South America Smart Retail Devices Market is expected to reach US$ 2,669.20 million by 2027

Others Segment is Expected to be Fastest Growing During the Forecast Period for SAM Region

According to a new market research study on “SAM Smart Retail Devices Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Technology and Application” is expected to reach US$ 2,669.20 million by 2027 from US$ 1,832.20 million in 2019. The market is estimated to grow at a CAGR of 5.3% from 2020 to 2027. The report provides trends prevailing in the SAM smart retail devices market along with the drivers and restraints pertaining to the market growth. Increasing adoption of smart transportation is the major factor driving the growth of the SAM smart retail devices market. However, issues associated with high spending on operation and maintenance of smart retail devices hinders the growth of SAM smart retail devices market.   

The SAM market for smart retail devices is segmented into technology, application, and country. Based on technology the SAM smart retail devices market is divided into digital signage, smart labels, smart payments, smart carts, others. The others segment is projected to be the fastest growing segment over the forecast period. On basis of application, the market is segmented into predictive equipment maintenance, inventory management, smart fitting room, foot traffic monitoring, others. Further, in 2019, predictive equipment maintenance led the SAM smart retail devices market.

In the SAM, Brazil has the highest number of COVID-19 confirmed cases, followed by other countries such as Ecuador, Peru, Chile, and Argentina. The governments of various countries in SAM are taking several initiatives to protect people and control COVID-19's spread in the region through lockdowns, trade bans, and travel restrictions. These measures are expected to affect the region's economic growth as the region directly will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to major trading partners such as China, Europe, and North America. The sharp decline in the manufacturing, and the retail industry in the region due to lockdown, measures are expected to directly impact the growth of the smart retail devices market in this region. In addition to this, the retail distribution channels will also face a negative impact due to supply chain disruptions and the non-availability of raw materials. The sharp decline in business activities and product sales are expected to directly affect the smart retail devices market's growth rate in this region for the next three to four quarters.  

Diebold Nixdorf, Incorporated; Intel Corporation; LG Electronics; Nvidia Corporation; Panasonic Corporation; PAX Global Technology Limited; Samsung Group; SoftBank Robotics; Zebra Technologies Corporation are among the leading companies in the SAM smart retail devices market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Diebold Nixdorf launched new self-service kiosk series, DN SeriesTM EASY.

The report segments the SAM Smart Retail Devices Market follows:

SAM Smart Retail Devices Market – By Technology

• Digital Signage
• Smart Labels
• Smart Payments
• Smart Carts
• Others

SAM Smart Retail Devices Market – By Application

• Predictive Equipment Maintenance
• Inventory Management
• Smart Fitting Room
• Foot Traffic Monitoring
• Others

SAM Smart Retail devices Market – By Country

• Brazil
• Argentina
• Rest of SAM