The global smart retail market is projected to grow at a CAGR of 23%-25% during 2020-2025. The growth of smart retail market is driven by increasing demand for big data analytics, machine learning, and artificial intelligence technologies by retailers and growing usage of robots and automation to provide better customer services.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the smart retail market by system (digital signage solutions, smart labels, smart payment systems, intelligent vending machines, augmented reality solutions, virtual reality solutions, POS solutions, smart carts, robotics, analytics), application (foot-traffic monitoring, inventory management, loyalty management and payment, predictive equipment maintenance, brand protection, and smart fitting rooms), retail offering (apparel and accessories, fast-moving consumer goods, hardlines and leisure goods, and others), solution (hardware and software), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the smart retail market?
Q.4 What are some changing demands of customers in the smart retail market?
Q.5 What are the new developments in the smart retail market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this smart retail area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this smart retail market?
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Market Segmentation:
Based on system, the smart retail market is segmented into digital signage solutions, smart labels, smart payment systems, intelligent vending machines, augmented reality solutions, virtual reality solutions, POS solutions, smart carts, robotics, analytics. The robotics segment accounted for the largest share of the market in 2020 due to the growing use of robots in supermarkets, hypermarkets, and other retail stores to make shopping convenient for customers.
North America is expected to be the largest region over the forecast period due to increasing adoption of POS solutions, automatic storage and retrieval systems, smart carts, and self-checkout systems by supermarket, hypermarkets, and other retail stores.
Key Players in the smart retail market are IBM, Intel Corporation, Cisco Systems, Samsung Electronics, Amazon, Google, Nvidia, NXP Semiconductors N.V., and Microsoft.
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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
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Brandon Fitzgerald
Lucintel
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