The latest market report published by Credence Research, Inc. “Global Smart Shopping Cart Market: Growth, Prospects, and Competitive Analysis, 2016 – 2030“. The global smart shopping cart market generated revenue of around USD 1425.2 million in 2022 and is anticipated to grow a CAGR of over 28.10% during the forecast period from 2018 to 2030 to reach around USD 8067.14 million in 2030.
The market for smart shopping carts is a rapidly growing industry that is expected to increase significantly. Consumers prefer to avoid direct contact with high-touch surfaces during the COVID-19 outbreak, which is one of the key drivers of the expansion of the smart shopping cart business. As a result, contactless payment options, such as those made feasible by smart shopping carts, are now substantially more in demand. Other factors driving the market for smart shopping carts include the rising demand for individualized shopping experiences, the increased use of contactless technologies, the escalating competition in the retail industry, technological advancements, and the expanding desire for efficiency and convenience.
The global smart shopping cart market is bifurcated into technology, mode of sales, application, and geography. Based on technology, the smart shopping cart market is categorized into bar codes, RFIDs, and ZigBee. Based on the mode of sales, the global market is segmented into direct and distributor. Based on application, the smart shopping cart market is categorized into shopping malls and supermarkets. Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
In 2022, North America was expected to occupy the largest smart shopping cart market share in revenue and sales due to the extensive usage of digital technologies and massive retail goliaths like Walmart, Target, and Amazon. To improve customer shopping experiences, increase productivity, and increase profitability, many retailers are investing a lot of money in smart shopping cart technology. Some key players in the US market for smart shopping carts are Amazon, Microsoft, IBM, Intel, and startup businesses like Caper and Veeve. These companies focus on developing cutting-edge products and services that can improve consumer shopping experiences while increasing retailers’ efficiency and profitability.
One of the main reasons why smart shopping carts are so popular is because they can help to save a lot of time. For example, if you know exactly what you want to buy, you can simply input this into the cart and it will take you straight to the relevant aisle. This is opposed to having to search around the store for what you need.
Another benefit of these carts is that they can help you to stay within your budget. This is because you can input your budget into the cart before you start shopping and it will only allow you to purchase items within this amount. This can be extremely helpful if you are trying to stick to a tight budget.
Why to Buy This Report-
- The report provides a qualitative and quantitative analysis of the global smart shopping cart by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2018-2021, base year- 2022, and forecast period 2023-2030.
- The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level.
- In-depth analysis of the global smart shopping cart segmentation based on technology, mode of sales, application, and regional integration.
- The global smart shopping cart report also includes analyzing the global, regional, and country levels, key market trends, significant players analysis, market growth strategies, and key application areas.
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