Smart Retail Market report 2023 | Exactitude Consultancy Reports

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Exactitude Consultancy Latest Published Smart Retail Market by Solutions Outlook (Hardware, Software) Retail Offering (Apparel and Accessories, Fast-moving Consumer Goods, Hardlines and Leisure Goods, Others) Application (Visual Marketing, Smart Label, Smart Payment System, Robotics, Others) End User (Supermarkets, Hypermarkets, Specialty Stores, Department Stores, Other End Users) and by Region Global Trends and Forecast from 2023 to 2029

The global smart retail market size was valued at USD 19.86 billion in 2022, and projected to reach USD 105.27 billion by 2029, with a CAGR of 20.36% from 2023 to 2029.

Segment Analysis
The market is divided into two categories: hardware and software. In 2021, the hardware segment dominated the market, accounting for more than 67% of global revenue. The increasing deployment of Augmented Reality (AR) and Virtual Reality (VR) devices, point of sale (POS) systems, Bluetooth beacons, and Radio-frequency identification (RFID) systems to provide customers with a seamless in-store shopping experience is fueling the segment’s growth. Over the forecast period, the software segment is expected to grow at the fastest CAGR of 28.5%. One of the key factors driving the segment’s growth is the increased use of analytics software by retailers around the world to better understand specific end-user needs and behavior in order to improve customer engagement and the shopping experience.

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