Global Smart Retail Market Report 2023-2027 & 2032: Digital Signage, AI, and More - Transforming the Shopping Experience with Innovative Technology

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Oct 05, 2023, 06:30 ET

DUBLIN, Oct. 5, 2023 /PRNewswire/ -- The "Smart Retail Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

The global smart retail market grew from $34.73 billion in 2022 to $43.73 billion in 2023 at a compound annual growth rate (CAGR) of 25.9%. The smart retail market is expected to grow to $108.37 billion in 2027 at a CAGR of 25.5%.

Smart retail systems encompass various technologies, including digital signage, smart labels, payment solutions, and more. Digital signage, for example, replaces traditional boards with dynamic screens, serving purposes like wayfinding, marketing, and outdoor advertising.

These technologies leverage innovations like visual recognition, blockchain, AI, and mobile devices for applications such as foot-traffic monitoring, inventory management, loyalty programs, and brand protection.

The smart retail market thrives on technological advancements. Industry leaders continuously develop innovative solutions to stay competitive. Amazon, for instance, introduced the "Just Walk Out" technology, enabling shoppers to skip traditional checkout lines by using their Amazon account information or scanning a QR code. Instacart's acquisition of Caper AI further demonstrates the industry's commitment to enhancing the in-store and online shopping experience for customers.

The use of robots and automation is reshaping the smart retail landscape. Automation streamlines tasks typically performed by humans, while robotics involves the design and use of machines to handle various functions.

These technologies enhance collaboration between R&D, manufacturing, and marketing departments, offering shoppers unmatched convenience. With the International Federation of Robotics reporting a 12% increase in industrial robot usage, the smart retail market is set to benefit significantly from this trend.

North America led the smart retail market in 2022, while Asia-Pacific is expected to witness the fastest growth. The global smart retail market spans regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, and the Middle East and Africa.

Embrace the future of retail with smart technologies, where innovation meets convenience and automation redefines the shopping experience. Major industry players such as Amazon and Instacart are redefining customer experience and operations with innovative smart retail solutions, setting precedents for the rest of the industry.

Major players in the smart retail market are

Honeywell International Inc.
Huawei Technologies Co. Ltd.
LG Display Co. Ltd.
Intel Corporation
Samsung Electronics
Verifone Systems
IBM Corporation
Cisco Systems
Ingenico
Amazon.com Inc.
NCR Corporation
PAX Global Technology Limited
Fiserv Inc.
Google LLC
AWM Smart Shelf
Bossa Nova Robotics.

Key Topics Covered:

1. Executive Summary

2. Smart Retail Market Characteristics

3. Smart Retail Market Trends And Strategies

4. Smart Retail Market - Macro Economic Scenario

4.1. COVID-19 Impact On Smart Retail Market

4.2. Ukraine-Russia War Impact On Smart Retail Market

4.3. Impact Of High Inflation On Smart Retail Market

5. Smart Retail Market Size And Growth

5.1. Global Smart Retail Historic Market, 2017-2022, $ Billion

5.1.1. Drivers Of The Market

5.1.2. Restraints On The Market

5.2. Global Smart Retail Forecast Market, 2022-2027F, 2032F, $ Billion

5.2.1. Drivers Of The Market

5.2.2. Restraints On the Market

6. Smart Retail Market Segmentation

6.1. Global Smart Retail Market, Segmentation By System, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Digital Signage Solutions
Smart Labels
Smart Payment Systems
Intelligent Vending Machines
Augmented Reality Solutions
Virtual Reality Solutions
Other Systems

6.2. Global Smart Retail Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Visual Recognition
Blockchain
Artificial Intelligence
Mobiles

6.3. Global Smart Retail Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Foot-Traffic Monitoring
Inventory Management
Loyalty Management and Payment
Predictive Equipment Maintenance
Brand Protection
Other Applications

7. Smart Retail Market Regional And Country Analysis

7.1. Global Smart Retail Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

7.2. Global Smart Retail Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/pojbji

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