Smart Retail Market Expected to Reach USD 179.45B by 2032, Growing at 22.06% CAGR

Smart Retail Market size is expected to reach USD 179.45 billion by 2032. The industry is undergoing a transformation driven by increasing demand for durable, high-performance industrial components across various sectors.

Market to Hit USD 179.45 Bn by 2032

The Smart Retail Market size was valued at USD 179.45 Billion in 2023 and the total Smart Retail Market revenue is expected to grow at a CAGR of 22.06% from 2025 to 2032, reaching nearly USD 36.42 Billion. In 2024, Smart Retail Market Size was valued at approximately USD 28.5 billion in North America and its Market share of 38%. Also, in Europe held a market share of 26% in the same year, equating to revenues of USD 36.42 billion in 2024.

Smart Retail Market Dynamics

Smart Retail, a widely consumed beverage, holds a significant market share in North America, with 71% of U.S. consumers drinking it daily. In Europe, its popularity grows with single-serve options. Global exports increased 2.6% from 2019-2020, and rising health awareness and urbanization drive consumption, especially in Southeast Asia.

Leading market Players Fueling Industry Evolution

IBM – United States, Intel Corporation – United States and Cisco Systems Inc. – United States are key players in the Smart Retail Market. These companies contribute through advanced technologies like AI, IoT, cloud computing, and networking solutions, enabling retailers to enhance customer experience, optimize operations, and drive digital transformation across retail environments.

Curious about market analysis? The research report summary offers valuable insights: https://www.maximizemarketresearch.com/request-sample/24096/ 

Visual Marketing is dominated by Application segment in terms of value, in 2023

This Visual Marketing dominates the Smart Retail Market which the segment is holding 35% of market share in 2023. Visual marketing is a cornerstone in driving the advancement of the smart retail market. its ability to leverage emerging technologies like AI, AR, and digital signage to enhance customer engagement, personalize experiences, and drive measurable results.

Software is dominated by Solution segment in terms of value, in 2023

This Software dominates the Smart Retail Market which the segment is holding 56% of market share in 2023. it offers comprehensive, end-to-end platforms that integrate CRM, automation, analytics, and content management.

North America is estimated to be the largest dominating region in terms of value, during the forecast period

This is the largest region in Smart Retail Market which the valued at approximately USD 28.5 billion in North America and its Market share of 38% in 2024. It leads due to its advanced technological infrastructure, high consumer demand for personalized shopping, strong retail ecosystem, and significant investments in AI, automation, and IoT.

Europe is estimated to be the Second-largest dominating region in terms of value, during the forecast period

This is the Secon-largest region in Smart Retail Market which the valued at approximately USD 22.2 billion in Europe and its Market share of 26% in 2024. It leads the second largest region due to its strong technological adoption, well-established retail infrastructure, growing demand for personalized shopping experiences, and focus on sustainability.

Smart Retail Market Competitive Landscape

IBM (United States): IBM’s technologies help retailers boost customer experiences, optimize operations, and streamline supply chains. IBM has formed various strategic partnerships with retailers like Walgreens and L’Oreal, helping them implement smart retail technologies. In 2024, this company brought USD 62.8 billion in revenue.

Intel Corporation (United States): Intel’s edge computing solutions enable real-time processing of data from smart devices in retail stores, reducing latency and improving decision-making speed. In 2024, this company brought USD 53.1 billion in revenue. Also, Intel partnered with Microsoft to offer solutions for smart retail experiences, combining cloud and edge computing for seamless, real-time data processing in stores.

Cisco Systems Inc. (United States): In 2024, this company’s sales reached USD 54.2 billion. The company collaborates with a variety of smart retail providers to provide connected solutions that enhance the customer journey via smart Wi-Fi networks, real-time customer analytics, and safe transactions.

Emerging Trends in the Smart Retail Market

• In 2024, IBM, Intel, and Cisco are driving key emerging trends in the Smart Retail Market. IBM is enhancing AI-powered personalized shopping experiences and expanding its cloud-based solutions for inventory management and customer service automation.
• Intel is advancing edge computing and 5G integration to support real-time data processing and IoT-based innovations in retail.
• Cisco is focusing on advanced networking solutions and secure IoT frameworks to enable connected retail environments with real-time insights and data protection.

Conclusion

• The Smart Retail Market is set for substantial growth, reaching USD 120.46 billion by 2032, driven by advancements in AI, IoT, cloud computing, and automation.
• North America and Europe lead in market share, with key players like IBM, Intel, and Cisco driving innovation.
• The adoption of visual marketing and software solutions plays a crucial role in enhancing customer experiences and retail operations globally.

Discover What’s Trending:

Retail E-Commerce Market Size was valued at USD 6.67 Trillion in 2024 and the total Retail E-Commerce revenue is expected to grow at a CAGR of 9.6% from 2025 to 2032, reaching nearly USD 13.89 Trillion.

Retail Banking Market Size was valued at USD 1.88 Bn in 2022 and is expected to reach USD 2.77 Bn by 2029, at a CAGR of 5.7 %.

About Us: