Outlook on the Smart Retail Devices Global Market to 2027 – by Technology and Application – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Smart Retail Devices Market by Technology and Application: Global Opportunity Analysis and Industry Forecast, 2020-2027” report has been added to ResearchAndMarkets.com’s offering.

The global smart retail devices market was valued at $17.43 billion in 2019, and is projected to reach $74.68 billion by 2027, registering a CAGR of 17.2% from 2020 to 2027.

Retail stores are focusing on using the emerging technologies such as cloud, mobile, RFID, beacons, and others, to provide connected retail services and better shopping experience to customers. For instance, store owners are integrating sensors in the key zones of retail stores and connecting them to cloud through a gateway that enables real-time data analysis related to products, sales, and customers from the sensors.

The growing incorporation of technologies such as augmented reality, virtual reality, artificial intelligence, and IoT, to improve store operations, facilitate accurate inventory management, and enhance consumer’s shopping experience is one of the key trends escalating market growth.

The scope of the report discusses the potential opportunities for the market players to enter the global smart retail devices market. This report also provides in-depth analysis of the market, outlining current trends, key driving factors, and key areas of investment. It includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder in the value chain. The report features the strategies adopted by the Key market Players to maintain their foothold in the market.

Factors such as increase in use of robotics and automation in the retail industry, a rise in the adoption of big data analytics & IoT in retail industry and surge in purchasing power of consumers and economic growth are the major drivers significantly affecting the market growth. However, increased maintenance costs of advanced high-end computing systems and high risks of customer data thefts have a significant negative impact on the market growth. Furthermore, technological advancements with real-time data analysis and increase in number of smart stores are expected to offer lucrative opportunities to the market growth globally.

The global smart retail devices market share is segmented on the basis of technology, application, and region. Based on technology, the market is analyzed across digital signage, smart labels, smart payments, smart carts, electronic shelf labels, and others. By application, market is classified into smart transportation, predictive equipment maintenance, inventory management, smart fitting room, foot traffic monitoring, and others. Region-wise, the market has been analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key smart retail devices market analysis profiled in the report include IBM, Intel, Cisco, NXP semiconductors, Microsoft, NVIDIA corporation, Samsung Electronics, Texas Instrument, Softbank Robotics and PAX global technology. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance their market penetration.

Key Benefits for Stakeholders

• This study includes the analytical depiction of the global smart retail devices market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information regarding the key drivers, restraints, and opportunities in the global smart retail devices market.
• The global smart retail devices market trends are quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
• Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Market Dynamics

Drivers

• Increasing use of robotics and automation in retail industry
• Rising adoption of big data analytics & IoT in retail industry
• Surge in purchasing power of consumers and economic growth

Restraints

• Increased maintenance cost of high-end devices
• Risk towards consumer data thefts

Opportunity

• Technological advancement with real-time data analytics
• Increasing number of smart stores

Key Market Players

• IBM
• Intel
• Cisco
• NXP semiconductors
• Microsoft
• NVIDIA corporation
• Samsung Electronics
• Texas Instrument
• Softbank Robotics
• PAX global technology

For more information about this report visit https://www.researchandmarkets.com/r/jju25j

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