The technological advancements across North America have led to a highly competitive market. North America attracts several technological developments from economically robust countries. The companies in the region are continuously enhancing the overall business processes to meet customers’ demand for high-quality products and services in the best possible way. Presence of leading enterprises, such as Intel Corporation, Samsung Group, and Zebra Technologies Corporation in the region, large presence of early technology adopters in the region, and extended adoption of smart connected devices in the US are among the factors anticipated to boost the smart retail devices market growth. For instance, Softbank Robotics developed a new robot named Pepper for the retail industry, which communicates with customers to provide required information. In January 2019, the US grocery giant Kroger formed a partnership with Microsoft to upgrade stores with smart retail solutions. These stores are getting equipped with the Enhanced Display for Grocery Environment (EDGE) shelf, which can indicate promotions, nutritional information, and price to customers. The massive adoption of advanced digital payment solutions and the increasing popularity of self-checkout payments systems will support market growth. Furthermore, small retail store in the region is migrating from traditional cash payments to cashless or card payments to offer seamless shopping experience. The increasing number of smart retail solution provider companies in the region is further projected to fuel the market growth during the forecast period. Nevertheless, lowering cost of smart retail devices and improved store management, consequently increasing the market share of smart retail devices.
Intel Corporation, Samsung Group, Zebra Technologies Corporation, Panasonic Corporation, and PAX Global Technology Limited – PROMINENT MARKET PARTICIPANTS IN SMART RETAIL DEVICES MARKET
The global smart retail devices market is segmented on the basis of technology, application, and geography. The market, based on technology, is segmented into digital signage, smart labels, smart payments, smart carts, and others. In terms of application, the market is segmented into predictive equipment maintenance, inventory management, smart fitting room, foot traffic monitoring, and others. The smart retail devices market, by region, is segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM). The current market is dominated by several small & medium market players in the regional market; however, the global market does comprise selected number of prominent market players. Few of the important market initiatives and contracts developments from the market are mentioned below:
|
Year |
News |
Country |
|
2021 |
Zebra technologies expands in APAC with advanced headquarter facility |
APAC |
|
2020 |
The Samsung company introduced new products such as mobile devices, behavior-sensing technologies, and display solutions for the retail industry |
North America |
|
2020 |
Diebold Nixdorf extended the partnership with Co-op Group to deploy self-service and point-of-sale (POS) systems throughout the U.K. |
Europe |
