Internet of Things (Iot) in Retail Market

Internet of Things (Iot) in Retail Market by Technologies (Near Field Communications (NFC), ZigBee, Bluetooth Low Energy, and Others), Solutions (Software, Hardware [RFID Tags, Wearables, Beacons, and Sensors]), Services (Managed Services and Professional Services), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, Forecasts, 2021 – 2028

  • Report ID: ICT-SE-3604
  • Author: Growth Market Reports
  • Rating: 4.3
  • Total Reviews: 2
  • No. Of Pages: 221
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The global Iot in retail market size was valued at USD 36.20 billion in 2020 and is expected to reach USD 185.20 billion by 2028, expanding at a CAGR of 26.42%, during the forecast period, 20121-2028. The growth of the market is attributed to growing digital and in-store operations in retail sector.

Internet of Things (Iot) in Retail Market

Retailers use IoT technology to enhance customer experience, drive growth,  improve overall performance, and reduce costs. Sensors are being utilised to track assets, measure customer satisfaction, give supply chain information, and check food safety.

The COVID-19 pandemic has forced several governments around the world to impose emergency lockdown and close down offices, schools, and colleges. As a result, the dependence upon online platforms by businesses has increased dramatically for executing various tasks and performing several functions.  Moreover, increasing use of internet and mobile telecommunication platforms for daily business operations has ultimately led to increased online retail transaction services.

Market Drivers, Restraints and Opportunities

  • Cost-effectiveness of A.I. and machine learning is a major factor driving the market.
  • Increasing usage of smartphones and increased mobile payments is another factor which is expected to drive market during the forecast period.
  • Lack of funding and halting of several technological projects due to Covid-19, act as a major restraint factor for digital forensics growth.
  • For any online retail operational services, where large customer data are gathered, there is always a threat of cyber security, and hampers the market growth.
  • Increasing demand for fast, and efficient retail services is expected to create lucrative opportunities during the forecast period.

Scope of the Report

The report on the global Iot in retail market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Iot in Retail Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018-2019

Forecast Period

2021–2028

Segmentation

Technologies (Near Field Communications , ZigBee, Bluetooth low energy, and Others), Solutions (Software, Hardware [RFID Tags, Wearables, Beacons, and Sensors]), and Services (Managed Services and Professional Services)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Arm Limited; Google LLC; Cisco Systems Inc.; Intel Corporation; NXP Semiconductors; RetailNext, Inc.; Verizon Communications Inc.; IBM Corporation; Impinj, Inc.; Losant IoT; Microsoft Corporation; PTC Inc.;  SAP SE;  Softweb Solutions Inc.; and Zebra Technologies Corporation

Market Segment Insights

The NFC segment is projected to hold major market share

Based on technologies, the market is divided into near field communications (NFC), ZigBee, bluetooth low energy, and others. The near field communication (NFC) segment accounted for a market share of around 34% in 2020. When compared to traditional cash and card payment methods, NFC integrates contactless smart card technology with mobile devices to enable for faster payment transactions. Device OEMs and mobile operators are esploiting many projects to extend the coverage of NFC transactions.

Internet of Things (Iot) in Retail Market

The RFID tags segment to hold major market share

In terms of solutions, the market is bifurcated into software and hardware. The hardware segment is further segmented into RFID tags, wearables, beacons, and sensors. The RFID tags segment accounted for a major market share of over 40% in 2020. The adoption of RFID tags, is increasing inventory accounting accuracy, and margin growth by reducing product loss.

The managed services segment to witness sturdy growth

On the basis of services, the market is divided into managed and professional services. The professional services segment accounted for the major market share of over 56.2% in 2020. Professional services include consulting, application management, and infrastructure management services. The managed services segment is anticipated to witness sturdy growth over the forecast period. This growth is attributed to increasing adoption of those services to cut back IT prices.

Asia Pacific is anticipated to dominate the market

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America accounted for a revenue share of over 31.20% in 2020. The e-commerce growth within the region has challenged the division stores in terms of excelling their business operations. Moreover, the regional growth is attributed to robust research and development capabilities of leading players. Asis Pacific is anticipated to dominate market during forecast period. owing China being the most important adopter of IoT. India offers a large potential for growth thanks to the increasing investments within the retail sector.

Internet of Things (Iot) in Retail Market

Segments

Segments Covered in the Report

The global Iot in retail market has been segmented on the basis of

Technologies

  • Near Field Communications (NFC)
  • ZigBee
  • Bluetooth low energy
  • Others

Solutions

  • Software
  • Hardware
    • RFID Tags
    • Wearables
    • Beacons
    • Sensors

Services

  • Managed Services
  • Professional Services

Regional

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

Key Players

  • Arm Limited
  • Google LLC
  • Cisco Systems Inc.
  • Intel Corporation
  • NXP Semiconductors
  • RetailNext, Inc.
  • Verizon Communications Inc.
  • IBM Corporation
  • Impinj, Inc.
  • Losant IoT
  • Microsoft Corporation
  • PTC Inc.
  • SAP SE
  • Softweb Solutions Inc.
  • Zebra Technologies Corporation

Competitive Landscape

Key players competing in the Iot in retail market include Arm Limited; Google LLC; Cisco Systems Inc.; Intel Corporation; NXP Semiconductors; RetailNext, Inc.; Verizon Communications Inc.; IBM Corporation; Impinj, Inc.; Losant IoT; Microsoft Corporation; PTC Inc.;  SAP SE;  Softweb Solutions Inc.; and Zebra Technologies Corporation. Most players are actively working on developing, and providing new solutions, for the retail industry.

Internet of Things (Iot) in Retail Market

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Internet of Things (Iot) in Retail Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Internet of Things (Iot) in Retail Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Internet of Things (Iot) in Retail Market - Supply Chain
  4.5. Global Internet of Things (Iot) in Retail Market Forecast
     4.5.1. Internet of Things (Iot) in Retail Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Internet of Things (Iot) in Retail Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Internet of Things (Iot) in Retail Market Absolute $ Opportunity
5. Global Internet of Things (Iot) in Retail Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Internet of Things (Iot) in Retail Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Internet of Things (Iot) in Retail Demand Share Forecast, 2019-2026
6. North America Internet of Things (Iot) in Retail Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Internet of Things (Iot) in Retail Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Internet of Things (Iot) in Retail Demand Share Forecast, 2019-2026
7. Latin America Internet of Things (Iot) in Retail Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Internet of Things (Iot) in Retail Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Internet of Things (Iot) in Retail Demand Share Forecast, 2019-2026
8. Europe Internet of Things (Iot) in Retail Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Internet of Things (Iot) in Retail Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Internet of Things (Iot) in Retail Demand Share Forecast, 2019-2026
9. Asia Pacific Internet of Things (Iot) in Retail Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Internet of Things (Iot) in Retail Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Internet of Things (Iot) in Retail Demand Share Forecast, 2019-2026
10. Middle East & Africa Internet of Things (Iot) in Retail Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Internet of Things (Iot) in Retail Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Internet of Things (Iot) in Retail Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Internet of Things (Iot) in Retail Market: Market Share Analysis
  11.2. Internet of Things (Iot) in Retail Distributors and Customers
  11.3. Internet of Things (Iot) in Retail Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)

Segments Covered in the Report

The global Iot in retail market has been segmented on the basis of

Technologies

  • Near Field Communications (NFC)
  • ZigBee
  • Bluetooth low energy
  • Others

Solutions

  • Software
  • Hardware
    • RFID Tags
    • Wearables
    • Beacons
    • Sensors

Services

  • Managed Services
  • Professional Services

Regional

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

Key Players

  • Arm Limited
  • Google LLC
  • Cisco Systems Inc.
  • Intel Corporation
  • NXP Semiconductors
  • RetailNext, Inc.
  • Verizon Communications Inc.
  • IBM Corporation
  • Impinj, Inc.
  • Losant IoT
  • Microsoft Corporation
  • PTC Inc.
  • SAP SE
  • Softweb Solutions Inc.
  • Zebra Technologies Corporation

Key players competing in the Iot in retail market include Arm Limited; Google LLC; Cisco Systems Inc.; Intel Corporation; NXP Semiconductors; RetailNext, Inc.; Verizon Communications Inc.; IBM Corporation; Impinj, Inc.; Losant IoT; Microsoft Corporation; PTC Inc.;  SAP SE;  Softweb Solutions Inc.; and Zebra Technologies Corporation. Most players are actively working on developing, and providing new solutions, for the retail industry.

Internet of Things (Iot) in Retail Market

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