Global Smart Retail Market (2021-2026) – Including IBM, Intel, and Cisco – ResearchAndMarkets.com
DUBLIN – (COMMERCIAL THREAD)–The “Global Smart Retail Market (2021-2026) by System, Application, Retail Offering, Geography, Competitive Analysis and Impact of COVID-19 with Ansoff Analysis” report was added to ResearchAndMarkets.com offer.
The global smart retail market is estimated to be worth $ 24.02 billion in 2021 and is expected to reach $ 63.07 billion by 2026, growing at a CAGR of 21.3%.
Technological innovation changes the customer’s shopping experience, so that the distributor can focus on the particular needs of consumers and boost their business. To understand consumer behavior and needs, merchants conduct surveys. They also use smart retail solutions to attract, acquire and turn customers into sales, such as NFC (Near Field Communication). The use of this technology allows retailers to encourage and improve sales with a better branding image.
The major factors driving the growth of this market are the increasing use of robotics and automation to provide consumers with shopping convenience and the growing adoption by retailers of Big Analytics technologies. Data, machine learning, blockchain and AI.
Likewise, the main factor that may hamper the growth of the global smart retail industry is the data protection concerns associated with online transactions. In addition, an increasing number of physical retailers may, to some extent, restrain the growth of the market during the forecast period.
It is also predicted that the increasing participation of the Internet of Things (IoT) in various business avenues would create lucrative opportunities for players operating in the global smart retail industry.
Lack of compliance from IoT solution providers and integrators, and lack of knowledge and user awareness for smart retail, create challenges for smart retail market adoption.
The report includes Competitive Quadrant, a proprietary tool to analyze and assess the position of companies based on their Industry Position Score and Market Performance Score. The tool uses various factors to categorize players into four categories. Some of these factors considered for analysis are financial performance over the past 3 years, growth strategies, innovation score, new product launches, investments, market share growth, etc.
Why buy this report?
The report offers a comprehensive assessment of the global Smart Retail market.
The report includes in-depth qualitative analysis, verifiable data from authentic sources, and market size projections. Projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The main research is carried out through interviews, surveys and observations of well-known people in the industry.
The report includes in-depth market analysis using Porter’s 5 Force Model and Ansoff Matrix. The impact of COVID-19 on the market is also presented in the report.
The report also contains competitive analysis using Competitive Quadrant, the analyst’s proprietary competitive positioning tool.
Growing use of the Internet
Reduce the cost of electronic components
Growing adoption of smartphones around the world
The growing pursuit of better service
Data security issues in online transactions
Risks of data loss in the event of malfunction
Growing number of brick and mortar retailers
Growing tangle of Internet of Things (IoT)
Growing number of global smart stores drives increased adoption of self-service delivery vehicles
Lack of compliance of suppliers and integrators of IoT solutions
Lack of user knowledge and awareness
Huawei Investment & Holding Co., Ltd.
By Technology Corporation
Texas Instruments Inc.
Honeywell International Inc.
Robert Bosch GmbH
Softbank Robotics Group Corp.
First data company
E Ink Holdings Inc.
Bossa Nova Robotics
Robotics of the five elements
For more information on this report, visit https://www.researchandmarkets.com/r/6p2lzs