Quadintel published a recovery-based report for Global “Smart Retail Devices Market” that provides crucial details on company opportunities, growth plans, trends, innovations, the competitive landscape in 2022, and the geographic outlook. Based on relevant market and regional segmentation, a thorough assessment of this worldwide market includes the historical analysis of this market (from 2023 to 2030) and develops reliable and approximative timeline estimations up to 2030.
Global Smart Retail Devices Market is valued approximately at USD 17.43 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 17.2% over the forecast period 2020-2027.
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Smart Retail Devices are used in making e-commerce business smarter by using Internet-of-Things (IoT). Smart devices enable the producers or retail owners to manage inventory conveniently by tracking goods at the production level and deliver them at the customers doors. Also, it includes advanced logistics which prevents stock theft and protect the goods and related information by storing information in the cloud. Smart devices enhance the consumer engagement by providing connected retail services and better shopping experience. Growing investment in robotics and connectivity in retail industry, rising adoption of artificial intelligence & IoT in retail industry has led the adoption of Smart Retail Devices across the forecast period. For Instance: according to the whitehouse.gov, in 2019, U.S. President Donald J. Trump launched the American AI Initiative to promote leadership in artificial intelligence as the nations strategy for future economy security. As per the company source, in 2018, H&M, a fashion brand launched Interactive Voice Mirror at their retail store in Manhattan, also called a smart mirror which attracts customers to provide them with personalized matching clothes & other accessories. However, high manufacturing costs, increased maintenance costs of advanced high-end computing systems and lack of privacy laws in less developed countries, impedes the growth of the market over the forecast period of 2020-2027. Also, Opportunity with the rising demand for artificial intelligence by the customers due to the convenience & feasibility it provides, the supportive government initiatives have been provided to the manufacturers, hence the adoption & demand for Smart Retail Devices is likely to increase.
The regional analysis of global Smart Retail Devices Market 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/significant region across the world in terms of market share owing to the huge presence of smart retail solution providers and adoption of IoT & artificial intelligence in their daily lifestyles. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income, rising urban population is making people to move towards automation-based solution and services and the continuous infrastructure development would create lucrative growth prospects for the Smart Retail Devices Market across Asia-Pacific region.
Major market player included in this report are:
International Business Machines
Intel
Cisco
NXP semiconductors
Microsoft
NVIDIA corporation
Samsung Electronics
Texas Instrument
Softbank Robotics
PAX global technology
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The objective of the study is to define market 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 market. 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 detailed segments and sub-segment of the market are explained below:
By Technology:
Digital Signage
Smart Labels
Smart Payments
Others
By Application:
Smart Transportation
Predictive Equipment Maintenance
Inventory Management
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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Report Include:
- Market Behavior/ Level of Risk and Opportunity
- End Industry Behavior/ Opportunity Assessment
- Expected Industry Recovery Timeline
Key Market Features in Global Market: The report assessed key market features, including revenue, capacity, price, capacity utilization rate, production rate, gross, production, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. The study also offers a thorough analysis of the most important market factors and their most recent developments, as well as pertinent market segments and sub-segments.
In this report, the following important queries are addressed:
- What is the Global market’s sales value, production value, consumption value, import, and export (including North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
- Who are the major manufacturers in this sector on a global scale? How are their capacity, production, sales, pricing, cost, gross, and revenue operating?
- What are the vendors’ market prospects and risks in the international industry?
- Which product types, end users, or applications might be looking for additional growth prospects? What is each types and application’s market share?
- What specific strategies and limitations are keeping the market in check?
- What is the various marketing, sales, and distribution channels in the international market?
- What are the upstream raw materials, as well as the manufacturing machinery?
- What are the market opportunities, market risk, and market overview of this industry?
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