Europe Smart Retail Devices Market Analysis, Size, and Share by 2027

The smart retail devices market in Europe is expected to grow from US$ 5,175.76 million in 2019 to US$ 7,978.61 million by 2027; it is estimated to grow at a CAGR of 6.0% from 2020 to 2027.

The UK, Germany, France, Italy, Russia, rest of Europe are major economies in Europe. Animatronics and robotics usage increasing is the major factor driving the Europe smart retail devices market. Animatronics is the process of manufacturing and operating lifelike robots that are used for entertainment or films, whereas robotics is the process of designing, constructing, and operating robots. Robots offer enhanced services such as data collection for understanding customer behavior, personalized services, and improved in-store services, and enhanced logistics and delivery of goods. Furthermore, the growing adoption of robots by prominent retail chains such as Walmart is expected to drive the growth of the market. For example, in January 2020, Walmart introduced its robot named Alphabot. The system can pick and pack orders 10 times faster than human packs. The increasing competition in the retail industry is encouraging large enterprises such as Amazon, Walmart, and Kroger to invest in smart technologies such as robots to understand customer behavior, offer enhanced shopping experience, ensure better inventory management, and reduce logistics and delivery time. Therefore, the growing adoption of robots and animatronics to provide enhanced shopping experience to customers is driving the growth of the Europe smart retail devices market

Spain, Italy, Germany, the UK, and France are some of the worst affected member states in the European region due to the COVID-19 outbreak. Businesses in the region are facing severe economic difficulties as they had to either suspend their operations or substantially reduce their activities. Owing to business shutdowns, travel bans, and supply chain disruptions, the region faced an economic slowdown in 2020, which is most likely continue in 2021 as well. Italy, Spain, and Germany have implemented drastic measures and travel restrictions to limit the spread of coronavirus among its citizens. European countries represent a significant market for smart retail devices, owing to the high purchasing power of individual customers and booming retail industry. However, due to the COVID-19 outbreak, the retail sector has seen a sharp decline in the European countries. The retail and transportation & logistics industries are expected to be under stress in 2021, and they will require time to stabilize. All these factors are expected to impact smart retail devices market growth in European countries. The markets in Italy, Spain, Germany, the UK, and France are anticipated to see negative impact in 2021.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe smart retail devices market. The Europe smart retail devices market is expected to grow at a good CAGR during the forecast period.

Europe Smart Retail Devices Market Segmentation

Europe Smart Retail Devices Market – By Technology

• Digital Signage
• Smart Labels
• Smart Payments
• Smart Carts
• Others

Europe Smart Retail Devices Market – By Application

• Predictive Equipment Maintenance
• Inventory Management
• Smart Fitting Room
• Foot Traffic Monitoring
• Others

Europe Smart Retail Devices Market, by Country

• UK
• Germany
• France
• Italy
• Russia
• Rest of Europe   

Europe Smart Retail Devices Market - Companies Mentioned

• Intel Corporation
• LG Electronics
• Nvidia Corporation
• Panasonic Corporation
• Samsung Group
• Zebra Technologies Corporation

Europe Smart Retail Devices Report Scope