Dublin, March 17, 2022 (GLOBE NEWSWIRE) — The “Smart Retail Market Share, Size, Trends, Industry Analysis Report, By Solution, By Application, By Regions; Segment Forecast, 2021-2028” report has been added to from ResearchAndMarkets.com offer.
Global smart retail market size expected to reach USD 127.28 billion by 2028
Important factors propelling the growth of the market are the technological development of real-time data analytics coupled with the increasing adoption of automation and robotics in the retail industry, which is fueling the demand smart retail on a global scale. In addition, increasing penetration and product launch of Augmented Reality, Virtual Reality, Artificial Intelligence and IoT are helping to improve customer experience as business operations will further drive the market demand for detail.
For example, in June 2021, Qualcomm announced the company’s seven new chip designs to support new IoT devices in the retail industry. In addition, the growing number of stores in emerging markets to provide more conviction to end users and the increasing strategic development of sellers propel the growth of the retail industry.
Based on the application, the visual marketing segment is leading the industry across the globe. The growing influence of social media among the population and increasing emphasis on providing better experience to end users are driving the growth of the segment.
The continuous development of technologies such as smart retail store technologies, AI facial recognition technology and smart retail communication technology in the commerce sector propels the growth of the market. Additionally, digital and online platforms offer significant opportunities for retail growth as they improve communication between customer and retailers. It also assists distributors in the organization of their value chain and their processes.
For example, in September 2019, the Ingenico group declared the company’s collaboration with a British multinational distribution company, M&S. the partnership aims to introduce a new payment service that occupies all M&S touchpoints and customer digital channels, which is essential for managing sales targets and customer experience.
Many manufacturers opt for different marketing policies or strategies to expand their business operations worldwide.
For example, in January 2021, Sensormatic Solutions introduced its new retail platform for Sensormatic IQ, helping retailers with artificial intelligence, IoT and machine learning at scale. Sensormatic IQ integrates data from third-party sources and retailers to bring full visibility into shopper information and operations, drive data-driven results for retailers, and create value opportunities for retailers.
Key players operating in the market include
- Amazon.com Inc.
- AWM SMART SHELF
- Bossa Nova Robotics
- Broadcom Corporation
- Cisco Systems
- Estimote Inc.
- Fiserv Inc.
- Google LLC
- Honeywell International Inc.
- Huawei Technologies Co.Ltd.
- IBM Corporation
- intel company
- LG Display Co.Ltd.
- NCR Company
- PAR Technology Company
- PAX Global Technology Limited
- Robert Bosch GmbH
- Samsung Electronics
- SoftBank Robotics
- Standard Cognition Corp.
- Verifone Systems
Main topics covered:
1.1. Description of the report
2. Executive Summary
2.1. Market Highlights
3. Research methodology
3.2. Data sources
4. Smart Retail Market Overview
4.1. Smart Retail – Industry Overview
4.2. Smart Retail Market Dynamics
4.2.1. Drivers and opportunities
184.108.40.206. Innovations in inventory management
220.127.116.11. Integration of artificial intelligence, internet of things and augmented reality
4.2.2. Constraints and challenges
18.104.22.168. Technical difficulties
4.3. Porter’s Five Forces Analysis
4.4. PESTLE analysis
4.5. Smart Retail Market Trends
4.6. COVID-19 Impact Analysis
5. Global Smart Retail Market, By Solution
5.1. Main conclusions
5.2.1. Global smart retail market, by solution, 2016-2028 (USD billion)
6. Smart Retail Market Assessment by Application
6.1. Main conclusions
6.2.1. Global smart retail market, by application, 2016-2028 (USD billion)
6.3. visual marketing
6.4. smart label
6.5. Smart payment system
6.6. Smart system
7. Smart Retail Market Assessment by Geography
7.1. Main conclusions
7.2.1. Smart retail market assessment, by geography, 2016-2028 (USD billion)
8. Competitive landscape
8.1. Expansion and acquisition analysis
9. Company Profiles
9.1. Company presentation
9.2. Financial performance
9.3. Product Benchmarking
9.4. Recent development
For more information on this report, visit https://www.researchandmarkets.com/r/5npux0
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