A new market research study by Transparency Market Research provides a comprehensive analysis of the global market for connected retail, emphasizing on its major growth drivers, barriers, major geographical segments, product segmentation, and competitive scenario. The research study, titled “Connected Retail Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2024,” also discusses the opportunities available for major players.
In the last few years, the traditional retailers have increasingly acquired connected retailing capacities, which is projected to offer potential opportunities for providers of connected retail services. The increasing amount of time that is spent on the smartphone and other similar devices is one of the major factors driving the global market for connected retail. In addition, the improving network of e-commerce service providers and the easy availability of high-speed internet are further estimated to augment the growth of the market throughout the forecast period.
Presently, consumers are highly informed and have a host of options for shopping and as they are interested in buying things at the best possible price. The introduction of connected retail services has offered a convenient means of shopping in accordance with one’s priorities and time. Moreover, retailers are realizing the advantages of connecting with consumers through their smartphones and other digital devices and offering them an interactive shopping experience. Retailers are further making efforts to maintain a close relationship with consumers by constantly providing updates about prices and discounts, product availability, and other services across major consumer touch points.
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The global market for connected retail has been divided on the basis of geography into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the Asia Pacific market for connected retail is estimated to witness rapid growth in the next few years, due to the large presence of manufacturers in the retail industry, especially in China. In addition, a large number of APAC consumers are moving to digital platforms, which is another factor projected to fuel the growth of the connected retail market in this region.
Furthermore, the research report provides a detailed vendor analysis and presents a clear picture of the competitive landscape. Detailed profiles of the leading players have been included in the study to help the existing players and new entrants in formulating their competitive strategies in an effective manner. Some of the prominent players operating in the global market for connected retail are Zebra Technologies Corporation, Cisco Systems, Inc., Intel Corporation, SAP AG, Verizon, IBM, Atmel Corporation, Fujitsu Technology Solutions, Google, Inc., and Microsoft Corporation.