What is Smart Stores?
Smart store means a brick-and-mortar retail establishment using smart technologies solutions. In recent times, many Omni channel retailers are moving towards the adoption of advanced technologies to enhance the productivity of store space & inventory and to attract more customers to their stores. These technologies offers various benefits like inventory tracking, AR/VR for trying up cloths, smart payments, and many more. However, these advanced technologies also help consumers to find their stuff faster and easier, which will further fuel the growth for the smart stores market.
The market study is broken down and major geographies with country level break-up.
The key manufacturers are targeting the innovations of the products with better quality, better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market. Analysts at AMA Research estimates that Players from United States will contribute to the maximum growth of Global Smart Stores market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Intel Corporation (United States), Amazon Web Services, Inc. (United States), Tuya (China), NXP Semiconductors (Netherlands), Samsung Electronics (South Korea), Cisco Systems (United States), Fujitsu Global (Japan), Huawei (China), IBM (United States) and Innova (Turkey) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global Smart Stores market by Type, Application and Region.
On the basis of geography, the market of Smart Stores has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Extended Reality will boost the Smart Stores market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. Cloud will boost the Smart Stores market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-user, the sub-segment i.e. Supermarkets will boost the Smart Stores market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Hardware will boost the Smart Stores market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In June 2020, Amazon, the US-based e-commerce giant launched smart stores in India. Amazon is providing physical stores with software to maintain a digital log of the inventory they have in the shop, and supplying them with a QR code. The consumers can walk to the store and scan QR code with the Amazon app. With this consumers can see everything the shop has to offer including any discounts and past reviews from customers.
- Increasing Use of AR & VR for Virtually Trying Products is Gaining Much Popularity
- Increasing Demand for Technological Solutions to Offer Immersive Shopping Experience, Build Brand Recall and Customer Loyalty
- The Consumers’ Inclination towards the Shopping from Retailer Stores that Use Automation Technology
- Emerging Leisure Retail Stores in Urban and Metropolitan Regions
- Slow Adoption of Smart Technologies in Developing and Underdeveloped Countries
- Challenges Associated with Card Scanning Technologies
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Smart Stores Software Providers, Smart Store Hardware Manufacturers, Suppliers & Distributors of Smart Store Hardware, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-users and Others
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
Frequently Asked Questions (FAQ):
1. What all players are profiled in the study?
The standard version of the report profiles players such as Intel Corporation (United States), Amazon Web Services, Inc. (United States), Tuya (China), NXP Semiconductors (Netherlands), Samsung Electronics (South Korea), Cisco Systems (United States), Fujitsu Global (Japan), Huawei (China), IBM (United States) and Innova (Turkey) etc.
2. Can we have customized study for Smart Stores Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. What would be the Market Size of Smart Stores Market by 2026?
Analysts at AMA estimates Smart Stores Market to reach USD Million by 2026.