The global market for Smart Retail is estimated at US$35.4 Billion in 2023 and is projected to reach US$140.6 Billion by 2030, growing at a CAGR of 21.8% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the smart retail market is driven by several factors that reflect the changing landscape of technology, consumer behavior, and economic conditions. Technological innovations, such as AI, IoT, and big data analytics, are crucial as they provide the backbone for creating efficient and personalized shopping experiences. Consumer demand for convenience, speed, and personalization in shopping experiences influences retailers to adopt smart technologies that meet these expectations. Moreover, the COVID-19 pandemic accelerated the adoption of contactless services and digital solutions in retail, a trend that is likely to continue post-pandemic.
The economic benefits associated with smart retail, including reduced operational costs and increased sales through targeted marketing and optimized stock management, also contribute to its growth. Additionally, as consumers become more tech-savvy, there is a natural progression towards embracing digital solutions in retail settings, further driving the market forward. These drivers ensure the sustained relevance and expansion of smart retail in the global market.
The growth in the smart retail market is driven by several factors that reflect the changing landscape of technology, consumer behavior, and economic conditions. Technological innovations, such as AI, IoT, and big data analytics, are crucial as they provide the backbone for creating efficient and personalized shopping experiences. Consumer demand for convenience, speed, and personalization in shopping experiences influences retailers to adopt smart technologies that meet these expectations. Moreover, the COVID-19 pandemic accelerated the adoption of contactless services and digital solutions in retail, a trend that is likely to continue post-pandemic.
The economic benefits associated with smart retail, including reduced operational costs and increased sales through targeted marketing and optimized stock management, also contribute to its growth. Additionally, as consumers become more tech-savvy, there is a natural progression towards embracing digital solutions in retail settings, further driving the market forward. These drivers ensure the sustained relevance and expansion of smart retail in the global market.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Smart Retail Hardware segment, which is expected to reach US$77.6 Billion by 2030 with a CAGR of a 19.8%. The Smart Retail Software segment is also set to grow at 24.6% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $8.5 Billion in 2023, and China, forecasted to grow at an impressive 23.6% CAGR to reach $19.9 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Smart Retail Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Smart Retail Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Smart Retail Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Hitachi Ltd., Honeywell International, Inc., Google LLC, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 61 Featured):
- Hitachi Ltd.
- Honeywell International, Inc.
- Google LLC
- Amazon.com, Inc.
- Amazon Web Services, Inc.
- Capgemini SE
- Avnet, Inc.
- Deloitte Touche Tohmatsu Ltd.
- Google Cloud Platform
- Hitachi Vantara LLC
- Bossa Nova Robotics, Inc.
- Diebold Nixdorf, Inc.
- Estimote, Inc.
- Focal Systems Inc.
- Clovity
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARYIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
COMPETITIVE LANDSCAPE
RECENT MARKET ACTIVITY
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
Companies Mentioned
- Hitachi Ltd.
- Honeywell International, Inc.
- Google LLC
- Amazon.com, Inc.
- Amazon Web Services, Inc.
- Capgemini SE
- Avnet, Inc.
- Deloitte Touche Tohmatsu Ltd.
- Google Cloud Platform
- Hitachi Vantara LLC
- Bossa Nova Robotics, Inc.
- Diebold Nixdorf, Inc.
- Estimote, Inc.
- Focal Systems Inc.
- Clovity
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 476 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 35.4 Billion |
| Forecasted Market Value ( USD | $ 140.6 Billion |
| Compound Annual Growth Rate | 21.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
