Global IoT in Retail Market was valued at USD 13.55 billion in 2019 which is expected to grow USD 37.89 billion by 2027 at a CAGR 18.8%.
IoT is commonly called as internet of things which helps retailers to collect data and produce insights. Rise in adoption of digitalization & automation across various industries including retail industry to gain operational efficiency benefits will grow the IoT in retail market growth.
Increase in demand for Internet of Things in retail industry is the key driving factor which is expected to boost the global IoT in retail market growth. Furthermore, rise in adoption of smart payment solution by consumers is expected to propel the growth of global IoT in retail industry. Moreover, increase in technological developments and innovations will have the positive impact on global IoT in Retail market growth. For instance, in August 2019, Staunch had launched new technology in Indian retail market, which named as YI technologies. YI technologies offer IoT products for India. In addition to that, rise in adoption of omnichannel shopping and rapid penetration of smartphones is expected to drive the growth of global IoT in retail industry.
Also, Global IoT in Retail Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Software AG, SAP, Amazon Web Services, Sierra Wireless, Huawei, PTC, Microsoft Corporation, Intel, IBM, and Cisco Systems.
- Device Management
- Application Management
- Network Management
- Connectivity Technology
- Digital Signage
- Supply Chain Management
- Smart Shelf & doors
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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