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Smart Retail: Technologies and Global Markets

Smart Retail: Technologies and Global Markets

  • October 2021
  • 123 pages
  • ID: 5976184
  • Format: PDF
  • BCC Research

Summary

Table of Contents

Report Scope:
In this report, the global market for smart retail technologies is segmented by application, system, technology, and geography.Using 2020 as the base year, the report provides estimated market data and revenue forecasts for 2021 through 2026.

Market values have been estimated based on the total revenues of providers of smart retail solutions.

Report Includes:
- 53 data tables and 11 additional tables
- An updated review of the global market for smart retail technologies
- Analyses of the global market trends, with data from 2020, estimates for 2021, 2022 and 2024, with projections of compound annual growth rates (CAGRs) through 2026
- Evaluation and forecast the smart retail market size (in USD millions), and corresponding market share analysis by system component, application, technology, retailer size, and geography
- Latest information on major market dynamics (DROs), recent developments, technology updates, industry structure, regulatory scenario, and other significant factors affecting the smart retail applications market growth
- Country specific data and market value analysis for the U.S., Canada, Mexico, China, India, Japan, South Korea, France, Germany, U.K., and other emerging economies in the smart retail market
- A look at the major steps taken to improve customer experience and efficient management of business operations and insights into government initiatives to boost economies
- Insight into the recent industry strategies, M&A deals of key players operating within the global market; their key competitive landscape and company share analysis
- Impact analysis of COVID-19 pandemic on the market for smart retail technologies
- Profile descriptions of the leading smart retail industry players, including Amazon.com Inc., Google Inc., Intel Corp., Microsoft, Samsung Electronics Co. Ltd., and Cisco Systems Inc.

Summary:
Smart retail technologies provide faster, smarter, safer and more convenient services to shoppers.In addition to improving customer experience, these services accelerate inventory management and enhance store operations.

Technologies such as AI, AR, VR and IoT are encouraging the implementation of smart retail applications and propelling market growth.

The global market for smart retail technologies was estimated at $REDACTED billion in 2020 and is expected toreach $REDACTED billion by 2026, growing at a CAGR of REDACTED%.The deployment of robots and automation in stores and warehouses to optimize processes is one of the major factors driving the growth of this market.

Moreover, in-store mobile marketing is becoming increasingly more sophisticated, and it is being used by retailers around the globe.Smart phone use is becoming a disruptor, and retailers areembracing it to usher in sales by making the shopper’s experience more efficient.

Retailers are investingin innovation that can help them better engage and interact with customers.

In this report, the global market for smart retail technology market is segmented by application, technology, system and geography.In terms of application, the market is categorized into promotional advertising, in-store experience, check-out solutions and others.

In-store experience platforms include smart fitting rooms, customer experience/engagement through the use of technologies, electronic shelf labels (ESLs), robotics, intelligent retailWi-Fi, smart vending machines and shelves, electronic article surveillance (EAS), smart mirrors, and AR and VR tours.

In terms of technology, the market is categorized into AI, IoT, AR/VR, robotics, analytics, and others.IoT currently accounts for the dominant Shares of the market.

IoT is useful in deploying smart inventory management systems based on RFID tags, store shelf sensors, beacons, digital price tags and video monitoring combined with image analysis to improve procurement planning at every stage of the supply chain.

With IoT data analytics, when the product starts to run out, the system can automatically reorder the required items. For example, Kroger, the largest U.S. supermarket chain, installed REDACTED smart shelves in its supermarkets. The shelves are equipped with RFID tags that read items and send the data to an IoTsystem. RFID-equipped smart shelves allow retailers such as Kroger to constantly improve customer service in real time.

In terms of system, the market is segmented into hardware and software. Hardware currently has the larger market share, but software is expected to grow at the higher growth rate of REDACTED% during the forecast period.

Geographically, the smart retail technologies market has been segmented into North America, Europe, Asia-Pacific and rest of the world (RoW).

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