Smart Retail Market 2022
The global Smart Retail Market is slated to grow on an astute note in the forecast period. The world is on the verge of adopting AR (Augmented Reality), VR (Virtual Reality), and ER (Extended Reality). Though these technologies were confined to gaming initially, the present-day uses comprise simulation software used for training Army, US Navy, and Coast Guard ship captains. The other verticals have also started adapting to these technological advances and would continue to do so further.
The smart retail market is estimated to be worth US$ 19 Bn in the year 2022.The latest trend is that of emphasizing on the technologies like mobile, RFID, cloud, beacons, and various others for rendering connected retail services, thereby driving the smart retail market.
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The value of the global smart retail market is anticipated to witness a CAGR of nearly 11% during the forecast period of 2022 to 2030.
Continuous developments and implementation of new technologies, such as RFID technology, artificial intelligence, and cloud computing have had a positive impact on both, workers and shoppers in the smart retail market. Smart retail technology is designed to improve inventory control and retail management in implementing IoT-based solutions more efficiently. Smart retail offers various benefits for both, retailers and supply chains, such as enhanced efficiency, quality, and output sustainability.
Key Players:
The report has profiled some of the Important players prevalent in the global like – Intel Corporation, IBM, Google LLC, Microsoft Corporation, Amazon Inc., Ingenico Group, Huawei Technologies Co., Ltd., Cisco Systems, Zebra Technologies Corp., Unitech Electronics Co., LTD., IEI Integration Corp., Samsung Electronics, Verifone Systems, NCR Corporation, Motorola Mobility LLC., Honeywell International Inc. and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Smart Retail.
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Key Takeaways of Smart Retail Market Study
- The smart retail software segment is expected to witness notable growth during the forecast period, owing to increasing demand for retail management and inventory management solutions.
- East Asia is expected to create lucrative growth opportunities for players in the smart retail market, attributed to rapid growth of departmental stores and supermarkets in the region.
- Increasing demand for connected devices, including smartphones and tablets having connectivity and multimedia capabilities, propels the demand for higher smart retail technologies, and creates growth opportunities for smart retail hardware manufacturers, and software and service providers in the global market.
“Smart retail manufacturers and service providers can improve revenues by upgrading existing technologies to improve operational efficiency, reduce retail security problems, and also offer a better customer service and shopping experience,” says a PMR analyst.
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Key Stakeholders
Smart Retail Market Manufacturers
Smart Retail Market Distributors/Traders/Wholesalers
Smart Retail Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Key Questions Answered in This Report.
What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
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