What Has Been The Evolution of the Smart Shopping Cart Market in Recent Years?
The smart shopping cart market has seen considerable growth due to a variety of factors.
• In recent years, the scale of the intelligent shopping cart market has dramatically expanded. The projected growth is from $1.72 billion in 2024 to $2.21 billion in 2025, with an impressive compound annual growth rate (CAGR) of 28.5%.
The historic growth rate can be traced back to factors like improved retail efficiency, customer convenience, touchless transactions, heightened security protocols, and competitive distinction.
What Are the Future Growth Projections for the Smart Shopping Cart Market?
The smart shopping cart market is expected to maintain its strong growth trajectory in upcoming years.
• The smart shopping cart industry is anticipated to witness staggering growth in the coming years, with predictions suggesting it will reach $5.35 billion by 2029, growing at a compound annual growth rate (CAGR) of 24.8%.
This anticipated growth over the forecast period can be ascribed to several factors such as the integration of AI and machine learning, the emergence of autonomous stores, the effects of the global pandemic, a growing emphasis on sustainability and the broadening of e-commerce integration. The forecast period also indicates major upcoming trends including technological advancements, the incorporation of data analytics, the growth of autonomous stores, initiatives for smart cities, and the inclusion of augmented reality (AR) features.
What Are The Core Factors Supporting Growth In The Smart Shopping Cart Market?
The smart shopping cart market's expansion is expected to be fuelled by the growing retail industry. This industry represents an economic segment where goods or services are sold directly to shoppers. Various factors, such as shifts in consumer habits, the surge in online shopping, and challenging economic circumstances, influence the growth of the retail sector. Smart shopping carts are predominantly utilized in this sector to enhance customer shopping experiences, boost retailer efficiency, and cultivate a more advanced, efficient, and customer-oriented shopping setting. For example, as per the National Retail Federation's March 2023 data, US retail sales rose to $5.23 trillion in 2023 from $4.94 trillion in 2022. The association forecasts a retail sales increase of between 4% and 6% in 2023. Thus, the burgeoning retail industry is contributing to the growth of the smart shopping cart market.
What Are The Major Segments Within The Global Smart Shopping Cart Market?
The smart shopping cart market covered in this report is segmented –
1) By Component: Wheels, Handles, Bags, Frames, Scanner, Display, Other Components
2) By Technology: Barcodes, Radio-Frequency Identification (RFID), Zigbee
3) By Mode Of Sales: Direct, Distributor
4) By Application: Super market, Shopping Malls, Other Applications
Subsegments:
1) By Wheels: Standard Wheels, Smart Navigation Wheels
2) By Handles: Ergonomic Handles, Smart Touchscreen Handles
3) By Bags: Insulated Shopping Bags, Detachable Storage Bags
4) By Frames: Lightweight Frames, Foldable Frames
5) By Scanner: Barcode Scanners, RFID Scanners
6) By Display: Digital Displays, Touchscreen Displays
7) By Other Components: Payment Modules, Battery Packs
Pre-Book The Smart Shopping Cart Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What New Trends Are Influencing The Smart Shopping Cart Market?
Prominent entities operating in the smart shopping cart sector are enhancing technological aspects of products like shopping carts, with the key objective of providing unique personalized in-store shopping experiences. Smart shopping carts represent a revolutionary advancement in shopping trolleys that leverage integrated technology to improve the grocery shopping process. These carts come loaded with features such as cameras, weight scales, barcode scanners, and more, which enables them to identify the items chosen by the customers and show the corresponding prices on a display screen. For example, in May 2022, US-based grocery firm, Albertsons Companies Inc., introduced smart shopping carts in collaboration with Veeve Inc., an American company dedicated to enhancing shopper engagement in the retail industry. These technologically enriched shopping carts extend to the customers the convenience of scanning their items directly in the cart, weighing their produce, and monitoring the ongoing total cost. They can also be integrated with loyalty accounts, thus offering access to various offers and savings during shopping. The ambition driving these AI-enabled carts is to escalate personalization, potentially identifying shopping behaviors and suggesting relevant products or recipes. Another key convenience offered by them is the simplification of the checkout process.
Who Are the Key Players In The Smart Shopping Cart Market?
Major companies operating in the smart shopping cart market are:
• Walmart Inc.
• Amazon.com Inc.
• Microsoft
• Mitsui And Co. Ltd.
• Panasonic
• International Business Machines Corporation
• Oracle Corporation
• SAP SE
• Fujitsu Limited
• SK Telecom Co. Ltd.
• Check Point Software Technologies
• Veeve Systems
• Toshiba Global Commerce Solutions Inc.
• Carttronics LLC
• Zippin Inc.
• Focal Systems Inc.
• Mashgin Inc.
• Nourish TechnologyInc.
• Imagr Ltd.
• Wheelys Café AB
• Pentland Firth Software GmbH
• Grabango Co.
• SuperSmart
• Sensei Technologies Inc.
• Standard Cognition Corporation
What Is The Most Dominant Region In The Smart Shopping Cart Market?
North America was the largest region in the smart shopping cart market in 2024. The regions covered in the smart shopping cart market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
