The real time store monitoring platform market may record steadfast growth in the forecast period of 2019-2028 on the back of the associated advantages such as prevention of consumer data loss, vendor fraud detection, identification of internal theft, etc. Real time store monitoring platforms are used by multichannel retailers primarily for efficient data management and for gaining a competitive edge in multichannel execution. The real time store monitoring platform enables proper viewing of all the store activity on a day-to-day basis and provides clear data on store performance.
The ongoing report on the real time store monitoring platform market analyses and displays a wide range of possibilities that can place the market shareholder on the path of growth even during unprecedented situations like COVID-19 pandemic. The report sheds light on vital components important for boosting the growth of the real time store monitoring platform market such as ongoing trends, competitive assessment, and regional outlook. The report presents an expert microanalysis of every aspect that can influence the growth rate of the real time store monitoring platform market positively.
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Real Time Store Monitoring Platform Market: Competitive Analysis
The real time store monitoring platform market is extremely competitive with many key players in the fray for acquiring the top place in the pyramid of well-established names. The players involved in the real time store monitoring platform market invest hugely in extensive research and development activities for achieving this goal. Mergers, acquisitions, collaborations, joint ventures, and partnerships also take place frequently for strengthening the market position. This aspect eventually benefits the real time store monitoring platform market in terms of growth.
- Renmark Holdings recently partnered with Chinese systems integrator, Hanvon Technology, for transformation of China Mobile’s 17,800 corporate stores into smart retail stores.
- Checkpoint systems launched a new system to assist retailers in viewing in-store occupancy. Employees and managers can access the information via cloud-based technology on tablets or any other device connected with the software.
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Real Time Store Monitoring Platform Market: Key Trends
With cashier-less stores like Amazon Go gaining traction across the world, the real time store monitoring platforms play an important role in managing these types of stores. Observing the growing trend of such stores, startups are coming up with novel real time store monitoring platforms that support efficient cashier-less monitoring. For instance, Grabango, a startup has launched a real time store monitoring platform where the products in the store picked by the consumers are tracked through computer vision technology. While a consumer leaves a store, it automatically tallies the items and enables payment through the Grabango app, eliminating the need for cashier payment. Such technologies in the real time store monitoring platform market may gain considerable momentum in the near future.
The use of real time store monitoring platforms for dynamic pricing of the products through analyzing the overall market scenario is also picking pace as a vital feature. Price monitoring tools equipped in the real time store monitoring platforms are rapidly acquiring a place of importance as highlighters that convince an enduser for purchasing. Improving the overall store experience by providing offers and promotions on the basis of customer preference may also bring good growth opportunities for the real time store monitoring platform market.
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Real Time Store Monitoring Platform Market: Regional Assessment
The real time store monitoring platform market is geographically segmented into Latin America, the Middle East and Africa, North America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), and Japan. North America may serve as a growth leader for the real time store monitoring platform market owing to the rising number of cashless stores across the region and the growing influence of technology in the retail sector.
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