The report covers the market for smart retail with regards to their applications across different regions. It also focusses on the major trends and challenges that affect the market and the vendor landscape. The report estimates the global market for smart retail in 2020 and provides projections of the expected market size through 2025.
Smart retail refers to smart technologies intended to provide faster, smarter, safer, and more convenient services to customers while shopping. In addition to improving customer experience, these services accelerate inventory management and enhance store operations. Technologies such as artificial intelligence, augmented reality, virtual reality, and IoT are encouraging the implementation of smart retail applications and propelling the market growth.
Leading players operating in this market such as Intel Corp., Samsung Electronics, IBM, Nvidia, Google Inc., Microsoft Corp., Amazon, and NXP Semiconductors are investing in smart retail technology to help improve operations and serve their customers. For instance, Amazon announced Amazon Go, a smart grocery store utilizing IoT technology to provide customers with the shopping experience with cashier-less checkout. Also, in November 2019, Standard Cognition entered into an agreement with Mars Wrigley, a manufacturer of chocolates, chewing gums, mints, and fruity confections, to help Mars Wrigley with autonomous checkout solutions.
The deployment of robots and automation in stores and warehouses to optimize processes is one of the major factors driving the growth of this market. Moreover, in-store mobile marketing is becoming increasingly more sophisticated, and it is being used by retailers around the globe.
Smartphone use is becoming a disruptor, and retailers are embracing it to usher in sales by making the shopper’s journey more efficient. To create a smart shopping experience for in-store customers, retailers are investing in innovation to engage and interact with customers.
In this report, the global smart retail market has been segmented based on application, technology, system, and geography. Based on application category, the smart retail market has been categorized into promotional advertising, in-store experience, check-out solutions, and others.
Various in-store experience platforms include smart fitting rooms, customer experience/engagement through the use of technologies, electronic shelf labels (ESLs), robotics, intelligent retail Wi-Fi, smart vending machines and shelves, electronic article surveillance (EAS), smart mirrors, augmented reality and virtual reality tours, and so on.
The Report Includes:
- 30 data tables and 14 additional tables
- An overview of the global market for smart retail
- Analyses of market trends, with data from 2019, estimates for 2020, and projections of compound annual growth rates (CAGRs) through 2025
- Identification of new opportunities, challenges, and technological changes within the smart retail applications industry
- A look at the major steps taken to improve customer experience and efficient management of business operations and insights into government initiatives to boost economies
- Detailed analysis of the current market trends, market forecast, and discussion of technological, regulatory, and competitive elements as well as economic trends affecting the future marketplace for smart retail applications
- Market share analysis of the key companies of the industry, their strategic profiling, competitive landscape, and their detailed company profiles, including Intel Corp., Samsung Electronics, Nvidia, Google Inc., Microsoft Corp., and Amazon
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Smart Retail: Market Overview
- Future of Smart Retail
- Market Drivers
- Deployment of Robots and Automation to Offer Shopping Convenience
- Adoption of Big Data Analytics by Retailers to Understand Customer Behavior
- Smartphones Complementing the Implementation of New Technologies by Retailers
- Market Restraints
- Cyber Security Attacks and Data Security Concerns Rising Among Retailers
- Maintenance Costs of Advanced High-End Computing Systems
- Market Opportunities
- Internet of Things is Projected to Create Rewarding Opportunities for Players Offering Smart Solutions for Retail
- Predictive Commerce is Likely to Become an Opportunity for the Market for Smart Retail
Chapter 4 Smart Retail Use Cases
- Amazon Go: Making a Cashierless Store
- Intelligent Retail Lab: Keeping Track of Inventory
- The Kroger Co.
- EDGE Shelf: Digital Displays Improve the Shopping Experience
- The Home Depot
- A Data-Driven Approach with Google Cloud’s BigQuery
- Integrating Retail and Digital Marketing Strategy to Attract Shoppers
Chapter 5 Market Breakdown by System
Chapter 6 Market Breakdown by Application
- Promotional Advertising
- In-store Experience
- Checkout Solutions
Chapter 7 Market Breakdown by Technology
- Artificial Intelligence (AI)
- Internet of Things (IoT)
- Other Technologies
Chapter 8 Market Breakdown by Region
Chapter 9 Competitive Landscape
- Types of Players in the Market
- Market Leaders
- Market Challengers
- Niche Players
- Market Ranking Analysis
- Top-Ranked Companies
- NCR Corp.
- Microsoft Corp.
- Intel Corp.
- Select Insights from Industry Leaders
Chapter 10 Company Profiles
Major Players in the Market
- Cisco Systems Inc.
- Google Inc.
- Intel Corp.
- NCR Corp.
- NXP Semiconductors N.V.
- PTC Inc.
- Samsung Electronics Co. Ltd.
- Bosch Group
- Broadcom Ltd.
- Diebold Nixdorf Inc.
- First Data Corp.
- Infineon Technologies Ag
- LG Display
- Par Technology
- Pricer Ab
- Texas Instruments
- Verifone Inc.
- Caper Inc.
- Probiz Technologies Pvt Ltd.
- Standard Cognition
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