Smart Retail Market

Industry Overview

The Smart Retail Market is likely to grow from USD 20.4 billion to USD 63.5 billion by 2030 during the forecast period at a high CAGR of 24.7%.  

It actually signifies the advanced retail technologies. These technologies allow physical stores a significant edge to compete with online traders, drive more customers towards their stores, and regain lost market. The technology helps in collecting valuable data regarding customer behavior and buying patterns and analyze them accurately. This further helps the distributors to personalize their offerings to enhance the shopping experience. Sophisticated technologies such as beacons, mPOS, and NFC allow them to collect relevant information and even greet consumers by their name. The integration of advanced technologies such as AI, AR, VR and Internet of Things (IoT) make the mechanism much more efficient. This allows widespread use across several industry verticals for different reasons, such as improving store operations, optimizing inventory management, and providing better shopping experience to consumers.

Market Segmentation

Insight by Application

The global smart retail market is divided by its applications into Foot-traffic Monitoring and control, Inventory Management, Loyalty Management and Payment, Predictive Equipment Maintenance, Brand Protection, and Smart Fitting Rooms segments. Out of these segments, the foot-traffic monitoring and control segment is expected to grow at a faster rate and hold the larger share of the market due to rapid urbanization, rise in foot traffic in the retail industry, and increased sales and profit margins of the brick-and-mortar stores.

Insight by Retail Offering

According to the offerings, the global smart retail market is divided into Apparel and Accessories, Fast-moving consumer goods, Hardlines and Leisure Goods, and other segments. Out of these segments, the fast-moving consumer goods segment is expected to grow more and hold a larger share of the market due to the ever-growing global population.

Insight by Technology

The global smart retail market is divided by different technologies used, into Radio Frequency Identification (RFID), Internet of Things (IoT), Augmented Reality (AR), Virtual Reality (VR), and Artificial Intelligence (AI). Among all these segments, the AI and RFID segments are expected to grow more due to improved inventory accuracy streamlined supply chain management and operations. The IoT technology segment will also grow due to its ability for real-time data collection and analysis.

Insight by Store Type

Different store types also divide the global smart retail market into Supermarkets or Hypermarkets, Specialty Stores, Department Stores, and Convenience Stores. Out of all these market segmentations, the supermarkets or hypermarkets sector has a greater growth potential to grow more and contribute a larger share to the market due to more such stores and larger amount of traffic in them. The specialty stores category is also expected to grow at a higher CAGR due to a rising emphasis on offing tailored product and shopping experience.

Insight by Deployment Mode

Divided according to the different deployment modes, the global smart retail market categories include on-premises and cloud-based solutions. Out of these two segments, the cloud-based solutions segment is anticipated to dominate the market and grow at a faster rate due to higher scalability, easy integration with the current systems, and greater cost-effectiveness. On the other hand, the on-premises solutions segments will also grow significantly in the large retailer sector, in particular due to higher customization requirements.

Global Smart Retail Market Report Coverage

Industry Dynamics

Industry Trends

The major players in the industry are adopting the cloud and using edge computing models to offer key solutions. Efforts are also made to improve data collection and analysis, merchandising and predictive analytics in the cloud. There is also a growing trend of omnichannel retailing noticed among the retailers to offer better shopping experience irrespective of the channels used due to the integration of both offline and online data gathered from continual customer interactions that help in personalizing offerings. The retail sectors are now offering contactless payment options more notably. This adds to the shopping experience and convenience of the consumers. It also enhances security while making a payment. Automation is another significant trend as well as the growing use of robotics in managing different retail processes. It improves inventory operation and management, fulfilling order timely, and overall customer service. The automated robots ease the operations related to restocking, shelf scanning, and product delivery. The intention to offer more sustainable service and following eco-friendly and ethical practices is another emerging trend seen in retail strategies. This offers higher transparency and sustainable sourcing. Emphasis on ensuring higher security by integrating advanced technologies into the existing security measures reduces cyber threats, upholds data privacy, and safeguards customer info. This increases trust among the consumers.

Growth Drivers

The use of advanced technologies like AI is driving the global smart retail market forward because these technologies help enhance everything from operations and inventory management to customer experience. Retailers use these technologies to collect and analyze data to draw insights about sales, quantity, and price and reach the target audience in a better way. In addition, the digitization initiatives of retail chains are supposed to drive market growth. The changing preferences of the consumers also affect the growth of the market since they want a more convenient, personalized, and higher shopping experience. As a result, the retailers are adopting smart retail solutions to cater to their changing needs. The e-commerce market has also grown significantly over the past few years on a global scale which fuels the growth of smart retail market because the retailers need to integrate advanced technologies into their existing systems to improve operations, stay competitive, and offer an omnichannel shopping experience to consumers. Growing smart city development and rapid urbanization also needs integrating cutting-edge technologies and retail solutions into the existing infrastructure. This propels the smart retail market growth further. Higher use of smartphones and other mobile devices to make payments has also resulted in the growing adoption of mobile-friendly technologies in smart retail. Other significant factors that drive the market growth include higher customer engagement via several loyalty programs, greater efficiency of the demand and supply chain due to logistics optimization, growing disposable income, supportive government initiatives, higher investments in digital infrastructure, growing focus on reducing environmental impact and enhance sustainability, and intense competitive pressure.

Challenges

Stringent data regulation laws such as the General Data Protection Regulation (GDPR) hinder market growth because they will not allow any retailer to use big data technology and take advantage of it without caring for data privacy. Also, a slower rate of tech penetration in developing countries affects the growth of the smart retail market.

Opportunities

Fast modernization drives, tech developments, and adoption of cloud-based platforms are, however, presenting higher growth opportunities for the Middle East and African markets. Also, the General Data Security Regulation of the European Union is contributing significantly to the growth of the market.

Geographic Overview

The APAC region is expected to show higher growth potential during the forecast period due to higher penetration of broadband internet services and the fast-expanding economies in this region. The growth prospects drive more investments from the global retail chains in these markets. This will raise the demand significantly. Also, the adoption of retail analytical platforms by several countries like China, Japan, and Australia is driving the smart retail market in this region. It is expected to grow more in the projected period.

The North American smart retail market is also expected to grow significantly during the forecast period due to developed technological infrastructure, growing demand for innovations, higher investments in research and development, the existence of a large number of retail majors, growing emphasis on omnichannel retailing, and supportive government regulations.

Competitive Insights

Some of the key players in the smart retail market are INTEL CORPORATION, IBM, Samsung Electronics, AMAZON, Google, Inc, MICROSOFT CORPORATION, SOFTBANK ROBOTICS HOLDINGS, Ingenico S.A., Verifone Systems, NCR Corporation, Cisco Systems, Inc., NXP Semiconductors N.V., Huawei Investment & Holding Co., Ltd, NVIDIA Corporation, Samsung Electronics, PTC, Inc., Trigo, Standard Cognition, Caper Inc., Zippin, Walmart Inc., Alibaba Group Holding Limited, and Albert Heijn BV (Ahold Delhaize).

Intel Corporation is an American multinational corporation and technology company headquartered in Santa Clara, California, and incorporated in Delaware. Intel designs, manufactures and sells computer components and related products for business and consumer markets.

Google LLC is an American multinational corporation and technology company focusing on online advertising, search engine technology, cloud computing, computer software, quantum computing, e-commerce, consumer electronics, and artificial intelligence.

Recent Developments by key Players

Microsoft has launched a series of new generative AI and data solutions for retailers. The updates respond to ongoing challenges in the retail industry, from high store associate turnover to changing shopping habits, with retailers increasingly turning to data-backed generative AI solutions to help meet these challenges. The new updates give retailers access to copilot templates on Azure OpenAI Service to build personalized shopping experiences.

Amazon is selling its smart grocery cart technology as a service offering and the technology is in play at grocery locations. Several stores in Kansas and Missouri are currently testing the Dash Cart

The Smart Retail Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.

Segments Covered in the Report

• By Application
  • Foot-traffic Monitoring
  • Inventory Management
  • Loyalty Management and Payment
  • Predictive Equipment Maintenance
  • Brand Protection
  • Smart Fitting Rooms
• By Retail Offering Mode
  • Apparel and Accessories
  • Fast-moving Consumer Goods
  • Hardlines and Leisure Goods
  • Others

Region Covered in the Report

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World (RoW)
  • Brazil
  • Saudi Arabia
  • South Africa
  • U.A.E.
  • Other Countries

Source: VynZ Research

1.    Research Overview 
        1.1.    The Report Offers
        1.2.    Market Coverage
                1.2.1.    By Application
                1.2.2.    By Retail Offering
        1.3.    Research Phases
        1.4.    Limitations
        1.5.    Research Methodology
                1.5.1.    Data Sources
                        1.5.1.1.    Primary Research
                        1.5.1.2.    Secondary Research
                1.5.2.    Methodology
                        1.5.2.1.    Data Exploration
                        1.5.2.2.    Forecast Parameters
                        1.5.2.3.    Data Validation
                        1.5.2.4.    Assumptions
                1.5.3.    Study Period & Data Reporting Unit
2.    Executive Summary
3.    Industry Overview
        3.1.    Industry Dynamics
                3.1.1.    Market Growth Drivers
                3.1.2.    Market Restraints
                3.1.3.    Key Market Trends
                3.1.4.    Major Opportunities
        3.2.    Industry Ecosystem
                3.2.1.    Porter’s Five Forces Analysis
                3.2.2.    Recent Development Analysis
                3.2.3.    Value Chain Analysis
        3.3.    Competitive Insight
                3.3.1.    Competitive Position of Industry Players
                3.3.2.    Market Attractive Analysis
4.    Global Market Estimate and Forecast
        4.1.    Global Market Overview
        4.2.    Global Market Estimate and Forecast to 2030
5.    Market Segmentation Estimate and Forecast
        5.1.    By Application
                5.1.1.    Foot-traffic Monitoring 
                        5.1.1.1.    Market Definition
                        5.1.1.2.    Market Estimation and Forecast to 2030
                5.1.2.     Inventory Management 
                        5.1.2.1.    Market Definition
                        5.1.2.2.    Market Estimation and Forecast to 2030
                5.1.3.     Loyalty Management and Payment
                        5.1.3.1.    Market Definition
                        5.1.3.2.    Market Estimation and Forecast to 2030
                5.1.4.     Predictive Equipment Maintenance
                        5.1.4.1.    Market Definition
                        5.1.4.2.    Market Estimation and Forecast to 2030
                5.1.5.     Brand Protection
                        5.1.5.1.    Market Definition
                        5.1.5.2.    Market Estimation and Forecast to 2030
                5.1.6.     Smart Fitting Rooms
                        5.1.6.1.    Market Definition
                        5.1.6.2.    Market Estimation and Forecast to 2030

        5.2.    By Retail Offering
                5.2.1.    Apparel and Accessories
                        5.2.1.1.    Market Definition
                        5.2.1.2.    Market Estimation and Forecast to 2030
                5.2.2.    Fast-moving Consumer Goods
                        5.2.2.1.    Market Definition
                        5.2.2.2.    Market Estimation and Forecast to 2030
                5.2.3.    Hardlines and Leisure Goods
                        5.2.3.1.    Market Definition
                        5.2.3.2.    Market Estimation and Forecast to 2030
                5.2.4.    Others
                        5.2.4.1.    Market Definition
                        5.2.4.2.    Market Estimation and Forecast to 2030

6.    North America Market Estimate and Forecast
        6.1.    By Application 
        6.2.    By Retail Offering Mode
        6.3.    By Country
                6.3.1.    U.S. Market Estimate and Forecast
                6.3.2.    Canada Market Estimate and Forecast
                6.3.3.    Mexico Market Estimate and Forecast
7.    Europe Market Estimate and Forecast
        7.1.    By Application 
        7.2.    By Retail Offering Mode
        7.3.    By Country
                7.3.1.    Germany Market Estimate and Forecast
                7.3.2.    France Market Estimate and Forecast
                7.3.3.    U.K. Market Estimate and Forecast
                7.3.4.    Italy Market Estimate and Forecast
                7.3.5.    Spain Market Estimate and Forecast
                7.3.6.    Russia Market Estimate and Forecast
                7.3.7.    Rest of Europe Market Estimate and Forecast
8.    Asia-Pacific Market Estimate and Forecast
        8.1.    By Application
        8.2.    By Retail Offering Mode
        8.3.    By Country 
                8.3.1.    China Market Estimate and Forecast
                8.3.2.    Japan Market Estimate and Forecast
                8.3.3.    India Market Estimate and Forecast
                8.3.4.    South Korea Market Estimate and Forecast
                8.3.5.    Rest of Asia-Pacific Market Estimate and Forecast
9.    Rest of the World (RoW) Market Estimate and Forecast
        9.1.    By Application
        9.2.    By Retail Offering Mode
        9.3.    By Country
                9.3.1.    Brazil Market Estimate and Forecast
                9.3.2.    Saudi Arabia Market Estimate and Forecast
                9.3.3.    South Africa Market Estimate and Forecast
                9.3.4.    U.A.E. Market Estimate and Forecast
                9.3.5.    Other Countries Market Estimate and Forecast
10.    Company Profiles
        10.1.    INTEL CORPORATION
                10.1.1.    Snapshot
                10.1.2.    Overview
                10.1.3.    Offerings
                10.1.4.    Financial Insight
                10.1.5.    Recent Developments
        10.2.    IBM
                10.2.1.    Snapshot
                10.2.2.    Overview
                10.2.3.    Offerings
                10.2.4.    Financial Insight
                10.2.5.    Recent Developments
        10.3.    Samsung Electronics
                10.3.1.    Snapshot
                10.3.2.    Overview
                10.3.3.    Offerings
                10.3.4.    Financial Insight
                10.3.5.    Recent Developments
        10.4.    AMAZON
                10.4.1.    Snapshot
                10.4.2.    Overview
                10.4.3.    Offerings
                10.4.4.    Financial Insight
                10.4.5.    Recent Developments
        10.5.    Google, Inc
                10.5.1.    Snapshot
                10.5.2.    Overview
                10.5.3.    Offerings
                10.5.4.    Financial Insight
                10.5.5.    Recent Developments
        10.6.    MICROSOFT CORPORATION
                10.6.1.    Snapshot
                10.6.2.    Overview
                10.6.3.    Offerings
                10.6.4.    Financial Insight
                10.6.5.    Recent Developments
        10.7.    SOFTBANK ROBOTICS HOLDINGS
                10.7.1.    Snapshot
                10.7.2.    Overview
                10.7.3.    Offerings
                10.7.4.    Financial Insight
                10.7.5.    Recent Developments
        10.8.   Ingenico S.A
                10.8.1.    Snapshot
                10.8.2.    Overview
                10.8.3.    Offerings
                10.8.4.    Financial Insight
                10.8.5.    Recent Developments
        10.9.    Verifone Systems
                10.9.1.    Snapshot
                10.9.2.    Overview
                10.9.3.    Offerings
                10.9.4.    Financial Insight
                10.9.5.    Recent Developments
        10.10.  NCR Corporation
                10.10.1.    Snapshot
                10.10.2.    Overview
                10.10.3.    Offerings
                10.10.4.    Financial Insight
        10.11.  Cisco Systems, Inc. 
                10.11.1.    Snapshot
                10.11.2.    Overview
                10.11.3.    Offerings
                10.11.4.    Financial Insight
        10.12.  NXP Semiconductors N.V
                10.12.1.    Snapshot
                10.12.2.    Overview
                10.12.3.    Offerings
                10.12.4.    Financial Insight
        10.13.  Huawei Investment & Holding Co., Ltd 
                10.13.1.    Snapshot
                10.13.2.    Overview
                10.13.3.    Offerings
                10.13.4.    Financial Insight
        10.14. NVIDIA Corporation 
                10.14.1.    Snapshot
                10.14.2.    Overview
                10.14.3.    Offerings
                10.14.4.    Financial Insight
        10.15. Samsung Electronics 
                10.15.1.    Snapshot
                10.15.2.    Overview
                10.15.3.    Offerings
                10.15.4.    Financial Insight
        10.16. PTC, INC
                10.16.1.    Snapshot
                10.16.2.    Overview
                10.16.3.    Offerings
                10.16.4.    Financial Insight
       10.17. Trigo
                10.17.1.    Snapshot
                10.17.2.    Overview
                10.17.3.    Offerings
                10.17.4.    Financial Insight
        10.18. Standard Cognition 
                10.18.1.    Snapshot
                10.18.2.    Overview
                10.18.3.    Offerings
                10.18.4.    Financial Insight
        10.19. Caper Inc
                10.19.1.    Snapshot
                10.19.2.    Overview
                10.19.3.    Offerings
                10.19.4.    Financial Insight
        10.20. Zippin
                10.20.1.    Snapshot
                10.20.2.    Overview
                10.20.3.    Offerings
                10.20.4.    Financial Insight
        10.21. Walmart Inc.
                10.21.1.    Snapshot
                10.21.2.    Overview
                10.21.3.    Offerings
                10.21.4.    Financial Insight
        10.22. Alibaba Group Holding Limited
                10.22.1.    Snapshot
                10.22.2.    Overview
                10.22.3.    Offerings
                10.22.4.    Financial Insight
        10.23. Albert Heijn BV (Ahold Delhaize)
                10.23.1.    Snapshot
                10.23.2.    Overview
                10.23.3.    Offerings
                10.23.4.    Financial Insight

11.    Appendix
        11.1.    Exchange Rates
        11.2.    Abbreviations

List of Tables
Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global Smart Retail Market Size, By Application, 2018 - 2023 (USD Billion)
Table 5 Global Smart Retail Market Size, By Application, 2025 - 2030 (USD Billion)
Table 6 Global Smart Retail Market Size, By Retail Offering Mode,2018 - 2023 (USD Billion)
Table 7 Global Smart Retail Market Size, By Retail Offering Mode,2025 - 2030 (USD Billion)
Table 8 Global Smart Retail Market Size, By Region, 2018 - 2023 (USD Billion)
Table 9 Global Smart Retail Market Size, By Region, 2025 - 2030 (USD Billion)
Table 10 North America Smart Retail Market Size, By Application, 2018 - 2023 (USD Billion)
Table 11 North America Smart Retail Market Size, By Application, 2025 - 2030 (USD Billion)
Table 12 North America Smart Retail Market Size, By Retail Offering Mode Type, 2018 - 2023 (USD Billion)
Table 13 North America Smart Retail Market Size, By Retail Offering Mode Type, 2025 - 2030 (USD Billion)
Table 14 North America Smart Retail Market Size, By Region, 2018 - 2023 (USD Billion)
Table 15 North America Smart Retail Market Size, By Region, 2025 - 2030 (USD Billion)
Table 16 Europe Smart Retail Market Size, By Application, 2018 - 2023 (USD Billion)
Table 17 Europe Smart Retail Market Size, By Application, 2025 - 2030 (USD Billion)
Table 18 Europe Smart Retail Market Size, By Retail Offering Mode Type, 2018 - 2023 (USD Billion)
Table 19 Europe Smart Retail Market Size, By Retail Offering Mode Type, 2025 - 2030 (USD Billion)
Table 20 Europe Smart Retail Market Size, By Region, 2018 - 2023 (USD Billion)
Table 21 Europe Smart Retail Market Size, By Region, 2025 - 2030 (USD Billion)
Table 22 Asia-Pacific Smart Retail Market Size, By Application, 2018 - 2023 (USD Billion)
Table 23 Asia-Pacific Smart Retail Market Size, By Application, 2025 - 2030 (USD Billion)
Table 24 Asia-Pacific Smart Retail Market Size, By Retail Offering Mode Type, 2018 - 2023 (USD Billion)
Table 25 Asia-Pacific Smart Retail Market Size, By Retail Offering Mode Type, 2025 - 2030 (USD Billion)
Table 26 Asia-Pacific Smart Retail Market Size, By Region, 2018 - 2023 (USD Billion)
Table 27 Asia-Pacific Smart Retail Market Size, By Region, 2025 - 2030 (USD Billion)
Table 28 RoW Smart Retail Market Size, By Application, 2018 - 2023 (USD Billion)
Table 29 RoW Smart Retail Market Size, By Application, 2025 - 2030 (USD Billion)
Table 30 RoW Smart Retail Market Size, By Retail Offering Mode Type, 2018 - 2023 (USD Billion)
Table 31 RoW Smart Retail Market Size, By Retail Offering Mode Type, 2025 - 2030 (USD Billion)
Table 32 RoW Smart Retail Market Size, By Region, 2018 - 2023 (USD Billion)
Table 33 RoW Smart Retail Market Size, by Region, 2025 - 2030 (USD Billion)
Table 34 Snapshot – INTEL CORPORATION
Table 35 Snapshot – IBM
Table 36 Snapshot – SAMSUNG ELECTRONICS
Table 37 Snapshot – AMAZON
Table 38 Snapshot – Google, Inc
Table 39 Snapshot – MICROSOFT CORPORATION  
Table 40 Snapshot – SOFTBANK ROBOTICS HOLDINGS
Table 41 Snapshot – Ingenico S.A
Table 42 Snapshot – Verifone Systems 
Table 43 Snapshot – NCR Corporation
Table 44 Snapshot – Cisco Systems, Inc. 
Table 45 Snapshot – NXP Semiconductors N.V
Table 46 Snapshot – Huawei Investment & Holding Co., Ltd 
Table 47 Snapshot – NVIDIA Corporation 
Table 48 Snapshot – Samsung Electronics 
Table 49 Snapshot – PTC, INC
Table 50 Snapshot – Trigo
Table 51 Snapshot – Standard Cognition 
Table 52 Snapshot – Caper Inc
Table 53 Snapshot – Zippin
Table 54 Snapshot – Walmart Inc.
Table 55 Snapshot – Alibaba Group Holding Limited
Table 56 Snapshot – Albert Heijn BV (Ahold Delhaize)
LIST OF FIGURESFigure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9 Global Smart Retail Market - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global Smart Retail Market Highlight
Figure 12 Global Smart Retail Market Size, By Application, 2018 - 2030(USD Billion)
Figure 13 Global Smart Retail Market Size, By Retail Offering Mode Type, 2018 - 2030(USD Billion)
Figure 14 Global Smart Retail Market Size, by Region, 2018 - 2030(USD Billion)
Figure 15 North America Smart Retail Market Highlight
Figure 16 North America Smart Retail Market Size, By Application, 2018 - 2030(USD Billion)
Figure 17 North America Smart Retail Market Size, By Retail Offering Mode Type, 2018 - 2030(USD Billion)
Figure 18 North America Smart Retail Market Size, by Region, 2018 - 2030(USD Billion)
Figure 19 Europe Smart Retail Market Highlight
Figure 20 Europe Smart Retail Market Size, By Application, 2018 - 2030(USD Billion)
Figure 21 Europe Smart Retail Market Size, By Retail Offering Mode Type, 2018 - 2030(USD Billion)
Figure 22 Europe Smart Retail Market Size, by Region, 2018 - 2030(USD Billion)
Figure 23 Asia-Pacific Smart Retail Market Highlight
Figure 24 Asia-Pacific Smart Retail Market Size, By Application, 2018 - 2030(USD Billion)
Figure 25 Asia-Pacific Smart Retail Market Size, By Retail Offering Mode Type, 2018 - 2030(USD Billion)
Figure 26 Asia-Pacific Smart Retail Market Size, by Region, 2018 - 2030(USD Billion)
Figure 27 RoW Smart Retail Market Highlight
Figure 28 RoW Smart Retail Market Size, By Application, 2018 - 2030(USD Billion)
Figure 29 RoW Smart Retail Market Size, By Retail Offering Mode Type, 2018 - 2030(USD Billion)
Figure 30 RoW Smart Retail Market Size, By Region, 2018 - 2030(USD Billion)