Global Internet of Things (IoT) in Retail Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2026

MarketResearch.biz delivers in-depth insights on the global Internet of Things (IoT) in retail market in its upcoming report titled, “Global Internet of Things (IoT) in Retail Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2026”. The global Internet of Things (IoT) in retail market is estimated to register a CAGR of XX.X% in terms of value during forecast period 2017–2026. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global Internet of Things (IoT) in retail market report has been segmented on the basis of solution, hardware, service, technology, and region.

Request Covid - 19 Impact

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

The Internet of Things (IoT) in retail help retail companies/outlets to increase their revenue by improving customer experience. IoT is significantly used in every retailing process such as inventory management, smart kiosks, shopper intelligence, to track loss and theft, mobile payments, and for marketing and advertising activities. Availability of digital sensors enables Machine to Machine (M2M) communication to send product information, discount codes, and coupons. The retailers combine smart technologies with in-store solutions such as beacons, video analytics, wearables, and Bluetooth Low Energy (BLE), which helps to collect data from customers.

Increasing adoption of e-commerce platforms among individuals across the globe resulting in shifting traditional retailer’s preference towards connected technologies, which is a key factor expected to drive growth of the global market over the forecast period. In addition, increasing production rate of connected devices and rising adoption of collective standards are other factors expected to drive growth of the target market. Moreover, increasing retailer’s preference towards applications such as digital payment, digital signage, and supply chain management is another factor further expected to support growth of this market in the near future.

However, varying IoT standards is a key factor expected to restrain growth of the global market over the forecast period. In addition, high cost of implementation, and rising security and privacy concern among individuals are other factors expected to hamper growth of the target market in the near future.

Ongoing trend observed in the target market is increasing digitization across the retail sector and increasing adoption of smart devices among individuals across the globe. Technological advancements in retail sector using IoT are expected to create lucrative opportunities for players operating in the target market in the near future.

The market in North America dominates the global market in terms of revenue over the forecast period, owing to increasing adoption of technologies and well organized retail sector in various countries in the region. The market in Europe is expected to account for significant share in the target market over the forecast period, owing to rising adoption of beacons in economies in countries such as France and UK. The market in Asia Pacific is expected to account for fastest growth over the forecast period, owing to increasing adoption of smartphones and connected devices in developing countries such as India, China, and Japan.

Global Internet of Things (IoT) in retail market segmentation:

Segmentation by component:

• Hardware
• Software

Segmentation by hardware:

• Beacons
• RFID tags
• Sensors
• Wearables

Segmentation by service:

• Professional services
• Managed services

Segmentation by technology:

• Bluetooth low energy
• Near field communication
• ZigBee
• Others

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa