SMART RETAIL MARKET TO REACH USD 45.1 BILLION BY 2024 | CAGR 23.7% – FORENCIS RESEARCH

Smart Retail Market Size, Share, Trends, Growth, Analysis, Research

Global Smart Retail Market: Key Highlights

  • According to the new market research report Smart Retail Market by Solution (Hardware, Software), by Technology (Radio Frequency Identification (RFID),Near-Field Communication (NFC), Machine Learning,  Bluetooth Smar, Wireless Fidelity (Wi-Fi) ,ZigBee and Others), by Application (Smart Label, Foot- Traffic Monitoring, Virtual Mannequin, Smart Fitting Room, Foot-Traffic Monitoring and Others), by Region (Asia-Pacific, North America, Europe, Middle East & Africa) – Global Forecast 2019 to 2024”, the global Smart Retail Market is estimated to reach USD 45.1 Billion by 2024 at a CAGR of around 23.7% during the review period.
  • Growing adoption of smart devices by using the smart technology features by connecting through smartphone to the shops which can give sudden customer explore to the product and service can help to grow market.
  • However, security and privacy issues remain a major restraining factor for the growth of the smart retail market

Smart Retail Market

Global Smart Retail Market: Key Market Dynamics

  • Growing inclination of consumers towards personalization support more to mobile shopping and e-commerce in a smart way, with the market strategy may lead to surge the market growth.
  • Predictive commerce with the help of analytics and data can increase the adoption smart business growth.
  • Emerging IoT technologies improve the advance digital tools to process and its application for company to know the review of the user which can support the market to grow in the forecast period.
  • Lack of Infrastructure and back end to resource for the adoption of new technologies can lead to hamper the growth of the market.

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Global Smart Retail Market: Regional Overview

  • Asia-Pacific:

Make in India support the new technologies adoption and smart cities project for growth and develop the economy. According to the national investment promotion and facilitation agency, India is the third largest national trading partner with Africa and in 2017 India has accounted for 6.4% of total African trade which was rise by 2.1% in 2001. The Japan government had also increase its investment in science and technologies may lead to increase the market in the forecast year.

  • Europe

The region is encourage private as well as the public sector to adopt the smart technologies in healthcare care industries. The region is adoption the digital platform a higher pace which improve the rapid change in the life of European. Also the countries are showing initiative in e-government which will help to enhance the government at the national level. According to United Nation, Department of Economic and Social Affairs by 2050 the European population in expected to rise by 80%. Also, by 2020 in European Commission is projected that 72% electricity consumer will be smart meters. Hence, the factors can advance to increase the market adoption in the forecast period.

Global Smart Retail Market: Key Players Overview

  • Microsoft Corporation:

Microsoft is a leading multinational company which provides personal computer software system, and application. The company offers innovative solution with artificial intelligence to enhance the customer services and supply chain operation in retail sector. In 2019, the company announced new capabilities for a seamless, IoT and smart solution to help the customer to drive best business outcome.

  • SAMSUNG:

SAMSUNG is a multinational company that helps to discover electronic with technology which includes tablets, TV, home appliance and smartphone. The company offers solution for large enterprise as well as small enterprise to know the customer experience and to reinvest retail. The company provides easy and safe mobile payment services to boost the business and help to generate rewards. In 2019 the company launched a solution for retail and restaurateurs a Digital Window Display OMN-D series which come with dual display features. 

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Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of market research reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets.

Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. We strive to help our clients to foray into uncharted space to attain increased revenue growth for the present as well as the future.

 

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Rep Id : SC 029

Published : 2020-01-14