Microsoft and Verizon Communication boost North America Connected Retail

Posted by Deeksha on November 22nd, 2019

North America connected retail solutions provide better aspects in retail marketing such as better customer engagement, reduced costs and higher profits. Innovative digital technologies have generated new and powerful selling opportunities in retail segment. An intelligence report titled, “North America Connected Retail Solutions Market (2018-2023) Share, Scope, Revenue, Trends, Drivers, Challenges, Segmentation based on Application (SCM, CRM, BA/BI, Others) and Geography (United States, Canada)” is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository.

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Many factors including enhanced internet penetration rates, rapid IoT adoption, omnichannel strategies for online and offline mediums and presence of innovative technologies including Big Data, IoT and AI are positively influencing the North America connected retail solutions market. This market is growing fast and is anticipated to grow at 17.84% CAGR during the forecast period 2018-2023 owing to growing internet penetration in the region along with enhanced use of smartphones. Supply chain management segment is witnessing rapid growth and is expected to grow at high CAGR of 34.20% for the forecast period. It is followed by customer relationship management segment with growth rate of 25.30% CAGR.

Canada to grow at highest CAGR

Connected retail solutions are reshaping the retail experience in numerous ways including interactive display technology, smart mirrors and video technology. Interactive display technology shares various information about product and promotions on smart phones. Smart mirrors are installed customer counters and fitting rooms to enable style preview. Various analytical data that include customer flow, demographics and customer interest is assessed using video technology.

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United States generated 93.35% of North America connected retail solutions market revenue in 2018 owing to the presence of mega corporations including Microsoft and Verizon Communications that encourage digital retail. These companies have expanded the US market presence in connected retail with acquisitions, partnerships and organic business creation strategies. Canada is expected to grow at highest CAGR in the forecast period as the population in the region have high disposable income and also the smart phone adoption rate is very high.

Major companies profiled in North America connected retail solutions market include Cisco Systems, IB, Intel, Verizon Communications and Microsoft.

North America connected retail solution market: Report Synopsis

Quantitative and qualitative assessment exhort intelligence and overarching report on the North America connected retail solution market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the North America connected retail solution market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on North America connected retail solution.

An insightful and deep-dive assessment of the competitive assessment of the North America connected retail solution market pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the North America connected retail solution market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.

North America connected retail solution market: Research Methodology

Primary sources and secondary sources propel intelligence report on North America connected retail solution market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.