BANGALORE, India, April 21, 2020 /PRNewswire/ -- A smart retail is a retail brick-and-mortar establishment that uses smart technology such as advanced shelves, smart cards etc. Smart retail typically delivers their services in real stores through the Cloud, mobile apps, and virtual reality apps.
One of the major factors for the growth of the smart retail market is the increasing competition from e-commerce sites. Conventional bricks-and-mortar stores are facing intense competition from the increasingly growing e-commerce market in today's retail industry. Traditional retailers also need to implement smart retail technologies to get their customers back in. The technology aims to boost the experience of digital shopping in physical stores.
In 2019, the global Smart Retail market size was USD 12.410 billion and is projected to reach USD 30.730 billion by the end of 2026, at a CAGR of 13.7% in the 2021-2026 period.
The report provides informative and detailed information on the various key players operating in the industry, their finances, supply chain trends, technological innovations, key developments, apart from strategic strategies, acquisitions and mergers, and business footprint.
TRENDS INFLUENCING THE SMART RETAIL MARKET SIZE :
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REGION WISE SMART RETAIL MARKET SHARE ANALYSIS
It is anticipated that the Asia Pacific smart retail market will experience the highest CAGR during the forecast period. Adoption of smart retail solutions such as RFID, facial recognition and big data analytics to promote online shopping experience inside a physical store by retailers in China and Japan is one of the major trends that is expected to increase the market share.
MARKET SEGMENT BY REGIONS/COUNTRIES, THIS REPORT COVERS
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The key players covered in this study
Smart Retail Market segmented by Type:
Smart Retail Market segmented by Application:
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