The global smart retail market anticipated to influence due to changing buying behavior of customers leads to the use of smart technologies by retailers and growing use of robots and automation by retailers to offer shopping convenience to customers
The global smart retail market generated size was estimated at USD 14.08 billion in 2019 and anticipated to generate USD 79.84 billion by 2027, registering a CAGR of 19.99% during the forecast period. The primary factors are changing customer preferences related to real-time engagement, differentiated personalization, relevant recommendations, and value-oriented shopping. The surge in the applications of technologies such as augmented reality, virtual reality, artificial intelligence, and IoT to improve store operations, facilitate accurate inventory management, and augment consumer's shopping experience will propel the growth of global smart retail market share. Further, the growing usage of predictive equipment maintenance tool by retailers to monitor and anticipate the future maintenance issues and the power saving to keep the food safe. These factors will positively impact the global smart retail industry in future time. Additionally, the increasing adoption of customer data and analyzing customer behavior to personalize their shopping experience through mPOS, beacons, and NFC technologies by physical retailers are fuelling the demand for smart retailers.
Smart retail enables customer retention, provides services through intelligent location selection and store security, and provides customer profile analysis and behavior analysis for customers return to the store to repurchase through product code scanning, member management, and precision marketing. With the use of smart retailers technology by physically able to attract, occupy, and convert prospective visitors into shoppers. These are vital factors estimated to foster the growth of the market. Further, the increasing use of AI-based smart retail by retailers to raise customer engagement, ease financial transactions for their customers, and reduce the operating cost and increase revenue generation are driving the growth of the market.
System Overview in the Global Smart retail Market
Based on the system, the global smart retail market classified into smart payment systems, digital signage solutions, intelligent vending machines, smart labels, augmented reality solutions, virtual reality solutions, POS solutions, smart carts, robotics, and analytics. The robotics segment held the highest CAGR in 2019 in the smart retail market share and is projected to dominate the market share over the forecast timeline. It is owing to the robotics solutions use by physical retailers to simplify the process of finding suitable products for customers and help in boosting better customer experience.
Application Overview in the Global Smart Retail Market
Based on application, the global smart retail market segregated into foot-traffic monitoring, inventory management, predictive equipment maintenance, smart fitting rooms, brand protection, and loyalty management and payments. The foot-traffic monitoring segment holds the maximum share in 2019 and expected to dominate the market until 2027.
Retail Offerings Overview in the Global Smart Retail Market
Based on retail offerings, the global smart retail market categorized into fast-moving consumer goods, apparel and accessories, and hardlines & leisure goods. The fast-moving consumer goods segment projected to dominate the market by 2027. It is attributable to the rapid pace of urbanization, increasing income of disposable, and the rising population around the globe will demand fast-moving consumer goods.
Regional Overview in the Global Smart Retail Market
By geography, the global smart retail market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America held a higher market share in 2019 and will continue its dominance by 2027. It is attributable to the proliferation of smart devices coupled with rising internet penetration in the region, the strong presence of smart retail solution providers and growing adoption of advanced ICT technology in the retail sector is poised to augur well for the growth of the regional market.
Global Smart retail Market: Competitive Landscape
Companies such IBM, Intel Corporation, Cisco Systems, Inc., NXP Semiconductors N.V., Microsoft, Huawei Investment & Holding Co., Ltd, NVIDIA Corporation, Samsung Electronics, Google Inc., PTC, Inc., Trigo, Standard Cognition, Caper Inc., Zippin, Walmart Inc., Alibaba Group Holding Limited, Amazon.com, Inc., and Albert Heijn BV (Ahold Delhaize) are the key players in the global smart retail market.
Global Smart Retail Market Report Content 1. Research Strategic Development 1.1. Market Modelling 1.2. Product Analysis 1.3. Market Trend and Economic Factors Analysis 1.4. Market Segmental Analysis 1.5. Geographical Mapping 1.6. Country Wise Segregation 2. Research Methodology 2.1. Identification of Target Market 2.2. Data Acquisition 2.3. Refining of Data/ Data Transformations 2.4. Data Validation through Primary Techniques 2.5. Exploratory Data Analysis 2.6. Graphical Techniques/Analysis 2.7. Quantitative Techniques/Analysis 2.8. Visual Result/Presentation 3. Executive Summary 4. Market Insights 4.1. Economic Factor Analysis 4.1.1. Drivers 4.1.2. Trends 4.1.3. Opportunities 4.1.4. Challenges 4.2. Technological Landscape 4.3. Competitors & Product Analysis 4.4. Regulatory Framework 4.5. Company market share analysis, 2019 4.6. Porter's Five forces analysis 4.7. New Investment Analysis 4.8. PESTEL Analysis 5. Global Smart Retail Market Overview 5.1. Market Size & Forecast, 2016-2027 5.1.1. Demand 5.1.1.1. By Value (USD Million) 5.2. Market Share & Forecast, 2016-2027 5.2.1. By System 5.2.1.1. Smart Payment Systems 5.2.1.2. Digital Signage Solutions 5.2.1.3. Intelligent Vending Machines 5.2.1.4. Smart Labels 5.2.1.5. Augmented Reality Solutions 5.2.1.6. Virtual Reality Solutions 5.2.1.7. POS Solutions 5.2.1.8. Smart Carts 5.2.1.9. Robotics 5.2.1.10. Analytics 5.2.2. By Application 5.2.2.1. Foot-traffic Monitoring 5.2.2.2. Inventory Management 5.2.2.3. Predictive Equipment Maintenance 5.2.2.4. Smart Fitting Rooms 5.2.2.5. Brand Protection 5.2.2.6. Loyalty Management and Payments 5.2.2.7. Others 5.2.3. By Retail Offering 5.2.3.1. Fast-moving Consumer Goods 5.2.3.2. Apparel and Accessories 5.2.3.3. Hardlines & Leisure Goods 5.2.3.4. Others 5.2.4. By Region 5.2.4.1. North America 5.2.4.2. Europe 5.2.4.3. Asia Pacific 5.2.4.4. South America 5.2.4.5. Middle East & Africa 6. North America Smart Retail Market Overview 6.1. North America Smart Retail Market Size & Forecast, 2016-2027 6.1.1. Demand 6.1.1.1. By Value (USD Million) 6.2. North America Smart Retail Market Share & Forecast, 2016-2027 6.2.1. By System 6.2.1.1. Smart Payment Systems 6.2.1.2. Digital Signage Solutions 6.2.1.3. Intelligent Vending Machines 6.2.1.4. Smart Labels 6.2.1.5. Augmented Reality Solutions 6.2.1.6. Virtual Reality Solutions 6.2.1.7. POS Solutions 6.2.1.8. Smart Carts 6.2.1.9. Robotics 6.2.1.10. Analytics 6.2.2. By Application 6.2.2.1. Foot-traffic Monitoring 6.2.2.2. Inventory Management 6.2.2.3. Predictive Equipment Maintenance 6.2.2.4. Smart Fitting Rooms 6.2.2.5. Brand Protection 6.2.2.6. Loyalty Management and Payments 6.2.2.7. Others 6.2.3. By Retail Offering 6.2.3.1. Fast-moving Consumer Goods 6.2.3.2. Apparel and Accessories 6.2.3.3. Hardlines & Leisure Goods 6.2.3.4. Others 6.2.4. By Country 6.2.4.1. US 6.2.4.2. Canada 6.2.4.3. Mexico 6.2.5. Company Market Share (Top 3-5) 6.2.6. Economic Impact Study on North America Smart Retail Market 7. Europe Smart Retail Market Overview 7.1. Europe Smart Retail Market Size & Forecast, 2016-2027 7.1.1. Demand 7.1.1.1. By Value (USD Million) 7.2. Europe Smart Retail Market Share & Forecast, 2016-2027 7.2.1. By System 7.2.1.1. Smart Payment Systems 7.2.1.2. Digital Signage Solutions 7.2.1.3. Intelligent Vending Machines 7.2.1.4. Smart Labels 7.2.1.5. Augmented Reality Solutions 7.2.1.6. Virtual Reality Solutions 7.2.1.7. POS Solutions 7.2.1.8. Smart Carts 7.2.1.9. Robotics 7.2.1.10. Analytics 7.2.2. By Application 7.2.2.1. Foot-traffic Monitoring 7.2.2.2. Inventory Management 7.2.2.3. Predictive Equipment Maintenance 7.2.2.4. Smart Fitting Rooms 7.2.2.5. Brand Protection 7.2.2.6. Loyalty Management and Payments 7.2.2.7. Others 7.2.3. By Retail Offering 7.2.3.1. Fast-moving Consumer Goods 7.2.3.2. Apparel and Accessories 7.2.3.3. Hardlines & Leisure Goods 7.2.3.4. Others 7.2.4. By Country 7.2.4.1. Germany 7.2.4.2. UK 7.2.4.3. France 7.2.4.4. Italy 7.2.4.5. Rest of Europe 7.2.5. Company Market Share (Top 3-5) 7.2.6. Economic Impact Study on Europe Smart Retail Market 8. Asia Pacific Smart Retail Market Overview 8.1. Asia Pacific Smart Retail Market Size & Forecast, 2016-2027 8.1.1. Demand 8.1.1.1. By Value (USD Million) 8.2. Asia Pacific Smart Retail Market Share & Forecast, 2016-2027 8.2.1. By System 8.2.1.1. Smart Payment Systems 8.2.1.2. Digital Signage Solutions 8.2.1.3. Intelligent Vending Machines 8.2.1.4. Smart Labels 8.2.1.5. Augmented Reality Solutions 8.2.1.6. Virtual Reality Solutions 8.2.1.7. POS Solutions 8.2.1.8. Smart Carts 8.2.1.9. Robotics 8.2.1.10. Analytics 8.2.2. By Application 8.2.2.1. Foot-traffic Monitoring 8.2.2.2. Inventory Management 8.2.2.3. Predictive Equipment Maintenance 8.2.2.4. Smart Fitting Rooms 8.2.2.5. Brand Protection 8.2.2.6. Loyalty Management and Payments 8.2.2.7. Others 8.2.3. By Retail Offering 8.2.3.1. Fast-moving Consumer Goods 8.2.3.2. Apparel and Accessories 8.2.3.3. Hardlines & Leisure Goods 8.2.3.4. Others 8.2.4. By Country 8.2.4.1. China 8.2.4.2. India 8.2.4.3. Japan 8.2.4.4. Australia 8.2.4.5. Rest of Asia Pacific 8.2.5. Company Market Share (Top 3-5) 8.2.6. Economic Impact Study on Asia Pacific Smart Retail Market 9. South America Smart Retail Market Overview 9.1. South America Smart Retail Market Size & Forecast, 2016-2027 9.1.1. Demand 9.1.1.1. By Value (USD Million) 9.2. South America Smart Retail Market Share & Forecast, 2016-2027 9.2.1. By System 9.2.1.1. Smart Payment Systems 9.2.1.2. Digital Signage Solutions 9.2.1.3. Intelligent Vending Machines 9.2.1.4. Smart Labels 9.2.1.5. Augmented Reality Solutions 9.2.1.6. Virtual Reality Solutions 9.2.1.7. POS Solutions 9.2.1.8. Smart Carts 9.2.1.9. Robotics 9.2.1.10. Analytics 9.2.2. By Application 9.2.2.1. Foot-traffic Monitoring 9.2.2.2. Inventory Management 9.2.2.3. Predictive Equipment Maintenance 9.2.2.4. Smart Fitting Rooms 9.2.2.5. Brand Protection 9.2.2.6. Loyalty Management and Payments 9.2.2.7. Others 9.2.3. By Retail Offering 9.2.3.1. Fast-moving Consumer Goods 9.2.3.2. Apparel and Accessories 9.2.3.3. Hardlines & Leisure Goods 9.2.3.4. Others 9.2.4. By Country 9.2.4.1. Brazil 9.2.4.2. Argentina 9.2.4.3. Rest of South America 9.2.5. Company Market Share (Top 3-5) 9.2.6. Economic Impact Study on South America Smart Retail Market 10. Middle East & Africa Smart Retail Market Overview 10.1. Middle East & Africa Smart Retail Market Size & Forecast, 2016-2027 10.1.1. Demand 10.1.1.1. By Value (USD Million) 10.2. Middle East & Africa Smart Retail Market Share & Forecast, 2016-2027 10.2.1. By System 10.2.1.1. Smart Payment Systems 10.2.1.2. Digital Signage Solutions 10.2.1.3. Intelligent Vending Machines 10.2.1.4. Smart Labels 10.2.1.5. Augmented Reality Solutions 10.2.1.6. Virtual Reality Solutions 10.2.1.7. POS Solutions 10.2.1.8. Smart Carts 10.2.1.9. Robotics 10.2.1.10. Analytics 10.2.2. By Application 10.2.2.1. Foot-traffic Monitoring 10.2.2.2. Inventory Management 10.2.2.3. Predictive Equipment Maintenance 10.2.2.4. Smart Fitting Rooms 10.2.2.5. Brand Protection 10.2.2.6. Loyalty Management and Payments 10.2.2.7. Others 10.2.3. By Retail Offering 10.2.3.1. Fast-moving Consumer Goods 10.2.3.2. Apparel and Accessories 10.2.3.3. Hardlines & Leisure Goods 10.2.3.4. Others 10.2.4. By Country 10.2.4.1. Saudi Arabia 10.2.4.2. UAE 10.2.4.3. South Africa 10.2.4.4. Rest of Middle East & Africa 10.2.5. Company Market Share (Top 3-5) 10.2.6. Economic Impact Study on Middle East & Africa Smart Retail Market 11. Competitor Analysis 11.1. Company Description 11.2. Financial Analysis 11.3. Key Products 11.4. Key Management Personnel 11.5. Contact Address 11.6. SWOT Analysis 11.7. Company Profile 11.7.1. IBM 11.7.2. Intel Corporation 11.7.3. Cisco Systems, Inc. 11.7.4. NXP Semiconductors N.V. 11.7.5. Microsoft 11.7.6. Huawei Investment & Holding Co., Ltd 11.7.7. NVIDIA Corporation 11.7.8. Samsung Electronics 11.7.9. Google Inc. 11.7.10. PTC, Inc. 11.7.11. Trigo, Standard Cognition 11.7.12. Caper Inc. 11.7.13. Zippin, Walmart Inc. 11.7.14. Alibaba Group Holding Limited 11.7.15. Amazon.com, Inc., 11.7.16. Albert Heijn BV (Ahold Delhaize) 11.7.17. Other Prominent Players
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