Market Introduction
The SAM smart retail devices market is categorized into Brazil, Argentina, and the rest of SAM. There is a mixed growth scenario in the region, with a few countries having complex macroeconomic and political environments. Developing economies such as Brazil, Argentina, Chile, and Peru make significant investments in infrastructure and retail sector development. Moreover, many retailers in these regions have started digital transformations to help them become more competitive and to adapt benefit from the change. Colombia and Brazil are rapidly evolving into a digital innovation, with Chile ranked among the highest in digitization and innovation, considered a 'standout' country. This digital transformation will provide new opportunities for the smart retail devices market across the region. Rising urbanization has resulted in the growth of various shopping complexes and recreation centers, which is expected to boost the demand for smart retail devices in the region. However, the demand from small-sized retailers is still expected to be very low owing to low financial capabilities. Increasing focus by market players toward the SAM market can accelerate the adoption of smart retail devices. For instance, in December 2020, Tuya Smart expanded its business in Brazil and other Latin American countries by forming a partnership with Nexxt Solutions and Tecnolite Connect to introduce streamline connectivity solutions and smart devices for the market. The company offers smart retail solutions for better store management. Also, Walmart with 345 stores distributed across Chile is introducing Geek+ robot in their smart store for effective warehouse management. Such adoption of new technologies is supplementing the growth of the 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.
Market Overview and Dynamics
The smart retail devices market in SAM is expected to grow from US$ 1,832.20 million in 2019 to US$ 2,669.20 million by 2027; it is estimated to grow at a CAGR of 5.3% from 2020 to 2027. Several nationalized banks across the SAM are leveraging and investing robustly on the deployment of various new technologies for attaining enhanced efficiency and providing better customer experience. Several banks in APAC have started experimenting with the blockchain technology in the process of customer on-boarding. This technology is cryptographically secured and is used to modify the database with each transaction on the network. The technology helps financial institutions gather data from authoritative service providers that permit them to ease the KYC (i.e., know-your-customer) process. A few of the banks have already started using a prototype of Blockchain-based KYC solutions. Furthermore, the retail and e-commerce are exploring the blockchain technology that helps in resolving the real-world issues for retail businesses. The deployment of blockchain technology in retail provides several benefits, including faster transactions, increased transparency, reduced costs, and improved security.
Key Market Segments
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, and others. Smart payments 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, and others. Further, in 2019, predictive equipment maintenance led the SAM smart retail devices market.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the smart retail devices market in SAM are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Diebold Nixdorf, Incorporated; Intel Corporation; LG Electronics; Nvidia Corporation; Panasonic Corporation; PAX Global Technology Limited; Samsung Group; SoftBank Robotics; Zebra Technologies Corporation.
Reasons to buy report
SAM Smart Retail Devices Market Segmentation
SAM Smart Retail Devices Market - By Technology
SAM Smart Retail Devices Market - By Application
SAM Smart Retail Devices Market - By Country
SAM Smart Retail Devices Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 1,832.20 Million |
| Market Size by 2027 | US$ 2,669.20 Million |
| CAGR (2020 - 2027) | 5.3% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Smart Retail Devices Market is valued at US$ 1,832.20 Million in 2019, it is projected to reach US$ 2,669.20 Million by 2027.
As per our report South America Smart Retail Devices Market, the market size is valued at US$ 1,832.20 Million in 2019, projecting it to reach US$ 2,669.20 Million by 2027. This translates to a CAGR of approximately 5.3% during the forecast period.
The South America Smart Retail Devices Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Smart Retail Devices Market report:
The South America Smart Retail Devices Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Smart Retail Devices Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Smart Retail Devices Market value chain can benefit from the information contained in a comprehensive market report.
Please tell us your area of interest
(Market Segments/ Regions and Countries/ Companies)
E 1803, Panchshil Towers,
Wagholi, Haveli,
Pune - 412207,
Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For South America Smart Retail Devices Market
