Step into the Future of Shopping with Smart Retail
Imagine a shopping experience where everything is not just convenient, but also incredibly smart. That's exactly what the Smart Retail Market is all about. In 2022, it was already valued at a whopping US$ 29.27 billion, and it's forecasted to reach a staggering US$ 111.19 billion by 2029, with a remarkable 21% CAGR throughout the forecast period.
The IoT Effect
The backbone of smart retail is the Internet of Things (IoT). Imagine smart devices and IoT making your shopping experience smoother, helping you find products, managing energy use, preventing theft, and even rewarding your loyalty. It's about making your shopping experience top-notch.
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Market Segmentation: Where the Magic Happens
by Solution
Hardware
Software
According to Solution, with a 64% market share in 2022, the hardware category led the industry. In order to give customers a seamless in-store purchasing experience, augmented reality (AR) and virtual reality (VR) gadgets, point of sale (POS) systems, Bluetooth beacons, and radio frequency identification (RFID) systems are being used more and more. Throughout the forecast period, these factors are propelling the market's expansion.
by Distribution Channel
Visual Marketing
Smart payments
Smart label
Others
Distributed by Chanel With a 32% market share in 2022, the visual marketing category led the industry. In order to maintain client attention, retailers view attractive storefronts, digital signage, interior displays, and cutting-edge lighting and visual marketing as essential components of smart retail solutions. Attracting millennials has benefited greatly from social media marketing. It enables merchants to concentrate on offering a seamless buying encounter with the least amount of disturbance to social media. The market segment's expansion is being propelled by these factors.
by Application
Foot-traffic Monitoring
Inventory Management
Loyalty Management and Payment
Predictive Equipment Maintenance
Table of Content: Smart Retail Market
Part 01: Executive Summary
Part 02: Scope of the Smart Retail Market Report
Part 03: Global Smart Retail Market Landscape
Part 04: Global Smart Retail Market Sizing
Part 05: Global Smart Retail Market Segmentation by Type
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
Smart Retail Market Key Players
1. IBM
2. Intel Corporation
3. Cisco Systems Inc.
4. NXP Semiconductors N.V.
5. Microsoft
6. Huawei Investment & Holding Co. Ltd
7. NVIDIA Corporation
8. Samsung Electronics
9. Google Inc.
10. PTC Inc.
11. Trigo
12. Standard Cognition
13. Caper Inc.
14. Zippin
15. Walmart Inc.
16. Alibaba Group Holding Limited
17. Amazon.com Inc.
18. Albert Heijn BV
19. LOTTE
20. Estimote Inc.
21. AWM SMART SHELF
22. Smartcart
23. Cozy Infosystems
24. Focal Systems Inc.
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Regional Stars and Market Players
Asia Pacific leads the charge in the Smart Retail Market, driven by countries like China, India, and Japan. They're investing in smart cities and research and development, making the region a hotspot for Smart Retail growth.
And behind all these developments are key players like Amphenol, Carlisle Companies, and Finisar, who are constantly innovating and driving this silent revolution forward.
With a bright future ahead, the Smart Retail Market is set to illuminate the world with its boundless potential. Stay tuned for more incredible developments!
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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