San Francisco, 21 December 2018: The Report Smart Retail Market Analysis Report By Application (Smart Label, Visual
Marketing, Smart Payment System, Intelligent System), By Solution (Software,
Hardware), And Segment Forecasts, 2018 - 2025
The global smart retail market size is expected to reach USD 58.23 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 23.9% during the forecast period. In present day retail industry, conventional bricks-and-mortar stores are facing intense competition from rapidly expanding e-commerce sector. Therefore, traditional retailers need to incorporate smart retail technology to bring back their customers. The technology helps enhance digital shopping experience in physical stores. Of late, customers demand personalized, high-quality assistance in a store as well as end-to-end connected experience to internet environment.
Main components of a smart retail system
are integration, connectivity, and big-data analytics. This allows retailers to
provide their customers with products and services tailored to their
preferences and help in effective client communication, which further improve
customer experience and retention. The hardware segment held significant share
in the market in 2017. On the basis of application, the others segment, which
includes robotics and analytics application, is estimated to gain traction over
the forecast period and is expected to reach over USD 12.14 billion by 2025.
Growing use of big data analytics in order
to understand the need of customers, improve customer engagement, and their
shopping experience is anticipated to contribute to the growth of the market.
Surging use of advanced technology such as BLE beacons, near field
communications (NFC), and mPOS retailer can help enhance customer experience as
well as increase in-store data collection. This collected data can be further
utilized to provide customers with product and assistance in the better manner.
Access Research Report of Smart Retail Market@ www.grandviewresearch.com/industry-analysis/smart-retail-market
Further key findings from the report suggest:
· The visual marketing segment emerged as the
largest market in 2017 and is estimated to reach USD 16.01 billion by 2025
· The software segment is anticipated to
witness the highest CAGR of 26.1% over the forecast period
· The Asia Pacific smart retail market is
expected to experience the highest CAGR during the same period. Growing
adoption of smart retail solutions such as RFID, facial recognition, and big
data analytics by retailers in China and Japan in order to provide ease of
online shopping experience within a physical store
· Key players include Intel Corporation; IBM;
Samsung Electronics; Amazon; Google, Inc.; Microsoft Corporation; Softbank
Robotics Holdings; Ingenico S.A.; Verifone Systems; NCR Corporation.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented global
smart retail market on the basis solution, application, and region:
Smart Retail Solution Outlook (Revenue, USD
Million, 2015 - 2025)
·
Hardware
·
Software
Smart Retail Application Outlook (Revenue,
USD Million, 2015 - 2025)
·
Visual Marketing
·
Smart Label
·
Smart Payment System
·
Intelligent System
·
Others (Robotics, analytics)
Smart Retail Regional Outlook (Revenue, USD
Million, 2015 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
MEA
Access Press Release of
Smart Retail Market@ www.grandviewresearch.com/press-release/global-smart-retail-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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