The Connected Retail Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Connected Retail Global Market Report 2024, The connected retail market size has grown exponentially in recent years. It will grow from $36.41 billion in 2023 to $44.07 billion in 2024 at a compound annual growth rate (CAGR) of 21.0%. The growth in the historic period can be attributed to rise of e-commerce, enhanced customer experience, demand for personalization, social media influence, supply chain optimization, emergence of smart stores.
The connected retail market size is expected to see rapid growth in the next few years. It will grow to $88.17 billion in 2028 at a compound annual growth rate (CAGR) of 18.9%. The growth in the forecast period can be attributed to contactless shopping , voice commerce adoption, sustainability concerns, cross-channel integration, smart mirrors and fitting rooms. Major trends in the forecast period include internet of things (iot) integration, mobile commerce and payments, data analytics and artificial intelligence (ai), smart shelves and rfid technology, subscription-based models.
The increasing demand from end users such as the food and beverage industry is expected to boost the growth of the connected retail market going forward. The food and beverage industry refers to all businesses that handle the processing, packaging, and distribution of uncooked food. Connected retail helps food and beverages brands to improve customer engagement with, consistent brand experience satisfying customer preferences. For instance, in 2023, according to the Food & Drink Federation, a UK-based organization that represents and advises UK food and drink manufacturers, the exports of food and drink increased by 31% in 2022 compared to 2021. Additionally, the food and beverages industry have a turnover of $3.52 billion (£10.3 billion) in 2022, accounting for 33% of total Scottish manufacturing. Therefore, the increasing demand from end users such as the food and beverage industry is driving the growth of the connected retail market.
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The connected retail market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: ZigBee, NFC(Near Field Communication), Bluetooth Low Energy, Wi-Fi, Other Technologies
3) By Application: Electronics And Appliances, Home And Personal Care, Food And Beverage, Apparel, Sporting Goods And Toys, Other Applications
Technological advancements are a key trend gaining popularity in the connected retail market. Major companies operating in the connected retail market are adopting new technologies to sustain their position in the market. For instance, in September 2022, Instacart, a US-based grocery technology company, launched connected stores, a suite of new and existing technologies that aim to help retailers create a personalized experience both online and in-store. This new offering allows grocers to create a unified, personalized experience for customers by seamlessly integrating their app or website with the physical, in-store experience.
The connected retail market report table of contents includes:
1. Executive Summary
2.Connected Retail Market Characteristics
3.Connected Retail Market Trends And Strategies
4. Connected RetailImpact Of Market analysis
5.Connected Retail Market Size And Growth
6. Connected RetailSegmentation
7.v Regional And Country Analysis
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27.Connected Retail Competitive Landscape And Company Profiles
28.Connected Retail Key Mergers And Acquisitions
29.Connected Retail Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Microsoft Corporation
- Zebra Technologies Corporation
- Intel Corporation
- PTC Inc.
- SAP SE
- Cisco Systems Inc
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The Global Connected Retail Market size is projected to reach $82.31 billion units by 2027 from an estimated $19.46 billion unit in 2021, growing at a CAGR of 19.05% globally.Connected Retail could be a place that's integrated and digitally evaluated with accumulated experiences that connect and influence customers at the bridge between the first and physical worlds.
it is a distributor that connects with customers through technology, however it is a nice expertise.
With fast technology growth, businesses should take new methods to elevate their promoting approaches and manage client demand.
The performance of the market at the world and regional levels throughout approaching forecast years is additionally delineated within the market report.REQUEST to GET FREE Sample PDF of Connected Retail Market Report NOW!
@https://introspectivemarketresearch.com/request/15764Leading companies reviewed in the market report are:Cisco Systems (San Jose California),Verizon (New York, United States),International Business Machines Corporation (IBM) (U.S.),Amazon Web Services Inc. (Seattle, U.S.),Microsoft Corporation (Washington, U.S.),Beatrix Software (Redwood City, U.S),ARM Holdings PLC (Softbank Group) (Cambridge, U.K),Softweb Solutions Inc. (Chicago, U.S),Atmel Corporation (Microchip Technology Inc.) (California, U.S),Google Inc. (U.S.),Microsoft Corporation (U.S.),Intel Corporation (Santa Clara, U.S),SAP SE (Germany),NXP Semiconductors NV (Netherlands),Zebra Technologies Corp. (U.S),Fujitsu Limited (Tokyo, Japan),PTC Inc. (Massachusetts, U.S)The analysis of Connected Retail Market Business integrates helpful differentiation knowledge for every of the market segments.
These segments are more analyzed on numerous fronts together with historical results, contributions to plug size, percent market share, projected rate, and lots of additional.Segmentation or breakdown of key businesses covered in Connected Retail Market Study is,By Type,Hardware, Software, ServicesBy Application,ZigBee, NFC, Bluetooth Low Energy, Wi-Fi, Other TechnologiesConnected retail is a place that arranges a unified, digitally appreciated, in accumulate experience that attach with and affect customers at the bridge of the basic and physical world.
A new report published by Research on Global Markets titled "Global Connected Retail Solutions Market (2018-2023)" studies the performance of the global connected retail solutions market over a five year assessment period from 2018 to 2023.
The report presents the value forecast of global connected retail solutions and provides key insights into the factors driving market growth as well as the factors restricting market growth.
According to the Research On Global Markets analysts, global connected retail solutions market is predicted to expand at a CAGR of 19.5% and will be worth USD 65.3 Bn by 2023.Technological advancements playing a key role for market growthTechnological disruptions like the Internet of Things (IoT), artificial intelligence, and machine learning are the key drivers for the connected retail solutions market.
Also, growing customer demand for more focused and convenient shopping experiences when they walk into stores or browse online shopping portals is urging the retailers to provide 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.Global Connected Retail Solutions Market: Segment analysisThe global connected retail solutions market is primarily segmented 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.
Based on application segment insights:The growing popularity of Latin America Connected Retail Solutions Market as a supply chain partner is driven by the region's close proximity to North America, which has liberal trade policies and attractive labor costs.
Businesses in Latin America are adopting leading-edge supply chain practices for collaboration with different global partners to compete in the international markets.
The supply chain management (SCM) segment will drive a high CAGR (32.7%) during the forecast period.
Close on its heels will be the Business Analytics/Business Intelligence segment, anticipated to expand at a CAGR of 17.8%.The Latin America connected retail solutions market is expected to expand at a CAGR of 19.8% during the 2018-2023 period, owing to the rapid adoption of the Internet of Things (IoT), and shift towards omnichannel retailing.Based on country insights:In 2018, Brazil represented the largest market share, accounting for 51% of Latin America's connected retail solutions market revenue.
However, Mexico is anticipated to expand at the highest CAGR during the forecast period owing to its leadership position in mobile retailing.Companies covered:• Verizon Communications• Microsoft• IBM• Intel• Cisco SystemsRequest a Free Sample Copy of Connected Retail Solutions Market Report @ https://www.radiantinsights.com/research/latin-america-connected-retail-solutions-market-2018-2023/request-sampleTable of ContentsChapter 1.
Key questions answered in this study1.3.
Technological advancements coupled with increasing numbers of IoT that is Internet of Things applications across the retail sector are estimated to drive the growth for the connected retail market.
Internet of things is the concept principally for connecting any device such as coffee makers, washing machines, wearable devices, cell phones, headphones, lamps, and several other things with an on & off switch for the internet connection.
Bluetooth low energy transmits less data for smaller distances and uses less power compared to Bluetooth.
BLE has increased customer engagement & marketing, in its application increasing contactless payments easier.
Issues pertaining to privacy & security and lack of standards related to IoT are estimated to hamper industry growth over the next eight year period.
Retailers are more and more adopting IoT to have more customers’ interaction and gain competitive advantage.
