U.S. Smart Retail Market Size & Outlook, 2023-2030
U.S. smart retail market, 2018-2030 (US$M)
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U.S. smart retail market highlights
- The U.S. smart retail market generated a revenue of USD 11,460.8 million in 2023 and is expected to reach USD 63,422.7 million by 2030.
- The U.S. market is expected to grow at a CAGR of 27.7% 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.
Smart retail market data book summary
| Market revenue in 2023 | USD 11,460.8 million |
| Market revenue in 2030 | USD 63,422.7 million |
| Growth rate | 27.7% (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, U.S. accounted for 30.1% 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 North America, U.S. smart retail market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 10,401.9 million by 2030.
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Smart Retail Market Scope
Smart Retail Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. 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 59.88% in 2023. Horizon Databook has segmented the U.S. smart retail market based on hardware, software covering the revenue growth of each sub-segment from 2018 to 2030.
The country has been witnessing increasing retail sales over ever-expanding retail industry in the country has resulted in increased competition among retail businesses, compelling them to adopt new strategies to capture the market. This includes an increased focus on digitization and the adoption of new technologies and products aimed at enhancing retail operations and customer service, such as smart retail solutions.
The growing influx of advanced smart retail solutions could also favor the growth of the U.S. market. For instance, in May 2023, KORE Wireless announced a new retail solution that supports 5G cellular connectivity through fixed wireless access. Considering the higher volume of data and speed required in present-day retail applications, a 5G network with greater bandwidth enables the support of new and evolving applications.
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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 U.S. smart retail market , including forecasts for subscribers. This country databook contains high-level insights into U.S. smart retail market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. smart retail market size, by solution, 2018-2030 (US$M)
U.S. Smart Retail Market Outlook Share, 2023 & 2030 (US$M)
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