PUBLISHER: Orion Market Research | PRODUCT CODE: 1749607
PUBLISHER: Orion Market Research | PRODUCT CODE: 1749607
Global Advanced Shopping Technology Market Size, Share & Trends Analysis Report Market by Technology (Beacons, Virtual Reality, Smart Shelves, Retail Apps, Social Media, and Showrooming), and by Application (Retail, Commercial Advertising, and Warehouse), Forecast Period (2025-2035)
Advanced shopping technology market is expected to grow at a considerable CAGR of 12.3% during the forecast period (2025-2035). The market growth is attributed to advancements in technology, the logistical and delivery aspects of the shopping experience are changing, as are quick delivery options, which have grown ubiquitous for most companies. The growing incorporation of AI across various online sites, mobile, and in-store channels contributes to the growth. The need for online shopping platforms drives the market for advanced shopping technology. Amazon, for one, is known to be innovative, and it uses AI-driven Alexa to interpret customer demand and provide customized product suggestions.
The global advanced shopping technology market is segmented based on technology and operation. Grounded on technology, the market is segmented into lights, virtual reality, smart shelves, retail apps, social media, and showrooming. Grounded on operation, the market is sub-segmented into retail, marketable advertising, and storehouse. Then, the market trends include the increased frequency of smart bias, e-commerce, and acclimatized copping gestures. As a result, shops are increasingly using advanced shopping technologies, such as lights, virtual reality, and smart shelves, to ameliorate the consumer experience and increase deals.
The virtual reality sub-segment is also expected to be accountable for much of the global advanced retail technology market. The growth of the segment is attributed to the increasing popularity of VR-driven immersive shopping experiences, where customers can shop in virtual stores, try products in 3D, and participate in interactive brand experiences from the convenience of their own homes. Retailers are leveraging virtual reality technology to enhance customer interaction, reduce return rates, and offer a very personalized shopping experience.
The global advanced shopping technology market is further segmented by geography, including North America (the United States and Canada), Europe (Italy, Spain, Germany, France, Russia, and others), Asia-Pacific (India, China, Japan, South Korea, Australia & New Zealand, and ASEAN Countries), and the Rest of the World. Asia-Pacific is expected to have a significant part of the global market, with countries such as China, Korea, and Japan leading the way in smart device production.
North America Region Dominates the Market with Major Share
North America is witnessing rapid expansion, followed by the region's high smartphone penetration and ubiquitous internet connectivity. Consumers' growing reliance on mobile devices has increased demand for mobile shopping apps, virtual reality (VR) experiences, and augmented reality (AR) solutions. Furthermore, the growing shift toward contactless and online purchasing encourages merchants to develop innovative solutions to satisfy shifting consumer demands. In addition, increased consumer expectations for personalized, frictionless, and convenient shopping experiences have prompted retailers to embrace artificial intelligence (AI), data analytics, and machine learning (ML) to provide tailored recommendations and improve customer engagement.
The Asia-Pacific area is also experiencing expansion in the business, fueled by the region's growing middle-class population and rapid urbanization. As a result, merchants are investing in modern technology such as mobile apps, virtual reality, and artificial intelligence to meet consumers' diverse and developing needs. Furthermore, the increasing adoption of smartphones and internet access in countries around the region has created an environment conducive to mobile commerce. This has pushed merchants to create user-friendly mobile applications and mobile payment systems to improve ease and accessibility. Furthermore, the growing popularity of e-commerce platforms, that require the integration of innovative technologies to give a seamless and personalized shopping experience, is increasing the advanced shopping technology market share.
The major companies serving the global advanced shopping technology market include Accent Systems, Banner Engineering Corp., Blueup Beacons, CardTec, Custer Products, and Daisy Data Displays, Inc., among others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, and new product launches, to stay competitive in the market.
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