Global IoT in the retail market has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
Dallas, United States - October 20, 2020 /MarketersMedia/ —
The global Internet of Things (IoT) in retail market size is anticipated to reach over USD 32 billion by 2025. This can be attributed to the increase in internet penetration in developing countries such as India, China, and others. Moreover, developments in technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), machine learning, and big data are also fuelling the demand for the Internet of Things (IoT) in retail market growth.
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Retail is a very data-intensive industry and in the past few years with the emergence of e-commerce and adoption of IoT devices the industry has become more complex. The retailers are progressively adopting advanced and innovative technologies across the globe to provide their customers with an enhanced experience while shopping online as well as in-store. However, with the growing competition, many retailers are facing problems in running their business efficiently and failing to optimize their resources.
Therefore, the Internet of Things (IoT) in retail solutions enable retailers to gain insights from the past as well as real-time data that allow retailers to provide products based on their previous purchase history and which section they visit the most. Also, many retailers have failed in taking advantage of the technological disruption in this industry. However, with the emergence of big data analytics and its wide application in numerous sectors are providing major opportunities to retailers.
Increase in internet penetration in developing countries such as India, China, and others. Moreover, developments in technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), machine learning, and big data are also fuelling the demand for the Internet of Things (IoT) in retail market growth. Additionally, the growing need to provide better consumer experience and increase in need to get insights on customer preferences & choices are also some of the essential factors boosting the adoption of the Internet of Things (IoT) in retail solutions.
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However, initial setup cost and legacy retail systems are hampering the market growth. Furthermore, the advent of cloud-based analytics is expected to provide growth opportunities for the retail analytics market in the forthcoming years.
Global Internet of Things (IoT) in retail market can be split on the basis of various segments such as product type, application overview, companies and key geographies. On the basis of product type market can be divided into Software and Services. Internet of Things (IoT) used in several applications such as Strategy and Planning, Store Operations, Supply Chain, Marketing, Merchandising and others. Furthermore based on the solution overview market can be divided into Security & Infrastructure transformation, Insights & Marketing Automation, Omnichannel Retail Transformation, In-Store Transformation and others.
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Some of the key players or Manufacturers involved in the Global Internet of Things (IoT) in retail market Allerin (India), Telit (UK), Happiest Minds (India), Vodafone (UK), AT&T (US), Oracle (US), NEC Corporation (Japan), Google (US), Bosch.IO (Germany), Software AG (Germany), SAP (Germany), AWS (US), Sierra Wireless (Canada), Huawei (China), PTC (US), Microsoft (US), Intel (US), IBM (US), Cisco (US), and many others.
Looping on the basis of key geographies the Global Internet of Things (IoT) in retail Market can be divided into North America (U.S. and Canada), Asia Pacific (India, Japan, China and Rest of APAC), Europe (France, UK, Germany and Rest of Europe), Central and South America (Brazil, Mexico and Rest of Central & South America), Middle East and Africa and Rest of World (RoW). North America holds the highest rank among countries in terms of market size of Global Internet of Things (IoT) in retail Market.
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Segment Overview of Global Internet of Things (IoT) in Retail Market
Type Overview, 2018-2025 (USD Billion)
Software
Services
Application Overview, 2018-2025 (USD Billion)
Merchandising
Marketing
Supply Chain
Store Operations
Strategy and Planning
Others
Solutions Overview, 2018-2025 (USD Billion)
In-Store Transformation
Omnichannel Retail Transformation
Insights & Marketing Automation
Security & Infrastructure transformation
Others
Regional Overview, 2018-2025 (USD Billion)
North America
S.
Canada
Europe
UK
Germany
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia-Pacific
Middle East and Africa
UAE
South Africa
Rest of Middle East and Africa
South America
Brazil
Rest of South America
Major points from Table of Contents:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Internet Of Things (Iot) In Retail Market Overview, By Type
Chapter 5. Internet Of Things (Iot) In Retail Market Overview, By component
Chapter 6. Internet Of Things (Iot) In Retail Market Overview, By Technology
Chapter 7. Internet Of Things (Iot) In Retail Market Overview, By Industry
Chapter 8. Internet Of Things (Iot) In Retail Market Overview, By Region
Chapter 9. Industry Structure
Chapter 10. Company Profiles
What does the report include?
The study on the global retail analytics market includes qualitative factors such as drivers, restraints, and opportunities
The study covers the competitive landscape of existing/prospective players in the retail analytics industry and their strategic initiatives for the product development
The study covers a qualitative and quantitative analysis of the market segmented based on type, application, and solutions. Moreover, the study provides similar information for the key geographies.
Actual market sizes and forecasts have been provided for all the above-mentioned segments.
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