North America Smart Retail Devices Market
No. of Pages: 122 | Report Code: TIPRE00020995 | Category: Electronics and Semiconductor
No. of Pages: 122 | Report Code: TIPRE00020995 | Category: Electronics and Semiconductor
The mounting penetration of wireless technologies across mobile printers and the emerging application of barcode and RFID printers across several industries are the key driving factors for the smart retail devices market. The escalating demand of omnichannel retailing is offering various advantages to the overall smart retail devices market. These devices offer various benefits, such as efficient product allocation, increased inventory management, and real-time inventory visibility. The boosting urbanization is improving the potential for several brands' reach, and the users can have enhanced access to the authentic brands. The retail and e-commerce industry presents a huge platform for shopping, which is rising at an unprecedented rate. The consumers of all age groups prefer online shopping, owing to the presence of considerable number of websites and apps to choose products. The smart retail and transportation & logistics platforms also provide various businesses an easier reach for customers, and hence necessary exposure to business is achieved. Also rising need for smart transportation is a major factor driving the North America smart retail devices market.
Among the MEA countries, Iran has recorded the highest number of COVID-19 confirmed cases. Other major countries that are facing the economic impact of COVID-19 include Turkey, Saudi Arabia, UAE, Egypt, Morocco, and Kuwait. The region comprises many growing economies, which are prospective markets for retail execution software providers, owing to the huge presence of diverse customer base for the retail & e-commerce industry.
Strategic insights for the North America 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.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 5,838.00 Million |
| Market Size by 2027 | US$ 8,842.87 Million |
| Global CAGR (2020 - 2027) | 5.8% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America 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 North America is expected to grow from US$ 5,838.00 million in 2019 to US$ 8,842.87 million by 2027; it is estimated to grow at a CAGR of 5.8% from 2020 to 2027. The constant increase in the conversion ratio enhances the average transaction value and maximize the number of items per transaction. Despite the rapid growth of brick-and-mortar stores, retail and e-commerce industry continue to be the focal touch point for customers, remain at the forefront of shaping product, and brand perceptions. With the adoption of smart technologies such as AI, IoT, Big Data solutions in the overall retail, transportation and logistics industries, the efficiency of distribution and production networks can be improved. The technology allows tracking the entire process of the transportation of supplies. With real-time insights, customers can track their purchase orders on their devices and thus can check the delivery status. The integration of smart retail devices helps in tracking and evaluating the performance of delivery agents.
The North America market for smart retail devices is segmented into technology, application, and country. Based on technology, the North America 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 North America smart retail devices market.
A few major primary and secondary sources referred to for preparing this report on the smart retail devices market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Caper Inc.; Diebold Nixdorf, Incorporated; Intel Corporation; LG Electronics; Nvidia Corporation; Panasonic Corporation; PAX Global Technology Limited; Samsung Group; SoftBank Robotics; and Zebra Technologies Corporation.
The North America Smart Retail Devices Market is valued at US$ 5,838.00 Million in 2019, it is projected to reach US$ 8,842.87 Million by 2027.
As per our report North America Smart Retail Devices Market, the market size is valued at US$ 5,838.00 Million in 2019, projecting it to reach US$ 8,842.87 Million by 2027. This translates to a CAGR of approximately 5.8% during the forecast period.
The North America Smart Retail Devices Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Smart Retail Devices Market report:
The North America Smart Retail Devices Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Smart Retail Devices Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Smart Retail Devices Market value chain can benefit from the information contained in a comprehensive market report.
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