Press Release Description
Smart Shopping Carts to Witness Astounding Demand with the Increase in Contactless Payment
The Smart Shopping Cart Market is projected to grow at a CAGR of around 25.1% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The number of shopping complexes has been increasing over the years, due to which smart shopping carts are in demand as they provide hassle-free shopping with easy contactless payment by using a smartphone & other digital payment system.
Tourism is a leading factor that is growing worldwide, affecting the market of smart shopping carts. These carts offer security, convenience, and ease of payment, by which customers avoid long waiting lines for checkout at the billing counter. These smart trolleys have more advanced products consisting of advanced technologies that offer many benefits to people, making these trolleys attractive to both retailers & consumers.
Moreover, contactless shopping or checkout has increased its progress throughout the pandemic further infusing the demand for smart trollies. Also, during the festive season, footfall seems to be very high in the supermarkets & shopping malls, which results in the long waiting line for checkout. Thus, numerous shopping spaces are deploying smart shopping carts to resolve this issue & make festive shopping convenient & time-saving.
Additionally, both buyers & cashiers avail the benefits of these smart trolleys, thus increasing their demand across the globe, further states the research report, "Global Smart Shopping Cart Market Analysis, 2024."
RFID Sensors to Register Considerable Growth in the Coming Years
Based on technology, the market is fragmented into Bar Code, RFIDs, and ZigBee. RFID sensor is expected to grab the potential share of the Global Smart Shopping Cart Market in the upcoming years due to a surge in the number of shopping malls, supermarkets, and retail stores. It is the most innovative technology that does not require a line of sight for data transformation via radio waves. RFID is an IoT (Internet of Things) sensor that connects and shares data via the internet.
RFID sensors are required for smart shopping carts since they are wireless little technological bits that can read and write data. When a buyer places a product in the smart carts, the RFIDs scan the product tag and display product details on the screen, such as the product name, price, and further details, coupled with a unique number issued by the RFID reader. This advanced technology aids in enhancing the quality of the smart cart, thus elevating the demand graph in the years ahead.
North America to Dominate the Smart Shopping Cart Market
North America is anticipated to hold the largest share of the Smart Shopping Cart Market. With the enlargement of Artificial Intelligence (AI) & machine learning, the high augmentation in popularity of touchless payment, and the acceptance of smart shopping trolleys in new fields such as grocery stores & pharmacies, it is estimated that North America would have a huge market for smart shopping carts in the upcoming years. The United States has the largest market in North America & it is predicted to maintain a notable market in the forecast years.
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including AiFi, StandardCognition, Grabango, Shopic, Imagr, Caper, Cart Technologies, Cartpay, Retailetics, Supertruper, Apicart, A2Z Cust2Mate, and others are looking forward to strengthening their market position.
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the Smart Shopping Cart Market?
- What key factors would propel and impede the industry across the globe?
- How has the industry been evolving in terms of geography & product adoption?
- How has the competition been shaping across various regions?
- How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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