The global advanced shopping technology market is to grow at a considerable CAGR of 12.3% during the forecast period (2024-2031). With the technological growth and growing demand for electronic devices such as mobile phones, tablets laptops, and among others. the market of mobile applications in the shopping technology market is also growing According to Globaldata, The anticipated CAGR of 3.7% for the five years 2021 – 2026, which is expected to drive the market to a value of $910.9 billion by the end of 2026. Comparatively, the Asia-Pacific and US markets will grow with CAGRs of 4.5% and 3.4% respectively, over the same period, to reach respective values of $394.3 billion and $232.7 billion in 2026. Mobile applications makes the shopping experience more efficient, more personalized, and more convenient with the help of mobile applications customer can easily reach customer service and simplify the checkout processes.
For instance, In August 2023, Walmart entered the virtual fashion segment with the clothing brand Scoop, fashion space, Runway Z, and within the mobile virtual world ZEPETO. virtual goods based on Scoop’s designs were available for players to buy for their avatars the company also partnered with consumer goods giant Procter & Gamble to put QR codes on bus shelters and trucks and encourage on-the-go consumers to scan and instantly buy P&G products from brands such as Tide, Pampers, and Gillette.
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Market Coverage
- The market number available for – 2022-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Technology
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- includes Amazon.com, Inc., Google LLC, Procter & Gamble Company, Toshiba Corporation, Walmart Inc., and among others.
Advanced Shopping Technology Market Report Segment
By Technology
- Beacons
- Virtual Reality
- smart shelves
- Retail Apps
- Social Media
- Showrooming
By Application
- Retail
- Commercial Advertising
- Warehouse
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Advanced Shopping Technology Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Advanced Micro Devices, Inc.
- io
- Huawei Technologies Co., Ltd.
- Intel Corp.
- MediaTek Inc.
- Microchip Technology Inc.
- Nextopia Software Corp.
- NVIDIA Corp.
- NXP Semiconductors.
- Obsess, Inc.
- Qualcomm Technologies, Inc
- Renesas Electronics Corporation.
- Samsung Electronics Co., Ltd.
- STMicroelectronics
- Texas Instruments Inc.
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