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Monday, October 21, 2019

AI Deep Learning Transforms Industrial Manufacturing

Artificial Intelligence (AI) has been portrayed as a technology that can revolutionize the industrial manufacturing sector. The sentiment is somewhat valid, but the scenario is complex. AI in industrial manufacturing is a collection of use cases at different phases of the manufacturing process.

According to the latest worldwide market study by ABI Research, the total installed base of AI-enabled devices in industrial manufacturing will reach 15.4 million in 2024 -- with a CAGR of 64.8 percent from 2019 to 2024.

Artifical Intelligence Market Development

"AI in industrial manufacturing is a story of edge implementation," said Lian Jye Su, principal analyst at ABI Research. "Since manufacturers are not comfortable having their data transferred to a public cloud, nearly all industrial AI training and inference workloads happen at the edge, namely on device, gateways and on-premise servers."

To facilitate this, AI chipset manufacturers and server vendors have designed AI-enabled servers specifically for industrial manufacturing. More and more industrial infrastructure is equipped with AI software or dedicated AI chipsets to perform AI inference.

Despite these solutions and the wealth of data in the manufacturing environment, the implementation of AI in industrial manufacturing has not been as easy as expected. Among all the industrial use cases, predictive maintenance and equipment monitoring are the most commercially implemented so far, due to the maturity of associated AI models.

The total installed base for these two use cases alone is expected to reach 9.8 million and 6.7 million, respectively, by 2024. It is important to note that many of these AI-enabled industrial devices support multiple use cases on the same device due to advancements in AI chipsets.

Another commercial use case currently gaining momentum is defect inspection. The total installed base for this use case is expected to grow from 300,000 in 2019 to over 3.7 million by 2024.

This is a use case that is popular in electronic and semiconductor production, where major manufacturers have been partnering with AI chipset and software vendors to develop AI-based machine vision to perform surface, leak and component-level defect detection, microparticle detection, geometric measurement, and classification.

Conventional machine vision technology remains popular in the manufacturing factory, due to its proven repeatability, reliability, and stability. However, the emergence of AI deep learning technologies opens the possibility of expanded capabilities and flexibility.

These AI algorithms can pick up unexpected product abnormalities or defects, go beyond existing issues and uncover valuable new insights for manufacturers.

Outlook for Industrial Manufacturing AI Applications

At the moment, manufacturers are facing significant competition in building and training in-house data science teams for AI implementation. Most AI experts prefer to work with webscale giants or AI startups, making talent acquisition a challenging task for industrial manufacturers.

"As such, they are left with one viable option, which consists of partnering with other players in the AI ecosystem, including cloud service providers, pure-play AI startups, system integrators, chipset and industrial server manufacturers, and connectivity service providers. The diversity in AI use cases necessitates the creation of partnerships," Su concludes.

Friday, October 18, 2019

Mobile Financial Services Upside in Emerging Markets

Across the globe, millions of people don't have a bank account -- they're the 'unbanked' masses. Mobile Financial Services (MFS) are alternative financial instruments that allow individuals, without an account at a traditional banking institution, to engage in financial activity via their mobile device -- such as a low-cost smartphone or media tablet.

Since the inception of 'mobile money' services from the telecom provider in Kenya over ten years ago, these solutions have been instrumental in enabling financial inclusion in emerging markets, where large segments of the population have been unserved, or underserved, by traditional banks.

Mobile Financial Services Market Development

With the ability to reach anyone who owns a mobile device and the benefit of rolling out cost-effective agent networks, MFS players have managed to fill a gap which has been a challenge for traditional financial institutions within emerging markets.

According to the latest worldwide market study by Juniper Research, the total transaction value of the MFS market will exceed $1 trillion by 2024 -- that's rising from $580 billion of current transaction value in 2019.

This is a growth of 70 percent and equally promising as the fintech market in mature markets. The upside potential for MFS is significant. Juniper analysts identified a range of untapped opportunities in Latin America for services such as microfinance, microloans and money transfer, as a key driver of MFS growth over the next five years.


Juniper forecasts that the total number of users accessing MFS in Latin America will grow 20 percent on average annually over the next five years. This is predicted to grow twice as fast as saturated markets such as Africa and the Middle East.

In response to the findings of their study, Juniper has urged the mobile financial service vendors to leverage the existing relationships and launch new innovative services in these underserved markets.

It also forecasts that the number of MFS users in all emerging markets will reach 1.2 billion by 2024 -- growing from 890 million in 2019. Africa and the Middle East will account for over 600 million users alone by 2024 -- owing to the high reliance on mobile devices for banking services.

Outlook for MFS Growth in Emerging Markets

According to the Juniper assessment, CICO (Cash In, Cash Out) transactions will be the largest driver of growth for the MFS market -- exceeding a value of $590 billion by 2024. CICO allows users to access traditional banking services, such as deposits and withdrawals, via mobile devices.

Juniper has also encouraged MFS providers to expand their agent networks to rapidly grow their customer bases. It also forecasts that fostering confidence amongst users for CICO transactions will lead to the increased adoption of more comprehensive MFS products, such as microloans and microinsurance, in the future.

Monday, October 14, 2019

AI Developers Drive New Demand for IT Vendor Services

Preparing for the adoption of new technologies is challenging for many large enterprise organizations. That's why savvy CIOs and CTOs seek information and guidance from vendors that can assist them on the journey to achieve digital business transformation. Meanwhile, investment in artificial intelligence (AI) systems and services will continue on a high-growth trajectory.

According to the latest worldwide market study by International Data Corporation (IDC), spending on AI systems will reach $97.9 billion in 2023 -- that's more than two and a half times the $37.5 billion that will be spent in 2019. The compound annual growth rate (CAGR) for AI in the 2018-2023 forecast period will be 28.4 percent.

Artificial Intelligence Market Development

"The AI market continues to grow at a steady rate in 2019 and we expect this momentum to carry forward," said David Schubmehl, research director at IDC. "The use of artificial intelligence and machine learning (ML) is occurring in a wide range of solutions and applications from ERP and manufacturing software to content management, collaboration, and user productivity."

Artificial intelligence and machine learning are top of mind for most organizations today, and IDC expects that AI will be the disrupting influence changing entire industries over the next decade.

Spending on AI systems will be led by the retail and banking industries, each of which will invest more than $5 billion in 2019. Nearly half of the retail spending will go toward automated customer service agents and expert shopping advisors & product recommendation systems. The banking industry will focus its investments on automated threat intelligence and prevention systems and fraud analysis and investigation.

Other industries that will make significant investments in AI systems throughout the forecast include discrete manufacturing, process manufacturing, healthcare, and professional services. The fastest spending growth will come from the media industry and federal or central governments with five-year CAGRs of 33.7 percent and 33.6 percent respectively.


Investments in AI systems continue to be driven by a wide range of use cases. The three largest use cases -- automated customer service agents, automated threat intelligence and prevention systems, and sales process recommendation and automation -- will deliver 25 percent of all spending in 2019. The next six use cases will provide an additional 35 percent of overall spending this year.

The use cases that will see the fastest spending growth over the 2018-2023 forecast period are automated human resources (43.3 percent CAGR) and pharmaceutical research and development (36.7 percent CAGR). However, eight other use cases will have spending growth with five-year CAGRs greater than 30 percent.

Decision-makers across all industries are now grappling with the question of how to effectively proceed with their AI journey.  That's why the largest share of technology spending in 2019 will go toward services, primarily IT services, as firms seek outside expertise to design and implement their AI projects.

Hardware spending will be somewhat larger than software spending in 2019 as firms build out their AI infrastructure, but purchases of AI software and AI software platforms will overtake hardware by the end of the forecast period with software spending seeing a 36.7 percent CAGR.

Outlook for AI Applications Development Growth

On a geographic basis, the United States will deliver more than 50 percent of all AI applications development spending throughout the forecast period, led by the retail and banking industries. Western Europe will be the second-largest geographic region, led by banking and discrete manufacturing.

China will be the third-largest region for AI spending with retail, state or local government, and professional services vying for the top position. The strongest spending growth over the five-year forecast period will be in Japan (45.3 percent CAGR) and China (44.9 percent CAGR).

Friday, October 11, 2019

Digital Transformation Raised the Bar for Skilled Talent

More CEOs have now voiced concerns that their workforce is not ready for the implications of digital business transformation trends. Few believe that their HR team is capable of reimagining the future of work to drive high-performance across the organization.

Just imagine, 45 percent of managers say they don’t feel confident in their ability to develop the skills employees need to succeed. In addition, managers lack time to coach their direct reports -- they're spending on average 9 percent of their time on skills development.

Bridging the Digital Skills Gap

Employee skill development challenges are particularly problematic in a multi-generational work environment. Millennials report wanting feedback 50 percent more often than other employees -- a Gartner survey found that more than 70 percent of HR executives believe that managers should get more involved in coaching employees compared with three years ago.

"Today’s organizations are undergoing a digital transformation that directly impacts how they do business, and they are finding a significant skills gap within their workforces," said Jaime Roca, senior vice president at Gartner. "Our research found that 70 percent of employees have not mastered the skills they need for their jobs today, let alone the skills needed for their future roles."

Organizations that are most successful at developing their employees have focused on cultivating what Gartner calls 'Connector managers', who are able to connect employees to the right people and resources at the right time. In fact, Connector managers boost employee performance by up to 26 percent and more than triple the likelihood that their employees will be high performers.

Connector managers achieve unparalleled performance from their direct reports by making three essential connections:

Employee Connection

The employee connection involves all the individual interactions managers have with their employees, including providing direct feedback, coaching and sharing performance expectations. Connector managers anchor their time in active listening and asking questions that build trust and help them understand employee context.

Developing a deep and rich upfront relationship with employees helps managers accurately identify needs, interests and aspirations, and this upfront investment ensures that Connectors provide more targeted development at the right times and on the right skill needs.

Team Connection

Gartner research reveals that approximately one-quarter of employees already count on teammates as a primary source of feedback. However, while most employees are willing to share knowledge and discuss strengths with their peers, very few are willing and open to sharing their skill gaps.

Making the team connection relies more on a manager crafting an open environment for skill sharing to occur organically, not the manager’s ability to explicitly match employees for coaching. Connector managers start building this team ecosystem by leveraging the intelligence they gather during the employee connection.

Their foundational understanding of what drives and motivates each employee allows them to tailor the broader team environment to match employees’ individual motivators -- and create a productive and trusting space.

Organization Connection

Connector managers help their employees build bridges across and outside of the enterprise to make the best -- not just the most -- connections. To do this, managers must give employees visibility into skills across the organization and help them prepare to extract value from each exchange and reflect on lessons learned after the fact.

While external connections are one good option for best-fit development, in many organizations, it is equally possible to find these sources internally. Ultimately, the organization connection does not require a large internal or external network.

Connectors are resourceful and become 'mapmakers' for their employees, helping them determine how and where they can identify 'best-fit' connections inside and outside the organization.

"The role of the manager in coaching and developing people has rightfully become a high priority for organizations today as they navigate an environment of heightened change and complexity," said Mr. Roca.

Regardless of industry, function or region, Connector managers can increase employee willingness to go above and beyond by up to 38 percent and can improve employee engagement by up to 40 percent.

Monday, October 07, 2019

Wireless Technology Trends will Fuel New IoT Apps

Wireless communications technology continues to transform the telecom landscape. Projected growth across the smart home, wearables, beacons, healthcare, smart cities, automotive, and commercial building automation, will help accelerate the Wi-Fi and Bluetooth share of device shipments.

According to the latest worldwide market study by ABI Research, Internet of Things (IoT) end markets will represent 31 percent of total Bluetooth and 27 percent of Wi-Fi device shipments in 2024 -- that's up from 13 percent and 10 percent respectively in 2018.

Wireless Technology Market Development

Smartphones will continue to be important markets for both Wi-Fi and Bluetooth, however, when it comes to the Bluetooth shipments, the IoT market is expected to overtake the smartphone market for the first time in 2024 as its share of the market falls to less than 30 percent.

Furthermore, the share of smartphones as a proportion of Wi-Fi device shipments is also set to fall below 40 percent by 2024.

"Bluetooth will continue to grow in other areas, such as speakers, headsets, mobile and PC accessories, and both technologies will continue to push into other consumer electronics devices such as connected toys and home entertainment. However, the IoT is beginning to take an increasingly significant share of the market," said Andrew Zignani, principal analyst at ABI Research.

Key IoT opportunities for Bluetooth are asset management and location services in devices such as beacons and personal trackers. These devices are anticipated to grow from around 2 percent of the Bluetooth market in 2018 to over 8.5 percent by 2024.

Bluetooth enabled wearable devices are also expected to break the 400 million device barrier by 2024, with increased traction in smartwatches, activity trackers, smart clothing, and hearables. Also, Wi-Fi-enabled wearables are expected to reach over 250 million units by this time.

The smart home will be one of the fastest-growing markets for both Wi-Fi and Bluetooth technologies. Wi-Fi-enabled smart home devices are expected to grow from 5 percent in 2018 to nearly 16 percent by 2024 and Bluetooth will rise from 4 percent to 13 percent in the same forecast period, with traction in voice-control front ends, smart appliances, smart lighting, sensor devices, video cameras, and others.

From a Wi-Fi perspective, Wi-Fi 6 has great potential within the IoT space, thanks to new enhancements such as target wake time, OFDMA, and narrowband implementations. However, ABI Research believes that the transition away from 802.11n in favor of Wi-Fi 6 will take some time.

According to the ABI assessment, 802.11n is a very well-established technology available at very low cost from a wide number of vendors while new chipsets driving down power consumption are continuing to arrive at the market. Many industry players are still having product discussions leveraging 802.11n and expect this to continue for some time.

In addition, some regions, such as China, are more conservative on newer technologies. Much of the initial marketing around Wi-Fi 6 has been at the higher end with limited focus on IoT applications.

While this is understandable given the initial rollout in networking, laptop and smartphone clients, much needs to be done to educate the industry around the other benefits that Wi-Fi 6 can bring about for battery constrained IoT devices.

However, as 802.11ax chipset prices fall and vendors refine their product lines to support IoT clients, this is likely to change. ABI Research expects the IoT market to transition toward Wi-Fi 6 in earnest within 2-3 years.

Outlook for Wireless Technology Innovation

Chipset availability for 802.11ah -- also known as Wi-Fi HaLow -- is still very limited. Many HaLow ICs are still in development and most of these are from startup companies -- in fact, many of the traditional Wi-Fi IC vendors are not backing the technology and do not have any HaLow ICs on the market.

However, the first products are finally beginning to arrive, and the next 12-18 months will be crucial in establishing HaLow’s position in the IoT landscape.

Friday, October 04, 2019

How Artificial Intelligence Benefits Regtech Innovation

With the Fintech market gaining momentum across the globe, other markets -- such as Insurtech -- are now being examined to assess the disruptive potential of digital business technology. Regulatory compliance is one such area where IT innovation can transform the sector.

More than $340 billion in fines have been imposed on financial institutions in the decade since the financial crisis -- one report estimates that the total is likely to top $400 billion by 2020. Increasing requirements for transparency and growing scrutiny of ethical practices means that the cost of regulatory compliance will surely increase.

With an average of 10-15 percent of employee staff dedicated to compliance, banks and insurers are spending more each year to comply with government-imposed regulatory obligations. One solution to this growing challenge is better automation.

Robotic Process Automation Market Development

According to the latest market study by Juniper Research, insurers will spend $634 million on Robotic Process Automation (RPA) solutions by 2024, rising from $184 million in 2019 -- that's a 245 percent increase over the next 5 years.

RPA is software designed to reduce operational costs by automating basic repetitive tasks.

With no anticipated relaxation of regulatory oversight during the forecast period and the ever-increasing likelihood of financial penalties for governance failures, global regulatory compliance spending will increase from just under $278 billion to more than $316 billion over the next 5 years.


Juniper Research forecasts that growth in West Europe will be driven by potentially divergent regulatory rules mandated by the UK and the EU following Brexit. While disruptive, this will create additional opportunities for regulatory technology (Regtech) innovation in the region.

The combined cost savings for Know Your Customer (KYC) checks for banking and property sales will near $1 billion by 2024 -- that's a growth of 690 percent.

The impetus for this will be efficiency benefits, as well as the enhanced user experience that can be implemented in customer onboarding. This will reduce user frustration by improving response times; increasing overall user satisfaction.

Outlook for Regtech Applications Growth

As the financial systems of developing regions become more advanced, so will their needs for Regtech solutions. According to the Juniper assessment, these regions will have increased Regtech spending in the longer term.

Juniper recommends that organizations invest in the cost-saving potential of artificial intelligence (AI) and cautions that although AI has vast potential for Regtech applications, its use must be in line with overall business objectives or deployments will invariably fail to meet expectations.

Monday, September 30, 2019

ICT Revenue Growth will Reach $4.8 Trillion in 2023

Digital business growth continues to fuel the Global Networked Economy, which requires a corresponding investment in Information and Communications Technology (ICT) infrastructure. Despite the trade war between the United States and China, purchases of ICT systems and services will maintain steady growth over the next five years.

According to the latest worldwide market study by International Data Corporation (IDC), ICT spending on hardware, software, services, and telecommunications will achieve a compound annual growth rate (CAGR) of 3.8 percent over the 2019-2023 forecast period, reaching $4.8 trillion in 2023.

ICT Infrastructure Market Development

Digital transformation and the adoption of automation technologies will be driving ongoing investment in applications, analytics, middleware, and data management software -- as well as increasing demand for IT server and storage capacity.

Commercial purchases will account for nearly two-thirds of all ICT spending by 2023 -- that's up from 60.4 percent in 2018 and growing at a solid five-year CAGR of 5.1 percent.

Banking and discrete manufacturing will be the industries spending the most on ICT over the forecast period followed by professional services, which will also see the fastest growth in ICT spending, driven largely by service provider growth.

The media and consumer sectors will also continue to grow, as companies within these industries transform their business operations to offer new services and improve customer experiences.

While purchases for planned upgrades and refresh cycles will continue to be the largest driver of commercial ICT spending, new investments in the technologies and services that enable the digital transformation of business models, products and services, and organizations will be a significant source of spending.


IDC recently forecast worldwide digital transformation spending to reach $1.18 trillion in 2019.

However, consumer ICT spending will grow at a 1.5 percent CAGR, resulting in a gradual loss of share over the five-year forecast period. Consumer spending will be dominated by purchases of mobile telecom services and devices -- such as smartphones, notebook computers, and media tablets.

The United States will be the largest geographic market with ICT spending forecast to reach $1.66 trillion in 2023. Western Europe will be the second-largest region with $927 billion in ICT spending in 2023, followed by China at $618 billion. China will also be the fastest-growing region with a five-year CAGR of 6.1 percent.

"In the U.S., a favorable business climate and strong consumer confidence continue to buoy technology spending and innovative projects. Tech-intense areas such as the financial services sector and telecom industry are holding strong as they are committed to serving their demanding and evolving customers in new and innovative ways," said Jessica Goepfert, vice president at IDC.

Outlook for New ICT Applications Growth

Digital transformation is catching up in the Asia-Pacific region at an accelerated pace, and this will continue to drive significant investments in technologies in the next few years -- from hardware and services to applications.

The investments are driven by both government and enterprises in the region as they are understanding the value of what these new technologies bring to the overall operational activities.

It also harnesses the potential of a lot of initiatives being launched to make the workforce well versed in digital commerce. Upskilling the workforce is a top priority for leaders everywhere.

Friday, September 27, 2019

How Augmented Intelligence will Transform the Enterprise

As artificial intelligence (AI) evolves, applications of augmented intelligence -- the combination of human and AI capabilities -- will likely deliver the greatest benefits. CIOs should prioritize augmented intelligence to scale their employee talent as one of the most valuable contributions to business innovation.

In 2021, artificial intelligence (AI) augmentation will create $2.9 trillion of business value and 6.2 billion hours of worker productivity globally, according to the latest worldwide market study by Gartner.

Augmented Intelligence Market Development

Gartner defines 'augmented intelligence' as a human-centered partnership model of people and AI technologies working together to enhance cognitive performance. This includes learning, decision making and new experiences.

"Augmented intelligence is all about people taking advantage of AI," said Svetlana Sicular, research vice president at Gartner. "As AI technology evolves, the combined human and AI capabilities that augmented intelligence allows will deliver the greatest benefits to enterprises."

Gartner’s AI business value forecast highlights decision support and augmentation as the largest type of AI applications by business value-add with the fewest early barriers to adoption.


By 2030, decision support and augmentation will surpass all other types of enterprise AI initiatives to account for 44 percent of the global AI-derived business value.

Customer experience is the primary source of AI-derived business value, according to the Gartner AI business value forecast. Augmented intelligence reduces mistakes while delivering customer convenience and personalization at scale, democratizing what was previously available to the select few.

According to the Gartner assessment, the commercial goal is to be more efficient with automation, while complementing it with a human touch and common sense to manage the risks of decision automation.

Outlook for Augmented Intelligence Applications

"The excitement about AI tools, services and algorithms misses a crucial point: The goal of AI should be to empower humans to be better, smarter and happier, not to create a ‘machine world’ for its own sake," concluded Ms. Sicular.

Augmented intelligence is a design approach to winning with AI, and it assists machines and people alike to perform at their best. The outlook for emerging applications is therefore very promising.

Monday, September 23, 2019

Blockchain Technology Revenue will Reach $10 Billion

Blockchain and distributed ledger technologies have received a significant amount of media attention over the last couple of quarters. Regardless, the market for these emerging technologies is still in the early stages of applications growth.

That said, global revenues for blockchain technology are on track to reach almost $10 billion by 2023, according to the latest worldwide market study by ABI Research.

Blockchain Market Development

Enterprise organizations continue to show growing interest in blockchain applications, in contrast to the significant decrease in Initial Coin Offerings (ICOs) during 2018.

Vendor Investment continues to swell, buoyed primarily by an increase in venture capital (VC) funding, notably in blockchain infrastructure development.

VC funding is catching up to ICOs, with 620 investment rounds totaling $3.1 billion in 2018 -- that's up from 153 rounds at $850 million in 2017.

"Tighter regulation (including securities) and taxation on cryptocurrencies in a number of countries are prompting investors to look beyond ICOs towards more stable VC-based investment for blockchain startups focusing on support infrastructure, retail, supply chain, and enterprise applications," said Michela Menting, research director at ABI Research.

Despite a strong growth outlook from a revenue perspective, the blockchain market beyond financial and insurance applications is struggling to evolve, due in large part to the lack of a middleware class of blockchain offerings, which can help tie-in Blockchain-as-a-Service (BaaS) with applications from startups.

According to the ABI assessment, this missing piece continues to provide obstacles for blockchain developers and therefore low revenue generation for blockchain vendors and service providers.

Moreover, BaaS offerings are very much focused on locking-in customers in-house (infrastructure, platform and software), with limited interoperability or platform-agnostic offerings at the systems level to allow for hybrid scenarios.

Outlook for Enterprise Blockchain Applications Growth

However, ABI Research expects the middleware segment to emerge from 2021 onward, with several platform-agnostic solutions reaching the market, enabling development and interoperability at the systems and software level.

"While the crypto-winter has dampened spirits somewhat despite successful completion of many pilots, the dip in enthusiasm is temporary and will serve to filter out the superficial and fraudulent offers from the market," Menting concludes.

Friday, September 20, 2019

Smartphone Apps Drive the eRetail Payments Market

The retail market has undergone a radical transformation, driven by an increasing focus on customer use of technology. Indeed, shoppers are now everywhere: in retailer stores, online or both at the same time -- comparison shopping via their smartphones.

It's forcing retailers to offer superior shopping experiences that are coupled with omnichannel payments. By the end of 2019, eCommerce will have a significant role to play with 44 percent of the global population purchasing physical goods and 27 percent purchasing digital goods.

Since eRetail has been disrupting the sector, legacy retailers have learned to incorporate more digital channels into their own offerings.

Remote Payments Market Development

According to the latest worldwide market study by Juniper Research, the total transaction value of remote payments for digital and physical goods will exceed $6 trillion by 2024 -- that's a growth rate of 53 percent from 2019.

The new study revealed that online sales will be dominated by physical goods -- forecast to account for almost 80 percent of online retail purchases by 2024. Therefore, Juniper urged all retailers to consider omnichannel offerings to ensure services align with ever-increasing customer expectations.

Remote payments will be driven by purchases made via mobile devices, with the number of smartphone buyers increasing by nearly 60 percent between 2019 and 2024. Consequently, just 21 percent of purchases will be made using personal computers and connected TVs globally by 2024.

The shift to mobile eCommerce has impacted purchasing behavior, with the average value of transactions expected to decline by 2024. Underpinning this growth is the adoption of mobile ticketing, which is becoming increasingly remote and cashless.


As part of this market assessment, Juniper Research assessed the digital strategies of 25 leading bricks-and-mortar retailers according to their levels of business agility and digital innovation.

The Home Depot ranked first, owing to its proactive eCommerce strategies and engagement with new technologies, such as augmented reality (AR) and analytics, to improve online consumer experiences.

Home Depot’s retail services are built on an omnichannel strategy, offering customers a comprehensive network of physical stores alongside robust online shopping experiences.

Analytics is leveraged to adapt to evolving retail customer behaviors and AR technology is applied to enable customers to visualize virtual products in the real world via their smartphones.

Outlook for Retail eCommerce Apps Growth

"Bricks-and-mortar retailers have to go beyond simple eCommerce to become digital-first companies. Retailers must fundamentally embrace the digital era by optimizing data analytics and embracing new technologies; enabled by radical internal organizational change," said Morgane Kimmich, research analyst at Juniper Research.