You are here
Global Smart Retail Market – by Application, Technology, Region - Market Size, Demand Forecasts, Company Profiles, Industry Trends and Updates (2018 - 2025)
Smart Retail Market – Segmented by Application, Technology, Region | Market Size, Growth, Drivers, Trends, Industry Structure and Forecasts | MarkGenes
Smart Retail refer to the use of smart technologies in the retail segment to provide faster, safer, bigger, and smarter ways of marketing. This market is intended to provide increased revenues for retailers with increasing product sales. Smart retailing also helps in improving the customer service with the use of advanced technologies
The global smart retail was USD 10.94 billion in 2018 and is estimated to reach USD 43.34 billion by 2025 at a CAGR of 21.73% during the forecast period
Growth by Region
Europe plays a vital role in the growth of the market and is expected to control the global smart retail market. European nations are technology friendly and the major countries that will contribute to the market are Germany, the U.K, France, Spain and Italy. North America too adopts new technology and is the main region of the smart retail market during the forecast period. Countries like India, China are also a great market for the global smart retail market.
Drivers vs Constraints
The rise in the new technologies and an increase in the demand for better retail service will lead to the growth of the market. Robotics, a part of the smart retail market results in smooth shopping experience with easy ways to find products. This technology uses voice recognition, automatic navigation, auditing software and inventory scanning making the retailers work much easier. The restriction of smart retail is the data security of the customers and the retailer and their privacy. As technology advances the breach of security increases.
Industry Trends and Updates
In Nov 2018, Intel announced its Responsive Retail Platform with USD 100 Mn investment aimed at revolutionizing the In-Store experience.
Browse other Information & Communication Technology reports at: https://markgenes.com/industry-reports/information-and-communication-technology
MarkGenes Business Consulting
2nd Floor, Aditya Enclave,
Hyderabad - 500033
MarkGenes is a Market Intelligence and Business Consulting firm with Market Research as its core combining unparalleled experience, comprehensive capabilities across all industries and business functions while putting together the teams with strong functional knowledge and technical expertise.
Syndicate Research Reports
Our syndicated market research reports provide detailed coverage and market intelligence on categories of various industries. These reports are focused for broader industry audience for market traction. Latest happenings are tracked by our category specialists and are updated / modified every year, these updates are sent to the purchased client on a quarterly basis till one year of purchase.
Customized Research Reports
Our customized market research reports are a requirement from a specific client which focus on a specific agenda. Our industry contacts with experts, coupled with internal category specialists ensure that the requirement is fulfilled. Our quick turnaround time means the client will have enough buffer time to take understand and take necessary actions.