Connected Retail Market Size to Reach USD 44410 Million by 2027 at CAGR 11.2% - Valuates Reports

BANGALORE, India, Aug. 11, 2021 /PRNewswire/ -- The Connected Retail Market is Segmented by Type (Hardware,Software), by Application (Industrial, Enterprise, Others). The report covers global opportunity analysis and industry forecasts from 2021 to 2027. It is published in Valuates Reports under Retail Category.

The global Connected Retail market size is projected to reach USD 44410 Million by 2027, from USD 20910 Million in 2020, at a CAGR of 11.2% during the forecast period 2021-2027.

Major factors driving the growth of the Connected Retail Market are:

The connected retail market is expected to be driven by the increased adoption of the Internet of Things (IoT) across the retail sector. Retailers can benefit from IoT in three key areas: supply chain, customer experience, and new channels and income sources.

Retailers all over the world are recognizing the value of connecting with customers and providing them with a more immersive shopping experience by sending them consistent messages about pricing, product availability, and customer service across all touchpoints, which are some of the factors driving the market forward.

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TRENDS INFLUENCING THE GROWTH OF CONNECTED RETAIL MARKET

The introduction of IoT into the retail industry has radically altered the retail landscape. The integration of IoT sensors in various consumer gadgets will help merchants to analyze and monitor customer behavior, collect data, and give a superior consumer experience. These advantages are expected to drive the growth of the connected retail market.

Furthermore, customers will have a greatly improved shopping experience as a result of connected retail technologies, and retailers and suppliers who embrace and deploy them efficiently will see a considerable increase in their bottom line. This in turn is expected to further increase the growth of the connected retail market.

Emerging retailing models such as omnichannel retailing are expected to drive the connected retail market growth. By merging and synchronizing channels, omnichannel retailing provides customers with a seamless and flexible buying experience. It allows retailers to grab more revenue while also increasing loyalty and brand recognition.

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CONNECTED RETAIL MARKET SHARE ANALYSIS

Based on type, the software segment is expected to be the most lucrative segment due to the increasing number of applications for the retail industry.

Based on region, North America is expected to be the most lucrative segment during the forecast period. Retailer demand for connected solutions is increasing as a result of many benefits such as linked consumers, cost savings, and employee efficiency optimization. These reasons are projected to boost the market research in the North American area. Retailer demand for connected solutions is increasing as a result of many benefits such as linked consumers, cost savings, and employee efficiency optimization. These reasons are projected to boost the market research in the North American area.

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Major Players in the Connected Retail Market

• Zebra Technologies
• Softweb Solutions
• SAP
• PTC
• Microsoft
• Intel
• IBM
• Cisco Systems
• Atmel
• ARM

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SIMILAR REPORTS 

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To see the full list of related reports on the Retail

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