In a recent published report, Kenneth Research has updated the market report for Smart Retail Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Smart Retail Market products.
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By the end of 2050, the world’s population aged 60 years and above is anticipated to reach 2 billion, states the World Health Organization (WHO), in one of its statistics. Additionally, several manufacturers are increasingly showing interest for manufacturing healthy beverages, which is also anticipated to drive the growth of the market in the coming years.
Global Smart Retail Industry to reach USD 59.02 billion by 2025. Global Smart Retail Industry valued approximately USD 8.56 billion in 2016 is forecasted to grow with a healthy growth rate of more than 23.90% over the forecast period 2018-2025. The Industry growth is primarily attributed to prominent new technologies generates new incomes for retailers, growing espousal of smartphones, diminishing costs of electronics components, rising demands for the better shopping experience and customer services. Smart retail is a term that is used to describe a set of smart technologies which are intended to give the consumer a safer, faster, greater, and smarter experience when shopping.
The regional analysis of Global Smart Retail Industry is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of Industry share. Moreover, North America region is also expected to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
The objective of the study is to define Industry sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the Industry. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The major market players in Smart Retail Industry players include Google, Intel, Par Technology Corporation, NVIDIA, Microsoft, IBM, Amazon, Samsung Electronics, SoftBank Robotics Holdings Corp., Verifone Holdings, Inc., and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
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The detailed segments and sub-segment of the Industry are explained below:
By Application
*Intelligent System
o Smart Cart
o Interactive Kiosk
o Intelligent Vending Machine
o AR/VR
*Robotics
*Visual marketing
*Smart Payment System
*Analytics
*Smart Label
*Others
By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
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Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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