What is Advanced Connectivity?  

Digital connections worldwide are becoming broader and faster, allowing industries to innovate and boost productivity. Connectivity is an important aspect of digital connections that aid in various business and industrial processes, including advancing R&D to improve the development of products & services and business models, transform inefficient operating models, and allow for reduced time to market. 

Advanced connectivity in E-Commerce & Retail refers to using a range of technologies to boost productivity. Communication is greatly aided by digital transformation. Advanced connectivity comprises cellular, wireline/fixed, short-range, Low-Earth orbit (LEO) satellites, low-power wide area network (LPWAN), wireless low-power networks, and optical fiber. 

Technological innovations have impacted the management and production of products and their marketing. The emergence of 5G has improved connectivity, promising ultra-high speeds, low latency, and greater reliability. Also, existing connectivity technologies have evolved significantly, offering new generations of fiber, cable, Wi-Fi, and short-range technologies.

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Competitive Analysis 

Among many providers of advanced connectivity in the oil & gas sector market include:

• Air Liquide Engineering & Construction
• ABB
• AspenTech
• BASF
• Aveva, BD Energy
• DuPont
• Chevron Lummus Global
• ExxonMobil
• Fluor, Evonik
• Grace
• Huawei
• Honeywell
• KBR
• Linde
• Kinetics Technology
• Lummus Technology.

These players initiate strategic approaches such as mergers & acquisitions, collaboration, expansion, and product & technology launches to gain a substantially larger market share. 

Organizations are realizing the potential of digital marketing techniques and adopting them to stay ahead of market competition. To achieve this, they increasingly demand advanced connectivity technologies that can help them monitor the latest market trends and give customers simple access to their products. 

With various high-tech transformations, 5G, and enhancements in communication technology, advanced connectivity will significantly impact various fields, allowing for the most outstanding outcomes. Fields impacted by advanced connectivity include social commerce, consumer convenience, industrial productivity, secure digital payments, and many more.

Advanced Connectivity in E-Commerce & Retail Market 

The advanced connectivity in e-commerce & retail market has grown tremendously over the last decade. The rise of wireless broadband and advances in communication technologies impact the market growth positively. By employing advanced connectivity, retailers and eCommerce sellers can enhance their operations, provide better consumer experiences, and stay competitive by implementing cutting-edge networking solutions.

Market Research Future (MRFR) expects the global advanced connectivity in e-commerce & retail market to escalate from USD 60.34 BN in 2022 to USD 287.40 BN by 2032, growing at a 16.8% CAGR throughout the review period (2023-2032). E-commerce and retail sectors need advanced connectivity that is quick, efficient, and flexible in connecting devices and systems.

Advanced connectivity solutions enable retailers to enhance their operations in a greater way. Utilizing modern connectivity solutions, Retailers can manage inventory in real time, optimize delivery routes, and minimize the likelihood of stockouts. The e-commerce and retail industries’ digital transition is significantly facilitated by advanced connectivity.

Besides, advanced connectivity helps gather information like client preferences and purchase patterns that can be further used to enable individualized content like offers and recommendations. It helps retail and eCommerce businesses respond quickly and effectively by enabling live chat and remote troubleshooting features. 

The tech stack enables an eCommerce business to achieve external customer service, internal management & scalability. This technology enables eCommerce sellers to sell various products from different brands, manage warehouse inventory, communicate with customers, and track orders in transit from manufacturer to warehouse to shipping provider. 

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Advanced Connectivity in E-Commerce & Retail Market – Technology

By technology, this market is segmented into Edge computing, IoT, AI, Machine learning (ML), and Others. Out-of-stock (OOS) causes huge revenue losses, especially for large retail chains. Ensuring the constant availability of all SKUs is a daunting challenge. Retailers generally experience up to 30 % of SKU OOS levels, depending on the category, leading to substantial losses in sales locally and globally.

In such a scenario, AI comes to the aid of offering solutions for shelf monitoring, forecasting, personalization of shopping experience, and ensuring compliance. AI-based shelf monitoring solutions help ensure replenishment of shelves so that OOS losses don’t occur. Having a product in-store inventory and being unable to make it available for customers to buy due to delays/wrongly restocking is a major problem retailers must address with AI.

AI-based forecasting methods can presage demand for various products depending on variables influencing sales. Effective forecasting avoids OOS due to stock shortage, as well as overstocking. Personalizing shopping experience with AI helps online stores analyze data quickly to personalize offers and prices for customers. 

Going ahead, AI will enable smart CRMs to learn from customers’ past behavioral patterns and current data to try and suggest cross-selling and upselling products. Retailers must follow many compliances, such as maintaining required temperatures, hygiene compliances, and COVID-19 security protocols. AI can help retailers ensure the compliance of these policies and retail execution purposes.  

Advanced Connectivity in the Oil & Gas Sector Market

Oil and gas is another sector where advanced connectivity has been playing a key role. The oil and gas industry is undergoing major transformations, moving away from siloed operations and data, causing endless disruptions and uncertainty. Companies are increasingly embracing a digital-first approach to improve productivity and efficiency across the value chain.

They are realizing the importance of connectivity in enabling innovation & efficiency and tracking business outcomes. Citing the growing adoption of advanced connectivity in the O&G space, Market Research Future (MRFR) expects the global advanced connectivity in the oil & gas sector market to grow to USD 245.30 BN by 2032 from USD 41.81 BN in 2022, at a 19.0% CAGR throughout the assessment period (2023-2032).

Progressive energy companies are using new digital management tools to design and implement technology that connects their entire business systems & operations. They are using sensors and other devices to monitor their assets remotely, which helps them identify problems and take corrective action before a major disruption can occur. Also, they are using data analytics to analyze the data collected from their operations. This data is further used to identify trends, improve efficiency, and make better decisions. 

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O&G Needs and Technology Providers

Oil and Gas companies strive to enhance satellite connectivity. They leverage high-speed, low-latency satellite fleets and advanced connectivity solutions. Also, they seek partners who can provide them with Low Earth Orbit (LEO) satellite communications services in key markets. Technology providers offer comprehensive solutions to meet this growing demand that can aid in remote operations, allowing for remotely controlled, monitored, managed, and secured infrastructure at multiple site locations in real-time.

These comprehensive solutions are designed to meet the needs of O&G companies requiring connectivity for multiple critical sites, offering reliable & managed services in remote areas. Integrating satellite services with full enterprise business network connectivity solutions helps achieve high capacity, high-speed, and low-latency services. 

With quick setup and development, these robust support structures and services enable stable, fast download and upload speeds. Low latency allows oil and gas companies to accentuate the secure and reliable transfer of critical business data between their head offices and remote locations.

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Industry News –

For instance, on July 03, 2023, Momentum (the Americas), a leading enterprise connectivity solutions provider, announced signing an enhanced agreement with OneWeb and Eutelsat to deliver advanced connectivity solutions for the O&G industry. The partnership represents a significant step in delivering advanced connectivity solutions to the oil and gas industry.

This partnership will bring high-speed, low-latency satellite connectivity solutions and reliable & real-time communication services to various O&G facilities in remote areas across Canada and the United States. Eutelsat’s robust connectivity solutions and OneWeb’s global LEO constellation complement Momentum’s enterprise connectivity services.

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