Global Connected Retail Solutions Market to Expand 19.5% CAGR Till 2023
A new report published by Research on Global Markets titled Global Connected Retail Solutions Market (2018 – 2023) studies the performance of the global connected retail solutions market over a five-year assessment period, from 2018 till 2023. The report forecasts the value of the global connected retail solutions market, and provides key insights into the factors driving market growth, as well those restraining it. According to the report, the global connected retail solutions market is projected to expand at a compound annual growth rate (CAGR) of 19.5% during the 2018-2023 period, and will generate a revenue of approximately USD 65.3 Bn by 2023. Technological disruptions such as the Internet of Things (IoT), artificial intelligence and machine learning are the key growth drivers of this market.
The global connected retail solutions market is primarily segmented based on applications.
According to the report, the applications of connected retail solutions are supply chain management (SCM), customer relationship management (CRM), business analysis/business intelligence (BA/BI), and others. SCM-based connected retail solutions are predicted to witness the highest CAGR (32.1%), and generate revenue of USD 22.7 Bn by 2023. The continuous shift from ‘on-shelf availability’ to ‘on-demand availability,’ is putting the onus on retailers to deliver products as per the customers’ choice of time and place. Hence, retailers are constantly on the lookout for solutions to tackle the challenges faced in the supply chain. This continuous pursuit of innovative solutions will drive market growth during the forecasted period, according to Research on Global Markets.
Check out the Research on Global Markets report featured in this article:
Research on Global Markets tracks the performance of the global connected retail solutions market across the key geographies of North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. According to the report, North America is anticipated to be the leading region in the global connected retail solutions market, with a share of 46.8%. However, despite the strong outlook for the North American market, the Asia-Pacific region will witness the highest CAGR of 25.2% during the forecasted period of 2018-2023. China and the ASEAN countries are anticipated to contribute significantly to the growth of the connected retail solutions market in the Asia-Pacific region.
The Research On Global Markets’ report also covers some of the key players operating in the global connected retail solutions market, such as Cisco Systems, Inc., Microsoft Corporation, IBM Corporation, Google, Amazon, SAP SE, Fujitsu Limited, Softweb Solutions, Inc., Intel Corporation, and Honeywell International, Inc.
Key highlights of the report:
- Scope and segmentation of the global connected retail solutions market
- A comprehensive overview of the historical, current and predicted market size, revenue, and market attractiveness analysis
- Market segmentation based on applications - supply chain management (SCM), customer relationship management (CRM), business analysis/business intelligence, and others
- Regional market analysis of North America, Asia-Pacific, Europe, South America, and the Middle East and Africa
- Overview of the competitive landscape and analysis of the key players operating in the industry