Smart Retail Market, By Solution (Hardware and Software), By Application (Visual Marketing (Digital Signage), Smart Label (Smart Beacon and Smart Shelf), Smart Payment System (Mobile Payment Application, E-Payment System and POS System), Intelligent System (Augment Reality, Virtual Reality, Smart Carts, and Interactive Kiosks) and Others (Robotics, And Analytics)), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032

Introduction:

Smart Retail is a retail establishment that uses a set of smart technologies designed to provide faster, more, smarter and safer services to customers while making purchases. These stores are known as smart stores that use smart technologies such as smart shelves, smart cards or smart cards.

The growing trend of digitization is expected to boost market growth, as retailers, among other things, may have the benefits of digitization in the form of additional consumption and lower operating costs. Digitalization can be hugely inspiring to the employees in the store. The resultant digitization can help in increasing revenues. Recently, non-store commerce is expected to grow significantly. Digital payment methods, including electronic wallets, prepaid cards, credit cards, debit cards and other digital platforms, have been driving the growth of the Smart Retail industry in recent years.

Attributes	Details
Smart Retail Market Value (2022)	US$ 33.9 Bn
Smart Retail Market Projected Value (2032)	US$ 405.4 Bn
Smart Retail Market CAGR (2022 – 2032)	26.5%

Increasing use of Big Data Analytics

The increasing use of big data analytics to understand customer needs, improve customer engagement and improve their shopping experience are some of the key factors driving the growth of the smart retail market. The growing adoption of smartphones and the growing need for better customer service and shopping experience increases the growth of the targeted market.

Advancement in technology

The growing combination of technologies such as virtual reality, augmented reality, artificial intelligence and IoT is the main trend of market growth to advance store processes, simplify accurate inventory management and improve customer buying experience These retail technologies allow retailers to compete against e-commerce retailers to regain lost market share, attract more customers to the store.  and advance customer retention.

Restrains:

High maintenance costs for modern high-end computer systems

High maintenance costs for modern high-end computer systems can inhibit market growth. Smart retail devices provide more accurate, faster and reliable control as well as more efficient production and distribution. However, this requires significant investment in maintenance, which is essential for the technology to reach the new market.

This technique enables multiple objects to be tested on a single smart camera, which is not always possible. There may be limitations on the growth of the smart retail market. In addition, low market access and lack of expertise in low- and middle-income countries are also some of the factors that can limit market growth.

Change in consumer attitude towards retail shopping

The change in consumer attitude towards retail shopping is affecting the progress in the smart retail market. Research and development activities are also increasing the growth rate of the smart retail market to present smart options such as interconnected devices and applications with IoT technology more efficiently.

Smart Retail Market is segmented based on ingredient, solution, application, and region.

Smart Retail Market, By Solution

On the basis of Ingredients Smart Retail Market is segmented into Hardware, Software. The smart retail market is dominated by the hardware segment and accounts for over 65.5 per cent of global revenues. As such, there is a high demand for digital signage as an effective way to interact with customers in the hardware segment as well as to provide digital experience in brick-and-mortar stores.

Smart Retail Market, By Application

On the basis of Product Smart Retail Market is segmented into Visual Marketing (Digital Signage), Smart Label (Smart Beacon and Smart Shelf), Smart Payment System (Mobile Payment Application, E-Payment System and POS System), Intelligent System (Augment Reality, Virtual Reality, Smart Carts, and Interactive Kiosks) and Others (Robotics, And Analytics). The visual marketing segment is expected to appear with a dominating position in the target market

Regional Insights:

 

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

On the basis of region, the Smart Retail Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America is the dominating region in the global smart retail market due to leading revenue and strong presence of smart retail solution providers and heightened adoption of advanced ICT technology in the retail sector.

The market in Asia Pacific is expected to register significant growth over the forecast period, owing to increasing deployment of smart retail solutions such as reception robots, shopping guide robots, virtual mirrors, and big data analytics. Markets in Latin America and Middle East and Africa are expected to register moderate growth in the target market over the forecast period.

Report Scope:

Attribute	Details
Base year for estimation	2022
Forecast period	2022 – 2032
Market representation	Revenue in USD Billion & CAGR from 2022 to 2032
Market Segmentation	By Solution - Hardware and Software By Application - Visual Marketing, Smart Label, Smart Payment System, Intelligent System and Others
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032. For the purpose of this study, has segmented the Smart Retail Market report based on solution and application and region:

Smart Retail Market, By Solution:

• Hardware
• Software

Smart Retail Market, By Application:

• Visual Marketing
• Smart Label
• Smart Payment System
• Intelligent System
• Others

Smart Retail Market, By Region:

• • • North America
      • • U.S.
        • Canada
    • Europe
      • • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa

The key players operating the Smart Retail Market includes,

• Intel Corporation designs and develops technology products and components, the company's product portfolio includes microprocessors, chipsets, embedded processors and microcontrollers, flash memory, graphic, network, and communication and conferencing. It offers processors, chipsets, motherboards, server products, wireless connectivity products, and software and applications.
• Amazon. Com, Inc., an online retailer and web service provider, the company provides clothing, auto and industrial goods, beauty and health products, electronics, groceries, books, sports, jewelry, children and baby products, movies, music, sports goods, sports goods, toys, tools, and other related products.
• The International Business Machines Corporation provides computer solutions, the company provides applications, technology consulting and support, process design and operations, cloud, digital workplace, and network services, as well as business resiliency, strategy, and design solutions.
• Samsung Electronics Services Co., Ltd., a subsidiary of Samsung group, is the manufacturer of consumer electronics, information technology, and mobile communications and device solutions.
• Cisco Systems, Inc., Cisco is an integrator of purpose-based technologies in Systems, Inc., Networking, Security, Collaboration, Applications and Cloud. The product and technology of the company helps customers to manage more users, equipment, and things connected to their networks.
• Microsoft Corporation engages in the development and support of software, services, equipment, and solutions. It operates through the following business segments: productivity and business processes, intelligent cloud, and more personal computers.
• SoftBank Group Corp., provides products and services that revolutionize the lifestyle of customers using the latest technologies, including AI, IoT and robotics. The company sells mobile devices and accessories along with mobile communication services and delivery services to retail customers in Japan and others.
• Ingenico Group., a payment solutions provider, is a company that provides payment terminals and applications, as well as in-store solutions such as management of installed terminals, connectivity, after-sale services, concentration of transactions, end-to-end security from terminal to bank or processor, and value-added services.
• VeriFone, Inc., designs, markets, and services electronic payment systems, the company offers contactless, and countertop systems, electronic cash register and payment devices and point-of-sale receipt printers. VeriFone serves financial institutions, retail merchants, consumers, government agencies, healthcare providers, and benefits recipients globally.
• NCR Corporation is a company that provides digital banking, enterprise point of sale systems and complete payment solutions. The company provides automated teller machines and payment processing hardware and software; Cash management and video banking software and customer oriented digital banking services.

• Intel Corp.*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• International Business Machines Corp.
• Samsung Electronics Service Co., Ltd.
• Microsoft Corp.
• SoftBank Group Corp.
• Ingenico Group.
• VeriFone, Inc.
• NCR Corp.
• Cisco Systems, Inc.
• Amazon. Com, Inc.

“*” marked represents similar segmentation in other categories in the respective section

Recent Development:

• In May 2022, Amazon launched Smart Commerce, a new offer that will allow storefront to be created and will offer in-store shopping experience to their walk-among customers.
• In March 2020, Honeywell and Intel have forged a collaboration to use IoT to strengthen the retail sector, this collaboration is to create new retail products that will improve inventory visibility, logistics and supply chain efficiency.
• In January 2020, Intel Corporation collaborated with Johnson Control subsidiary Sensormatic Solutions to provide scalable, AI-operated solutions for retailers, Sensormatic Solutions Open Will also take advantage of the Intel delivery of the OpenVino toolkit as well as Intel models to deliver its solutions to retailers.

1. Research Objective and Assumption
   • Preface
   • Research Objectives
   • Study Scope
   • Years Considered for the study
   • Assumptions
   • Abbreviations
2. Research Methodology
   • Research data
   • Primary Data
     • Primary Interviews
     • Primary Breakdown
     • Key data from Primary Sources
     • Key Industry Insights
   • Secondary Data
     • Major Secondary Sources
     • Secondary Sources
   • Market Estimation
   • Top-Down Approach
     • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
   • Bottom-Up Approach
     • Approach for estimating market share by Bottom-up Analysis (Demand Side)
   • Market Breakdown and Data Triangulation
   • Research Assumptions
3. Market Preview
   • Executive Summary
   • Key Findings—Global Outlook for Cell and Gene Therapy Strategies
     • Key Questions this Study will Answer
     • Market Snippet, By Solution
     • Market Snippet, By Application
     • Market Snippet, By Region
   • Opportunity Map Analysis
   • Executive Summary—3 Big Predictions
4. Market Dynamics, Regulations, and Trends Analysis
   • Market Dynamics
     • Drivers
     • Restraints
     • Market Opportunities
     • Market Trends
   • DR Impact Analysis
   • PEST Analysis
   • Porter’s Five Forces Analysis
   • Opportunity Orbit
   • Market Investment Feasibility Index
   • Macroeconomic Factor Analysis
5. Smart Retail Market, By Solution, 2022-2032, (US$ Bn)
   • Overview
     • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022-2032
     • Y-o-Y Growth Analysis (%), 2022-2032
     • Segment Trends
   • Hardware
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
   • Software
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
6. Smart Retail Market, Application, 2022-2032, (US$ Bn)
   • Overview
     • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022-2032
     • Y-o-Y Growth Analysis (%), 2022-2032
     • Segment Trends
   • Visual Marketing
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
   • Smart Label
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
   • Smart Payment System
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
   • Intelligent System
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
   • Others
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022-2032
7. Smart Retail Market, By Region, 2022-2032, (US$ Bn)
   • Overview
     • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022-2032
     • Y-o-Y Growth Analysis (%), 2022-2032
     • Regional Trends
   • North America
     • Market Size and Forecast (US$ Bn), By Solution, 2022-2032
     • Market Size and Forecast (US$ Bn), By Application, 2022-2032
     • Market Size and Forecast (US$ Bn), By Country, 2022-2032
       • U.S.
       • Canada
   • Europe
     • Market Size and Forecast (US$ Bn), By Solution, 2022-2032
     • Market Size and Forecast (US$ Bn), By Application, 2022-2032
     • Market Size and Forecast (US$ Bn), By Country, 2022-2032
       • Germany
       • UK
       • France
       • Russia
       • Italy
       • Rest of Europe
   • Asia Pacific
     • Market Size and Forecast (US$ Bn), By Solution, 2022-2032
     • Market Size and Forecast (US$ Bn), By Application, 2022-2032
     • Market Size and Forecast (US$ Bn), By Country, 2022-2032
       • China
       • India
       • Japan
       • South Korea
       • Rest of Asia Pacific
   • Latin America
     • Market Size and Forecast (US$ Bn), By Solution, 2022-2032
     • Market Size and Forecast (US$ Bn), By Application, 2022-2032
     • Market Size and Forecast (US$ Bn), By Country, 2022-2032
       • Brazil
       • Mexico
       • Rest of Latin America
   • Middle East & Africa
     • Market Size and Forecast (US$ Bn), By Solution, 2022-2032
     • Market Size and Forecast (US$ Bn), By Application, 2022-2032
     • Market Size and Forecast (US$ Bn), By Country, 2022-2032
       • GCC
       • Israel
       • South Africa
       • Rest of Middle East
8. Competitive Landscape
   • Heat Map Analysis
   • Market Presence and Specificity Analysis
9. Company Profiles
   • • Intel Corp
       • Company Overview
       • Product and Portfolio
       • Key Highlights
       • Financial Overview
       • Business Strategies
     • International Business Machines Corp
     • Samsung Electronics Service Co., Ltd.
     • Microsoft Corp.
     • SoftBank Group Corp.
     • Ingenico Group
     • VeriFone, Inc.
     • NCR Corp.
     • Cisco System, Inc.
     • Amazon. Com, Inc.
10. The Last Word
    • Future Impact
    • About Us
    • Contact