The Smart Retail Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Smart Retail Market?
The Smart Retail Global Market reported an exponential growth in its market size in recent years. In 2024, the market size was $54.56 billion, which is projected to increase to $67.73 billion in 2025. The compound annual growth rate (CAGR) over this period is 24.1%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Smart Retail Industry?
By 2029, the smart retail market is projected to reach a size of $162.71 billion. The growth rate over this period is expected to be 24.5% compound annual growth rate (CAGR).
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What are the Key Growth Drivers Fueling the Smart Retail Market?
The key drivers in the smart retail market are:
• Implementation of 5G technology
• Adoption of contactless solutions
• Initiatives towards sustainability
• Advancements and expanded use of Internet of Things (IoT) technology.
Global Market Segmentation: Identifying Major Smart Retail Industry Segments
The smart retail market covered in this report is segmented –
1) By System: Digital Signage Solutions, Smart Labels, Smart Payment Systems, Intelligent Vending Machines, Augmented Reality Solutions, Virtual Reality Solutions, Other Systems
2) By Technology: Visual Recognition, Blockchain, Artificial Intelligence, Mobiles
3) By Application: Foot-Traffic Monitoring, Inventory Management, Loyalty Management and Payment, Predictive Equipment Maintenance, Brand Protection, Other Applications
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What are the Emerging Trends Shaping the Future of the Smart Retail Market?
The key trends in the letter of credit confirmation market are:
• Augmented reality (AR) and virtual reality (VR) integration is an emerging trend in the smart retail market.
• Advancements in technology will play a key role in shaping the future of this market.
• The expanded use of the Internet of Things (IoT) is another significant trend forecasted.
• There is a growing interest in the adoption of localization, personalization, blockchain for supply chain transparency, and multi-channel retailing.
Who Are the Top Competitors & Leading Players in the Smart Retail Market?
Major companies in the smart retail market are:
• Honeywell International Inc.
• Huawei Technologies Co. Ltd.
• LG Display Co. Ltd.
• Intel Corporation
• Samsung Electronics Co. Ltd.
• Verifone Inc.
• International Business Machines Corporation (IBM)
• Cisco Systems Inc.
• Ingenico Group S. A.
• Amazon. com Inc.
• NCR Corporation
• PAX Global Technology Limited
• Fiserv Inc.
• Google LLC
• AWM Smart Shelf
• Bossa Nova Robotics Inc.
• Robert Bosch GmbH
• Microsoft Corporation
• NVIDIA Corporation
• NXP Semiconductors NV
• Trigo Vision Ltd.
• PTC Inc.
• Prismview LLC
• NEC Display Solutions Ltd.
• Elo Touch Solutions Inc.
• E Ink Holdings Inc.
• Diebold Nixdorf Inc.
• ComQi Inc.
• Bluebird Inc.
• Advantech Co. Ltd.
• 3M Company
Regional Dominance: Which Area Leads the Global Smart Retail Market?
North America was the largest region in the smart retail market in 2024
