DUBLIN, March 13, 2023 /PRNewswire/ — The “Global Ambient Commerce Market Size, Share & Industry Trends Analysis Report by End-use (Department Stores, Convenience Stores, Supermarkets, Grocery Stores, and Others), Component, Regional Outlook and Forecast, 2022-2028” report has been added to ResearchAndMarkets.com’s offering.
The Global Ambient Commerce Market size is expected to reach $33.6 billion by 2028, rising at a market growth of 32.4% CAGR during the forecast period.
With ambient commerce, also known as checkout-free retail, customers can leave stores with their desired goods in hand. Without the use of lines or cash registers, a variety of artificial intelligence (AI) technologies monitor their movements and automatically charge their accounts.
Retailers are getting more inventive as they work to entice customers back into physical stores after the lockdown restrictions were relaxed. By implementing this method of shopping in a few of their branches, retailers like Amazon, Tesco, and Aldi are influencing the future of grocery shopping.
To give customers a multisensory purchasing experience, ambient commerce blends the internet of things (IoT), artificial intelligence (AI), augmented reality (AR), sensors, actuators, as well as other cutting-edge technology. The ease of purchasing, restocking, and cheaper store operating expenses are a few advantages of ambient commerce that can be used to explain the market’s expansion. Additionally, it offers various e-commerce information, including data on financial transactions, consumer preferences, and behavioral trends.
Due to the fact that ambient commerce enables customers to leave businesses with the merchandise they want without waiting for the checkout procedure, it is sometimes referred to as checkout-free retail. There is no need to wait in long lines because a variety of AI technologies and cameras monitor the customer’s activities and charge them for the purchased items immediately from their account or digital wallets.
COVID-19 Impact Analysis
The COVID-19 pandemic outbreak is anticipated to further stimulate the ambient commerce business. The pandemic has accelerated the adoption of online and contactless payment methods, leading many merchants to embrace cutting-edge technology like ambient computing. Retailers are implementing long-term strategies that can give their customers a sensory shopping experience while also providing the highest levels of safety and ease. Following the pandemic, consumer awareness of ambient products has increased.
Market Growth Factors
Rising demand for smart gadgets
Smart devices are distinctive electronic devices that can communicate, share, and collaborate with the user as well as other smart devices nearby. World’s population growth has increased the use of smart cities and smart spaces for cost- and energy-effectiveness, which has increased the acceptance of smart houses.
In smart homes, ambient intelligence can be used for a wide range of purposes, including music playback, voice interaction, podcast streaming, playing audiobooks, giving real-time information, and more. Owing to this, the ambient commerce market would grow over the projection period.
Demand for contactless shopping is rising
Numerous of these key elements of the consumer experience such as the absence of fitting rooms, interactions with retail associates, acceptance of cash payments, and in-store product testing were put to the ultimate test during the Covid-19 pandemic and the resulting social isolation.
In-store checkout automation now heavily relies on radio-frequency identification (RFID) tags. As their name implies, RFID tags are very small strips of metal that send information via radio waves about the object to which they are attached. All these factors are supporting the market growth for ambient commerce.
Marketing Restraining Factor:
Numerous retailers lack the necessary network and infrastructure components that the vast volumes of IoT data demand. Retailers need a cloud solution, a robust network, and end-user solutions such as tablets, barcode scanners, and mPOS to digitalize their physical stores. The retailers must make a significant investment in these items. Owing to these elements, the ambient commerce market growth may decline over the projection period.
Key Market Players
List of Companies Profiled in the Report:
Alibaba Group Holding Limited
Trigo Vision Ltd.
Adroit Worldwide Media, Inc.
Standard Cognition, Corp.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
188.8.131.52 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Strategies Deployed in Ambient Commerce Market
Chapter 4. Global Ambient Commerce Market by End-use
4.1 Global Department Stores Market by Region
4.2 Global Convenience Stores Market by Region
4.3 Global Supermarkets Market by Region
4.4 Global Grocery Stores Market by Region
4.5 Global Others Market by Region
Chapter 5. Global Ambient Commerce Market by Component
5.1 Global Sensors Market by Region
5.2 Global Cameras Market by Region
5.3 Global Actuators Market by Region
5.4 Global Others Market by Region
Chapter 6. Global Ambient Commerce Market by Region
Chapter 7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/uw0hkm
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