Key Companies Covered in the Connected Retail Solutions Market Research are Cisco Systems, Inc., Microsoft Corporation, IBM Corporation, Google, Amazon, SAP SE, Fujitsu Limited, Softweb Solutions, Inc., Intel Corporation, Honeywell International, Inc. and other key market players.
The global connected retail solutions market is predicted to expand at a CAGR of 19.5% and will be valued at USD 65.3 Bn 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.
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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.
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.
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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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
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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