Latin America Smart Retail Market Size & Outlook
Latin America smart retail market, 2018-2030 (US$M)
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Latin America smart retail market highlights
- The Latin America smart retail market generated a revenue of USD 1,261.5 million in 2023.
- The market is expected to grow at a CAGR of 29.9% 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, Argentina is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 1,261.5 million |
| Market revenue in 2030 | USD 7,887.1 million |
| Growth rate | 29.9% (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, Latin America region accounted for 3.3% 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 |
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Latin America 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 70.31% in 2023. Horizon Databook has segmented the Latin America smart retail market based on hardware, software covering the revenue growth of each sub-segment from 2018 to 2030.
The Latin American market was valued increasing demand for smart retail solutions in Latin America can be attributed to changing consumer purchasing patterns and increasing digital payments. In addition, the region is predicted to have a growing base of SMBs and micro-merchants and an increased retail customer base.
Technological advancements are allowing retail businesses to link various systems with CRM and other business solutions. The growing use of contactless-oriented self-serving smart devices is allowing businesses to manage their inventory and revenue streams more effectively.
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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 Latin America smart retail market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America smart retail market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America smart retail market size, by country, 2018-2030 (US$M)
Latin America Smart Retail Market Outlook Share, 2023 & 2030 (US$M)
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