The smart shopping cart global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Smart Shopping Cart Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The smart shopping cart market size has grown exponentially in recent years. It will grow from $1.33 billion in 2023 to $1.72 billion in 2024 at a compound annual growth rate (CAGR) of 28.7%. The growth in the historic period can be attributed to retail efficiency improvement, consumer convenience, contactless payments, enhanced security measures, competitive differentiation.
The smart shopping cart market size is expected to see exponential growth in the next few years. It will grow to $4.32 billion in 2028 at a compound annual growth rate (CAGR) of 25.9%. The growth in the forecast period can be attributed to integration with AI and machine learning, rise of autonomous stores, global pandemic impact, sustainability focus, expansion of e-commerce integration. Major trends in the forecast period include technological advancements, data analytics integration, autonomous store development, smart cities initiatives, augmented reality (AR) features.
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Scope Of Smart Shopping Cart Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Smart Shopping Cart Market Overview
Market Drivers –
The increasing retail sector is expected to propel the growth of the smart shopping cart market going forward. The retail sector refers to a segment of the economy where businesses sell goods or services directly to consumers. The rector sector growth is influenced by various factors, including changing consumer behavior, increased internet shopping, and challenging economic conditions. Smart shopping carts are primarily used in the retail sector to improve the shopping experience for customers, increase efficiency for retailers, and create a more modern, efficient, and customer-centric shopping environment. For instance, in March 2023, according to reports published by the National Retail Federation, a US-based retail trade association, US annual retail sales increased to $5.23 trillion in 2023 from $4.94 trillion in 2022, and it is anticipated that retail sales will expand between 4% and 6% in 2023. Therefore, the increasing retail sector is driving the growth of the smart shopping cart market.
Market Trends –
Major companies operating in the smart shopping cart market are focusing on technologically advanced products, such as shopping carts, to deliver a personalized in-store shopping experience. Smart shopping carts are innovative shopping trolleys embedded with technology to enhance the grocery experience. They are equipped with various sensors, such as cameras, weight scales, and barcode scanners, allowing them to detect the items customers pick and display the price on a screen. For instance, in May 2022, Albertsons Companies Inc., a US-based grocery company, launched the smart shopping carts in partnership with Veeve Inc., a US-based company that focuses on shopper engagement in the retail sector. These innovatively powered shopping carts allow shoppers to scan items directly in the cart, weigh produce, and keep track of the total cost in real time. They also integrate with loyalty accounts, providing access to promotions and savings while shopping. The goal of these AI-powered carts is to increase personalization, with the potential to recognize shopping habits and recommend products or recipes. Additionally, they aim to streamline the checkout process.
The smart shopping cart market covered in this report is segmented –
1) By Component: Wheels, Handles, Bags, Frames, Scanner, Display, Other Components
2) By Technology: Barcodes, Radio-Frequency Identification (RFID), Zigbee
3) By Mode Of Sales: Direct, Distributor
4) By Application: Supermarket, Shopping Malls, Other Applications
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Regional Insights –
North America was the largest region in the smart shopping cart market in 2023. The regions covered in the smart shopping cart market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the smart shopping cart market are Walmart Inc., Amazon.com Inc., Microsoft , Mitsui And Co. Ltd., Panasonic, International Business Machines Corporation, Oracle Corporation, SAP SE, Fujitsu Limited, SK Telecom Co. Ltd., Check Point Software Technologies, Veeve Systems, Toshiba Global Commerce Solutions Inc., Carttronics LLC, Zippin Inc., Focal Systems Inc., Mashgin Inc., Nourish Technology, Inc., Imagr Ltd., Wheelys Café AB, Pentland Firth Software GmbH, Grabango Co., SuperSmart, Sensei Technologies Inc., Standard Cognition Corporation
Table of Contents
1. Executive Summary
2. Smart Shopping Cart Market Report Structure
3. Smart Shopping Cart Market Trends And Strategies
4. Smart Shopping Cart Market – Macro Economic Scenario
5. Smart Shopping Cart Market Size And Growth
…..
27. Smart Shopping Cart Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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