Get Our Email Newsletter

Worldwide Smart Retail Industry Expected to Reach $51.48B by 2026

The global smart retail market is estimated to be $23.47 billion in 2021 and is expected to reach $51.48 billion by 2026, growing at a CAGR of 17.01 percent, according to the new Global Smart Retail Market Report from ResearchandMarkets.com.

The market is growing thanks to retailers’ increasing use of automation and robots to offer shopping convenience to their customers, the report continues. The deployment of robots in supermarkets and hypermarkets helps identify product finding process. The rising adoption of new software technologies such as big data analytics, blockchain, machine learning, etc. by retailers helps facilitate inventory management and improve store operations, which will drive the market’s growth.

Increasing shoplifting instances will always be a challenge and negatively affect the market’s growth, the report notes. However, the growing number of conversions into smart stores leads to self-delivery vehicles. The rising use of technologies such as innovative sensors to improve connectivity availability of communication solutions in connecting with end users to offer after-sale services or provide customer feedback by the retailers will create opportunities for the market.

- Digital Partner -

Find the full report here.

Loss Prevention Magazine updates delivered to your inbox

Get the free daily newsletter read by thousands of loss prevention professionals, security, and retail management from the store level to the c-suite.

What's New

Digital Partners

Become a Digital Partner

Violence in the Workplace

Download this 34-page special report from Loss Prevention Magazine about types and frequency of violent incidents, impacts on employees and customers, effectiveness of tools and training, and much more.

Webinars

View All | Sponsor a Webinar

Whitepapers

View All | Submit a Whitepaper

LP Solutions

View All | Submit Your Content

Loss Prevention Media Logo

Stay up-to-date with our free email newsletter

The trusted newsletter for loss prevention professionals, security and retail management. Get the latest news, best practices, technology updates, management tips, career opportunities and more.

No, thank you.

View our privacy policy.