Interactive Applications boost Asia Connected Retail Solutions Market

Posted by Deeksha on November 21st, 2019

Retail ecosystem involves interconnected value chain components like consumers, partners and retailers. Connected retail solutions are gaining popularity in Asia as the consumers have turned tech savvy. Such solutions provide better customer satisfaction and market penetration to the retail giants. An intelligence report titled, “Asia Connected Retail Solutions Market (2018-2023) Share, Scope, Revenue, Trends, Drivers, Challenges, Segmentation based on Application (SCM, CRM, BA/BI, Others) and Geography (China, India, South Korea, Rest of Asia)” 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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Artificial Intelligence (AI) impacts the retail ecosystem in two major ways that include chat bots and smart speakers. Voice controlled shipping is on a rise and this boosts the Asian connected retail solutions market. Interactive applications like chat bots are taking shape as central technology in lives of people and retail businesses as they provide opportunities to enhance and personalize the shopping experience of online customer. Investments are pouring in for various activities including digitalization of processes in retail supply chain, omni channels strategies adoption and technological innovations that constitute connected retail solution.

Asia owned larger revenue share

Asia connected retail solutions market is expected to grow at 25.2% CAGR in the forecast period 2018-2023. This growth is imparted by different factors that include rise in Internet of Things adoption and surge in online shopping. Supply chain management segment of connected retail solutions is anticipated to grow at 33.1% CAGR for the forecast period, whereas Business analytics intelligence segment is forecasted to grow at 25% CAGR for the same period.

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China dominated Asia in 2018 with 66% of the connected retail solution revenue. Presence of retail giants such as Alibaba and Tencent are hugely responsible for its dominance. They partnered and collaborated to expand their business and introduced the concept of shared retail ecosystem. India is the upcoming market of connected retails solutions owing to the increased smartphone usage existence of many prominent digital payment modes.

Other major companies profiled in Asia connected retail solutions market include Cisco Systems, IBM, Samsung Electronics, Intel and Microsoft.

Asia connected retail solutions market: Report Synopsis

Quantitative and qualitative assessment exhort intelligence and overarching report on the Asia connected retail solutions market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the Asia connected retail solutions 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 Asia connected retail solutions.

An insightful and deep-dive assessment of the competitive assessment of the Asia connected retail solutions 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 Asia connected retail solutions market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.

Asia connected retail solutions market: Research Methodology

Primary sources and secondary sources propel intelligence report on Asia connected retail solutions 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.

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