India Smart Retail Market Size & Outlook, 2023-2030
India smart retail market, 2018-2030 (US$M)
Related Markets
India smart retail market highlights
- The India smart retail market generated a revenue of USD 1,212.1 million in 2023 and is expected to reach USD 9,295.6 million by 2030.
- The India market is expected to grow at a CAGR of 33.8% 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.
Smart retail market data book summary
| Market revenue in 2023 | USD 1,212.1 million |
| Market revenue in 2030 | USD 9,295.6 million |
| Growth rate | 33.8% (CAGR from 2023 to 2030) |
| Largest segment | Hardware |
| Fastest growing segment | Software |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, India accounted for 3.2% of the global smart retail market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan smart retail market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 9,295.6 million by 2030.
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Smart Retail Market Scope
Smart Retail Market Companies
| Name | Profile | # Employees | HQ | Website |
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India 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 70.03% in 2023. Horizon Databook has segmented the India smart retail market based on hardware, software covering the revenue growth of each sub-segment from 2018 to 2030.
The Indian market was A significant factor boosting the country's smart retail market is the initiatives taken by the government to encourage the adoption of digital solutions and online payments across industries.
For instance, in January 2023, the Ministry of Electronics and IT, as a part of the union budget 2022-23, publicized incentives for promoting ecommerce and PoS transactions using UPI apps such as BHIM and RuPay.
The government announced the scheme to incentivize the acquiring banks by paying a share of low-value BHIM-UPI transactions and RuPay debit cards dealings of up to Rupees 2,000 (P2M) for the FY 2022-23, which would be in effect from April 1, 2022.
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Our clientele includes a mix of smart retail market companies, investment firms, advisory firms & academic institutions.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the India smart retail market , including forecasts for subscribers. This country databook contains high-level insights into India smart retail market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India smart retail market size, by solution, 2018-2030 (US$M)
India Smart Retail Market Outlook Share, 2023 & 2030 (US$M)
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