DUBLIN--(BUSINESS WIRE)--The "Smart Retail Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The latest market report on smart retail, analyzing the industry's projected expansion and emerging technological trends, has been made available. The comprehensive research provides insightful data and analysis, pinpointing significant growth opportunities and key market drivers set to transform the smart retail landscape by 2024.
In the face of an ever-evolving digital commerce environment, the smart retail sector is forecasted to reach a market value of $55.44 billion by the year 2024, boasting a remarkable CAGR of 25.7%. This growth trajectory underscores the industry's response to shifting consumer demands and the integrative use of advanced data analytics, alongside widespread mobile connectivity—a fusion fostering the retail revolution.
Experts within the field have identified transformative trends that are catalyzing the market, including the advent of AR and VR technology, the proliferation of IoT applications, tailored retail experiences, and blockchain's influence on supply chain transparency. The progressive nature of multi-channel retailing continues to diversify consumer interactions and retail services, further fuelling market expansion.
Robotics and AI Propel Smart Retail Innovations
Significant market growth is anticipated due to the increasing adoption of AI and the integration of robots and automation within retail operations. These technologies are fine-tuning inventory management and augmenting customer service, contributing to a more streamlined and personalized shopping journey.
Strategic Technological Advancements by Industry Players
Notable companies within the smart retail market are spearheading the development of cutting-edge technological solutions. Interdisciplinary initiatives merging tech and customer-centric designs are rolling out across the industry, promising a seamless, enhanced retail experience.
Recent industry moves include the adoption of Just Walk Out technology by Amazon Inc., offering consumers an effortless checkout alternative, and the launch of innovative retail solutions by industry leaders aimed at elevating service capabilities across multiple platforms, from digital to in-store.
Strategic acquisitions continue to play a pivotal role in fortifying omnichannel experiences, as evidenced by Instacart's 2021 acquisition of Caper AI to better integrate digital and physical shopping solutions for retailers.
As the smart retail sector increasingly leans into AI, automation, and personalized shopping experiences, it presents a wealth of potential for stakeholders and businesses looking to capitalize on the digital transformation wave sweeping through global commerce.
North America remains the dominant force within the smart retail market, with Asia-Pacific regions soon following suit, posited to become the fastest growing during the forecast period. The comprehensive report covers these and other diverse regions, providing a global outlook on the exponential smart retail market growth.
Major players highlighted in the smart retail market include industry giants such as Honeywell International Inc., LG Display Co. Ltd., and Intel Corporation, among others, working collectively to drive innovation and shape the future of retail.
A selection of companies mentioned in this report includes
- Honeywell International Inc.
- Huawei Technologies Co. Ltd.
- LG Display Co. Ltd.
- Intel Corporation
- Samsung Electronics Co. Ltd.
- Verifone Inc.
- International Business Machines Corporation (IBM)
- Cisco Systems Inc.
- Ingenico Group S. A.
- Amazon. com Inc.
- NCR Corporation
- PAX Global Technology Limited
- Fiserv Inc.
- Google LLC
- AWM Smart Shelf
- Bossa Nova Robotics Inc.
- Robert Bosch GmbH
- Microsoft Corporation
- NVIDIA Corporation
- NXP Semiconductors NV
- Trigo Vision Ltd.
- PTC Inc.
- Prismview LLC
- NEC Display Solutions Ltd.
- Elo Touch Solutions Inc.
- E Ink Holdings Inc.
- Diebold Nixdorf Inc.
- ComQi Inc.
- Bluebird Inc.
- Advantech Co. Ltd.
- 3M Company
For more information about this report visit https://www.researchandmarkets.com/r/iw2p9s
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
