Quadintel published a new report on the North America Connected Retail Solutions Market. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
North America connected retail solutions market is expected to expand at a CAGR of 17.84% during the 2018-2023 period, owing to the rapid adoption of the Internet of Things (IoT), and high penetration of smartphones.
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A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. The Census Bureau reports the recovery of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market for North America Connected Retail Solutions Market.
COVID-19 Impact Analysis
The pandemic of COVID-19 has also reduced the availability of and demand for non-COVID-19-related medical treatment. A wide range of treatments, including emergency care for acute diseases, routine check-ups, and recommended cancer screenings, are being postponed or avoided by patients. Undiagnosed illnesses and a failure to intervene early will have serious long-term health consequences. COVID-19 has accelerated a variety of existing and emerging healthcare trends, including changing consumer attitudes and habits, the convergence of life science and health care, rapid advances in digital health technologies, and new talent and care delivery models, to name a few.
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Based on application segment insights:
Owing to high Internet penetration rates, adoption of IoT and use of omnichannel strategies to integrate both online and offline customer experience, as well as innovative technological innovations such as IoT, AI, and Big Data will drive the growing market. The Supply Chain Management (SCM) segment will have significantly high CAGR (34.20%) during the forecast period. Close on its heels will be the Customer Relationship Management (CRM) segment, anticipated to expand at a CAGR of 15.30%.
Based on country insights:
In 2018, the United States represented the largest market share, accounting for 95.35% of North Americas connected retail solutions market revenue. North Americas mega-corporations, Verizon Communications, and Microsoft have started the era of digital retail through partnerships and acquisitions and organic business creation strategies to introduce a shared retail ecosystem for customers as well as the retailers. However, Canada is anticipated to expand at the highest CAGR during the forecast period owing to its vast smartphone penetration and high disposable income.
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Table of Contents:
- Market Overview
- Market Definition and Scope
- Market Dynamics
- Market Industry Analysis
- Market, Regional Analysis
- Analysis of Leading Companies
- Competitive Intelligence
- Research Process
- Market Analysis and Forecast, By Product Types
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