Dublin, April 30, 2019 (GLOBE NEWSWIRE) -- The "Internet of Things (IoT) in Retail Market Size, Share & Trends Analysis Report By Solution, By Hardware (Beacons, RFID Tags, Sensors, Wearables), By Service, By Technology, And Segment Forecasts, 2018 - 2025" report has been added to ResearchAndMarkets.com's offering.
The global internet of things (IoT) in retail market size is expected to reach USD 94.44 billion by 2025, exhibiting a 21.5% CAGR during the forecast period.
Increasing demand for improved flexibility, multiple distribution channels, better service, and enhanced experience are expected to provide impetus to industry growth over the forecast period. The growth can be also attributed to merging of digital and in-store operations in retail stores.
Ongoing evolutions in retail such as omni-channel shopping and rapid smartphone adoption rate are enabling retailers to create a brick-and-mortar shopping experience. Smart retailers are engaging with the right technology and making stores more interactive. Smartphones and tablets enabled with Bluetooth Low Energy (BLE) are used for product promotions, thereby encouraging social sharing.
Such evolutions have led to increased spending on connected technologies to monitor products, customer behavior, premises, and supply chain. Implementation and adoption of connected technologies solutions allow retailers to analyze and monitor existing processes to enhance them with incremental investments. However, with growing IoT permeation, retailers have not been able to exploit the capabilities of IoT.
Furthermore, the emergence of Machine Learning and Artificial Intelligence (AI) technologies are changing the retail scenario as they provide better insights to optimize retail execution efficiently. Retailers can accurately anticipate customer behavior, predict demand, and personalize customer experience. For instance, retailers are predicting demand to offer product endorsements based on data received from customers. Such transformation is expected to occur over the next few years by deploying machine learning in combination with IoT technologies.
Retailers are striving to gain a competitive edge through installation of smart shelves and RFID sensors, which aid in detection of low inventory and track products throughout the respective supply chain. IoT adoption also helps retailers in revolutionizing delivery operations and retail supply chain.
Further key findings from the report suggest:
- Retail IoT software is expected to witness substantial growth with a revenue share of over 40% by 2025; this growth can be attributed to increasing adoption of retail analytics software to monitor consumer behavior
- The beacons segment is expected to exhibit a CAGR of over 23% from 2016 to 2025 owing to increasing adoption of beacons for enhancing customer in-store experience by offering promotional offers and messages
- The Latin America region is anticipated to account for a revenue share of over 10% by 2025 owing to increasing investment in retail infrastructure
- Key industry players include RetailNext Inc.; Losant IoT Inc.; Intel Corporation; Impinj Inc.; and Allerin Tech Pvt. Ltd.
Key Topics Covered
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
2.1 IoT in Retail - Market Snapshot & Key Buying Criteria, 2014 - 2025
Chapter 3 IoT in Retail - Industry Outlook
3.1 Market Segmentation
3.2 IoT in Retail - Market Size and Growth Prospects
3.3 IoT in Retail - Value Chain Analysis
3.3.1 Vendor landscape
3.4 Market Dynamics
3.4.1 Market driver analysis
3.4.1.1 Need for enhanced customer experience
3.4.1.2 Decline in the component cost
3.4.2 Market restraint analysis
3.4.2.1 Fragmented technology standards
3.4.2.2 Privacy and security concerns
3.5 Penetration & Growth Prospect Mapping
3.6 Industry Analysis - Porter's
3.7 IoT in Retail - Key Company Analysis, 2015
3.8 IoT in Retail - PESTEL Analysis
Chapter 4 IoT in Retail Solution Estimates & Trend Analysis
4.1 IoT in Retail Market: Solution Movement Analysis
4.1.1 Hardware
4.1.2 Software
Chapter 5 IoT in Retail Hardware Estimates & Trend Analysis
5.1 IoT in Retail Market: Hardware Movement Analysis
5.1.1 Beacons
5.1.2 RFID tags
5.1.3 Sensors
5.1.4 Wearables
Chapter 6 IoT in Retail Service Estimates & Trend Analysis
6.1 IoT in Retail Market: Services Movement Analysis
6.1.1 Professional services
6.1.2 Managed services
Chapter 7 IoT in Retail Technology Estimates & Trend Analysis
7.1 IoT in Retail Market: Technology Movement Analysis
7.1.1 Bluetooth low energy
7.1.2 Near field communication
7.1.3 ZigBee
7.1.4 Others
Chapter 8 IoT in Retail Regional Estimates & Trend Analysis
8.1 IoT in Retail Market Share by Region, 2015 & 2025
8.2 North America
8.3 Europe
8.4 Asia Pacific
8.5 Latin America
8.6 MEA
Chapter 9 Competitive Landscape
9.1 Company Profiles
9.1.1 Allerin Tech Pvt. Ltd.
9.1.2 ARM Holdings Plc
9.1.3 Cisco Systems Inc.
9.1.4 Google Inc.
9.1.5 IBM Corporation
9.1.6 Impinj Inc.
9.1.7 Intel Corporation
9.1.8 Losant IoT Inc.
9.1.9 Microsoft Corporation
9.1.10 NXP Semiconductors N.V.
9.1.11 PTC Inc.
9.1.12 RetailNext Inc.
9.1.13 SAP AG
9.1.14 Softweb Solutions Inc.
9.1.15 Verizon Enterprise
9.1.16 Zebra Technologies Corporation
For more information about this report visit https://www.researchandmarkets.com/r/cror6
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