The smart retail market is projected to reach USD 38.51 billion by 2023 from USD 13.07 billion in 2018, at a CAGR of 24.12% during the forecast period.
Growth in this market is mainly driven by factors such as increasing adoption of smartphones, growing need for better customer service and shopping experience, decreasing cost of electronic components, and emerging new technologies creating new revenues for retailers. The major restraint for the market is data security and privacy concern with advanced technologies.
Study Objectives:
1 To describe and forecast the smart retail market, in terms of value and volume, by application
2 To describe and forecast the market, in terms of value, by region - North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
3 To provide detailed information regarding major factors governing market growth (drivers, restraints, opportunities, and challenges)
4 To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
5 To strategically profile key players and comprehensively analyze their market ranking and core competencies, along with detailing competitive landscape for market leaders
To analyze strategic approaches such as joint ventures, collaborations, agreements, contracts, partnerships, mergers and acquisitions, product launches and developments, and research and developments (R&D) in the smart retail market
This report provides valuable insights of the smart retail market ecosystem.
Major players in this market include (Business Overview, Products/Services/ Solutions Offered, Recent Developments, SWOT Analysis, and MnM View)*
Intel (US),
IBM (US),
NVIDIA (US),
Samsung Electronics (South Korea),
Microsoft (US),
Google (US),
PTC (US),
Amazon (US),
Cisco System, (US),
NXP Semiconductors (Netherlands),
Par Technology Corporation (US),
SoftBank Robotics Holdings Corp. (Japan),
Ingenico Group (France),
Verifone Holdings, Inc. (US),
First Data Corporation (US),
NCR Corporation (US),
and, EVRY ASA (Norway).
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Product Launches
March 2018
Verifone
Verifone launched Carbon Mobile 5, a commerce solution that brings mobility, payment, and commerce into one powerful, portable device. Carbon Mobile 5 enables checkout and the ability to run Android apps, such as point-of-sale, loyalty, and inventory management.
March 2018
NCR Corporation
NCR Corporation launched NCR WinEPTS payment solution developed specifically for retailers and restaurants in Europe. The product can be integrated with instant payments solutions of European banks.
Agreements, Partnerships, Collaborations, & Contracts
March 2018
Verifone
Verifone entered into a partnership with Ezetap (India), a software and payment-processing player to meet the needs of India's rapidly evolving and growing payments technology landscape. This partnership enables merchants to quickly and easily adopt both instore and online payments.
February 2018
Par Technology
Par Technology Corporation (US) entered into a partnership with Workpop (US). The technology partnership will now enable PAR’s cloud-based Brink POS Software to seamlessly connect with Workpop’s Applicant Hiring System. Shared customers will benefit from a seamless integration designed to help restaurants and retail businesses maintain up-to-date employee data via Brink software.
Acquisitions
April 2018
EVRY
EVRY acquired Findwise AB, a leading Nordic provider of advanced search, advanced analytics and big data services. EVRY and Findwise will jointly expand their capabilities to support their customers in unlocking new intelligence and insight as they seek faster and more precise decision-making. This deal helps them to accelerate its development of new industry-specific solutions, such as APIs for financial services, the public sector, healthcare sector, retail and logistics, and the automotive industry.
December 2017
Ingenico
Ingenico acquired Airlink (Taiwan), one of the leading value-added resellers. The acquisition has helped Ingenico expand its footprint in Asia.
Expansion
December 2017
Amazon
Amazon Web Services launched AWS in Paris to serve customers in the European Union. The advantage of the Paris Region is that it makes it easier for tech companies in France to comply with its data privacy regulations. The Paris Region also enables AWS customers to store user data in France with the reassurance that it will not be moved unless they do so.
August 2017
Par Technology
Par Technology Corporation (US) announced the expansion of EverServ 8000 portfolio. The new peripherals and accessories include 2x20 customer display, POP display, barcode scanner, and pole mounted payment device.
Scope of the Report:
The research report segments the smart retail market into the following subsegments:
Smart Retail Market, by Application
Visual Marketing
Smart Label
Smart Payment System
Intelligent System
Robotics
Analytics
Smart Retail Market, by Region
North America
Europe
APAC
RoW
Research Methodology:
This research study incorporates the use of secondary sources, directories, and databases, such as D & B Hoovers, Bloomberg Businessweek, Factiva, and OneSource, to identify and collect information useful for the extensive technical, market-oriented, and commercial study of the smart retail market. Primary sources mainly comprise several experts from core and related industries, along with preferred suppliers, manufacturers, distributors, service providers, technology developers, alliances, and standards and certification organizations related to various parts of this industry’s value chain. In-depth interviews with various primary respondents, including key industry participants, subject matter experts (SMEs), C-level executives of key companies, and consultants have been conducted to obtain and verify critical qualitative and quantitative information, as well as assess prospects.
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