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Smart retail refers to the hybridization between traditional shopping methods and modern “smart” technologies. Through the Internet of Things, data is accumulated by way of communication between implanted devices and computers. As a result, consumers may enjoy a more personalized, faster, and smarter experience.

 

Amazon, Alibaba, SES-imagotag, IBM Corporation, Shinsegae I&C, Google, SOLUM ESL, Pricer, Intel Corporation and NEC Corporation are the key manufactures in the global Smart Retail System market. Among them, Amazon is the largest manufacturer, its revenue share of global market exceeds 24% in 2021.

 

Benefitted from fast internet development, global smart retails also grows fast each year. The global sales of Smart Retail System increased from US$ 2865.86 Million in 2017 to US$ 7383.70 Million in 2021, at a CAGR of 26.69% from 2017 to 2021, and it is expected to reach US$ 35109.80 Million by the end of 2028, growing at a CAGR of 24.31% during 2022-2028. China Smart Retail System market size is valued at US$ 1112.52 million in 2021, while the North America and Europe Smart Retail System are US$ 2,491.36 million and US$ 1,864.94 million, severally.

 

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