The Worldwide Smart Retail Market is Projected to reach USD 201.6 Billion by 2030, at a CAGR of 27.8%

Smart Retail Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Smart Retail Market Market size is expected to reach $201.6 billion by 2030, rising at a market growth of 27.8% CAGR during the forecast period.

The Smart Payment System segment is showcasing a CAGR of 28.5% during (2023 - 2030). The measures used to encourage digital payments and the growing need to improve the customer experience are to blame for the increase. Additionally, the demand for POS solutions, e-payment systems, mobile payment applications, and other payment systems is being driven by a huge rise in cashless transactions. Over the projected period, the category is anticipated to rise significantly due to the noticeable increase in the use of mobile wallets.

The Hardware segment is leading the Global Smart Retail Market by Solution in 2022 thereby, achieving a market value of $99.9 billion by 2030. This segment's significant market share may be ascribed to the expanding retail industry's need for IoT installations for a variety of applications, the rise in smart shops, and merchants' increased investments in technology. The segment's development is being aided by the expanding use of augmented reality (AR), virtual reality (VR), point of sale (POS), Bluetooth beacons, and radio-frequency identification (RFID) technologies to provide consumers with a seamless in-store purchasing experience.

The North America market dominated the Global Smart Retail Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $70 billion by 2030. The Europe market is experiencing a CAGR of 27.3% during (2023 - 2030). Additionally, The Asia Pacific market would exhibit a CAGR of 28.7% during (2023 - 2030).

Full Report: https://www.kbvresearch.com/smart-retail-market/

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Amazon.com, Inc., Cisco Systems, Inc, Google LLC (Alphabet Inc.), Honeywell International, Inc., Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), IBM Corporation, NCR Corporation, NVIDIA Corporation, Intel Corporation, and NXP Semiconductors N.V.

Global Smart Retail Market Segmentation

By Application

• Visual Marketing
• Intelligent System
• Smart Payment System
• Smart Label
• Others

By Solution

• Hardware
• Software

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Companies Profiled

• Amazon.com, Inc.
• Cisco Systems, Inc
• Google LLC (Alphabet Inc.)
• Honeywell International, Inc.
• Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
• IBM Corporation
• NCR Corporation
• NVIDIA Corporation
• Intel Corporation
• NXP Semiconductors N.V.

Related Reports:

North America Smart Retail Market Size & Forecast to 2030

• June-2023
• 103 Pages

LAMEA Smart Retail Market Size, Share & Trends, 2023-2030

• June-2023
• 108 Pages

Europe Smart Retail Market Size & Share & Growth to 2030

• June-2023
• 107 Pages

Asia Pacific Smart Retail Market Size Report to 2023-2030

• June-2023
• 108 Pages