Global Enterprise Mobility in Retail Market - Segmented by Device (Smartphones, Laptops, Tablets) and Region - Growth, Trends, and Forecast (2018 - 2023)
The global enterprise mobility in the retail market is expected to register a CAGR of 25.78% over the forecast period of 2018–2023.
Enterprise mobility describes the scenario of a greater number of employees working outside the office using mobile devices and cloud services to perform business tasks. With the rise of smartphones and tablets a few years ago, the workforce began to shift toward mobility. Mobile applications and social media, especially those connected with cloud computing and offering mobile collaboration features, contributed tremendously to the emergence of enterprise mobility.
Enterprise mobility is particularly popular among companies that depend on field operations and field services to reach the consumers. The retail market is in such best case scenario where most of the operations take place out in the field. The vendors employ typical marketing strategies that are more personalized to grab attention from a group of people in order to make a sale. With increasing number of smartphone users, enterprise mobility stands to be the best solution for reaching the customer faster than ever before providing a brighter outlook to the market in the near future.
Substantial Growth in E-commerce to Spearhead the Growth
E-commerce is the fastest growing retail segment in the world. The increasing levels of mobile and internet penetration globally are providing a suitable environment for the rapid growth of e-commerce. According to the E-commerce Research Center (ECRC), Chia alone employed more than 3 million people in the e-commerce industry as of 2016. While most of the jobs represent the workers at fulfillment centers, it is estimated that the delivery task has gained the second largest job role in the industry. The most significant applications of enterprise mobility in the e-commerce industry include point of sale, inventory management, and consumer relationship management and feedback.
Mobile applications are another great mobility solution to the e-commerce industry. They are in fact the heart of the e-commerce business in the current scenario. They present the retailer with a broad range of opportunities. At the same time, they also give customers an array of incentives, which encourages them to develop loyalty towards an online brand or the vendor. An analysis of history, location, and contextual information can help retailers to make better sales. With increasing turnover of e-commerce globally, vendors are expected to tend more toward enterprise mobility solutions to gain a competitive edge over their rivals leading to a considerable demand in enterprise mobility in the retail market.
Cloud-based Applications are Top Priority
Cloud-based applications are the most beneficial and advanced set of solutions in the enterprise mobility market. The cloud-based applications provide real-time data to the management and flexibility to the sales force. They enable critical functions like sales performance management, which is a base factor for the sales force to award their incentives. Cloud applications in the retail industry are also critical for inventory management and studying consumer trends. This enables the retailers to tailor marketing strategies depending upon the trends in a region.
The cloud options are wide and are capable of serving just about any company, regardless of size and need. Cloud now comes in all shapes and sizes and can be held privately (onsite) or publicly (held by a third party). Many companies now employ a hybrid approach, keeping some data onsite and pushing the rest offsite. According to a recent survey conducted by Enterprise Mobility Exchange, more than 80% of survey respondents said they had not fully migrated to the cloud while just 18% said their enterprise was using the cloud. However, 33% said that they were planning or at least partially moving to the cloud platform, while 37% said it was being considered. Although low penetration levels are affecting the current market situation, increasing awareness will provide a better outlook in the near future.
Key Developments in the Market