Market Overview:
The global smart retail systems market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for convenience and efficiency in retail operations, rising adoption of digital technologies by retailers, and growing need for better customer experience. The hardware segment is expected to hold the largest share of the global smart retail systems market in 2018. This can be attributed to the increasing demand for technologically advanced point-of-sale (POS) terminals and kiosks, which are used for various purposes such as order taking, inventory management, customer check-in/check-out, and others. In terms of application, departmental stores are expected to hold the largest share of the global smart retail systems market in 2018.
Product Definition:
Smart Retail Systems are computerized systems that manage and control the retail operations of a business. They include inventory management, customer tracking, and point-of-sale systems. Smart Retail Systems are important because they allow businesses to track their sales and inventory levels in real time, making it easier to make strategic decisions about what products to stock and how much stock to carry.
Hardware:
Hardware is the part of technology which includes devices and components that are used to build a system or product. In retail industry, hardware includes cash drawers, till systems, self-checkout systems and other devices. Till Systems: Till System is an automated checkout system which helps in collecting payment from the customer at the point of sale where there is a till attached to it.
Software:
Software is the Collection of Interconnected Procedures, Systems, and Tools that aid in carrying out a specific task or goal. In Retail Industry Software is used to manage inventory effectively which helps retailers to increase their sales and profitability.
Software can be broadly segmented into two categories namely cloud-based software and on-premise software.
Application Insights:
The departmental stores segment accounted for the largest market share in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing consumer spending on luxury goods and apparel, which has created a need for sophisticated systems in this industry. Moreover, technological advancements such as sensor-based technologies that enable real-time tracking of inventory and customer behavior are further driving the demand for these systems in departmental stores across the globe.
The cinema complexes segment is expected to witness considerable growth over the forecast period owing to rising popularity of entertainment activities among consumers globally.
Regional Analysis:
North America dominated the global market in 2017. The growth of e-commerce and online retailing in the region is boosting the adoption of smart retail systems across various departments including electronics, apparel, and home furnishing. Furthermore, increasing investments by companies such as Amazon; Alibaba Group; Google LLC; and Walmart are paving way for advanced technologies to flourish in this region. For instance, Walmart has collaborated with IBM to implement its AI technology into its stores located in the U.S.
Asia Pacific is expected to emerge as a lucrative regional market over the forecast period owing to rising consumer spending on electronic devices such as smartphones.
Growth Factors:
- Increasing demand for convenience and efficiency in retail operations
- Proliferation of digital technologies and big data analytics
- Emergence of new retail formats and channels
- Growing demand for omni-channel retailing capabilities
- Rising customer expectations for personalized shopping experiences
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Retail Systems Market Research Report
By Type
Hardware, Software, Service
By Application
Departmental Stores, Cinema Complexes, Stadiums, Amusement Parks, Airports, Others
By Companies
Intel Corporation, Nordic Solutions, Larsen & Toubro Infotech, Wipro Technologies, NEC Corporation, Smart Retail Solutions, Techni-Connection, IEI Integration
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
243
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Smart Retail Systems Market Report Segments:
The global Smart Retail Systems market is segmented on the basis of:
Types
Hardware, Software, Service
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Departmental Stores, Cinema Complexes, Stadiums, Amusement Parks, Airports, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Intel Corporation
- Nordic Solutions
- Larsen & Toubro Infotech
- Wipro Technologies
- NEC Corporation
- Smart Retail Solutions
- Techni-Connection
- IEI Integration
Highlights of The Smart Retail Systems Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hardware
- Software
- Service
- By Application:
- Departmental Stores
- Cinema Complexes
- Stadiums
- Amusement Parks
- Airports
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Smart Retail Systems Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Smart Retail Systems is a term used to describe a variety of technologies that are designed to improve the efficiency and effectiveness of retail operations. These systems can include things like RFID tags, sensors, and computerized inventory management systems. They can help retailers track customer movements throughout the store, identify potential sales opportunities, and more.
Some of the major companies in the smart retail systems market are Intel Corporation, Nordic Solutions, Larsen & Toubro Infotech, Wipro Technologies, NEC Corporation, Smart Retail Solutions, Techni-Connection, IEI Integration.
The smart retail systems market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Smart Retail Systems Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Smart Retail Systems Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Smart Retail Systems Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Smart Retail Systems Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Smart Retail Systems Market Size & Forecast, 2018-2028
4.5.1 Smart Retail Systems Market Size and Y-o-Y Growth
4.5.2 Smart Retail Systems Market Absolute $ Opportunity
Chapter 5 Global Smart Retail Systems Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Smart Retail Systems Market Size Forecast by Type
5.2.1 Hardware
5.2.2 Software
5.2.3 Service
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Smart Retail Systems Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Smart Retail Systems Market Size Forecast by Applications
6.2.1 Departmental Stores
6.2.2 Cinema Complexes
6.2.3 Stadiums
6.2.4 Amusement Parks
6.2.5 Airports
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Smart Retail Systems Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Smart Retail Systems Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Smart Retail Systems Analysis and Forecast
9.1 Introduction
9.2 North America Smart Retail Systems Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Smart Retail Systems Market Size Forecast by Type
9.6.1 Hardware
9.6.2 Software
9.6.3 Service
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Smart Retail Systems Market Size Forecast by Applications
9.10.1 Departmental Stores
9.10.2 Cinema Complexes
9.10.3 Stadiums
9.10.4 Amusement Parks
9.10.5 Airports
9.10.6 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Smart Retail Systems Analysis and Forecast
10.1 Introduction
10.2 Europe Smart Retail Systems Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Smart Retail Systems Market Size Forecast by Type
10.6.1 Hardware
10.6.2 Software
10.6.3 Service
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Smart Retail Systems Market Size Forecast by Applications
10.10.1 Departmental Stores
10.10.2 Cinema Complexes
10.10.3 Stadiums
10.10.4 Amusement Parks
10.10.5 Airports
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Smart Retail Systems Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Smart Retail Systems Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Smart Retail Systems Market Size Forecast by Type
11.6.1 Hardware
11.6.2 Software
11.6.3 Service
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Smart Retail Systems Market Size Forecast by Applications
11.10.1 Departmental Stores
11.10.2 Cinema Complexes
11.10.3 Stadiums
11.10.4 Amusement Parks
11.10.5 Airports
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Smart Retail Systems Analysis and Forecast
12.1 Introduction
12.2 Latin America Smart Retail Systems Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Smart Retail Systems Market Size Forecast by Type
12.6.1 Hardware
12.6.2 Software
12.6.3 Service
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Smart Retail Systems Market Size Forecast by Applications
12.10.1 Departmental Stores
12.10.2 Cinema Complexes
12.10.3 Stadiums
12.10.4 Amusement Parks
12.10.5 Airports
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Smart Retail Systems Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Smart Retail Systems Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Smart Retail Systems Market Size Forecast by Type
13.6.1 Hardware
13.6.2 Software
13.6.3 Service
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Smart Retail Systems Market Size Forecast by Applications
13.10.1 Departmental Stores
13.10.2 Cinema Complexes
13.10.3 Stadiums
13.10.4 Amusement Parks
13.10.5 Airports
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Smart Retail Systems Market: Competitive Dashboard
14.2 Global Smart Retail Systems Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Intel Corporation
14.3.2 Nordic Solutions
14.3.3 Larsen & Toubro Infotech
14.3.4 Wipro Technologies
14.3.5 NEC Corporation
14.3.6 Smart Retail Solutions
14.3.7 Techni-Connection
14.3.8 IEI Integration
