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Smart Retail Market Value

The global smart retail market is expected to witness a CAGR of 24.7% during the forecast period. The smart retail market is using various innovative technologies to capitalize on the potential of the industry. Smart devices and IoT in retail help retailers improve the customer experience and drive greater consumer engagement which will substantially affect the day-to-day store operations.

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Smart Retail Market Value

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  1. Global Smart Retail Market

  2. About VynZ Research… • VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. • VynZ Research has one of the most qualified & experienced analysts, who are constantly tracking the markets and the technologies. The research team has years of proven experience and wide knowledge & understanding of the technology, application, business models, and regulators of the segments and the value chain involved. • A trusted & proven methodology that involves highest quality of primary research, secondary analysis collated & verified through various sources including cross checking with different industry experts. • Serving wide range of customers most of them from Fortune 2000 companies • With a dedicated 24x7 customer helpline our customers can reach for specifying their needs • Developing long term relationship with the clients and satisfying them is one of the crucial notches of the company. VynZ Research aims at gaining and retaining its clients in order to make long term customer relationship.

  3. Global Smart Retail Market The global smart retail market size is anticipated to grow from USD 20.4 billion in 2019 to USD 63.5 billion by 2027, growing at a CAGR of 24.7%. One of the key trends in increasing market growth is the integration of technologies such as augmented reality, virtual reality, artificial intelligence, and IoT to enhance store operations, promote precise inventory management, and boost customers' shopping experience. These sophisticated retail technologies allow brick-and-mortar retailers to compete against online retailers, reclaim lost market share, bring more customers to the store, and increase customer retention. Major retailers such as Alibaba, Walmart, and Amazon are increasingly introducing smart retail technologies to improve business processes and support their customers. Physical distributors gather client data and analyze customer behaviour to personalize their shopping experience. Retailers are using mPOS, beacons, and NFC technologies to greet customers by their name as well as to provide them with relevant information.

  4. Global Smart Retail Market Advanced technologies offer the potential to attain a variety of business goals, including supplier management, customer value, and optimized revenue generation. AI and ML can offer retailers intelligent insights that can enhance sales along with the customer experience. The features offered by AI, big data analytics, and machine learning are anticipated to drive market growth. The ability to track data from customer contracts with online channels will enhance e-commerce strategies. Further AI optimizes the supply chain, improves product development, and corrects inventory distortion. Therefore an intelligent AI-based retail platform is expected to drive this market growth in the coming years. Retailers can use machine learning and data analytics to analyze the data, and draw insights about quantity, sales, and price to reach the target customers, thus the analytics help retailers to effectively manage the transportation and supply chain components.

  5. Global Smart Retail Market The retail industry has undergone a digital transformation during this COVID-19 pandemic. Many of the market players have started offering solutions for efficient product supply, intelligent in-store supply, financial forecasting, and customer demand forecasting, therefore the global market is estimated to showcase an average growth rate during the pandemic. Some of the key players in the smart retail market are INTEL CORPORATION, IBM, Samsung Electronics, AMAZON, Google, Inc, MICROSOFT CORPORATION, SOFTBANK ROBOTICS HOLDINGS, Ingenico S.A., Verifone Systems, NCR Corporation, Cisco Systems, Inc., NXP Semiconductors N.V., Huawei Investment & Holding Co., Ltd, NVIDIA Corporation, Samsung Electronics, PTC, Inc., Trigo, Standard Cognition, Caper Inc., Zippin, Walmart Inc., Alibaba Group Holding Limited, and Albert Heijn BV (Ahold Delhaize).

  6. For Sample Report :- https://www.vynzresearch.com/semiconductor-electronics/smart-retail-market/request-sample www.vynzresearch.com

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