IoT in Retail Market Key Insights Based on Product Type, End-Use and Regional Demand Till 2020-2027
GMI Research's recent analysis, global IoT in retail market,
forecast to 2027, examines the trends in this market and how they are evolving
across the different key geographic regions of the world. The rising adoption
of smart payment solutions and increasing customer demand for a seamless
shopping experience are the factors driving the growth of the IoT in retail
market.
Request for a sample report copy: https://www.gmiresearch.com/report/iot-in-retail-market/sample-request
Introduction of the IoT in Retail Market:
The concept of linking devices to the internet and other connected
devices is called the Internet of Things (IoT). It is a wide network of
interrelated things and people, where they can share and collect data related
to the environment surrounding them. IoT has disrupted the retail market by
offering vast growth to technology. With the incorporation of IoT in retail
analytics, companies can expand their customer base and earn noticeable market
revenues.
IoT in Retail Market Dynamics (including market size, share,
trends, forecast, growth, forecast, and industry analysis)
The rising adoption of smart payment solutions, increasing
customer demand for a seamless shopping experience, and continuously reducing
the cost of IoT-based connectivity and sensors are the factors surging the
growth of the IoT in retail market. The major target of retailers is to enhance
the user experience during the decision-making chain right up to the shopping
experience. Thus, during the period of digitalization, retailers are mainly
concerned about improving customer experience by adopting the latest devices,
sensors, and connected objects, which include shelves and furniture, that not
only enhance the store with cutting-edge technological systems but also
provides a stenographic and interactive experience to the consumers.
The IoT technology gathers information and data for the
retailer to understand the need, habits, and preferences of customers. For
example, a U.S. based sportswear brand named AMW uses smart shelf technology
with outfitted edge displays and high-def optical sensors to display product
information that communicates data about inventory levels. It recognizes a
customer's ethnicity, gender, and age to deliver more detailed display content.
Additionally, the increasing demand for improving customer experience is
propelling the growth of IoT in Retail market size.
For further information on these analyses, please
visit: https://www.gmiresearch.com/report/iot-in-retail-market/sample-request
Based on the Region, the Asia-Pacific region is expected to
grow at a higher during the forecast period. This is attributed to the
continuously reducing cost of sensors, and ongoing smart city initiatives are
the factors bolstering the growth of the market. Furthermore, countries like
China and India are increasing demand for IoT in the retail sector owing to the
growing population rate in these economies. In addition to this, the North
America region is projected to grow at a higher CAGR during the forecast
period. The incorporation of the best in-store experience and the introduction
of e-commerce technology is supporting the growth of IoT in Retail market in
the region.
Key Players of the Global IoT in Retail Market:
·
Cisco Systems Inc
·
IBM Corporation
·
Intel Corporation
·
Huawei Technologies Co. Ltd
·
AWS
·
Google LLC
·
Oracle Corporation
·
AT&T Inc
·
NEC Corporation
·
SAP SE
IoT in Retail Market Segmentation:
Segmentation
by Offering:
·
Hardware
o
Beacon
o
Sensors
o
Gateway
o
Radio-frequency Identification (RFID)
·
Platforms
o
Device
Management
o
Application Management
o
Network
Management
·
Services
o
Professional Services
§
Consulting
§
System
Integration and Deployment
§
Support
and Maintenance
o
Managed
Services
Segmentation
by Application:
·
Operations Management On-premises
o
Energy
Optimization
o
Supply
Chain Optimization
o
Surveillance and Security
o
Inventory
Optimization
o
Workforce
Management
·
Asset Management
o
Asset
Condition Monitoring
o
Predictive Equipment Maintenance
·
Customer Experience Management
o
Smart
Payment and Checkout
o
Queue
Management
o
Automatic
Vending Machine
o
Smart
Shelves
·
Advertising and Marketing
o
Geomarketing
o
Digital
Signage
Segmentation
by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
About GMI
Research
GMI Research is a market research and consulting company
that offers business sights and market research reports for every enterprise,
including small & medium enterprises and large organizations. Our research
team helps the clients to understand the impact of market dynamics such as
market size, share, drivers, growth opportunities, and other aspects. We have a
team of analysts and industry experts who conduct market intelligence studies
to ensure relevant and fact-based research across a wide range of sectors such
as FMCG, Technology, Energy, Healthcare, and other industries. We collect
relevant information about the industry using both internal and external
databases. Our main focus is to keep our clients abridged of the emerging
opportunities and challenges in a wide range of industries. We provide
step-by-step assistance to our client through strategic and consulting services
to reach a managerial and actionable decision. Featured in the ‘Top 20 Most
Promising Market Research Consultants’ list of Silicon India Magazine in
2018, we at GMI Research are always looking forward to helping businesses stay
ahead of the curve.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website:
www.gmiresearch.com
Comments
Post a Comment