HTF MI recently introduced Global Internet of Things in Retail Market study with 123+ pages in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status (2024-2030). The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence and some of the key players from the complete study are IBM (United States), SAP (Germany), Oracle (United States), Intel (United States), Cisco (United States), AT&T (United States), Microsoft (United States), PTC (United States), Huawei (China), Sierra Wireless (Canada), Google (United States), Amazon Web Services (United States), Software AG (Germany), Accenture (Ireland).
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According to HTF Market Intelligence, the Global Internet of Things in Retail market to witness a CAGR of 19.6% during forecast period of 2024-2030. The market is segmented by Application (Small & Medium Size Enterprise(SMEs), Large Enterprise) by Type (Operations Management, Asset Management, Customer Experience Management, Advertising and Marketing) by Solution (Hardware, Software) by Service (Professional Services, Managed Services) by Technology (Bluetooth low energy, Near field communication, ZigBee, Others) and by Geography (North America, South America, Europe, Asia Pacific, MEA).
Definition:
The Internet of things (IoT) in the retail industry allows users to benefit from brand-related digital solutions while using physical stores. This way, retail companies can achieve collaboration between online and in-store experiences. The retail industry is seeing a rapid transformation, with IoT solutions taking the center stage in the sector. Having plenty of applications, IoT helps increase customer loyalty, boost sales, improve inventory management, and offer a personalized experience. In retail, the IoT is the technology that will drive truly connected, an RFID clothing label to a smart changing room, and omnichannel experiences. It’s the technology that connects a customer’s mobile to a store window, a sales assistant’s tablet to an e-commerce site. Moreover, IoT plays a key role in the evolutions that are happening within retail facilities, from supermarkets to chains of smaller stores in a sense of facility management and optimization, business continuity and innovation for better shopping experiences while enabling store monitors to be sure all systems are running at all time.
Market Trends:
- Mobile Self-Checkout Is a Growing Trend among Retailers
- Retailers Are Actively Adopting Beacon Technologies
Market Drivers:
- Increasing Customer Demand for a Seamless Shopping Experience
- Rapidly Declining Cost of IoT-Based Sensors and Connectivity
- Increasing Adoption of Smart Payment Solutions Boosting the Growth of the Market
Market Opportunities:
- Integrated IoT Solution to Open New Revenue Streams
- Increased Investment in Retail Automation Providing Wholesome Opportunities for Analytics Providers
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The titled segments and sub-section of the market are illuminated below:
In-depth analysis of Internet of Things in Retail market segments by Types: Operations Management, Asset Management, Customer Experience Management, Advertising and Marketing
Detailed analysis of Internet of Things in Retail market segments by Applications: Small & Medium Size Enterprise(SMEs), Large Enterprise
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
- The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
- North America (United States, Mexico & Canada)
- South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
- Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
- Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
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Internet of Things in Retail Market Research Objectives:
– Focuses on the key manufacturers, to define, pronounce and examine the value, sales volume, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
– To share comprehensive information about the key factors influencing the growth of the market (opportunities, drivers, growth potential, industry-specific challenges and risks).
– To analyze the with respect to individual future prospects, growth trends and their involvement to the total market.
– To analyze reasonable developments such as agreements, expansions new product launches, and acquisitions in the market.
– To deliberately profile the key players and systematically examine their growth strategies.
FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)
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Points Covered in Table of Content of Global Internet of Things in Retail Market:
Chapter 01 – Internet of Things in Retail Executive Summary
Chapter 02 – Market Overview
Chapter 03 – Key Success Factors
Chapter 04 – Global Internet of Things in Retail Market – Pricing Analysis
Chapter 05 – Global Internet of Things in Retail Market Background or History
Chapter 06 — Global Internet of Things in Retail Market Segmentation (e.g. Type, Application)
Chapter 07 – Key and Emerging Countries Analysis Worldwide Internet of Things in Retail Market
Chapter 08 – Global Internet of Things in Retail Market Structure & worth Analysis
Chapter 09 – Global Internet of Things in Retail Market Competitive Analysis & Challenges
Chapter 10 – Assumptions and Acronyms
Chapter 11 – Internet of Things in Retail Market Research Methodology
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