The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The growing need from end users, such as the food and beverage industry, is likely to drive the connected retail market ahead.

The global connected retail market is expected to grow from $30.05 billion in 2022 to $36.41 billion in 2023 at a compound annual growth rate (CAGR) of 21.2%.  The market is expected to reach $74.38 billion in 2027 at a CAGR of 19.6%.

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Global Connected Retail Market Segments Include:

• 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
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global connected retail market in 2021.

Major Market Players in the connected retail market include Microsoft Corporation, Zebra Technologies Corporation, Intel Corporation, PTC Inc., SAP AG, Cisco Systems Inc., International Business Machines Corporation, Google Inc.

Technological developments are a major trend that is gaining traction in the connected retail business. To maintain their market position, major players in the connected retail market are implementing new technology. For example, Instacart, a grocery technology firm located in the United States, released connected stores in September 2022, a suite of new and existing technologies aimed at assisting retailers in creating a personalised experience both online and in-store. By seamlessly integrating their app or website with the physical, in-store experience, grocers can provide a unified, personalised experience for customers.

The Connected Retail Global Market Report 2023  provides a connected retail market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The connected retail market forecast analyzes connected retail market size, connected retail market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The integration of multiple digital technologies and platforms to create a seamless and unified purchasing experience for consumers across online and physical channels is referred to as connected retail. It is used to link businesses with customers more smoothly by employing personalised marketing, integrating the analogue and digital purchasing experiences, improving the supply chain, providing a range of payment alternatives, and providing workers with the resources they need to cooperate more efficiently.

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