Asia Pacific Smart Retail Market Size & Outlook, 2023-2030
Asia Pacific smart retail market, 2018-2030 (US$M)
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Asia Pacific smart retail market highlights
- The Asia Pacific smart retail market generated a revenue of USD 10,041.8 million in 2023.
- The market is expected to grow at a CAGR of 30.7% from 2024 to 2030.
- In terms of segment, hardware was the largest revenue generating solution in 2023.
- Software is the most lucrative solution segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 10,041.8 million |
| Market revenue in 2030 | USD 65,323.9 million |
| Growth rate | 30.7% (CAGR from 2023 to 2030) |
| Largest segment | Hardware |
| Fastest growing segment | Software |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Software |
| Key market players worldwide | Amazon.com Inc, Cisco Systems Inc, Alphabet Inc Class A, Honeywell International Inc, Huawei Technologies, International Business Machines Corp, Intel Corp, LG Electronics Inc ADR, NVIDIA Corp, NXP Semiconductors NV, Pax Global Technology Ltd, Samsung Electronics Co Ltd, Apollo Global Management Inc Class A, NCR Atleos Corp |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 26.4% of the global smart retail market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 65,323.9 million by 2030.
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Smart Retail Market Scope
Smart Retail Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Asia Pacific smart retail market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to smart retail market will help companies and investors design strategic landscapes.
Hardware was the largest segment with a revenue share of 67.44% in 2023. Horizon Databook has segmented the Asia Pacific smart retail market based on hardware, software covering the revenue growth of each sub-segment from 2018 to 2030.
The Asia Pacific market growth of this region can be majorly attributed to the strategic initiatives taken by companies in the market aimed at expanding their retail customer base. For instance, in February 2022, PDI Technologies, Inc., a U.S.- based POS solution provider, announced its partnership with Chevron Singapore Pte. Ltd. The partnership focused on implementing cloud-based POS solutions of PDI technologies across the Chevron retail network in the Asia Pacific region.
Furthermore, key market players are focusing on offering solutions to fulfill the growing demand for digitization in the region. For instance, in February 2023, Fujitsu, Japanese ICT solution provider, announced a strategic partnership with SAP, a German software provider, to join its Regional Strategic Services Partner initiative for accelerating digital transformation in the manufacturing and retail sectors in the Asia Pacific region.
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Target buyers of Asia Pacific smart retail market databook
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Our clientele includes a mix of smart retail market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific smart retail market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific smart retail market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific smart retail market size, by country, 2018-2030 (US$M)
Asia Pacific Smart Retail Market Outlook Share, 2023 & 2030 (US$M)
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