Quadintel published a new report on the Asia Connected Retail Solutions Market. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
The Asia connected retail solutions market is expected to expand at a CAGR of 25.2% during the 2018-2023 period, owing to the rapid adoption of the Internet of Things (IoT), and the huge surge in online shopping.
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A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. The Census Bureau reports the recovery of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market for Asia Connected Retail Solutions Market.
The global market is forecast to witness a rapid growth, owing to increasing demand for technological advancements from end-users. Moreover, increasing investments in research and development activities, launches, partnerships, and other strategic initiatives will benefit the market. Furthermore, the growing focus of authorities towards increasing urbanization and industrialization is forecast to drive the market growth.
COVID-19 Impact Analysis
The pandemic of COVID-19 has also reduced the availability of and demand for non-COVID-19-related medical treatment. A wide range of treatments, including emergency care for acute diseases, routine check-ups, and recommended cancer screenings, are being postponed or avoided by patients. Undiagnosed illnesses and a failure to intervene early will have serious long-term health consequences. COVID-19 has accelerated a variety of existing and emerging healthcare trends, including changing consumer attitudes and habits, the convergence of life science and health care, rapid advances in digital health technologies, and new talent and care delivery models, to name a few.
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Based on application segment insights:
Growing investments to digitize the supply chain process, adoption of omnichannel strategies to integrate both online and offline customer experience, and technological innovations such as IoT, AI, Big Data and blockchain will drive profitability of the market. The supply chain management (SCM) segment will drive a high CAGR (33.1%) during the forecast period. Close on its heels will be the Business Analytics/Business Intelligence segment, anticipated to expand at a CAGR of 25%.
Based on country insights:
In 2018, China represented the largest market share, accounting for 66% of Asias connected retail solutions market revenue. Chinas mega corporations, Alibaba and Tencent, have heralded the era of digital retail by forging partnerships and pursuing acquisitions and organic business creation strategies to introduce a shared retail ecosystem for customers. However, India is anticipated to expand at the highest CAGR during the forecast period owing to its huge smartphone penetration and the presence of diversified digital payment modes.
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Table of Contents:
- Market Overview
- Market Definition and Scope
- Market Dynamics
- Market Industry Analysis
- Market, Regional Analysis
- Analysis of Leading Companies
- Competitive Intelligence
- Research Process
- Market Analysis and Forecast, By Product Types
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