Asia Connected Retail Solutions Market to Expand at 25.2% CAGR Till 2023
Research On Global Markets has announced the addition of a market research report titled “Asia Connected Retail Solutions Market (2018-2023)” to their offering. According to the report, the Asia connected retail solutions market is expected to expand at a CAGR of 25.2% during the forecasted period, driven primarily by the rapid adoption of the Internet of Things (IoT), and the massive popularity of online shopping.
The research report published by Research On Global Markets features a comprehensive analysis of the connected retail solutions market in Asia based on application. In terms of application, the supply chain management (SCM) segment is anticipated to witness the highest CAGR (33.1%) during the forecasted period. Close on its heels will be the business analytics/business intelligence (BA/BI) segment, which is expected to expand at a CAGR of 25%. Increasing investments in digitizing supply chain processes, adoption of omnichannel strategies to integrate customers’ online and offline experiences, and innovations like IoT, AI, Big Data, and Blockchain are expected to drive the growth of the market.
Research On Global Markets tracks the performance of the connected retail solutions market across the key geographies of Asia. In 2018, China garnered the largest market share, accounting for 66% of the revenue of the Asia connected retail solutions market. In China, mega corporations like Alibaba and Tencent have ushered in the era of digital retail. This is being done through partnerships, and by pursuing acquisitions and organic business creation strategies, to introduce a shared retail ecosystem for customers. The market in India is expected to expand at a relatively higher CAGR during the forecast period, owing to rapid smartphone penetration, and the availability of several modes of digital payments.
Research On Global Markets tracks the performance of the major players operating in the Asia connected retail solutions market including Cisco Systems, Samsung Electronics, IBM, Intel and Microsoft, among others.
Key highlights of this report:
- Asia connected retail solutions market – overview
- Asia connected retail solutions market revenue (USD Bn)
- Forecasted Asia connected retail solutions market revenue (USD Bn)
- Country-wise market revenue (USD Bn)
- Market trends
- Market drivers
- Market challenges
- Asia connected retail solutions market – Segment Insights
- Analysis of the competitive landscape
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for connected retail solutions in Asia to determine the viability of the market, develop strategies based on the drivers, and to help brands identify competition and respond accordingly.