Connected Retail Market Size Was Valued at USD 46.24 Billion in 2023, and is Projected to Reach USD 211.94 Billion by 2032, Growing at a CAGR of 18.43% From 2024-2032.
The term "connected retail market" describes how modern data analytics and digital technology are incorporated into conventional retail operations to give customers a smooth, customized shopping experience. This industry includes a range of technologies that are used to link online and brick-and-mortar retail settings, including cloud computing, augmented reality (AR), artificial intelligence (AI), and the Internet of Things (IoT). Enhancing customer involvement, streamlining processes, and enhancing decision-making through real-time analytics are the objectives of connected retail. Retailers may improve inventory management, deliver tailored marketing, and create a more effective and pleasurable shopping experience by utilizing these technologies.
Another industry that is expanding quickly as a result of technology's influence on the retail industry is connected retail, which is redefining traditional retail. The web of things, an enhanced version of IoT, AI, and big data analytics technologies, is enhancing supply chain management systems and the shopping experience for customers.
The Major Players Covered in this Report:
- Cisco Systems Inc.
- Microsoft Corporation
- Intel Corporation
- IBM Corporation
- Honeywell International Inc.
- Other Key Players
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Market Dynamics :
Market Driver:
Consumer need for seamless and personalized shopping experiences is the main force behind the connected retail market. Customers today demand an integrated shopping experience that smoothly connects online and offline channels due to the widespread use of smartphones and other digital devices. Retailers are being forced by this change in consumer behavior to implement cutting-edge technology like data analytics, artificial intelligence (AI), and the Internet of Things (IoT) in order to improve customer pleasure and engagement. In addition, merchants are being forced to innovate constantly in order to meet customer expectations for efficiency, personalization, and convenience due to the growth of e-commerce and the necessity for competitive difference. In order to improve inventory management, streamline processes, and offer real-time information, retailers are investing in connected retail solutions, which will ultimately propel the expansion of the connected retail industry.
The Report Will Include A Major Chapter
- Patent Analysis
- Regulatory Framework
- Technology Roadmap
- BCG Matrix
- Heat Map Analysis
- SWOT Analysis
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Segmentation of the Connected Retail Market
By Component
- Hardware
- Software
- Service
By Technology
- ZigBee
- NFC
- Bluetooth Low Energy
- Wi-Fi
- Other Technologies
By Region
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
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includes Competitor's Landscape:
- Major trends and growth projections by region and country
- Key winning strategies followed by the competitors
- Who are the key competitors in this industry?
- What shall be the potential of this industry over the forecast tenure?
- What are the factors propelling the demand for the Connected Retail?
- What are the opportunities that shall aid in significant proliferation of the market growth?
- What are the regional and country wise regulations that shall either hamper or boost the demand for Connected Retail?
- Has the supply chain disruption caused changes in the entire value chain?
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