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Smart Retail Devices Market (Technology - Digital Signage, Smart Labels, Smart Payments, Smart Carts, Electronic Shelf Labels, and Others; Application - Smart Transportation, Predictive Equipment Maintenance, Inventory Management, Smart Fitting Room, Foot Traffic Monitoring, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : August, 2021

  • Rep Id : ICT00285

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on the smart retail devices market provides in-depth analysis of segments and sub-segments in the global as well as regional smart retail devices market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional smart retail devices market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global smart retail devices market. According to the report, the global smart retail devices market is projected to grow at a CAGR of 6.43% over the forecast period of 2021-2027.

 

Smart Retail Devices Market



Market Insight

The smart retail devices market was valued at USD 18.35 billion in 2020 and is expected to reach USD 27.99 billion in 2027, growing with a CAGR of 6.43% during the forecast period. Retail stores are focusing on utilizing the developing technologies, for instance, cloud, mobile, RFID, beacons, and others, to offer connected retail services and a better shopping experience to consumers. For instance, store proprietors are integrating sensors in the main zones of retail stores and connecting them to the cloud via a gateway that permits real-time data analysis associated with products, sales, and customers from the sensors. Furthermore, smart devices and IoT in retail help retailers augment the customer experience and propel more enhanced customer engagement which considerably alters the day-to-day store operations.

 

The increasing usage of robotics and automation in the retail industry and increasing adoption of big data analytics & IoT in the retail industry boosts the smart retail devices market. Moreover, a surge in purchasing power of consumers and economic growth is the major drivers considerably affecting the smart retail devices market growth in the near future. On the other hand, augmented maintenance costs of advanced high-end computing systems and high risks of consumer data thefts have a significant negative impact on the smart retail devices market growth. Additionally, technological advancements with real-time data analysis and a rise in the number of smart stores are anticipated to offer lucrative smart retail devices market opportunities worldwide.

 

Among the geographies, the North American region is expected to hold the largest share in the global smart retail devices market owing to the growing retail industry across the region. The United States and Canada are anticipated to be the major revenue contributors in the North American smart retail devices market. Furthermore, the Asia Pacific region is projected to grow at the fastest rate in the global smart retail devices market during the projection period, owing to its growing industrialization across the region. Additionally, increasing deployment of smart retail solutions such as big data analytics, intelligent dressing mirrors, reception robots, and shopping guide robots in countries such as Japan and China is anticipated to drive the smart retail devices market in Asia Pacific region.

 

Segment Covered

The report on global smart retail devices market covers segments such as technology, and application. On the basis of technology, the sub-markets include digital signage, smart labels, smart payments, smart carts, electronic shelf labels, and others. On the basis of application, the sub-markets include smart transportation, predictive equipment maintenance, inventory management, smart fitting room, foot traffic monitoring, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Intel, Cisco, IBM, NXP Semiconductors, Microsoft Corporation, NVIDIA Corporation, Samsung Electronics, Texas Instrument, Softbank Robotics, and PAX Global Technology.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the smart retail devices market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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