer convenience, touchless transactions, improved security provisions, and competitive differentiation.
The market size of smart shopping carts is projected to witness exponential expansion in the coming few years, reaching a value of $5.35 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 24.8%. The rise during the forecast period is likely due to aspects such as the incorporation of Artificial Intelligence (AI) and machine learning, the emergence of self-governing stores, the effects of the global pandemic, emphasis on sustainability, and the broadening of e-commerce integration. Key trends for the forecast period encompass technological innovations, the incorporation of data analytics, the establishment of autonomous stores, initiatives towards smart cities, and the inclusion of Augmented Reality (AR) features.
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What are the most significant trends transforming the smart shopping cart market today?
Leading firms in the smart shopping cart market are prioritizing technologically evolved products, like shopping carts, to offer a customized in-store shopping journey. Smart shopping carts are progressive shopping trolleys that come with technology to augment the grocery shopping experience. These carts come with an array of sensors, including cameras, weight scales and barcode scanners, which help in identifying the items selected by customers and shows the price on a screen. For example, in May 2022, Albertsons Companies Inc., a grocery firm based in the US, introduced smart shopping carts in collaboration with Veeve Inc., a US company that emphasizes shopper interaction in the retail industry. These technologically innovative carts enable customers to scan items straight into the cart, weigh fruits and vegetables, and monitor the entire cost in real-time. They also merge with loyalty accounts, offering access to deals and discounts during shopping. The primary objective of these AI-driven carts is to enhance personalization, with the potential to identify shopping tendencies and suggest products or recipes. Furthermore, they aspire to make the checkout process more efficient.
Which key market segments comprise the smart shopping cart market and drive its revenue growth?
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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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.
Who are the leading players fueling growth in the smart shopping cart market?
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
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What Is Covered In The Smart Shopping Cart Global Market Report?
•Market Size Forecast: Examine the smart shopping cart market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the smart shopping cart market for a structured understanding.
•Key Players Overview: Analyze major players in the smart shopping cart market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart shopping cart market.
•Segment Contributions: Evaluate how different segments drive overall growth in the smart shopping cart market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart shopping cart market.
•Industry Challenges: Identify potential risks and obstacles affecting the smart shopping cart market.
•Competitive Landscape: Review strategic developments in the smart shopping cart market, including expansions, agreements, and new product launches.
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