October 06, 2022 06:53 ET | Source: Research and Markets Research and Markets
Dublin, Oct. 06, 2022 (GLOBE NEWSWIRE) -- The "Internet of Things (IoT) in Retail Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering. The global internet of things (IoT) in retail market size reached US$ 41.15 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 124.18 Billion by 2027, exhibiting a CAGR of 20.21% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor. The Internet of things (IoT) is a data network comprising devices that connect to the Internet and exchange data without requiring human-to-machine interaction. It finds extensive applications in the retail sector as IoT helps link the physical and digital world by allowing bidirectional real-time interaction with consumers inside and outside the store.
It offers functional advantages, such as dynamic pricing, inventory tracking, monitoring, and personalized recommendations. Besides this, it also allows retailers to track customer movement and acquire insights about their shopping behavior. Internet of Things (IoT) in Retail Market Trends:
The rising automation in the retail sector to minimize labor costs represents one of the key factors bolstering the growth of the market. Moreover, retailers are focusing on launching innovative products and services and guaranteeing security to avoid data breaches.
They are also aiming at bringing a digital transformation to their conventional bricks-and-mortar outlets. As a result, retailers are nowadays adopting IoT technologies, such as digital signage, payment systems, and smart lighting and vending machines. In addition, they are utilizing radio-frequency identification (RFID) for asset tracking in stores and warehouses, sensors and cameras for monitoring product status and customer traffic, and in-store Wi-Fi to detect return customers and encourage digital interaction.
Apart from this, IoT devices enhance customer experience (CX) in stores through interactive terminals, virtual or augmented reality (AR/VR) experience, smart fitting rooms, and robots that can be deployed as smart sales assistants. These benefits, coupled with the rapid expansion of the e-commerce industry, are facilitating the growth of the market. Furthermore, with the declining cost of IoT hardware, small and medium-sized retailers are increasingly investing in IoT technologies, which is positively influencing the market.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Allerin Tech Pvt Ltd, Amazon.com Inc., Bosch.IO GmbH, Cisco Systems Inc., Huawei Technologies Co. Ltd, Intel Corporation, International Business Machines Corporation, Microsoft Corporation, NEC Corporation (AT&T Corporation), Oracle Corporation, Software AG, Telit and Vodafone Group Plc. Key Questions Answered in This Report:
Key Topics Covered: 1 Preface 2 Scope and Methodology 3 Executive Summary 4 Introduction 4.1 Overview 4.2 Key Industry Trends 5 Global Internet of Things (IoT) in Retail Market 5.1 Market Overview 5.2 Market Performance 5.3 Impact of COVID-19 5.4 Market Forecast 6 Market Breakup by Solution 6.1 Hardware 6.1.1 Market Trends 6.1.2 Key Segments 6.1.2.1 RFID tags 6.1.2.2 Beacons 6.1.2.3 Sensors 6.1.2.4 Wearables 6.1.3 Market Forecast 6.2 Software 6.2.1 Market Trends 6.2.2 Market Forecast 7 Market Breakup by Service 7.1 Professional Services 7.1.1 Market Trends 7.1.2 Market Forecast 7.2 Managed Services 7.2.1 Market Trends 7.2.2 Market Forecast 8 Market Breakup by Technology 8.1 Near Field Communication 8.1.1 Market Trends 8.1.2 Market Forecast 8.2 Bluetooth Low Energy 8.2.1 Market Trends 8.2.2 Market Forecast 8.3 ZigBee 8.3.1 Market Trends 8.3.2 Market Forecast 8.4 Others 8.4.1 Market Trends 8.4.2 Market Forecast 9 Market Breakup by Platform 9.1 Device Management 9.1.1 Market Trends 9.1.2 Market Forecast 9.2 Application Management 9.2.1 Market Trends 9.2.2 Market Forecast 9.3 Connectivity Management 9.3.1 Market Trends 9.3.2 Market Forecast 10 Market Breakup by Application 10.1 Operations Management 10.1.1 Market Trends 10.1.2 Market Forecast 10.2 Asset Management 10.2.1 Market Trends 10.2.2 Market Forecast 10.3 Customer Experience Management 10.3.1 Market Trends 10.3.2 Market Forecast 10.4 Advertising and Marketing 10.4.1 Market Trends 10.4.2 Market Forecast 11 Market Breakup by Region 12 SWOT Analysis 13 Value Chain Analysis 14 Porters Five Forces Analysis 15 Price Analysis 16 Competitive Landscape 16.1 Market Structure 16.2 Key Players 16.3 Profiles of Key Players 16.3.1 Allerin Tech Pvt Ltd 16.3.1.1 Company Overview 16.3.1.2 Product Portfolio 16.3.2 Amazon.com Inc. 16.3.2.1 Company Overview 16.3.2.2 Product Portfolio 16.3.2.3 Financials 16.3.2.4 SWOT Analysis 16.3.3 Bosch.IO GmbH 16.3.3.1 Company Overview 16.3.3.2 Product Portfolio 16.3.4 Cisco Systems Inc. 16.3.4.1 Company Overview 16.3.4.2 Product Portfolio 16.3.4.3 Financials 16.3.4.4 SWOT Analysis 16.3.5 Huawei Technologies Co. Ltd. 16.3.5.1 Company Overview 16.3.5.2 Product Portfolio 16.3.5.3 SWOT Analysis 16.3.6 Intel Corporation 16.3.6.1 Company Overview 16.3.6.2 Product Portfolio 16.3.6.3 Financials 16.3.6.4 SWOT Analysis 16.3.7 International Business Machines Corporation 16.3.7.1 Company Overview 16.3.7.2 Product Portfolio 16.3.7.3 Financials 16.3.7.4 SWOT Analysis 16.3.8 Microsoft Corporation 16.3.8.1 Company Overview 16.3.8.2 Product Portfolio 16.3.8.3 Financials 16.3.8.4 SWOT Analysis 16.3.9 NEC Corporation (AT&T Corporation) 16.3.9.1 Company Overview 16.3.9.2 Product Portfolio 16.3.9.3 Financials 16.3.9.4 SWOT Analysis 16.3.10 Oracle Corporation 16.3.10.1 Company Overview 16.3.10.2 Product Portfolio 16.3.10.3 Financials 16.3.10.4 SWOT Analysis 16.3.11 Software AG 16.3.11.1 Company Overview 16.3.11.2 Product Portfolio 16.3.11.3 Financials 16.3.12 Telit 16.3.12.1 Company Overview 16.3.12.2 Product Portfolio 16.3.12.3 Financials 16.3.13 Vodafone Group Plc 16.3.13.1 Company Overview 16.3.13.2 Product Portfolio 16.3.13.3 Financials 16.3.13.4 SWOT Analysis
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