Comprehensive Connected Retail Market Insights: Forecasting Size, Growth, and Competitive Trends from 2025 to 2034

Which drivers are expected to have the greatest impact on the over the connected retail market's growth?
The surge in demand from sectors like the food and beverage industry is anticipated to contribute significantly to the expansion of the connected retail market in the future. The term food and beverage industry encompasses all enterprises involved in the processing, packaging, and distribution of raw food. Connected retail empowers these brands to enhance customer interactions providing a uniform brand experience that caters to the customer's tastes. For example, the Food & Drink Federation, a UK-based body that counsels and represents UK food and drink manufacturers, reported in 2023 a 31% increase in food and drink exports in 2022 compared to 2021. Besides, the food and beverages industry recorded a turnover of $3.52 billion (£10.3 billion) in 2022, contributing 33% to the total manufacturing output of Scotland. Therefore, the escalating demand from sectors like the food and beverage industry serves as a key driver propelling the growth of the connected retail market.

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What is the future CAGR of the connected retail market, and how will it impact industry expansion?
The size of the connected retail market has seen accelerated growth lately. The market size is predicted to increase from $43.18 billion in 2024 to $51.71 billion in 2025, with a compound annual growth rate (CAGR) of 19.7%. Factors contributing to this growth in the historic period include the ascendancy of e-commerce, improved customer experience, increasing demand for personalization, influence of social media, optimisation of the supply chain, and the rise of smart stores.

The size of the connected retail market is anticipated to witness quick expansion in the coming years, with projections indicating it will reach "$106.76 billion in 2029. This corresponds to a compound annual growth rate (CAGR) of 19.9%. This growth during the forecasted period is likely due to factors such as the rise of contactless shopping, the acceptance of voice commerce, sustainability issues, integration across different channels, and the introduction of intelligent mirrors and dressing rooms. Key trends for this period comprise of internet of things (IoT) integration, mobile trade and payments, data analysis and artificial intelligence (AI), intelligent shelves and RFID technology, and subscription-oriented models.

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What are the most significant trends transforming the connected retail market today?
The increase of technological developments is a significant trend that is becoming popular in the connected retail industry. Big corporates in this market are leveraging innovative technology to maintain their relevance and stand. An example is when Instacart, a grocery tech company located in the US, initiated connected stores in September 2022. This comprises a combination of new and previous technologies set to assist retailers in fabricating personalized online and in-store experiences. Such innovation enables grocers to produce a consolidated, personalized customer experience by flawlessly integrating their digital platforms with their physical stores.

Which key market segments comprise the connected retail market and drive its revenue growth?
The connected retail market covered in this report is segmented -

1) By Component: Hardware, Software, Services
2) By Technology: ZigBee, NFC (Near Field Communication), Bluetooth Low Energy, Wi-Fi, Other Technologies
3) By Application: Electronics And Appliances, Home And Personal Care, Food And Beverage, Apparel, Sporting Goods And Toys, Other Applications

Subsegments:
1) By Hardware: Point Of Sale (POS) Systems, IoT Devices, Digital Signage, Self-Service Kiosks
2) By Software: Inventory Management Systems, Customer Relationship Management (CRM) Software, Analytics And Reporting Software, Payment Processing Software
3) By Services: Consulting Services, Integration Services, Support And Maintenance Services, Managed Services

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What regions are at the forefront of connected retail market expansion?
North America was the largest region in the connected retail market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global connected retail market during the forecast period. The regions covered in the connected retail market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Who are the leading players fueling growth in the connected retail market?
Major companies operating in the connected retail market include Microsoft Corporation, Zebra Technologies Corporation, Intel Corporation, PTC Inc., SAP SE, Cisco Systems Inc., International Business Machines Corporation, Google LLC, NXP Semiconductors N.V., Softweb Solutions Inc., Honeywell International Inc., Sonata Software Limited, iVend Retail, Avanade Inc., Fujitsu Limited, Verizon Enterprise Solutions, Amazon Inc., ARM Holdings PLC., Belatrix Software Private Limited, Samsung Electronics Co. Ltd., Toshiba Corporation, Siemens AG, Wipro Limited, accenture* plc, Capgemini SE, Infosys Limited, NEC Corporation, Tata Consultancy Services Limited, DXC Technology Company

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What Is Covered In The Connected Retail Global Market Report?

• Market Size Forecast: Examine the connected retail market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the connected retail market for a structured understanding.
• Key Players Overview: Analyze major players in the connected retail market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the connected retail market.
• Segment Contributions: Evaluate how different segments drive overall growth in the connected retail market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the connected retail market.
• Industry Challenges: Identify potential risks and obstacles affecting the connected retail market.
• Competitive Landscape: Review strategic developments in the connected retail market, including expansions, agreements, and new product launches.

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