Globe Newswire
Dublin, Jan. 27, 2021 (GLOBE NEWSWIRE) -- The "Global Smart Retail Market (2020-2025) by System, Application, Retail Offering, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering. The Global Smart Retail Market is estimated to be USD 19.8 Bn in 2020 and is expected to reach USD 52 Bn by 2025, growing at a CAGR of 21.3%.Technological innovation is changing the shopping experience of the customer, so the distributor can concentrate on particular consumer needs and boost business. To understand consumer behavior and their needs, retailers carry out surveys. They also use smart retail solutions to attract, acquire, and turn customers into sales, such as NFC (Near Field Communication). The use of such technology allows retailers to encourage and improve sales with a better brand image.The main factors driving the growth of this market are the growing use of robotics and automation to provide consumers with shopping comfort and the increasing adoption by retailers of big data analytics, machine learning, blockchain, and AI technologies.Similarly, the main factor expected to hamper the growth of the global smart retail industry is data protection issues related to online transactions. Moreover, a growing number of brick and mortar retailers may, to some degree, restrict market growth over the forecast period.It is also anticipated that rising Internet of Things (IoT) participation in various business avenues would create lucrative opportunities for players operating in the global smart retail industry. Lack of compliance of IoT solution providers and integrators, and lack of user knowledge and awareness for smart retail, are creating challenges for the adoption of the smart retail market.Segments CoveredBased on System, the Robotic Segment had the largest share of the global smart retail market. Robots automate the process of identifying and segregating clients according to their purchase patterns. Thus, in supermarkets, hypermarkets, and other retail stores, an increase in robots' deployment is seen to make the shopping experience simple for customers.Based on the Application, the Foot Traffic Monitoring Segment accounted for the highest share of the global smart retail industry. Dominance is due to the rise in awareness among retailers of foot-traffic monitoring. In-store foot-traffic tracking is essential because it provides retailers with insights into various facets of stores, including the effects of marketing campaigns, and helps them plan growth strategies based on consumer buying history.Based on Consumer Offering, the smart retail market for fast-moving consumer goods is anticipated to grow at the highest rate during the forecast period. This segment's growth can be attributed to the rising demand for fast-moving consumer goods from the continuously increasing global population.There are a significant number of supermarkets, hypermarkets, department stores, and other types of retail stores in North America, that have introduced on-site POS solutions, automated storage and retrieval systems, Global Smart carts, electronic shelf labels (ESLs), and self-checkout systems. As a result, the largest share of the Global Smart retail market was held by North America.Market DynamicsDrivers Rising Internet UsageTechnological AdvancementsReducing Cost of Electronic ComponentsRising Adoption of Global SmartphonesThe Increasing Pursuit of Providing Better Service Restraints Data Security Concerns in Online TransactionsChances of Data Loss in case of any MalfunctionIncreasing Number of Brick & Mortar Retailers Opportunities Rising Entanglement of Internet of Things (IoT)Growing Number for Global Smart Stores Leading to Rising in Adoption of Self Delivery Vehicles Challenges Lack of compliance of IoT solution providers and integratorsLack of user knowledge and awareness Key Topics Covered: 1 Report Description2 Research Methodology3 Executive Summary4 Market Overview4.1 Introduction 4.2 Market Dynamics4.3 Trends5 Market Analysis5.1 Porter's Five Forces Analysis5.2 Impact of COVID-195.3 Ansoff Matrix Analysis6 Global Smart Retail Market, By System6.1 Introduction6.2 Digital Signage Solution6.2.1 Displays6.2.2 Media Players, Pcs, and Set-Top Boxes6.2.3 Mounts & Cables6.3 Smart Labels6.3.1 Smart Beacons6.3.1.1 BLE6.3.1.2 Hybrid6.3.2 Electronic Shelf Labels6.3.2.1 LCD electronic shelf labels6.3.2.2 Segmented E-paper electronic shelf labels6.3.2.3 Full-graphic E-paper electronic shelf labels6.4 Smart Payment Systems6.4.1 NFC-READY POS TERMINALS6.4.2 NFC-READY MPOS TERMINALS6.5 Intelligent Vending Machines6.6 Augmented Reality Solutions6.7 Virtual Reality Solutions6.8 POS solutions6.9 Smart carts6.10 Robotics6.11 Analytics7 Global Smart Retail Market, By Application7.1 Introduction7.2 Foot-Traffic Monitoring7.3 Predictive Equipment Maintenance7.4 Inventory Management7.5 Smart Fitting Rooms7.6 Brand Protection7.7 Loyalty Management and Payments8 Global Smart Retail Market, By Retail Offering8.1 Introduction8.2 Apparel and Accessories8.3 Fast-Moving Consumer Goods8.4 Hardlines and Leisure Goods8.5 Others9 Global Smart Retail Market, By Technology9.1 Introduction9.2 Visual Recognition9.3 Blockchain9.4 Artificial Intelligence (AI)9.5 Mobile10 Global Smart Retail Market, By Geography11 Competitive Landscape11.1 Competitive Quadrant11.2 Market Share Analysis11.3 Competitive Scenario12 Company Profiles IBMIntel CorporationCiscoNXP SemiconductorsMicrosoftHuawei Investment & Holding Co., Ltd.Nvidia CorporationSamsung ElectronicsGoogle Inc.Ptc Inc.TrigoLG DisplayPar Technology CorporationTexas Instruments Inc.Stmicroelectronics N.V.Honeywell International Inc.Robert Bosch GmbhSoftbank Robotics Group Corp.Roadcom Inc.IngenicoVerifone, Inc.First Data CorporationNCR CorporationInfineon TechnologiesDiebold NixdorfPricerProbiz TechnologiesSes-ImagotagE Ink Holdings Inc.Bossa Nova RoboticsFive Elements RoboticsStandard Cognition For more information about this report visit https://www.researchandmarkets.com/r/tfnw9j Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. 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