Global Smart Shopping Cart Market Research Report: Forecast (2024-2030)

Market Definition

A smart shopping cart is a technologically upgraded & connected shopping cart commonly found in retail stores. These revolutionary carts are outfitted with a variety of sensors, cameras, and technology that allow them to give a more enjoyable shopping experience. It offers technology like bar codes for item tracking, ZigBee, RFID sensors, and personalized offers, making it easy for every customer.

Market Insights & Analysis: Global Smart Shopping Cart Market (2024-30)

The Smart Shopping Cart Market is projected to grow at a CAGR of around 25.1% during the forecast period, i.e., 2024-30. The market is driven primarily by the increasing adoption of contactless payment in supermarkets places worldwide, i.e., increasing the number of intelligent shopping carts providing a better experience for customers and offering retailers valuable data insight. To meet the requirements of the rising population & household needs, the number of supermarkets is supplementing over the years, which is also anticipated to improve the overall market size during the foreseen period. 

In addition, the conventional way of shopping involves troublesomeness & delays, especially during the festive seasons & holidays when supermarkets are crowded. Smart trolleys are the better option to save time and energy for consumers. This factor would further augment the demand for intelligent shopping carts in the upcoming years.

Moreover, increasing tourism is creating an opportunity for the Smart Shopping Carts Market as many nations are developing shopping areas to meet individual necessities, which further requires the smart trolleys to contribute to the market growth. Besides, the COVID-19 pandemic also contributed to the rapid adoption of several programmed technologies & contactless in retail.

Smart Shopping Cart, with its ability of contactless checkout, has enhanced its growth throughout the pandemic. During the pandemic, Smart shopping carts came, along with built-in-sanitizing features like disinfectant wipes and UV-light disinfection for handles. These protection procedures have also aided in upgrading the demand for these carts in the shopping spaces. Furthermore, the rising usage of contactless payment or time-saving processes & benefits provided by smart trolleys would instigate the overall market size through 2030.

Global Smart Shopping Cart Market Driver:

Surging Adoption of Digital Payment to Lead the Smart Shopping Carts Market Growth – Digital payments are a payment mode that includes online payment & eliminates the need for a physical form of currency. This payment mode is becoming popular as it is a fast & quick payment mode, and individuals can make payments online. Nowadays, shopping is like a daily activity in metro cities. Hence, these smart trolleys are proving to be one of the most beneficial assets for shopping, further upscaling their demand growth.

With smart trolleys, customers can save time by avoiding long queues at the billing counters, which helps them save time & energy as well as make their shopping experience more convenient. Moreover, these carts offer the benefit of avoiding payment hustle, as they aid the consumer in making online payments, making contactless payment a new emerging payment method in the global market.

In supermarkets or hypermarkets where smart cart is available for shopping has an RFID tag on every product bearing a unique barcode, which the customer can scan on the scanner deployed in these carts & to generate their bill. Further, to make the payment consumers could scan the QR code & pay online. Thus, owing to their efficient properties & the feature of easy online payment, the market is anticipated to drive in the forthcoming period.

Global Smart Shopping Cart Market Possible Restraint:

Technical Glitches While Using a Smart Shopping Cart to Hinder the Market Growth – Technical glitches could be a significant restraint for the Smart Shopping Carts Market, involving software issues, sensor malfunctions, and connectivity problems. Retailers & customers often face challenges that arise due to technical glitches & system errors while making payments. These glitches lead to a poor shopping process & tend to discourage users from using it, affecting the market growth across the globe.

Moreover, these technical glitches might compromise the consumer's data security, including payment information. Moreover, continuously addressing technical glitches & execution maintenance aids to the cost of operating smart shopping carts, further creating a challenge for the market in the future years.

Global Smart Shopping Cart Market Growth Opportunity:

Rising Tourism to Create Opportunity for Industry Expansion – The booming rise in tourism in several countries is creating an opportunistic arena for the market as countries across the world are constructing more shopping malls, including superstores, to meet the growing demand. With the influx of tourists, numerous supermarkets or hypermarkets have deployed smart carts to make it easier for consumers to shop.

The technology embedded within the product also offers navigation systems & language barrier-free platforms in new places, which is one of the key aspects making its adoption heighten with the boost in tourists. It is a fast, secure, easy-to-use, and convenient method to do shopping with no shopping hassles & can be used by any age group, tourists, or individuals. Hence, with the gradual adoption of these carts across tourist-prone countries, the Smart Shopping Cart Market size is presumed to enhance in the following years.

Global Smart Shopping Cart Market (2024-30): Segmentation Analysis

The Smart Shopping Cart Market study by MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment & includes predictions for the period 2024–2030 at the global, regional, and national levels. In accordance to the analysis, the market has been further classified as:

Based on Technology:

• Bar code
• RFIDs
• ZigBee

RFIDs (Radio Frequency Identification) are anticipated to grow at a mounting rate, holding the potential share of the Smart Shopping Cart Market during the forecast period. This technology sends its data after reading each product tag. When the customer puts the product in the smart trolley, the RFID reader scans the tag & a code number is generated for each product with the product price & other details.

The software has the ability to inform the user about products that are not suitable for the user’s dietetic standards. For instance, Caper Inc. is developing smart trolleys with a built-in-video monitor & RFID sensor. The market of RFID-using devices is estimated to have more growth in forecasting years as compared with other segments of the technologies due to its attractive features, thus influencing the market growth.

Based on the Mode of Sale:

• Supermarket
• Malls
• Others

The Supermarket segment held the largest share of the Smart Shopping Cart Market during 2022 and is predicted to have a strong foothold in the forecast years due to the availability of a huge variety of household products, consumer goods, and apparel. Supermarkets have more crowds compared to any other marketplaces, especially during the festive seasons. This reflects the need for smart trolleys & supports the sale of these shopping carts across this mode of distribution channels, hence creating a positive market outlook.

Global Smart Shopping Cart Market: Regional Analysis

Geographically, the Smart Shopping Cart Market expands across:

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Due to the rising acceptance of novel technologies & instigating investment in R&D activities, along with increasing initiative by the companies, North America is expected to capture a notable share in the Smart Shopping Cart Market. It is estimated that due to the increasing artificial intelligence (AI) & machine learning, the Smart Shopping Cart Market in North America would expand over the upcoming years.

Moreover, the US is the largest market in the region owing to the high adoption of new technologies, the presence of major retailers, and the improving disposable incomes of individuals, therefore supporting the growth graph of the North America Smart Shopping Cart Market.

Global Smart Shopping Cart Industry Recent Developments

• 2023: Shopic entered into a partnership with Israel’s prominent supermarket chain to deliver 2000 smart shopping trolleys.
• 2023:  A2Z Cust2Mate joined hands with IR2S to provide 30,000 smart shopping carts to all the leading retailers.

Gain a Competitive Edge with Our Global Smart Shopping Cart Market Report

• Global Smart Shopping Cart Report by MarkNtel Advisors provides a detailed & thorough analysis of market size, share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
• This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
• Global Smart Shopping Cart Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.