Smart Retail Market Size, Share, Trends, Growth and Forecast 2028

Smart Retail Market

Smart Retail Market By System (Digital Signage Solutions, Smart Labels, Smart Payment Systems, Intelligent Vending Machines, Augmented Reality Solutions, Virtual Reality Solutions, POS Solutions, Smart Carts, Robotics, and Analytics), By Application (Foot-traffic Monitoring, Inventory Management, Loyalty Management & Payment, Predictive Equipment Maintenance, Brand Protection, and Smart Fitting Rooms), By Retail Offering (Fast-moving Consumer Goods, Hardlines & Leisure Goods, Apparel & Accessories, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 - 2028

Category: Technology & Media Report Format : PDF Pages: 199 Report Code: ZMR-3318 Published Date: Apr-2022 Status : Published
Market Size in 2021 Market Forecast in 2028 CAGR (in %) Base Year
USD 21.9 Billion USD 72.9  Billion 22.8% 2021

Table Of Content

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Smart Retail Market, (2022 - 2028) (USD Billion)
    • 2.2 Global Smart Retail Market : snapshot
  • Chapter 3. Global Smart Retail Market - Industry Analysis
    • 3.1 Smart Retail Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Rising trend of digitalization is expected to drive the market growth
    • 3.3 Market Restraints
      • 3.3.1. High maintenance expenses for modern high-end computer systems may restrain the market growth
    • 3.4 Market Opportunities
      • 3.4.1. Advancement in technology is likely to boost the market during the forecast period
    • 3.5 Market Challenges
      • 3.5.1. High initial investments pose a major challenge to expanding the market in emerging countries
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By System
      • 3.7.2 Market attractiveness analysis By Application
      • 3.7.3 Market attractiveness analysis By Retail Offering
  • Chapter 4. Global Smart Retail Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Smart Retail Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Smart Retail Market - System Analysis
    • 5.1 Global Smart Retail Market overview: By System
      • 5.1.1 Global Smart Retail Market share, By System, 2021 and 2028
    • 5.2 Digital Signage Solutions
      • 5.2.1 Global Smart Retail Market by Digital Signage Solutions, 2022 - 2028 (USD Billion)
    • 5.3 Smart Labels
      • 5.3.1 Global Smart Retail Market by Smart Labels, 2022 - 2028 (USD Billion)
    • 5.4 Smart Payment Systems
      • 5.4.1 Global Smart Retail Market by Smart Payment Systems, 2022 - 2028 (USD Billion)
    • 5.5 Intelligent Vending Machines
      • 5.5.1 Global Smart Retail Market by Intelligent Vending Machines, 2022 - 2028 (USD Billion)
    • 5.6 Augmented Reality Solutions
      • 5.6.1 Global Smart Retail Market by Augmented Reality Solutions, 2022 - 2028 (USD Billion)
    • 5.7 Virtual Reality Solutions
      • 5.7.1 Global Smart Retail Market by Virtual Reality Solutions, 2022 - 2028 (USD Billion)
    • 5.8 POS Solutions
      • 5.8.1 Global Smart Retail Market by POS Solutions, 2022 - 2028 (USD Billion)
    • 5.9 Smart Carts
      • 5.9.1 Global Smart Retail Market by Smart Carts, 2022 - 2028 (USD Billion)
    • 5.10 Robotics
      • 5.10.1 Global Smart Retail Market by Robotics, 2022 - 2028 (USD Billion)
    • 5.11 Analytics
      • 5.11.1 Global Smart Retail Market by Analytics, 2022 - 2028 (USD Billion)
  • Chapter 6. Global Smart Retail Market - Application Analysis
    • 6.1 Global Smart Retail Market overview: By Application
      • 6.1.1 Global Smart Retail Market share, By Application, 2021 and 2028
    • 6.2 Foot-traffic Monitoring
      • 6.2.1 Global Smart Retail Market by Foot-traffic Monitoring, 2022 - 2028 (USD Billion)
    • 6.3 Inventory Management
      • 6.3.1 Global Smart Retail Market by Inventory Management, 2022 - 2028 (USD Billion)
    • 6.4 Loyalty Management and Payment
      • 6.4.1 Global Smart Retail Market by Loyalty Management and Payment, 2022 - 2028 (USD Billion)
    • 6.5 Predictive Equipment Maintenance
      • 6.5.1 Global Smart Retail Market by Predictive Equipment Maintenance, 2022 - 2028 (USD Billion)
    • 6.6 Brand Protection
      • 6.6.1 Global Smart Retail Market by Brand Protection, 2022 - 2028 (USD Billion)
    • 6.7 Smart Fitting Rooms
      • 6.7.1 Global Smart Retail Market by Smart Fitting Rooms, 2022 - 2028 (USD Billion)
  • Chapter 7. Global Smart Retail Market - Retail Offering Analysis
    • 7.1 Global Smart Retail Market overview: By Retail Offering
      • 7.1.1 Global Smart Retail Market share, By Retail Offering, 2021 and 2028
    • 7.2 Apparel and Accessories
      • 7.2.1 Global Smart Retail Market by Apparel and Accessories, 2022 - 2028 (USD Billion)
    • 7.3 Fast-moving Consumer Goods
      • 7.3.1 Global Smart Retail Market by Fast-moving Consumer Goods, 2022 - 2028 (USD Billion)
    • 7.4 Hardlines and Leisure Goods
      • 7.4.1 Global Smart Retail Market by Hardlines and Leisure Goods, 2022 - 2028 (USD Billion)
    • 7.5 Others
      • 7.5.1 Global Smart Retail Market by Others, 2022 - 2028 (USD Billion)
  • Chapter 8. Smart Retail Market - Regional Analysis
    • 8.1 Global Smart Retail Market Regional Overview
    • 8.2 Global Smart Retail Market Share, by Region, 2021 & 2028 (USD Billion)
    • 8.3. North America
      • 8.3.1 North America Smart Retail Market, 2022 - 2028 (USD Billion)
        • 8.3.1.1 North America Smart Retail Market, by Country, 2022 - 2028 (USD Billion)
    • 8.4 North America Smart Retail Market, by System, 2022 - 2028
      • 8.4.1 North America Smart Retail Market, by System, 2022 - 2028 (USD Billion)
    • 8.5 North America Smart Retail Market, by Application, 2022 - 2028
      • 8.5.1 North America Smart Retail Market, by Application, 2022 - 2028 (USD Billion)
    • 8.6 North America Smart Retail Market, by Retail Offering, 2022 - 2028
      • 8.6.1 North America Smart Retail Market, by Retail Offering, 2022 - 2028 (USD Billion)
    • 8.4. Europe
      • 8.4.2 Europe Smart Retail Market, 2022 - 2028 (USD Billion)
        • 8.4.2.1 Europe Smart Retail Market, by Country, 2022 - 2028 (USD Billion)
    • 8.4 Europe Smart Retail Market, by System, 2022 - 2028
      • 8.4.1 Europe Smart Retail Market, by System, 2022 - 2028 (USD Billion)
    • 8.5 Europe Smart Retail Market, by Application, 2022 - 2028
      • 8.5.1 Europe Smart Retail Market, by Application, 2022 - 2028 (USD Billion)
    • 8.6 Europe Smart Retail Market, by Retail Offering, 2022 - 2028
      • 8.6.1 Europe Smart Retail Market, by Retail Offering, 2022 - 2028 (USD Billion)
    • 8.5. Asia Pacific
      • 8.5.3 Asia Pacific Smart Retail Market, 2022 - 2028 (USD Billion)
        • 8.5.3.1 Asia Pacific Smart Retail Market, by Country, 2022 - 2028 (USD Billion)
    • 8.4 Asia Pacific Smart Retail Market, by System, 2022 - 2028
      • 8.4.1 Asia Pacific Smart Retail Market, by System, 2022 - 2028 (USD Billion)
    • 8.5 Asia Pacific Smart Retail Market, by Application, 2022 - 2028
      • 8.5.1 Asia Pacific Smart Retail Market, by Application, 2022 - 2028 (USD Billion)
    • 8.6 Asia Pacific Smart Retail Market, by Retail Offering, 2022 - 2028
      • 8.6.1 Asia Pacific Smart Retail Market, by Retail Offering, 2022 - 2028 (USD Billion)
    • 8.6. Latin America
      • 8.6.4 Latin America Smart Retail Market, 2022 - 2028 (USD Billion)
        • 8.6.4.1 Latin America Smart Retail Market, by Country, 2022 - 2028 (USD Billion)
    • 8.4 Latin America Smart Retail Market, by System, 2022 - 2028
      • 8.4.1 Latin America Smart Retail Market, by System, 2022 - 2028 (USD Billion)
    • 8.5 Latin America Smart Retail Market, by Application, 2022 - 2028
      • 8.5.1 Latin America Smart Retail Market, by Application, 2022 - 2028 (USD Billion)
    • 8.6 Latin America Smart Retail Market, by Retail Offering, 2022 - 2028
      • 8.6.1 Latin America Smart Retail Market, by Retail Offering, 2022 - 2028 (USD Billion)
    • 8.7. The Middle-East and Africa
      • 8.7.5 The Middle-East and Africa Smart Retail Market, 2022 - 2028 (USD Billion)
        • 8.7.5.1 The Middle-East and Africa Smart Retail Market, by Country, 2022 - 2028 (USD Billion)
    • 8.4 The Middle-East and Africa Smart Retail Market, by System, 2022 - 2028
      • 8.4.1 The Middle-East and Africa Smart Retail Market, by System, 2022 - 2028 (USD Billion)
    • 8.5 The Middle-East and Africa Smart Retail Market, by Application, 2022 - 2028
      • 8.5.1 The Middle-East and Africa Smart Retail Market, by Application, 2022 - 2028 (USD Billion)
    • 8.6 The Middle-East and Africa Smart Retail Market, by Retail Offering, 2022 - 2028
      • 8.6.1 The Middle-East and Africa Smart Retail Market, by Retail Offering, 2022 - 2028 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 Microsoft
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 NXP Semiconductors N.V.
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 Cisco Systems Inc.
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 Intel Corporation
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 IBM
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 Amazon.com Inc.
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 Google Inc.
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Honeywell
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 NVIDIA Corporation
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 PTC Inc.
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments

Table Of Figures

  • 1. Market research Type
  • 2. Market research methodology
  • 3. Global Smart Retail Market, 2022 - 2028 (USD Billion)
  • 4. Porter’s Five Forces Analysis
  • 5. Global Smart Retail Market attractiveness, By System
  • 6. Global Smart Retail Market attractiveness, By Application
  • 7. Global Smart Retail Market attractiveness, By Retail Offering
  • 8. Global Smart Retail Market share by System, 2022 and 2028 (USD Billion)
  • 9. Global Smart Retail Market by Digital Signage Solutions, 2022 - 2028 (USD Billion)
  • 10. Global Smart Retail Market by Smart Labels, 2022 - 2028 (USD Billion)
  • 11. Global Smart Retail Market by Smart Payment Systems, 2022 - 2028 (USD Billion)
  • 12. Global Smart Retail Market by Intelligent Vending Machines, 2022 - 2028 (USD Billion)
  • 13. Global Smart Retail Market by Augmented Reality Solutions, 2022 - 2028 (USD Billion)
  • 14. Global Smart Retail Market by Virtual Reality Solutions, 2022 - 2028 (USD Billion)
  • 15. Global Smart Retail Market by POS Solutions, 2022 - 2028 (USD Billion)
  • 16. Global Smart Retail Market by Smart Carts, 2022 - 2028 (USD Billion)
  • 17. Global Smart Retail Market by Robotics, 2022 - 2028 (USD Billion)
  • 18. Global Smart Retail Market by Analytics, 2022 - 2028 (USD Billion)
  • 19. Global Smart Retail Market share by Application, 2022 and 2028 (USD Billion)
  • 20. Global Smart Retail Market by Foot-traffic Monitoring, 2022 - 2028 (USD Billion)
  • 21. Global Smart Retail Market by Inventory Management, 2022 - 2028 (USD Billion)
  • 22. Global Smart Retail Market by Loyalty Management and Payment, 2022 - 2028 (USD Billion)
  • 23. Global Smart Retail Market by Predictive Equipment Maintenance, 2022 - 2028 (USD Billion)
  • 24. Global Smart Retail Market by Brand Protection, 2022 - 2028 (USD Billion)
  • 25. Global Smart Retail Market by Smart Fitting Rooms, 2022 - 2028 (USD Billion)
  • 26. Global Smart Retail Market share by Retail Offering, 2022 and 2028 (USD Billion)
  • 27. Global Smart Retail Market by Apparel and Accessories, 2022 - 2028 (USD Billion)
  • 28. Global Smart Retail Market by Fast-moving Consumer Goods, 2022 - 2028 (USD Billion)
  • 29. Global Smart Retail Market by Hardlines and Leisure Goods, 2022 - 2028 (USD Billion)
  • 30. Global Smart Retail Market by Others, 2022 - 2028 (USD Billion)
  • 31. Global Smart Retail Market share, by Region, 2022 and 2028
  • 32. North America Smart Retail Market, 2022 - 2028 (USD Billion)
  • 33. Europe Smart Retail Market, 2022 - 2028 (USD Billion)
  • 34. Asia Pacific Smart Retail Market, 2022 - 2028 (USD Billion)
  • 35. Latin America Smart Retail Market, 2022 - 2028 (USD Billion)
  • 36. The Middle-East and Africa Smart Retail Market, 2022 - 2028 (USD Billion)

Table Of Tables

  • 1. Global Smart Retail Market: Snapshot
  • 2. Drivers of the Smart Retail Market: impact analysis
  • 3. North America Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 4. North America Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 5. North America Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 6. U.S. Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 7. U.S. Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 8. U.S. Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 9. Canada Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 10. Canada Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 11. Canada Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 12. Europe Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 13. Europe Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 14. Europe Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 15. Germany Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 16. Germany Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 17. Germany Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 18. France Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 19. France Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 20. France Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 21. U.K. Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 22. U.K. Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 23. U.K. Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 24. Italy Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 25. Italy Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 26. Italy Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 27. Spain Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 28. Spain Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 29. Spain Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 30. Rest of Europe Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 31. Rest of Europe Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 32. Rest of Europe Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 33. Asia Pacific Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 34. Asia Pacific Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 35. Asia Pacific Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 36. China Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 37. China Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 38. China Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 39. Japan Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 40. Japan Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 41. Japan Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 42. India Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 43. India Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 44. India Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 45. South Korea Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 46. South Korea Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 47. South Korea Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 48. South-East Asia Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 49. South-East Asia Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 50. South-East Asia Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 51. Rest of Asia Pacific Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 52. Rest of Asia Pacific Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 53. Rest of Asia Pacific Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 54. Latin America Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 55. Latin America Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 56. Latin America Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 57. Brazil Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 58. Brazil Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 59. Brazil Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 60. Mexico Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 61. Mexico Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 62. Mexico Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 63. Rest of Latin America Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 64. Rest of Latin America Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 65. Rest of Latin America Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 66. The Middle-East and Africa Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 67. The Middle-East and Africa Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 68. The Middle-East and Africa Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 69. GCC Countries Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 70. GCC Countries Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 71. GCC Countries Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 72. South Africa Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 73. South Africa Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 74. South Africa Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)
  • 75. Rest of Middle-East Africa Smart Retail Market revenue, By System, 2022 - 2028 (USD Billion)
  • 76. Rest of Middle-East Africa Smart Retail Market revenue, By Application, 2022 - 2028 (USD Billion)
  • 77. Rest of Middle-East Africa Smart Retail Market revenue, By Retail Offering, 2022 - 2028 (USD Billion)

Methodology

FrequentlyAsked Questions

Retailers may have advantages from digitization in the form of additional consumers and lower operating expenses, among other things. Employees at stores may find digitalization to be tremendously inspiring. As a result, digitization can aid in revenue growth. Recently, non-store commerce is expected to develop significantly. Digital payment modalities including electronic wallets, prepaid cards, credit cards, debit cards, and other digital platforms have been driving industry expansion in recent years. The shift in customer preference toward cashless transactions, as well as the corresponding rise in the acceptance of advanced payment solutions across retail shops, such as department stores, supermarkets, and specialty stores are all contributing to the smart retail market's growth.

According to the Zion Market Research report, the global smart retail market was worth about 21.9 (USD billion) in 2021 and is predicted to grow to around 72.9 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 22.8 percent.

North America holds the dominant share in the global smart retail market. This is primarily due to several hypermarkets, supermarkets, department stores, and other types of retail stores including Schnucks Markets, Inc. and Food City in the US have installed automatic storage, POS solutions, retrieval systems, electronic shelf labels (ESLs), and self-checkout systems. Additionally, the high spending power of the sector operators in the region is collectively contributing to the growth of the market.

Some of the leading players that are operating in the global smart retail market include Microsoft, NXP Semiconductors N.V., Cisco Systems, Inc., Intel Corporation, IBM, Amazon.com, Inc., Google Inc., Honeywell, NVIDIA Corporation, and PTC, Inc.

 

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List of Contents

Industry Prospective:OverviewCOVID-19 Impact:Growth DriversRising trend of digitalization is expected to drive the market growthRestraintsHigh maintenance expenses for modern high-end computer systems may restrain the market growthOpportunitiesAdvancement in technology is likely to boost the market during the forecast periodChallengesHigh initial investments pose a major challenge to expanding the market in emerging countries.SegmentationReport Scope:Recent DevelopmentsRegional LandscapeNorth America to lead the market over the forecast period.Competitive Landscape Global smart retail market is segmented as follows:

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