Physical-Digital Integration Market: Introduction
With innovations in technology in the past decade, there is a transition observed in the way consumers perceive about things, the way they interact & their mode of interaction. A preference for digitalization is now observed over physical interactions. This transition is further complimented by the introduction of internet of things (IoT) as the perks provided by digitalization enable a seamless experience for the customers, efficiently connecting the physical world digitally. As technology advances, it is expected that the adoption of IoT, AR & VR and similar technology is further going to rise, in the next decade and a physical-digital integration will be effectively accomplished.
The applications of physical-digital integration are observed in various industries such as retail, healthcare, defense and security, industrial etc. Out of all, maximum adoption of physical-digital integration has been witnessed in retail sector as it simplicities consumer interaction by enabling a seamless experience.
Physical-Digital Integration Market: Drivers and Challenges
The primary driver for Physical-Digital Integration market is the increased affinity towards digitalization with an increasing adoption of smart phones and tablets. Physical-digital integration’s market is further driven by the introduction of technologies such as IoT, AR & VR, automation etc. Factors such as easy implementation, enhanced customer experience, fast processing and increased accuracy have led to the transition towards digitalization resulting into physical-digital integration. Applications of physical-digital integration in various industries, furthermore, drives the growth of its market.
Factors such as data breaches, complexity and difficulties in the management of back-end activities are restraining the growth of physical-digital integration market.
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Physical-Digital Integration Market: Segmentation
Segmentation of Physical-Digital Integration Market on the basis of Industry:
On the basis of industry, the segmentation enables information about the applications of Physical-Digital Integrations across various industries.
- Defense & Security
- Media & Entertainment
Physical-Digital Integration Market: Regional Overview
By geography, Physical-Digital Integration market can be segmented into the following regions namely North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and Middle East & Africa. Among various regions, the Physical-Digital Integration’s Market in North America is expected to hold the majority of share during the forecast period owing to the increasing innovations and increased adoption of technology in the region. Market in Asia Pacific is expected to increase at the fast rate because of the increasing adoption of smart phones and tablets in the region.
Physical-Digital Integration Market: Key Trends
Integration of physical world with the digital, with the introduction of internet of things (IoT) is the key trend governing the growth of physical-digital integration’s market.
Physical-Digital Integration Market: Competitive Landscape
Some of the key players enabling Physical-Digital Integrations are Cognizant Technology Solutions Corp., IBM Corporation, Infor Global Solutions, Inc., Infosys Ltd., Oracle Corporation, Salesforce.com, Inc., SAP SE and Toshiba Corporation.