Smart Retail Market Major Industry Growth and Future Revenue

The Smart Retail Market size was valued at USD 29.84 Billion in 2023 and the total Smart Retail Market revenue is expected to grow at a CAGR of 22.06% from 2024 to 2030, reaching nearly USD 120.46 Billion.

Smart Retail Market Overview:

The detailed market analysis presents a thorough examination of the evolving competitive landscape, offering key insights into market share dynamics and providing detailed profiles of prominent global players. This analysis of the Smart Retail Market provides a closer look at the fundamental drivers of regional growth variations within the Smart Retail sector. It outlines the critical factors contributing to the growth of the industry, highlighting regional trends and potential opportunities that are shaping the market's future.

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Smart Retail Market Scope: 

Following the market valuation phase, we embarked on an exhaustive primary research endeavor to gather, analyze, and validate crucial data. This encompassed evaluating market size, forecasting, identifying key drivers, and cross-referencing data during statistical analysis. Employing both top-down and bottom-up methodologies, alongside other validation techniques, we meticulously scrutinized market segments and sub-segments outlined in this study. All collated data underwent rigorous qualitative and quantitative analysis to ensure the provision of robust insights in the report.

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Smart Retail Market Segmentation

by Solution

Hardware
Software


According to Solution, the software industry is anticipated to increase at the fastest rate, with a compound annual growth rate (CAGR) of 23.15% from 2024 to 2030. The growing use of analytics software by retailers across the globe is driving the expansion of the smart retail market. This improves customer engagement and the buying experience by allowing them to comprehend the distinct requirements and behaviors of end users. It is projected that this trend will generate significant analytics opportunities in smart commerce.

by Application

Visual Marketing
Smart Label
Smart Payment System
Intelligent System
Others (Robotics, Analytics)


With a nearly 35% market share in 2023, the visual marketing category leads the smart retail market by application. One of the main factors propelling the development of the smart retail market is visual marketing. The importance of visual elements in engaging and involving customers has increased with the rise of digital signage, interactive displays, and augmented reality. Retailers provide engaging and customized experiences by exhibiting goods, special offers, and brand messaging in an immersive way using visual marketing. This tactic enhances the entire customer experience and creates a lively in-store atmosphere. Additionally, graphic marketing promotes impulse buys, aids in decision-making, and makes product discovery more efficient. Smart merchants successfully draw in customers, strengthen brand loyalty, and eventually increase sales and revenue streams by strategically utilizing graphic aspects.

 

Smart Retail Market Key Players

North America Smart Retail Market Top Players:
1. IBM - United States
2. Intel Corporation - United States
3. Cisco Systems Inc. - United States
4. NVIDIA Corporation - United States
5. Google Inc. - United States
6. PTC Inc. - United States
7. Standard Cognition - United States
8. Caper Inc. - United States
9. Zippin - United States
10. Walmart Inc. - United States
11. Amazon.com Inc. - United States
12. Focal Systems Inc. - United States
13. Estimote Inc. - United States
14. AWM SMART SHELF - United States
15. Smartcart - United States
Europe Smart Retail Market Top Players:
16. NXP Semiconductors N.V. – Netherlands
17. Trigo – Israel
18. Albert Heijn BV – Netherlands
APAC Smart Retail Market Top Players:
19. Cozy Infosystems – India
20. LOTTE - South Korea
21. Huawei Investment & Holding Co. Ltd – China
22. Samsung Electronics - South Korea

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Smart Retail Market Regional Insights

The regional analysis conducted by Smart Retail Market research experts focuses on identifying specific market drivers within various regions and highlights shifts in regulatory policies that affect market trends. By studying both well-established and emerging regional trends, this analysis evaluates untapped opportunities and identifies lucrative trends to help companies enhance their market positioning. The assessment also provides a forecast of the regional market landscape, shedding light on future developments and potential areas for growth.

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Key questions answered in the Smart Retail Market are:

  • What is Smart Retail?
  • What is the growth rate of the Smart Retail Market?
  • Which are the factors expected to drive the Smart Retail market growth?
  • What are the different segments of the Smart Retail Market?
  • What growth strategies are the players considering to increase their presence in Smart Retail?
  • What are the upcoming industry applications and trends for the Smart Retail Market?
  • What are the recent industry trends that can be implemented to generate additional revenue streams for the Smart Retail Market?

Key Offerings:

  • Market Size, Share, Size & Forecast by different segment
  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
  • Market Segmentation – A detailed analysis by segment with their sub-segments and Region
  • Competitive Landscape – Profiles of selected key players by region from a strategic perspective
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis

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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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