Connected Retail Market Scope
Connected retail intends to interface with the clients consistently through customized showcasing, the blend of an actual store and digital insight, inventory network, shifted installment choices, and giving the capacity to workers to team up more adequately. Connected retail is a spot that arranges digitally appreciated experiences that connect with and influence clients at the extension of the fundamental and actual world. It gives customers an intelligent excursion, which is to shop from advanced to physical, connecting there on the web and portable retail encounters with in-store experiences. This is one can nearly anticipate the eventual fate of retail. In spite of the fact that retailers connecting with clients through innovation to attempt a predominant experience. Therefore, in this digital world, connected retail plays a crucial role to strengthen the understanding of customers.
The Connected Retail market study is segmented by Type (Hardware and Software), by Application (Electronics and Appliance, Home and Personal Care, Food and Beverage, Apparel, Sporting Goods and Toys and Others) and major geographies with country level break-up.
The leading organizations in the market are continuously adopting new innovative technology solutions in order to provide a better user experience to the consumers. Also, companies collaborating with other companies to make research and development and to avail themselves the competitive advantage. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Connected Retail market throughout the predicted period.
Atmel Corporation (United States), ARM Holdings PLC (United Kingdom), Cisco Systems, Inc. (United States), IBM Corporation (United States), Google, Inc. (United States), Intel Corporation (United States), NXP Semiconductors N.V. (Netherlands), Microsoft Corporation (United States), PTC, Inc. (United States) and Softweb Solutions, Inc (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Max Linear (United States), Marvell Technology (United Kingdom) and Qualcomm (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
AMA Research has segmented the market of Global Connected Retail market by Type, Application and Region.
On the basis of geography, the market of Connected Retail has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
17 June 2019, IBM announced the availability of AI Now™ For Connected Commerce, premiering at Salesforce Connections which helping to simplify today’s retail landscape across service, marketing, and sales channels. For Connected Commerce is a B2C and B2B platform that can provide intelligent order management, price promotion, and supply chain management – powered by IBM Watson on Salesforce Marketing, Commerce, and Service Clouds.
Market Trend
- The utilization of integrated technology is increasing in the retail
- Rise of Omnichannel retailing, where the consumers are on continuously connected platforms
Market Drivers
- Increase in the use of mobile and other technology
- Emerging of IoT in the retail
Opportunities
- Development of technology infrastructure in the emerging countries
- Reducing prices of components in a newly emerging market
Restraints
- High cost of the owning and implementation of connected retail technology
- Increase in the issues related to the cybersecurity
Challenges
- Unauthorized access to various IoT applications or breaking into the device connectivity system
Key Target Audience
Industrial Associations, Supply chain Industry, Government Regulatory Bodies, Government Research Institutions and Retail Organizations