The Connected Retail Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of ****** market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Furthermore, it sheds light on the market contribution, recent developments and successful marketing strategies of leading companies.
****** connected retail market size was estimated at USD 11.17 billion in 2014. Technological advancements coupled with increasing numbers of IoT that is Internet of Things applications across the retail sector are estimated to drive the growth for the connected retail market. The industry has progressed significantly in the recent past due to numerous new technological advancements. Internet of things is the concept principally for connecting any device such as coffee makers, washing machines, wearable devices, cell phones, headphones, lamps, and several other things with an on & off switch for the internet connection. The technology is expected to generate opportunities in retail sector by providing advance fraud & theft prevention solutions and inventory management. Moreover, it offers solutions to improve communication between customers and retailers.
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BLE that is Bluetooth Low Energy segment is estimated to witness positive growth in the near future due to a surge in installation and technology usage. Bluetooth low energy transmits less data for smaller distances and uses less power compared to Bluetooth. The marketing & retail payments verticals are more and more using BLE technology which is leading to customer loyalty, improved sales, and acquisition. BLE has increased customer engagement & marketing, in its application increasing contactless payments easier. Rapid drop in the components costs such as RFID sensors and tags has positive Impact on the industry growth. Declining RFID cost has increased the demand for RFID components across the retail segment to curtail fraud and theft. Issues pertaining to privacy & security and lack of standards related to IoT are estimated to hamper industry growth over the next eight year period.
Hardware segment ruled the connected retail market in the recent past. The segment had over 60% of the total market revenue share in 2015, due to the increase in connected devices proliferation at consumer & retailer levels. Furthermore, hardware growth is enhanced by IoT including communication chips and sensors. RFID amongst hardware components is projected to grow at over 23% CAGR. Increase in RFID components adoption in retail owing several advantages they offer which include monitoring customer behavior, preventing theft & fraud, inventory management, and preventing loss. NFC technology is estimated to witness growth at a 22%CAGR due to increasing in cashless payments adaption in the industry. It has several advantageous properties such as security, versatility, and ease-of-use.
Connected Retail Solution Outlook (Revenue, USD Million, 2012 – 2022)
Connected Retail Technology Outlook (Revenue, USD Million, 2012 – 2022)
- Bluetooth LE
Connected Retail Service Outlook (Revenue, USD Million, 2012 – 2022)
- Managed service
- Professional service
- Remote device management service
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Key Players Analysis covered in these report
- Zebra Technologies Corporation
- SAP AG
- Softweb Solutions
- Cisco Systems
- NXP Semiconductors
- Atmel Corporation and many others
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