DUBLIN--(BUSINESS WIRE)--The "Smart Retail Market by Application (Visual Marketing, Smart Label, Smart Payment System, Intelligent System (Intelligent Vending Machine, Smart Cart, AR/VR, Interactive Kiosk), Robotics, Analytics), and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The smart retail market is projected to reach USD 38.51 billion by 2023 from USD 13.07 billion in 2018, at a CAGR of 24.12%.
Growth in this market can largely be attributed to factors such as the increasing adoption of smartphones, growing need for better customer service and shopping experience, decreasing cost of electronic components, and emerging new technologies create new revenues for retailers.
However, data security and privacy concerns with new advanced technologies are expected to restrict the growth of the said market to a certain extent.
Market for direct-view fine-pixel LED in digital signage to register highest growth during forecast period
The smart retail market for direct-view fine-pixel led in digital signage is expected to grow at fastest CAGR. The increasing innovation in direct-view fine-pixel LED displays and their technological advantages are driving the growth of the large format display (LFD) market.
The market is also driven by factors such as growing availability of highly bright HD LFDs offering better stability, flexibility, sustainability, and environment resistance; rising demand for brighter and power-efficient LFDs in several applications; and increasing applications for digital signage.
Market for machine learning in artificial intelligence for smart retail technology to hold largest share during forecast period
The market for machine learning technology in artificial intelligent is expected to hold the largest a market during the forecast period. Machine learning enables systems to automatically improve their performance with experience. This aims to develop a computer program/algorithm that can access data and use it to train itself with no human intervention.
Machine learning is expected to account for the largest market share throughout the forecast period. This is attributed to the enormous availability of data, also called big data, and increasing adoption of machine learning by enterprises and federal agencies to gain useful insights.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Smart Retail Market, by Application
7 Geographic Analysis
8 Competitive Landscape
9 Company Profiles
- Samsung Electronics
- Cisco System
- NXP Semiconductors
For more information about this report visit https://www.researchandmarkets.com/research/zkqr9m/smart_retail?w=4