Connected Retail Market Estimates, Share, Vendors, Growth Rate
Forecast 2012-2022
“Global 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.”
Global 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.
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.
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