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Key Players and Competitive Dynamics in the Connected Retail Market
Connected Retail Market
Forecasted Expansion of the Connected Retail Market by 2030
The connected retail market is poised for rapid growth, expected to reach a valuation of $123.94 billion by 2030. This expansion is predicted to occur at a compound annual growth rate (CAGR) of 19.3%. Several factors contribute to this surge, including the integration of AI-powered personalization, the widespread adoption of IoT-enabled retail systems, the rise of contactless payment methods, increasing demand for data-driven merchandising strategies, and the growth of smart retail stores. Key trends anticipated during this period include seamless omnichannel retail integration, advanced in-store technologies, personalized customer engagement platforms, connected payment and checkout solutions, and real-time inventory management capabilities.
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Key Industry Leaders in the Connected Retail Landscape
The connected retail sector features a robust lineup of influential companies driving innovation and market expansion. Prominent players 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, and DXC Technology Company.
Strategic Acquisition Strengthens Connected Retail Capabilities in Brazil
In July 2023, Omnicom Media Group, a US-based cloud retail media network firm, announced its acquisition of Outpromo and Global Shopper for an undisclosed sum. This move aims to establish a dedicated e-commerce and retail media performance agency within the Brazilian market. Outpromo specializes in omnichannel commerce strategies that integrate brand experiences across physical and digital channels, while Global Shopper is an agency concentrating on connected commerce solutions in Brazil. This acquisition underlines Omnicom's commitment to expanding its footprint and capabilities in Latin America.
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How Innovations Are Shaping the Connected Retail Industry
Industry leaders are focusing on advanced digital solutions that enhance customer engagement and transparency. One such innovation is digital product interaction, enabling shoppers to access comprehensive product information, origin details, and sustainability data through digital systems. This technology helps consumers make more informed purchasing decisions by providing clear, accessible product insights.
A practical example of this innovation occurred in October 2024, when Carrefour SA, a French retail giant, launched "QR Codes powered by GS1" on its private-label wine products. This initiative allows customers to scan codes to receive transparent product and origin information instantly. Additionally, it prepares stores to support point-of-sale compatibility with next-generation 2D symbols that facilitate richer customer interaction and better supply chain visibility.
Detailed Segmentation of the Global Connected Retail Market
The connected retail market is segmented comprehensively to reflect the diversity of components, technologies, applications, and regions. The breakdown is as follows:
By Component:
- Hardware
- Software
- Services
By Technology:
- ZigBee
- NFC (Near Field Communication)
- Bluetooth Low Energy
- Wi-Fi
- Other Technologies
By Application:
- Electronics and Appliances
- Home and Personal Care
- Food and Beverage
- Apparel
- Sporting Goods and Toys
- Other Applications
Further subcategories include specific hardware such as point-of-sale (POS) systems, IoT devices, digital signage, and self-service kiosks. Software segments cover inventory management systems, customer relationship management (CRM) software, analytics and reporting tools, and payment processing software. The services category includes consulting, integration, support and maintenance, and managed services.
This detailed segmentation offers a clear perspective on the various elements fueling growth and innovation within the connected retail market, indicating numerous opportunities for businesses to capitalize on in the coming years.
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