Press release
Connected Retail Market: Rapid Growth of Online Shopping Escalating Demand
Browse The Report: https://www.transparencymarketresearch.com/connected-retail-market.html
The analysts of the report have evaluated that the global connected retail market was worth merely US$16.30 billion in 2016 and US$19.46 billion in 2017, but the future prospects are enormous with the valuation of the market estimated reach US$82.31 billion by the end of 2025. During the forecast period of 2017 to 2025, the demand in the global connected retail market is projected to increment at a phenomenal CAGR of 19.8%.
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“For the market leaders to stay ahead of the curve, product innovation is paramount,” suggests the lead analyst of the report. Nearly every major player of the global connected retail market are International vendors of technology and investment on the research and development of innovative products is their primary focus. However, there are strong possibilities of new entrants making a mark in this market too via niche approaches and hence, activities of mergers and acquisitions are highly anticipated in the near future.
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The global connected retail market is mainly driven by the increasing adoption of the IoT across retail industries. Additionally, rapid growth in online shopping is another major driver of the market. The Internet of things (IoT) are focused upon innovation and are generating new opportunities by bringing consumers and every object into the digital realm. Application of the IoT in the retail industry will provide real-time insights from connected stores, combined with cognitive computing and rich data, which will transform the in-store experience and streamline the operations. The increasing penetration of smartphones has become the hub of interaction between customers and retailers.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations
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