Smart Retail Market by Solution (Hardware, Software), by Technology (RFID, NFC, Machine Learning, ZigBee, Wi-Fi, Others), by Application (Smart Label, Foot- Traffic Monitoring, Virtual Mannequin), by Region (Asia-Pacific, North America, Europe, Middle East & Africa) – Global Forecast 2019 to 2024

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Smart Retail Market: Summary

The global smart retail market is estimated to reach USD 45.1 Billion in 2024 at a CAGR of 23.7%. Growing adoption of smart devices and growing inclination of consumers towards personalization is expected to drive the smart retail market during the forecast period. However, security and privacy issues associated to IoT devices are expected to restrain the market during the forecast period. Predictive commerce is expected to become an opportunity for smart retail market.

Retail is selling of goods in small quantities to the consumers for their individual end use. Smart retail is putting various technological solutions together to give customer quicker, secure, and intelligent experience. Some key players in smart retail market are Intel Corporation, IBM Corporation, Google Inc., NXP Semiconductors NV, and Microsoft Corporation, among others.     

Smart Retail Market


Smart Retail Market: Report Synopsis

This market research report offers a comprehensive analysis of key market trends in the global smart retail market. It includes detailed discussion on historical market trends, current market dynamics, consumer landscape, growth opportunities and challenges backed by factful feedbacks. On the basis of solution, the market is segmented into hardware, and software. By technology, the market is segmented into radio frequency identification (RFID), near-field communication (NFC), machine learning, Bluetooth smart, wireless fidelity (Wi-Fi), ZigBee, and others. By application, the market is segmented into automated check-out points, smart label, virtual mannequins, smart fitting room, foot-traffic monitoring, and others. The regional analysis is covered under five major regions such as North America, South America, Europe, Asia-Pacific, and the Middle East and Africa, with individual country-level analysis.

Smart Retail Market: Report Scope

The report on the market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.


Report Features


Historical/Estimated/Forecasted Market Size Years


Base Year for Market Calculation


Forecasted Period

2019-2024 (2019 estimated year, forecasted up to 2024)

Measured Units

Value (USD Million)

Segments Included

Solution, Technology, Application

Regional Coverage

Asia-Pacific, North America, Europe, Middle East & Africa, South America

Companies Covered

  • Intel Corporation (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • IBM Corporation
  • Google Inc.
  • NXP Semiconductors NV
  • Microsoft Corporation
  • NVIDIA Corporation
  • Samsung
  • NCR Corporation
  • Cisco Systems, Inc.
  • com, Inc.
  • Other Key Companies

Smart Retail Market: Report Segmentation

For the scope of report, In-depth segmentation is offered by Forencis Research

Smart Retail Market by Component

  • Hardware
  • Software

Smart Retail Market by Technology

  • Radio Frequency Identification (RFID)
  • Near-Field Communication (NFC)
  • Machine Learning
  • Bluetooth Smart
  • Wireless Fidelity (Wi-Fi)
  • ZigBee
  • Others

Smart Retail Market by Application

  • Automated Check-Out Points
  • Smart Label
  • Virtual Mannequins
  • Smart Fitting Room
  • Foot-Traffic Monitoring
  • Others


Smart Retail Market by Region

  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Italy
    • UK
    • The Netherlands
    • Rest of Europe
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East and Africa
  • South America
    • Brazil
    • Argentina
    • Rest of South America

Key Questions answered by the report

  • What are the major developments impacting the Smart Retail Market and its growth?
  • What will be the effects of the developments in the Smart Retail Market on the industry and on the market players in the near and far future?
  • What are the evolving types of the Smart Retail Market?
  • What are the evolving applications of global market?
  • What are the major characteristics that will affect the global market growth during the study period?
  • Who are the key players operating in the global market?
  • How are the major players leveraging in the existing market conditions?

Report Audience

  • Smart Retail Market Providers
  • Smart Retail Market Solution and Services Suppliers, Distributors and Dealers
  • End-Users of Varied Segments of Smart Retail Market
  • Government Bodies and Intellectual Institutions
  • Associations and Industrial Organizations
  • Research & Consulting Service Providers
  • Research & Development Organizations 
  • Investment Banks & Private Equity Firms



1.1       Research Objectives

1.2       Market Definition

1.3       Research Scope

1.4       Regional Coverage

1.5       Research Timeline

1.6       Assumptions

1.7       Limitations


2.1       Introduction

2.2       Primary Research

                                  2.2.1    Key Industry Expert Insight

2.3       Secondary Research

                                  2.3.1    Vital Data from Secondary Sources

2.4       Market Size Estimation

2.5       Data Validation & Triangulation



4.1       Introduction

4.2       Drivers

                                  4.2.1    Growing Adoption of Smart Devices

                                  4.2.2    Growing Inclination of Consumers towards Personalization

4.3       Restraints

                                  4.3.1    Security and Privacy Issues

4.4       Opportunities

                                 4.4.1.    Predictive Commerce

                                 4.4.2.    Emerging IoT Technologies

                                 4.4.3.    Omnichannel Retailing

4.5       Challenges

                                 4.5.1.    Lack of Infrastructure


5.1       Introduction

                                 5.1.1.    Power of Buyers

                                 5.1.2.    Power of Suppliers

                                 5.1.3.    Intensity of Competition

                                 5.1.4.    Challenges of Substitutes

                                 5.1.5.    Challenges of New Entrants

5.2       Macro-Economic Indicators

6      GLOBAL SMART RETAIL MARKET BY SOLUTION, Market Size in USD Million (2017—2024)

6.1       Introduction

6.2       Hardware

6.3       Software

7      GLOBAL SMART RETAIL MARKET BY TECHNOLOGY, Market Size in USD Million (2017—2024)

7.1       Introduction

7.2       Radio Frequency Identification (RFID)

7.3       Near-Field Communication (NFC)

7.4       Machine Learning

7.5       Bluetooth Smart

7.6       Wireless Fidelity (Wi-Fi)

7.7       ZigBee

7.8       Others

8      GLOBAL SMART RETAIL MARKET BY APPLICATION, Market Size in USD Million (2017—2024)

8.1       Introduction

8.2       Automated Check-Out Points

8.3       Smart Label

8.4       Virtual Mannequins

8.5       Smart Fitting Room

8.6       Foot-Traffic Monitoring

8.7       Others

9      GLOBAL SMART RETAIL MARKET BY REGION, Market Size in USD Million (2017—2024)

9.1       North America

                                  9.1.1    US

                                  9.1.2    Canada

                                  9.1.3    Mexico

9.2       Europe

                                  9.2.1    Germany

                                  9.2.2    France

                                  9.2.3    Italy

                                  9.2.4    UK

                                  9.2.5    The Netherlands

                                  9.2.6    Rest of Europe

9.3       Asia-Pacific

                                  9.3.1    China

                                  9.3.2    India

                                  9.3.3    Japan

                                  9.3.4    South Korea

                                  9.3.5    Australia

                                  9.3.6    Rest of Asia-Pacific

9.4       Middle East & Africa

                                  9.4.1    Saudi Arabia

                                  9.4.2    UAE

                                  9.4.3    Rest of Middle East & Africa

9.5       South America

                                  9.5.1    Brazil

                                  9.5.2    Argentina

                                  9.5.3    Rest of South America


10.1     Introduction

10.2     Market Ranking/Share Analysis of Key Companies

10.3     Company Benchmarking


11.1     Intel Corporation

                                11.1.1    Company Overview

                                11.1.2    Financial Overview

                                11.1.3    Products/Solutions/Services Offered

                                11.1.4    Key Developments

                                11.1.5    SWOT Analysis

11.2     IBM Corporation

11.3     Google Inc.

11.4     NXP Semiconductors NV

11.5     Microsoft Corporation

11.6     NVIDIA Corporation

11.7     Samsung

11.8     NCR Corporation

11.9     Cisco Systems, Inc.

11.10, Inc.

11.11  Other Key Companies


12.1     Key Industry Expert Insights

12.2     Primary Discussion Guide

12.3     Customization Options

Note1: Tentative table of contents, may get updated during the course of research.

Note2: Company financial information is subject to availability in public domain




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Research Design

Forencis Research follows robust and deep dive research methodologies to deliver accurate – current, estimated and forecasted market data. Our extensive primary and secondary research help in deriving reliable qualitative and quantitative data to provide verified market insights. Our research team tracks historic trends, existing and recent market dynamics, growth prospects, competitor landscape, and the entire value chain dynamics to attain reliable industry facts to reach accurate market estimates. Primary research is conducted through thorough interviews and detailed surveys with the Key Industry Experts and related participants across the value chain. Secondary research entails acquiring data through paid and reliable databases such as annual reports, SEC filings, research publications, association publications, investor presentations, white papers and other sources. All the above-obtained information is further processed and collated with our existing database prior to its presentation in our publications.

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Key Questions Answered by the Report

  • Major factors impacting the market and its growth
  • Evolving Types of the various products in the Market
  • Evolving Application of the various products in the Market
  • Growing countries in the Global Market
  • Effects of the developments in the market on the industry and on the market players
  • Key market developments undertaken by the leading players

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