The research report titled Retail IoT market has recently been added by Absolute Markets Insights to its massive database which offers a lucid understanding of various business aspects of the Retail IoT market. The market report has been studied by means of primary and secondary research techniques. The report also covers the extensive data of historical records, existing scenarios, and future market growth prospects. Additionally, the report also offers SWOT analysis to discover market propellers and restraints of the businesses. The report also offers a holistic snapshot of the competitive landscape which helps to differentiate the competition at global and national level. In order to discover the risks and challenges faced by businesses, several types of business model have been examined.

In terms of revenue, the global retail IoT market stood at US$ 23,689.0 Mn in 2020 and is anticipated to reach US$ 104,932.2 Mn by 2030, expanding at a CAGR of 18% during the forecast period. The study analyzes the market in terms of revenue across all the major regions, further bifurcated into countries.

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Top Key Players includes in this report: ALLERIN TECH PVT LTD, Alphabet Inc. (Google LLC), Arm Limited, Cisco, Dipole RFID, Impinj, Inc., Intel Corporation, KaaIoT Technologies, LLC, LOSANT IOT, MediaTek Inc., Microsoft, NXP Semiconductors, Qualcomm Technologies, Inc., SAP SE, Scala Digital Signage, SIGFOX, Softweb Solutions Inc. (An Avnet Company), Verizon, Wi2Wi, Inc., Xynage, and Zebra Technologies Corp. amongst others.

Retailers are experiencing a paradigm shift in their business model by harnessing the potential of emerging technologies. Global Retail IoT market is expected to suffice the requirement of the retail sector through innovative solutions that lead towards business growth. Internet of Things (IoT) is one such technology that is connecting different machines, devices and objects with an aim to create a smart world. IoT applications are gaining momentum in the retail sector, with an aim to improve customer engagement and experience by helping retailers in understanding customer’s shopping habits. Some of the initiatives undertaken to utilize technological aids include digital signage, information beacons and radio frequency identification devices, which is helping to improve buying experience of customers. Marketing initiatives at particular locations using digital signage is one of the factors responsible for product awareness in stores.

This increased product awareness would improve the footfall for the stores and aid in their future growth. For instance, digital signage solutions from companies such as Scala Digital Signage and Xynage help retail providers to enhance their marketing capabilities. Also, the inclusion of fast checkout lanes by various retail outlets are reducing the time invested by consumers in the payment processes. Brick and mortar retail providers would be able to cater to consumers with a customer centric approach by utilization of technologies within their stores. Furthermore, supermarkets are leveraging the use of inventory management solutions for strengthening their supply chain. The inclusion of retail IoT solutions has provided retail providers with improvements in consumer feedbacks and is expected to grow over the forecast period across the world. In terms of revenue, the global retail IoT market stood at US$ 23,689.0 Mn in 2018 and is anticipated to reach US$ 104,932.2 Mn by 2027, expanding at a CAGR of 18% during the forecast period.

Retail IoT Market Segmentation:

By Offering

  • Hardware
  • Software
  • Services

By Application

  • Product Tracking
  • Payments
  • Customer Engagement
  • Supply Chain Management
  • Others

By End Users

  • Supermarkets/Hypermarkets
  • Specialty Stores
  • E-commerce Companies
  • Others

By Region

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

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