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DATE
JAN 2023
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PAGES
476
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HIGHLIGHTS & REPORT INDEX
What`s New for 2023?
» Special coverage on Russia-Ukraine war; global inflation; easing of "zero-Covid" policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
» Global competitiveness and key competitor percentage market shares
» Market presence across multiple geographies - Strong/Active/Niche/Trivial
» Online interactive peer-to-peer collaborative bespoke updates
» Access to our digital archives and MarketGlass Research Platform
» Complimentary updates for one year
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China’s already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
Global Smart Retail Market to Reach $69.8 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Smart Retail estimated at US$17.7 Billion in the year 2020, is projected to reach a revised size of US$69.8 Billion by 2027, growing at aCAGR of 21.7% over the period 2020-2027. Hardware, one of the segments analyzed in the report, is projected to record 19.9% CAGR and reach US$40.9 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Software segment is readjusted to a revised 24.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $4.2 Billion, While China is Forecast to Grow at 23.5% CAGR
The Smart Retail market in the U.S. is estimated at US$4.2 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$10.3 Billion by the year 2027 trailing a CAGR of 23.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.4% and 22.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 20.6% CAGR.
SELECT PLAYERS
Amazon.com, Inc.; Cisco Systems, Inc.; Google LLC; Honeywell International Inc.; IBM; Intel Corporation; Microsoft Corporation; NVIDIA Corporation; NXP Semiconductors N.V.; PAX Global Technology Limited; PTC, Inc.; Samsung Electronics Co., Ltd.; SoftBank Robotics Holdings Corp.; Texas Instruments, Inc.
SEGMENTS
» Component (Hardware, Software) » Application (Visual Marketing, Intelligent System, Smart Payment System, Smart Label, Other Applications)
GEOGRAPHIES
» World » USA » Canada » Japan » China » Europe » France » Germany » Italy » UK » Rest of Europe » Asia-Pacific » Rest of World
TABLE OF CONTENTS
I. METHODOLOGY |
II. EXECUTIVE SUMMARY |
1. MARKET OVERVIEW |
Influencer Market Insights |
World Market Trajectories |
An Introduction to Smart Retail |
Smart Retail: Current Market Scenario and Outlook |
Smart Payment Technologies Bode Significant Potential for Smart Retail Model |
AI-Enabled Intelligent Systems Make Their Way Into Smart Retail Domain |
Smart Labels Gain Traction in the Retail Sector |
Visual Marketing: A Viable Tool for Smart Retailing |
Robotics & Analytics Seek Role in Smart Retail Ecosystem |
While Developed Regions Remain Major Revenue Contributors, Developing Regions Exhibit Fast Paced Growth |
EXHIBIT: World Smart Retail Market (2019 & 2025): Percentage Breakdown of Revenues for Developed and Developing Regions |
EXHIBIT: World Smart Retail Market - Geographic Regions Ranked by CAGR (Revenues) for 2018-2025: USA, China, Canada, Europe, Asia-Pacific, Japan, and Rest of World |
COMPETITIVE LANDSCAPE |
Leading Players in the Smart Retail Market |
RECENT MARKET ACTIVITY |
Smart Retail – Global Key Competitors Percentage Market Share in 2022 (E) |
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E) |
Impact of Covid-19 and a Looming Global Recession |
2. FOCUS ON SELECT PLAYERS |
Amazon.com, Inc. (USA) |
Cisco Systems, Inc. (USA) |
Google LLC (USA) |
Honeywell International Inc. (USA) |
IBM (USA) |
Intel Corporation (USA) |
Microsoft Corporation (USA) |
NVIDIA Corporation (USA) |
NXP Semiconductors N.V. (The Netherlands) |
PAX Global Technology Limited (Hong Kong) |
PTC, Inc. (USA) |
Samsung Electronics Co., Ltd. (South Korea) |
SoftBank Robotics Holdings Corp. (Japan) |
Texas Instruments, Inc. (USA) |
3. MARKET TRENDS & DRIVERS |
Emergence of New Consumer and Changing Face of Retail Industry Create Fertile Environment for Smart Retail Technologies |
A Note of New Smart Technologies & Concepts Proliferating the Retail Environment |
Increasing Adoption of Smartphones Instigates Robust Momentum |
EXHIBIT: Smartphone Adoption Worldwide by Region (in %): 2018 & 2025 |
Current Scenario in mCommerce Vertical Strongly Favors Smart Retail Model |
EXHIBIT: Global Retail MCommerce Market: Sales in $ Trillion for the Years 2017, 2019, 2021 and 2023 |
Rising Trend of Improving Customer Retail Experience Broadens Addressable Market for Smart Retail Solutions |
Widening Scope & Span of IoT in Retail Sphere Bolsters Market Prospects |
Integration of Smart Retail with Industry 4.0 to Trigger Broad-based Opportunities |
Rise of Connected Retail Creates Conducive Scenario |
Growing Relevancy of Omni-Channel Commerce Augurs Well |
EXHIBIT: World Omni-Channel Commerce Platform Market (in US$ Million) for Years 2018 through 2025 |
Lenience Towards Blockchain for Retail Enthuses Smart Retail Market |
Improvements in Location & Voice Technologies Augur Well |
Prevailing Socio-Economic & Demographic Trends Favor Robust Growth |
Stable Economy |
EXHIBIT: Global Economic Outlook: Real GDP Growth Rates in % by Country/Region for the Years 2018 through 2021 |
Urban Sprawl |
EXHIBIT: World Urban Population in Thousands: 1950-2050 |
EXHIBIT: Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050 |
Growing Affluence of Expanding Middle Class Population |
EXHIBIT: Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030 |
EXHIBIT: Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030 |
Rising Living Standards & Changing Lifestyle Trends |
Cyber Security, Data Transparency & Privacy: Key Issues |
4. GLOBAL MARKET PERSPECTIVE |
World Recent Past, Current & Future Analysis for Smart Retail by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for Smart Retail by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2021 & 2027 |
World Recent Past, Current & Future Analysis for Hardware by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for Hardware by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027 |
World Recent Past, Current & Future Analysis for Software by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for Software by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027 |
World Recent Past, Current & Future Analysis for Visual Marketing by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for Visual Marketing by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027 |
World Recent Past, Current & Future Analysis for Intelligent System by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for Intelligent System by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027 |
World Recent Past, Current & Future Analysis for Smart Payment System by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for Smart Payment System by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027 |
World Recent Past, Current & Future Analysis for Smart Label by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for Smart Label by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027 |
World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR |
World 7-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2021 & 2027 |
III. MARKET ANALYSIS |
UNITED STATES |
Smart Retail Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E) |
The United States: Major Market for Smart Retail Technologies |
Rising Importance of Smart Beacons, Cognitive Computing, & Cardless/Cashless Checkouts Augurs Well |
AI-Powered Retail Systems Make a Cut |
Smart Label Tracking Technology Gains Traction |
USA Recent Past, Current & Future Analysis for Smart Retail by Component - Hardware and Software - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
USA 7-Year Perspective for Smart Retail by Component - Percentage Breakdown of Value Sales for Hardware and Software for the Years 2021 & 2027 |
USA Recent Past, Current & Future Analysis for Smart Retail by Application - Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
USA 7-Year Perspective for Smart Retail by Application - Percentage Breakdown of Value Sales for Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications for the Years 2021 & 2027 |
CANADA |
Canada Recent Past, Current & Future Analysis for Smart Retail by Component - Hardware and Software - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Canada 7-Year Perspective for Smart Retail by Component - Percentage Breakdown of Value Sales for Hardware and Software for the Years 2021 & 2027 |
Canada Recent Past, Current & Future Analysis for Smart Retail by Application - Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Canada 7-Year Perspective for Smart Retail by Application - Percentage Breakdown of Value Sales for Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications for the Years 2021 & 2027 |
JAPAN |
Smart Retail Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E) |
Japan Recent Past, Current & Future Analysis for Smart Retail by Component - Hardware and Software - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Japan 7-Year Perspective for Smart Retail by Component - Percentage Breakdown of Value Sales for Hardware and Software for the Years 2021 & 2027 |
Japan Recent Past, Current & Future Analysis for Smart Retail by Application - Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Japan 7-Year Perspective for Smart Retail by Application - Percentage Breakdown of Value Sales for Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications for the Years 2021 & 2027 |
CHINA |
Smart Retail Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E) |
Robust Growth Prospects in China |
China Recent Past, Current & Future Analysis for Smart Retail by Component - Hardware and Software - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
China 7-Year Perspective for Smart Retail by Component - Percentage Breakdown of Value Sales for Hardware and Software for the Years 2021 & 2027 |
China Recent Past, Current & Future Analysis for Smart Retail by Application - Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
China 7-Year Perspective for Smart Retail by Application - Percentage Breakdown of Value Sales for Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications for the Years 2021 & 2027 |
EUROPE |
Smart Retail Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E) |
Sustained Opportunities for Smart Retail Technologies in Europe |
Focus on Establishing Long-Term Relationships Favors Market Prospects |
IoT Steps In to Reinforce Smart Retail |
Multi-Channel & Omnichannel Strategies Favor Smart Retail Adoption |
Europe Recent Past, Current & Future Analysis for Smart Retail by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR |
Europe 7-Year Perspective for Smart Retail by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2021 & 2027 |
Europe Recent Past, Current & Future Analysis for Smart Retail by Component - Hardware and Software - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Europe 7-Year Perspective for Smart Retail by Component - Percentage Breakdown of Value Sales for Hardware and Software for the Years 2021 & 2027 |
Europe Recent Past, Current & Future Analysis for Smart Retail by Application - Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Europe 7-Year Perspective for Smart Retail by Application - Percentage Breakdown of Value Sales for Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications for the Years 2021 & 2027 |
FRANCE |
Smart Retail Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E) |
France Recent Past, Current & Future Analysis for Smart Retail by Component - Hardware and Software - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
France 7-Year Perspective for Smart Retail by Component - Percentage Breakdown of Value Sales for Hardware and Software for the Years 2021 & 2027 |
France Recent Past, Current & Future Analysis for Smart Retail by Application - Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
France 7-Year Perspective for Smart Retail by Application - Percentage Breakdown of Value Sales for Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications for the Years 2021 & 2027 |
GERMANY |
Smart Retail Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E) |
Germany Recent Past, Current & Future Analysis for Smart Retail by Component - Hardware and Software - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Germany 7-Year Perspective for Smart Retail by Component - Percentage Breakdown of Value Sales for Hardware and Software for the Years 2021 & 2027 |
Germany Recent Past, Current & Future Analysis for Smart Retail by Application - Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Germany 7-Year Perspective for Smart Retail by Application - Percentage Breakdown of Value Sales for Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications for the Years 2021 & 2027 |
ITALY |
Italy Recent Past, Current & Future Analysis for Smart Retail by Component - Hardware and Software - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Italy 7-Year Perspective for Smart Retail by Component - Percentage Breakdown of Value Sales for Hardware and Software for the Years 2021 & 2027 |
Italy Recent Past, Current & Future Analysis for Smart Retail by Application - Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Italy 7-Year Perspective for Smart Retail by Application - Percentage Breakdown of Value Sales for Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications for the Years 2021 & 2027 |
UNITED KINGDOM |
Smart Retail Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E) |
UK Recent Past, Current & Future Analysis for Smart Retail by Component - Hardware and Software - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
UK 7-Year Perspective for Smart Retail by Component - Percentage Breakdown of Value Sales for Hardware and Software for the Years 2021 & 2027 |
UK Recent Past, Current & Future Analysis for Smart Retail by Application - Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
UK 7-Year Perspective for Smart Retail by Application - Percentage Breakdown of Value Sales for Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications for the Years 2021 & 2027 |
REST OF EUROPE |
Rest of Europe Recent Past, Current & Future Analysis for Smart Retail by Component - Hardware and Software - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Rest of Europe 7-Year Perspective for Smart Retail by Component - Percentage Breakdown of Value Sales for Hardware and Software for the Years 2021 & 2027 |
Rest of Europe Recent Past, Current & Future Analysis for Smart Retail by Application - Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Rest of Europe 7-Year Perspective for Smart Retail by Application - Percentage Breakdown of Value Sales for Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications for the Years 2021 & 2027 |
ASIA-PACIFIC |
Smart Retail Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E) |
Asia-Pacific Emerges as a Lucrative Market |
Asia-Pacific Recent Past, Current & Future Analysis for Smart Retail by Component - Hardware and Software - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Asia-Pacific 7-Year Perspective for Smart Retail by Component - Percentage Breakdown of Value Sales for Hardware and Software for the Years 2021 & 2027 |
Asia-Pacific Recent Past, Current & Future Analysis for Smart Retail by Application - Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Asia-Pacific 7-Year Perspective for Smart Retail by Application - Percentage Breakdown of Value Sales for Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications for the Years 2021 & 2027 |
REST OF WORLD |
Rest of World Recent Past, Current & Future Analysis for Smart Retail by Component - Hardware and Software - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Rest of World 7-Year Perspective for Smart Retail by Component - Percentage Breakdown of Value Sales for Hardware and Software for the Years 2021 & 2027 |
Rest of World Recent Past, Current & Future Analysis for Smart Retail by Application - Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications - Independent Analysis of Annual Sales in US$ Million for the Years 2020 through 2027 and % CAGR |
Rest of World 7-Year Perspective for Smart Retail by Application - Percentage Breakdown of Value Sales for Visual Marketing, Intelligent System, Smart Payment System, Smart Label and Other Applications for the Years 2021 & 2027 |
IV. COMPETITION |
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