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.
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.
For More Information: www.grandviewresearch.com
