PUBLISHER: Value Market Research | PRODUCT CODE: 1547952
PUBLISHER: Value Market Research | PRODUCT CODE: 1547952
The global demand for Smart Retail Market is presumed to reach the market size of nearly USD 352.53 Billion by 2032 from USD 35.89 Billion in 2023 with a CAGR of 28.9% under the study period 2024-2032.
Smart retail can be defined as the application of smart technologies to deliver faster, greater, safer and smart experience when shopping to customers. The concept uses tools and technologies to make a life for both brands and customers and joined-up shopping experience. Smart retailing gives the brand the potential to collect more data about their customer and their shopping habits and implement positive changes accordingly and help by providing all of those things.
Continuous progress in information and communication technologies has led to the development of smart retail. Smart retailing is gaining popularity with growing digitalization, penetration of smartphone and internet users. Changing consumer behavior expectations and ever-fiercer competition is influencing the growing market. In the last five years, an increasing interest has been seen by customer and retailers. A large number of innovations has been introduced at traditional points of sale by modifying traditional retail practices. The concept of smart retail is going beyond the application of new technologies by including more organized dimension. For instance, several stores have introduced self-service technologies, equipped with Radio Frequency Identification (RFID) systems, self-cash desks, and informativetouch points, interactive displays equipped with touch screens, digital signage and applications for mobile phones. Meanwhile, the low acceptance of this concept in the rural area is a restraining factor. Many of them have low awareness about its benefits while some are concerned about data security and privacy concerns.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Smart Retail. The growth and trends of Smart Retail industry provide a holistic approach to this study.
This section of the Smart Retail market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Smart Retail market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Smart Retail market include Amazon.Com Inc., Cisco Systems Inc., Google LLC, Honeywell International Inc., Huawei Technologies Co. Ltd., IBM Corporation, Ingenico, Fiserv Inc., Intel Corporation, LG Display Co. Ltd., NCR Corporation, NVIDIA Corporation, NXP Semiconductors, PAX Global Technology Limited, Samsung Electronics, Verifone Systems. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.