With the emergence and long-term Impact of COVID-19, the Global Smart Retail Market to reach USD XX Billion by 2029
Bizwit Research & Consulting LLP’s Recent Analysis on Global Smart Retail Market is poised to raised USD XX billion by 2029. Smart Retail solutions typically leverage data analytics to gain insights into customer behavior, preferences, and buying patterns, which can be used to create personalized experiences and offer targeted promotions. The key factor driving the market growth is growing adoption of big data analytics, machine learning, blockchain, and artificial intelligence technologies by retailers, rising use of robots and automation to offer shopping convenience to customers, and changing customer expectations leading to increased use of smart technologies by retailers is anticipated to create the lucrative demand for the market during forecast period. Moreover, the rising adoption of robots and automation in retail stores to offer convenience shopping experience to customers is anticipated to boost the market growth. In Jan. 2020, Bossa Nova Robotics, a company based in the Bay area, has announced the collaboration with Walmart Inc. to deliver shelf-scanning inventory robots to 1,000 Walmart shops across the US. Additionally, rising investment by the market players for the development of smart stores and growing adoption of connected devices is anticipated to create the lucrative opportunity for the market during forecast period.
The key regions considered for the Global Smart Retail Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the dominating region across the world in terms of market share, owing to the presence of key market players, growing adoption of connected devices and rising number of retail stores in the region. Whereas, Asia Pacific is also anticipated to exhibit highest growth rate over the forecast period, owing to factors such as increasing deployment of Smart Retail solutions such as big data analytics, reception robots, intelligent dressing mirrors, and shopping guide robots in countries such as China and Japan would create lucrative growth prospects for the Smart Retail market across Asia Pacific region.
The Global Smart Retail Market is highly competitive owing to the presence of several key manufacturers such as Amazon.com, Inc., NCR Corporation, PAX Global Technology Limited, Ingenico, Fiserv, Inc., Google LLC, Honeywell International Inc., Huawei Technologies Co., Ltd., LG Display Co., Ltd., Intel Corporation, Samsung Electronics.
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Global Smart Retail Market Size study & Forecast, by Solution (Hardware, Software) by Application (Visual Marketing, Smart Label, Smart Payment System, Intelligent System, Others) and Regional Analysis, 2022-2029
Key findings of the study suggest:
- Global Smart Retail Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029
- In the Solution segment, Hardware emerged as the leading market segment in 2022.
- North America is the leading/significant region across the world in terms of market share owing to the presence of key market players, growing adoption of connected devices and rising number of retail stores in the region.
- Asia-Pacific is expected to grow at a higher rate during 2022-2029
Bizwit Research & Consulting has considered the following segments for the study:
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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