DUBLIN--(BUSINESS WIRE)--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.
Companies Mentioned
- 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
- Vodafone Group Plc.
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.
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.
Key Questions Answered in This Report:
- How has the global internet of things (IoT) in retail market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global internet of things (IoT) in retail market?
- What are the key regional markets?
- What is the breakup of the market based on the solution?
- What is the breakup of the market based on the service?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the platform?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global internet of things (IoT) in retail market and who are the key players?
- What is the degree of competition in the industry?
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
7 Market Breakup by Service
8 Market Breakup by Technology
9 Market Breakup by Platform
10 Market Breakup by Application
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
For more information about this report visit https://www.researchandmarkets.com/r/q87ykx
