The global smart retail devices market size was US$ 25.58 billion in 2021. The global smart retail devices market is forecast to grow to US$ 81.68 billion by 2030 by growing at a compound annual growth rate (CAGR) of 15.2% during the forecast period from 2022 to 2030.
Request To Download Sample of This Strategic Report :-https://reportocean.com/industry-verticals/sample-request?report_id=Pol636
Factors Influencing the Market
Smart devices and IoT in retail are forecast to change the outlook of the entire industry by offering an enhanced customer experience. In addition, the benefits of smart retail devices, such as efficient energy management, theft prevention, in-store navigation, will contribute to the growth of the market.
The growing prominence of the latest technologies, such as cloud, mobile, RFID, beacons, etc., will surge the growth of the market during the study period. In addition, rising urbanization and growing adoption of online delivery services will surge the growth of the market.
The global smart retail devices market is forecast to gain traction due to the growing penetration of smart devices. In addition, the convenience offered by smart retail devices will propel the market forward.
On the contrary, the high cost of maintenance may limit the growth of the market.
The growing number of technological advancements will contribute to the growth of the smart retail devices market.
COVID-19 Impact Analysis
Due to the wake of the pandemic, retail stores witnessed significant challenges in continuing their operations. In addition, the demand for some products declined drastically, which hampered various segments of the retail industry. However, the growing popularity of IoT and other devices helped the industry grow even during the pandemic. It allowed consumers to log in and place their orders online. Thus, it has been beneficial for the smart retail devices market. In addition, the halt on manufacturing and research activities drastically declined the growth of the industry.
Request To Download Sample of This Strategic Report :-https://reportocean.com/industry-verticals/sample-request?report_id=Pol636
Regional Analysis
The Asia-Pacific smart retail devices market is forecast to grow at the fastest growth rate due to the participation of emerging economies, such as India and China. The urbanization in these countries is growing steeply. In addition, growing advancements and penetration of advanced technologies will contribute to the growth of the smart retail devices market. In addition, the presence of prominent retail giants will escalate the growth of the smart retail devices market. Favorable initiatives by government bodies will offer ample growth opportunities for market growth. For instance, the ministry of China introduced a three-year plan in December which aims to surge the use of AI in various industries.
Competitors in the Market
- IBM
- Intel
- Cisco
- NXP Semiconductors
- Microsoft
- NVIDIA Corporation
- Samsung Electronics
- Texas Instrument
- Softbank Robotics
- PAX global technology
- Other Prominent Players
Market Segmentation
The global smart retail devices market segmentation focuses on Technology, Application, and Region.
By Technology Outlook
- Digital Signage
- Smart Labels
- Smart Payments
- Smart Cards
- Electronic Shelf Labels
- Others (Intelligent Vending Machines, POS)
By Application Outlook
- Smart Transportation
- Predictive Equipment Maintenance
- Inventory Management
- Smart Fitting Rooms
- Foot Traffic Monitoring
- Others
Get a Sample PDF copy of the report :-https://reportocean.com/industry-verticals/sample-request?report_id=Pol636
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
What are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.
Full Report Description, TOC, Table of Figure, Chart, etc.-https://reportocean.com/industry-verticals/sample-request?report_id=Pol636
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is a ‘one-stop solution’ for individuals, organizations, and industries that are looking for innovative market research reports.
Get in Touch with Us:
Report Ocean:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 – UNITED STATES Tel: +1 888 212 3539 (US – TOLL FREE)
Website:https://www.reportocean.com/