Press release
Connected Retail Market Insights, Forecast to 2030 | Valuates Reports
Connected Retail MarketThe global Connected Retail market size is projected to reach US$ 44410 million by 2028, from US$ 20910 million in 2021, at a CAGR of 11.2% during 2022-2028. Key drivers of the connected retail market include the rapid digitization and proliferation of IoT-connected devices in the retail industry.
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Report Scope
Connected retail promotes easy collaboration between various stakeholders and decreases operating costs by following a lean structure. The pandemic-fueled rise of digitization has changed consumer buying habits completely. Smartphones, wearables, tablets, and portable connected devices are penetrating the retail industry. This will expand the growth of the connected retail market during the forecast period. The use of sensors through retail IoT devices helps in data collecting, gathering, and gaining information on the entire product lifecycle which gives detailed insights to managers for making informed decisions and improving the consumer experience. The connected machines collect crucial data both from in-store purchases and online websites to drive resiliency and efficiency. Nowadays, a customer's buying journey is very complex. Sensors can accurately track and analyze their habits so that content managers can introduce hypersegmentation practices and create a personalized shopping experience for customers. It also helps in optimizing product usage and maintenance. Connected retail can track other vital metrics like customer wait time at counters to make the shopping experience convenient, fun, and memorable. Moreover, IoT devices like drones monitor inventories and fastrack the warehouse management process.
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Segment by Type
• Hardware
• Software
Segment by Application
• Industrial
• Enterprise
By Companies
Zebra technologies
Softweb Solutions
SAP
PTC Inc
Microsoft
Intel
IBM
Cisco Systems
Atmel
ARM
Brands
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