UK Smart Retail Market Size & Outlook, 2023-2030
UK smart retail market, 2018-2030 (US$M)
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UK smart retail market highlights
- The UK smart retail market generated a revenue of USD 2,049.2 million in 2023 and is expected to reach USD 11,728.0 million by 2030.
- The UK market is expected to grow at a CAGR of 28.3% 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 2,049.2 million |
| Market revenue in 2030 | USD 11,728.0 million |
| Growth rate | 28.3% (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, UK accounted for 5.4% 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 Europe, Germany smart retail market is projected to lead the regional market in terms of revenue in 2030.
- Italy is the fastest growing regional market in Europe and is projected to reach USD 7,199.1 million by 2030.
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Smart Retail Market Scope
Smart Retail Market Companies
| Name | Profile | # Employees | HQ | Website |
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UK 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 62.42% in 2023. Horizon Databook has segmented the UK smart retail market based on hardware, software covering the revenue growth of each sub-segment from 2018 to 2030.
The growth of the U.K. in the market can be attributed to improving digital payments. According to U.K. payment research 2022, the pandemic had a transformative effect on the payments industry, speeding up the steady decline in cash payments and plummeting debit card usage amid a decade of growth. The increasing digital payments would force retailers to opt for a retail solution that enables digital payments, thereby driving the growth of the U.K. in the smart retail market over the forecast period.
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Target buyers of UK 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 country-level data and insights on the UK smart retail market , including forecasts for subscribers. This country databook contains high-level insights into UK smart retail market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK smart retail market size, by solution, 2018-2030 (US$M)
UK Smart Retail Market Outlook Share, 2023 & 2030 (US$M)
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