Middle East & Africa Smart Retail Devices Market

Market Introduction

The smart retail devices market in the MEA is categorized into South Africa, Saudi Arabia, UAE, and the Rest of the MEA. The region is expected to witness a rapid increase in the commercialization and industrialization sectors, which would further boost various industries. The Gulf countries are economically developed, while the African countries are yet to match up to the economic conditions of the Gulf countries. However, certain developing economies of Africa, such as Kenya, Nigeria, Ethiopia, and Tanzania, are witnessing rapid urbanization. Countries in GCC are also investing in developing smart cities. The increasing smart city projects are creating ample opportunities for the smart retail device players in the MEA region. The governments of GCC are taking several initiatives to diversify their economy with an intention to reduce their dependency on the oil & gas sector. Attributed to this, these governments are taking measures to develop other industries such as hospitality and tourism, manufacturing, and retail. Increasing focus to the retail industry offers enhanced service experience for customers is supporting the market growth. For instance, in July 2020, Dubai’s Department of Economic Development and other semi-government and private entities partnered with Network International for the Smart Dubai project. The Smart Dubai project was launched in Dubai in 2019, under which Network International is now offering advanced solutions for the retail sector to enhance experiences and services for customers.

Among the MEA countries, Iran has recorded the highest number of COVID-19 confirmed cases. Other major countries facing the economic impact of COVID-19 include Turkey, Saudi Arabia, the UAE, Egypt, Morocco, and Kuwait. The region comprises many growing economies such as which are prospective markets for smart retail devices providers, owing to the huge presence of diverse customer base for the retail and transportation & logistics industry. The COVID-19 pandemic has significantly affected the global economies. Still, the impact on the Middle East region is somewhat more, as there was already a pressure on the economy of various oil-based countries due to falling oil prices. In addition to this, factory and business shutdowns and travel bans further aggravated the economic problems of the countries in the MEA region. Hence, the estimated decline in the MEA's economic condition and the impact of COVID-19 on the growth of various industries in the region is expected to negatively impact the growth of the smart retail devices market in 2020 and 2021.

Middle East & Africa Smart Retail Devices Strategic Insights

Strategic insights for the Middle East & Africa Smart Retail Devices provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Middle East & Africa Smart Retail Devices Report Scope

Middle East & Africa Smart Retail Devices Regional Insights

The geographic scope of the Middle East & Africa Smart Retail Devices refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The smart retail devices market in MEA is expected to grow from US$ 869.65 million in 2019 to US$ 1,391.25 million by 2027; it is estimated to grow at a CAGR of 6.5% from 2020 to 2027. Animatronics is the process of manufacturing and operating lifelike robots that are used for entertainment or films, whereas robotics is the process of designing, constructing, and operating robots. Robots offer enhanced services such as data collection for understanding customer behavior, personalized services, and improved in-store services, and enhanced logistics and delivery of goods. Furthermore, the growing adoption of robots by prominent retail chains such as Walmart is expected to drive the growth of the market. For example, in January 2020, Walmart introduced its robot named Alphabot. The system can pick and pack orders 10 times faster than human packs. The increasing competition in the retail industry is encouraging large enterprises such as Amazon, Walmart, and Kroger to invest in smart technologies such as robots to understand customer behavior, offer enhanced shopping experience, ensure better inventory management, and reduce logistics and delivery time. Therefore, the growing adoption of robots and animatronics to provide enhanced shopping experience to customers is driving the growth of the MEA smart retail devices market.

Key Market Segments

The MEA market for smart retail devices is segmented into technology, application, and country. Based on technology, the MEA smart retail devices market is divided into digital signage, smart labels, smart payments, smart carts, and others. Smart payments segment is projected to be the fastest growing segment over the forecast period. On basis of application, the market is segmented into predictive equipment maintenance, inventory management, smart fitting room, foot traffic monitoring, and others. Further, in 2019, predictive equipment maintenance led the MEA smart retail devices market.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the smart retail devices market in MEA are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Intel Corporation; LG Electronics; NVIDIA CORPORATION; Panasonic Corporation; Samsung Group; Zebra Technologies Corporation.

Reasons to buy report

• To understand the MEA smart retail devices market landscape and identify market segments that are most likely to guarantee a strong return.
• Stay ahead of the race by comprehending the ever-changing competitive landscape for MEA smart retail devices market.
• Efficiently plan M&A and partnership deals in MEA smart retail devices market by identifying market segments with the most promising probable sales.
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form MEA smart retail devices market.
• Obtain market revenue forecast for market by various segments from 2020-2027 in MEA region.

MEA Smart Retail Devices Market Segmentation

MEA Smart Retail Devices Market

By Technology

• Digital Signage
• Smart Labels
• Smart Payments
• Smart Carts
• Others

MEA Smart Retail Devices Market

By Application

• Predictive Equipment Maintenance
• Inventory Management
• Smart Fitting Room
• Foot Traffic Monitoring
• Others

MEA Smart Retail Devices Market

By Country

• South Africa
• Saudi Arabia
• UAE
• Rest of MEA  

MEA Smart Retail Devices Market - Company Profiles

• Intel Corporation
• LG Electronics
• Nvidia Corporation
• Panasonic Corporation
• Samsung Group
• Zebra Technologies Corporation