What: Coresight issues its selection of top 25 technology suppliers in retail that players can not ignore

Why it is important: while many technologies are new, there are not newcomers or new names in the list.

The updated Tech 25 list from Coresight Research highlights 25 public companies expected to shape key technology trends in retail for 2024 and beyond. This expansion from the previous Tech 20 list reflects the growing retail-tech opportunity.

Key changes to the list include the addition of eight new companies, focusing on enterprise software and in-store tech: Alibaba, Amazon AWS, Diebold Nixdorf, Honeywell, Kinaxis, NCR Voyix, Panasonic, and Workday. Three companies, Block, Cisco, and Meta, were removed due to shifts in research focus. The updated list features a global diversity with non-US companies like Alibaba, Kinaxis, and Panasonic.

The Tech 25 is divided into four sectors:

1. E-commerce (Adobe, Alibaba, Shopify)
2. Enterprise software (IBM, Kinaxis, Manhattan Associates, Microsoft, Oracle, Panasonic, Salesforce, SAP, Snowflake, Workday)
3. In-store tech and warehouse tech (Avery Dennison, Diebold Nixdorf, HP, Honeywell, Johnson Controls, NCR Voyix, Zebra Technologies)
4. Infrastructure (Alphabet, Amazon AWS, Intel, Nvidia, Qualcomm)

This list emphasizes Coresight Research's view on the importance of AI, GenAI (generative AI), and other advanced technologies in enhancing retail efficiency and reach. The Tech 25 aims to provide a broader understanding of the influential companies in the retail tech landscape, complementing research on smaller, emerging companies.

For brands and retailers, these technologies offer tools for increased efficiency, profitability, and competitiveness. Cloud computing, AI/ML, and GenAI are crucial for maximizing data benefits, while in-store technologies like sensors and computer vision unlock valuable data from physical stores.

For technology vendors, the Tech 25 presents numerous opportunities in e-commerce, enterprise software, in-store tech, and infrastructure. The tech sector's competitiveness is highlighted, with new technologies like GenAI enabling new companies to surpass established players. A Coresight Research survey indicates a strong trend of increased investment in technology among US IT decision-makers.

Overall, the Tech 25 list reflects a dynamic retail-tech sector, essential for the future of retail in an increasingly digital world.

Report: the top 25 key tech suppliers in retail in 2024