Asia Pacific Smart Retail Market Analysis, Forecast | 2031
Asia Pacific Smart Retail Market Analysis, Forecast | 2031
Segments - Asia Pacific Smart Retail Market by Solutions (Software and Hardware), Applications (Smart Label, Intelligent System, Visual Marketing, Smart Payment System, and Others), and Geography (India, China, South Korea, Japan, and Rest of Asia Pacific) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
Upcoming
| Report ID :BFSI-3588
| 4.4 Rating
| 84 Reviews
| 170 Pages
| Format :
Report Description
The Asia pacific smart retail market size was valued at USD 7.52 billion in 2022 and is projected to reach USD 61.94 billion by 2031, expanding at a CAGR of 26.4% between 2023 and 2031. The growth of the market is attributed to rising need of better and faster shopping experience.
The term "smart retail" refers to the blending of old-style shopping methods with new "smart" technologies. Data is gathered through the Internet of Things as a result of connectivity between computers and implanted devices. As a result, customers may have access to a more tailored, faster, and intelligent experience.
The Pandemic have forced the governments around the world to impose lockdown and close down offices and schools and colleges. This has resulted, in companies implementing Work from home (WFH) policy. Also schools and colleges have been forced to continue education and regular classes by using online platforms.
The global online retail market has therefore seen a boom due to the pandemic, not only because of WFH policies which are adopted by companies, but also increasing use of internet and mobile telecommunication platforms for daily business operations and many more stay-at-home activities.
This has ultimately led to increased online transactions, and people prefer it more because of safety reasons. Most of the online e-commerce websites have also seen a huge growth during this pandemic.
Market Drivers, Restraints and Opportunities
-
Cost-effectiveness of internet and increased usage of internet, and electricity is expected to be one of the key driving factors for market.
-
Increasing usage of mobile wallets is anticipated to fuel the market.
-
Increased threat of cyber-attacks due to increased online transactions act as major factor restraining the market.
-
Increasing demand for online, fast, and efficient shopping services is expected to create lucrative opportunities the market players.
Scope of Asia Pacific Smart Retail Market Report
The report on the Asia Pacific smart retail market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes |
Details |
|
Report Title |
Smart Retail Market – Asia Pacific Industry Analysis, Growth, Share, Size, Trends, and Forecast |
|
Base Year |
2022 |
|
Historic Data |
2016–2021 |
|
Forecast Period |
2023–2031 |
|
Segmentation |
Solutions (Software and Hardware), Applications (Smart Label, Intelligent System, Visual Marketing, Smart Payment System, and Others) |
|
Geographical Scope |
India, China, Japan, and Rest of Asia Pacific |
|
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
|
Key Players Covered in the Report |
Amazon; Flipkart; Shopee; and AliBaba Express |
Asia Pacific Smart Retail Market Segment Insights
On the basis of solutions, the market is bifurcated into hardware and software. The hardware segment accounted for a major market share in 2019. It includes devices like RFID, Bluetooth beacon, AR & VR, and others utilized in the preparation of the smart retail solutions. The growing demand for these devices, to supply a seamless in-store searching expertise to customers, is driving the segment.
Besides, increasing technological advancement, in addition to the growing retail trade, particularly the e-commerce trade across countries like China, India, and Japan are also anticipated to fuel the market. The software segment is expected to expand at a high CAGR of 28.3% during the forecast period.
The growth of segment is attributed to increasing adoption, of predictive analytics software system by retailers, to know client behaviour and their specific needs to improve the searching experience and client engagement.
Based on application, the market is divided into visual marketing, smart labels, smart payment systems, intelligent system, and others. The visual marketing segment held major market share in 2019. Digital signage is in high demand to deliver a digital experience as well as an effective approach to connect with customers in physical stores.
In terms of geography, the market is classified as India, China, South Korea, Japan, and Rest of Asia Pacific. China is anticipated to dominate the market during forecast period. Regional market growth is attributed to increasing deployment of smart, reliable retail solutions across the brick-and-mortar stores and supermarkets within the countries.
Additionally, China and Japan have already started using robots for shopping guides, reception, intelligent dressing mirrors, logistics, and product shelf detection that work on technologies, like machine learning, pc vision, AR/VR, and natural language process.
Segments
The Asia Pacific smart retail market has been segmented on the basis of
Solution
- Hardware
- Software
Applications Outlook
- Visual Marketing
- Smart Label
- Smart Payment System
- Intelligent System
- Others
Country
- China
- Japan
- India
- Others
Key Players
Competitive Landscape
Key players competing in the advanced ceramics market includes Amazon; Flipkart; Shopee; and AliBaba Express. Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Retail Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Smart Retail Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Smart Retail Market - Supply Chain
4.5. Global Smart Retail Market Forecast
4.5.1. Smart Retail Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Smart Retail Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Smart Retail Market Absolute $ Opportunity
5. Global Smart Retail Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Smart Retail Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Smart Retail Demand Share Forecast, 2019-2026
6. North America Smart Retail Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Smart Retail Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Smart Retail Demand Share Forecast, 2019-2026
7. Latin America Smart Retail Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Smart Retail Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Smart Retail Demand Share Forecast, 2019-2026
8. Europe Smart Retail Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Smart Retail Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Smart Retail Demand Share Forecast, 2019-2026
9. Asia Pacific Smart Retail Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Smart Retail Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Smart Retail Demand Share Forecast, 2019-2026
10. Middle East & Africa Smart Retail Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Smart Retail Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Smart Retail Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Smart Retail Market: Market Share Analysis
11.2. Smart Retail Distributors and Customers
11.3. Smart Retail Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. Amazon Flipkart Shopee AliBaba Express
Methodology
Related Reports
Some other reports from this category!
Our Clients
