Market Trends of Surface Computing Industry
The Retail Sector is Expected to Hold a Significant Market Share
- The retail segment possesses a huge potential for the growth of the Surface Computing Market. Surface computing not only makes transactions faster and easier but also provides a personalized computing environment to business owners. Surface computing also facilitates businesses in their green initiatives, allowing them to cut back on paper, ink, and other office supply wastes.
- Retailers connect their physical locations with digital experiences to better serve customers and build a more connected organization from the sales/shop floor to the C-suite. Offline merchants are embracing new business models, like contactless shopping and curbside pickup. It's an upheaval that brings new opportunities for retailers in an ever-competitive market, helping consumers find what they're looking for and anticipating demand.
- Similarly, according to the Retailers Association of India (RAI), the retail industry achieved 93% of pre-COVID-19 sales in February 2021; consumer durables and quick service restaurants (QSR) increased by 15% and 18%, respectively.
- Further, in May 2023, Metro, a China-based supermarket, introduced Telpo self-service kiosks. The K7 Telpo kiosks feature multiple payment methods, including EFT, QR code, and facial recognition. The thermal printer features an 80-millimeter paper width, 150-millimeters per second printing speed, and an automated cutter.
- Furthermore, the digitization of the retail sector has increased manifold. Surface computing technology can further support the transformation of the retail sector in multiple ways, including efficient inventory management, better user experience, enhanced profitability, and better advertising opportunities.
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North America is Expected to Hold the Largest Market Share
- North America is a developed region, and people have more purchasing power and disposable income than those in growing areas. In North America, this market is driven by the United States, owing to the concentration of surface computing manufacturers.
- The North America surface computing market is developing rapidly due to the region's demand for technically advanced products. High consumer awareness and easy product availability increase the industry's growth opportunities. The existence of several significant surface computing technology manufacturers in the U.S. creates heightened product awareness and demand.
- According to Select USA, the U.S. media and entertainment industry is the largest in the world. At USD 717 billion, it represents a third of the global media and entertainment industry, and it includes motion pictures, television programs and commercials, streaming content, music and audio recordings, broadcast, radio, book publishing, video games, and ancillary services and products.
- Furthermore, the country's retail sector is among the largest, owing to the presence of retail giants such as Amazon and Walmart. According to the U.S. Census Bureau, total retail sales for the 12 months of 2021 were up by 19.3% from 2020, while total sales for October 2021 through December 2021 were up by 17.1% from the same period a year ago.
- The growth of these sectors, along with the growing adoption of innovative technological solutions across various sectors, is expected to drive the development of the surface computing market in the region during the forecast period.
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