Global Smart Retail Market Size to Reach USD 220.30 Billion in 2032 | Emergen Research

Increasing adoption of smart retail in the packaging sector is one of the key factors driving revenue growth of the Smart Retail market


Vancouver, Sept. 25, 2023 (GLOBE NEWSWIRE) -- The Smart Retail Market size reached USD 23.40 Billion in 2021 and is expected to register a revenue CAGR of 22.9% during the forecast period to the latest analysis by Emergen Research. The increasing adoption of modern technological advancements is a major driving factor behind the revenue growth of the global market. Besides, the multiple features and benefits offered by smart retail solutions are expected to create several opportunities for major market players. Traditional, printed price tags are difficult to keep up with and don't promote the image of a technologically savvy company. Furthermore, printing, mailing, and putting in-store pricing cards is a time-consuming and error-prone operation.

Request Free Sample Copy Or Get This Report At: https://www.emergenresearch.com/request-sample/1049

Smart retail technology, such as dynamic digital pricing, eliminates the burden of printed price tags while making it much easier to maintain pricing consistency across online and in-store channels. Smart retail technology, such as content synchronization, helps carriers capture the attention of purpose-driven consumers by delivering engaging video content across all devices. Blank screens provide no value to the customer experience, and generic Original Equipment Manufacturer (OEM) information is less than ideal and causes visual clutter in stores. Customers can interact with in-store gadgets during synchronized take-over moments, which can speed the route to purchase for purpose-driven customers shopping for something specific. Smart retail technology's behavior-based analytics can be extremely useful for resource management and cost control. Digital price tags save money by eliminating the hard costs of printed labels and streamlining a low-value process, allowing salespeople to focus on more important tasks. In-store ads that aren't working can be promptly spotted and adjusted to improve their efficacy. Carriers can also concentrate on successful initiatives and scale them across their whole footprint to optimize impact.

However, the high maintenance expenditure of advanced computer systems and gadgets is a major factor that is expected to hamper revenue growth of the market to a certain extent. Modern computing systems and software solutions are mostly complex pieces of technology that need to be updated and maintained on a regular basis. This maintenance work can be costly, laborious, and time-consuming, so it should be planned ahead of time. Maintaining cutting-edge, custom-made software is much more expensive since it necessitates a dedicated support team that is available at all times. Furthermore, appropriate documentation is required for effective software maintenance so that developers do not have to trawl through thousands of lines of code in numerous modules to discover and solve problems.

Click to Purchase this Report at an Exclusively Discounted Rate @ https://www.emergenresearch.com/request-discount/1049

Scope of Research

Report DetailsOutcome
Market size in 2021USD 23.40 Billion
CAGR (2022–2030)22.9%
Revenue forecast to 2032USD 220.30 Billion
Base year for estimation2021
Historical data2019-2020
Forecast period2022-2030
Quantitative unitsRevenue in USD Billion and CAGR in % from 2022 to 2030
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments coveredSolution, Application, and Region
Regional scopeNorth America, Europe, Asia Pacific, Latin America, Middle East & Africa
Country scopeU.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, U.A.E., South Africa, Turkey, and Rest of MEA
Key companies profiledWalmart Inc., Cisco Systems, Huawei Technologies Co. Ltd., Intel Corporation, Samsung Electronics, NVIDIA Corporation. Alibaba Group Holding Limited, Amazon.com, Inc., IBM Corporation, and Google LLC
Customization scope10 hours of free customization and expert consultation

Major Companies and Competitive Landscape

The smart retail market is fairly consolidated with few small and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective strategies in the market. Some major players included in the market report are:

  • Walmart Inc.
  • Cisco Systems
  • Huawei Technologies Co. Ltd.
  • Intel Corporation
  • Samsung Electronics
  • NVIDIA Corporation
  • Alibaba Group Holding Limited
  • Amazon.com, Inc.
  • IBM Corporation
  • Google LLC

Strategic Development

  • On 12 January 2020, ARENA15, an immersive retail and entertainment complex, cooperated with Intel Corporation. ARENA15 intends to improve client purchasing experiences by utilizing Intel's technology and solutions.
  • On 25 November 2019, Mars Wrigley, a company that manufactures chocolates, chewing gums, mints, and fruity confections, partnered with Standard Cognition to provide them with automated checkout solutions

Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/1049

Some Key Highlights From the Report

  • The hardware segment is expected to register a steady growth throughout the forecast period due to the widespread adoption of the Internet of Things (IoT) to accumulate data through several access points and enhanced communication through Bluetooth beacons
  • The robotics segment is expected to register considerable growth. The use of autonomous robots mainly trollies and delivery racks in retail stores are gaining popularity due to their speed, productivity, and ease of use.
  • The market in North America is expected to register considerable growth due to the increasing adoption of Artificial Intelligence (AI) and Virtual Reality (VR) to enhance the efficiency of distribution channels and communication networks
  • On 16 March 2021, Sensormatic Solutions, a division of Johnson Controls, has teamed together with Intel to digitally change retail and improve the customer experience. As a result of the partnership, customers may make well-informed business decisions, resulting in good outcomes.

Click to access the Report Study, Read key highlights of the Report and Look at Projected Trends @ https://www.emergenresearch.com/industry-report/smart-retail-market

Emergen Research has segmented the Smart Retail market on the basis of solution,  application, and region:

  • Solution Outlook (Revenue, USD Billion; 2019–2030)
      • Hardware
      • Software
  • Application Outlook (Revenue, USD Billion; 2019–2030)
      • Visual Marketing
      • Smart Label
      • Smart Payment System
      • Robotics
      • Others
  • Regional Outlook (Revenue, USD Billion; 2019–2030)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. France
      3. U.K.
      4. Italy
      5. Spain
      6. Benelux
      7. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. U.A.E.
      3. South Africa
      4. Turkey
      5. Rest of MEA

Curated Reports You Shouldn't Miss: Dive In Now!

Enterprise Information Archiving Market, By Type (Content Type, Services), By Deployment Mode, By Vertical, (Government and Defense, Banking and Financial Services, Retail and E-commerce, Other Verticals), By Region Forecast to 2032

Public Safety and Security Market, By Solution (Critical Communication Network, C2/C4SIR System, Surveillance System, Others), By Service (Professional Services, Managed Services) By Vertical, By Region Forecast to 2032

Farm Management Software Market, By Offering (On-Cloud, On-Premises, and Data Analytics Services), By Farm Production Planning (Pre-Production Planning and Production Planning), By Farm Size, By Application, and By Region Forecast to 2032

Cloud Managed Services Market, By Service Type (Managed Security Services, Managed Network Services, and Managed Infrastructure Services), By Organization Size, By Vertical, and By Region Forecast to 2032

Digital Identity Solutions Market, By Offering (Solution and Services), By Identity (Biometrics and Non-biometrics), By Solution Type, By Deployment Mode, By Organization Size, By Vertical, and By Region Forecast to 2032

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors. For more information, visit
Contact Us:

Eric Lee

Corporate Sales Specialist

Emergen Research | Web: https://www.emergenresearch.com/

Direct Line: +1 (604) 757-9756

E-mail: sales@emergenresearch.com

Explore Our Japanese Version: Global Smart Retail Market

Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights

Read our Press Release @ https://www.emergenresearch.com/press-release/global-smart-retail--market



Coordonnées