Connected Retail Market By Component (Hardware, Software, Services), By Technology (Zigbee, NFC, Bluetooth Low Energy, Wi-Fi, Other), By End-User (Electronics And Appliances, Beauty, Home And Personal Care, Food And Beverage, Apparel, Footwear And Accessories, Home Goods, Sporting Goods And Toys, Other) - Growth, Future Prospects, And Competitive Analysis, 2019 – 2027

Changing Consumer Experiences for Online Shopping Has Increased the Demand for Connected Retail Market

Globally, the connected retail market is expected to grow with a CAGR of 20.6% during the forecast period from 2019 to 2027 and registered a market value of US$ 15.40 Bn in 2018. Connected retail is defined as a connection between the customer and the retail stores with the help supply chain, personalized marketing, varied payment options, a combination of the physical store and digital experience, and allowing employees to collaborate more effectively.

Various companies have developed a connected retail environment for the customers by providing the store's location where their product is being delivered and allowing the individuals to pick up their returned products at any time. The advancement in technology has increased the adoption of different technologies among individuals leading to an increase in their comfort zone. The connected retail allows the users to transfer the amount within a fraction of a second with the help of a mobile laptop or any other device, which saves their time. Moreover, the increasing interest in online shopping among users is also driving the global market.

Market Synopsis

Connected Retail with Hardware in its Component Segment Continue Dominating the Market

In 2018, the overall connected retail market was led by the hardware segment contributing to a high percentage of the market share of more than 35.0% and is expected to grow with a significant CAGR during the forecast period. The increasing demand for IoT-connected devices in the retail market is one of the major factors driving the connected retail market across the globe. In addition, with the rising need for higher work efficiency and accuracy, the hardware components are being used for tracking the inventory.

North America Dominates the Market by Region

North America dominated the global connected retail market with a market share of more than 30.0% in 2018. The rapid expansion of IoT devices in the region is one factor driving the market. In addition, various regional companies, such as IBM Corporation, Cisco Systems, Intel Corporation, and others, offer different solutions and services to enhance the productivity and functionality of the retail store. This helps reduce the cost and enhance the customer experience, driving the region's market.

Some of the prominent players operating in the connected retail are Verizon, Cisco Systems, IBM Corporation, ARM Holding PLC, Belatrix Software, Softweb Solutions Inc., Google Inc., Atmel Corporation, Microsoft Corporation, Honeywell International Inc., Intel Corporation, NXP Semiconductors NV, Zebra Technologies Corp., SAP SE, Fujitsu Limited, and PTC Inc.

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The connected retail market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global connected retail market based on component, technology, end-user, and geography.

Frequently Asked Questions

The market for Connected Retail is expected to reach US$ 15.40 Bn in 2027.

The Connected Retail market is expected to see significant CAGR growth over the coming years, at 20.6%.

The report is forecasted from 2019-2027.

The base year of this report is 2018.

Cisco Systems, Verizon, IBM Corporation, Belatrix Software, ARM Holding PLC, Softweb Solutions Inc., Atmel Corporation, Google Inc., Microsoft Corporation, Intel Corporation are some of the major players in the global market.

Choose License Type
Trusted By
Published Date:  Dec 2019
Category:  Technology & Media
Report ID:   60116
Report Format:   PDF
Pages:   120
Rating:    4.2 (49)
Delivery Time: 24 Hours to 48 Hours   
Connect With Us
24/7 Research Support