Internet of Things (IoT) in Retail Market: Latest Innovations, Drivers and Industry Key Events 2020–2027

GMI Research market report focuses on providing an overview of the industry through detailed market segmentation. The report has information related to the overview and scope of the market followed by the key drivers, restraints, and emerging trends in the market. This report is especially designed to include both qualitative and quantitative aspects of the industry in each region and country included in the study.

List of Significant Manufacturers in the Internet of Things (IoT) in Retail Market include:

Cisco Systems Inc
IBM Corporation
Intel Corporation
Huawei Technologies Co. Ltd
AWS
Google LLC
Oracle Corporation
AT&T Inc
NEC Corporation
SAP SE

Internet of Things (IoT) in Retail Market Drivers and Restraints:

The key factors boosting the growth of IoT in the Retail market include the rising adoption of smart payment solutions, rapidly reducing the cost of IoT-based connectivity and sensors, along with increasing customer demand for a seamless shopping experience. Enhancing the user experience throughout the decision-making chain right up to the shopping experience is the key goal of retailers. Hence, in the era of digitalization, retailers are mainly focusing on improving customer experience with the latest devices, adopting sensors, and connected objects such as furniture and shelves, which not only beautify the store with cutting-edge technological systems but also provide a stenographic and interactive experience to the consumers.

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The IoT technology collects information and data for the retailer to understand the need, habits, and preferences of customers. For example, AMW, a U.S. based sportswear brand, uses smart shelf technology with outfitted edge displays and high-def optical sensors to display product information that transfers data related to inventory levels. It also identifies a customer’s ethnicity, gender, and age to deliver more specific display content. On the other hand, the increasing demand for improving customer experience is hindering the growth of IoT in the Retail market.

Segmentation: Internet of Things (IoT) in Retail Market

Internet of Things (IoT) in Retail Market: By Offering

Hardware

Beacon
Sensors
Gateway
Radio-frequency Identification (RFID)

Platforms

Device Management
Application Management
Network Management

Services

Professional Services

Consulting
System Integration and Deployment
Support and Maintenance

Managed Services

Internet of Things (IoT) in Retail Market: By Application

Operations Management On-premises

Energy Optimization
Supply Chain Optimization
Surveillance and Security
Inventory Optimization
Workforce Management

Asset Management

Asset Condition Monitoring
Predictive Equipment Maintenance

Customer Experience Management

Smart Payment and Checkout
Queue Management
Automatic Vending Machine
Smart Shelves

Advertising and Marketing

Geomarketing
Digital Signage

Internet of Things (IoT) in Retail Market: By Region

North America

United States of America
Canada

Asia Pacific

China
Japan
India
Rest of APAC

Europe

United Kingdom
Germany
France
Spain
Rest of Europe

Brazil
South Africa
Saudi Arabia
UAE
Rest of the world (remaining countries of the LAMEA region)

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