Smart Retail Market is estimated to grow with a CAGR of 26.0% during the forecast period

 


Smart Retail Market size was valued at USD 21.4 billion in 2020 and is expected to grow to USD 211.25 billion in 2030 at a compound annual growth rate (CAGR) of 26.0%. The use of big data analytics and the internet of things (IoT) for retail purposes is known as smart retail. This simplifies many operations such as billing, ticketing, and so on. Data analytics makes it easier to maintain track of all previous records, while cloud computing solutions make it possible to access data from anywhere. In order to control their sales, this is critical for distribution channels with a high rate of income. Smart Retail also aids in the provision of services that are typically only a click away, particularly via smartphones.

The report "Global Smart Retail Market, By Solution (Hardware and Software), By Application (Visual Marketing (Digital Signage), Smart Label (Smart Beacon and Smart Shelf), Smart Payment System (Mobile Payment Application, E-Payment System and POS System), Intelligent System (Augment Reality, Virtual Reality, Smart Carts, and Interactive Kiosks) and Others (Robotics, And Analytics)), and By Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) – Trends, Analysis, and Forecast till 2030”                                                             

Key Highlights:

·         Intel Corporation partnered with ARENA15 (Las Vegas), an immersive retail and entertainment complex, in January 2020. AREA15 intends to improve client shopping experiences by utilising Intel's technology and solutions.

·         Intel Corporation partnered with Sensormatic Solutions, a Johnson Controls company, in January 2020 to develop scalable, AI-powered retail solutions. For delivering its solutions to shops, Sensormatic Solutions will use the Intel Distribution of OpenVINO toolkits as well as Intel models.

Analyst View:

One of the major trends driving market expansion is the increasing use of technologies such as Artificial Intelligence (AI), Virtual Reality (VR), Augmented Reality (AR), and the Internet of Things (IoT) to improve consumers' shopping experiences, inventory management, and retail operations. AR is revolutionising the retail business by allowing brands to connect with customers via their smartphones. The use of augmented reality in marketing aids in the development of customer relationships, the enhancement of the customer experience, and, as a result, the growth of sales.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Smart Retail Market, By Solution (Hardware and Software), By Application (Visual Marketing (Digital Signage), Smart Label (Smart Beacon and Smart Shelf), Smart Payment System (Mobile Payment Application, E-Payment System and POS System), Intelligent System (Augment Reality, Virtual Reality, Smart Carts, and Interactive Kiosks) and Others (Robotics, And Analytics)), and By Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) – Trends, Analysis, and Forecast till 2030”

To know the upcoming trends and insights prevalent in this market, click the link below:

https://www.prophecymarketinsights.com/market_insight/Global-Smart-Retail-Market-By-1124

Key Market Insights from the report:

The Global Smart Retail Market size was valued at USD 21.4 billion in 2020 and is expected to grow to USD 211.25 billion in 2030 at a compound annual growth rate (CAGR) of 26.0%. Global smart retail market is segmented on the basis of solution, application and region.

·         Based on Solution, Global Smart Retail Market is segmented into Hardware and Software.

·         Based on Application, Global Smart Retail Market is segmented into Visual Marketing (Digital Signage), Smart Label (Smart Beacon and Smart Shelf), Smart Payment System (Mobile Payment Application, E-Payment System and POS System), Intelligent System (Augment Reality, Virtual Reality, Smart Carts, and Interactive Kiosks) and Others (Robotics, And Analytics). 

·         By Region, the Global Smart Retail Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Global Smart Retail Market:

Key market player in the global smart retail market Intel Corp., International Business Machines Corp., Samsung Electronics Service Co., Ltd., Google, Inc., Microsoft Corp., SoftBank Group Corp., Ingenico Group., VeriFone, Inc., NCR Corp.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

About Prophecy Market Insights

Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions that offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.

Some Important Points Answered in this Market Report Are Given Below:

·         Explains an overview of the product portfolio, including product development, planning, and positioning

·         Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.

·         Detailed analysis of the market revenue over the forecasted period.

·         Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.

·         Study on the segments that are anticipated to dominate the market.

·         Study on the regional analysis that is expected to register the highest growth over the forecast period

To know more

Contact Us:

Sales

Prophecy Market Insights

  1 860 531 2701

Email- sales@prophecymarketinsights.com

Website- www.prophecymarketinsights.com

 

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