Report Ocean has recently published the “Connected Retail Solutions Market” Research Report 2023-2030, offering a comprehensive analysis of the market. This report delves deep into the market dynamics, including key trends, upcoming technologies, drivers, challenges, and regulatory policies. It also features company profiles and strategies of prominent players in the industry. With over 100+ market data tables, pie charts, graphs, and figures, this global market study provides a thorough understanding of the market landscape. It presents a complete assessment, encompassing future trends, current growth factors, informed opinions, factual insights, and industry-validated market data, enabling accurate forecasts until 2030.
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The global connected retail solutions market is predicted to expand at a CAGR of 19.5% and will be valued at USD 65.3 Billion by 2023.
Technological disruptions like the Internet of Things (IoT), and the introduction of artificial intelligence and machine learning are the key drivers of the connected retail solutions market. Also, customers these days demand more focused and convenient shopping experiences when they walk into stores or browse online shopping portals. At the same time, retailers are trying to address customers needs by providing more personalized services. To achieve this, they are deploying connected retail solutions to have a clearer view of the supply chain, so that they can undertake data-driven customer relationship management, and for real-time business analysis.
Segmentation based on applications
The applications of connected retail solutions are supply chain management (SCM), customer relationship management (CRM), business analysis/business intelligence (BA/BI), and others. The others sub-segment includes human resource management, and other enterprise resource planning (ERP) applications. SCM-based connected retail solutions are predicted to have the highest CAGR (32.1%), and will generate a value of USD 22.7 Bn by 2023. With the continuous shift from on-shelf availability to on-demand availability, retailers are under enormous pressure to deliver products according to customers choice of time and place. Retailers are constantly in pursuit of solutions which will help them tackle the challenges faced at different levels of the supply chain, implying that the market is poised for growth during the forecast period.
Regional insights
North America is anticipated to be the leading region in the global connected retail solutions market, with a share of 46.8%. This is mainly due to Internet penetration in the region, which is a key determining factor for the growth of the connected retail solutions market. Internet penetration in this region is the highest in comparison to the other regions of the world, with Canada in the lead with 93%, followed by the U.S. (87%). The Asia-Pacific region will witness the highest CAGR of 25.2% during the forecast period of 2018-2023. China and the ASEAN countries are the key countries contributing to the revenue of the connected retail solutions market in the Asia-Pacific region. Retailers in the region are making in-store experiences more personal and satisfying by putting artificial intelligence to work.
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Companies covered
- Cisco Systems, Inc.
- Microsoft Corporation
- IBM Corporation
- Amazon
- SAP SE
- Fujitsu Limited
- Softweb Solutions, Inc.
- Intel Corporation
- Honeywell International, Inc.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
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The report addresses the following key questions regarding the Connected Retail Solutions market:
- What is the expected growth rate of the market in the upcoming years and what factors are driving this growth?
- How do consumers perceive and adopt different types of Connected Retail Solutions in the market?
- How are regulatory policies and government initiatives impacting the growth of the Connected Retail Solutions market?
- What is the market share of the top 5 players in the Connected Retail Solutions market and how is it likely to change in the future?
- What are the latest technologies and innovations in the Connected Retail Solutions market and how are they shaping the industry landscape?
- How do macroeconomic factors such as inflation, GDP, and exchange rates affect the Connected Retail Solutions market?
- What are the challenges related to the supply chain and logistics that Connected Retail Solutions market players face and how are they addressing them?
- How is the changing consumer behavior and preferences influencing the dynamics of the Connected Retail Solutions market?
- What are the potential risks and uncertainties associated with investing in the Connected Retail Solutions market, and how can they be mitigated?
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Connected Retail Solutions market revenues on a global, regional, and country level, projecting trends until 2030. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Connected Retail Solutions market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Connected Retail Solutions market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Connected Retail Solutions business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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