Persistence Market Research
Advancements in technology base and increasing the demand for IoT in retail to enhance customer productivity is also one of the major factors which drives the growth of IoT in retail market. Apart from this, social, mobile, and cloud computing are accelerating the demand for IoT in retail market. Furthermore, with the rapid technological shift and continuous deployment & migration of mobile devices, the demand for IoT in retail is increasing rapidly.
Global IoT in Retail Market: Drivers and Challenges
The growing trend of digital infrastructure is the primary factor which is driving the growth of IoT in retail market. Also, the rise in the digital technologies and improvement in the wireless infrastructure, the IoT in retail market is expected to grow rapidly in coming few years. Various retail organizations are adopting IoT in retail solutions due to the growing need for better customer services and response. The increasing internet penetration is also creating potential opportunities for the growth of IoT in retail market.
The rising trend of automation is also driving the growth of IoT in retail market. Moreover, development and implementation of smart technologies is also fuelling the growth of IoT in retail market. Also, the declining cost of IoT components such as sensors and RFID are also driving the demand for IoT in retail. Apart from this, the increasing usage of mobile applications is creating potential opportunities for IoT in retail market.
With the development of technology, the risk of threats also increase which is the primary challenge for the IoT in retail market. Issues associated with data privacy and security are expected to hamper the growth of IoT in retail market. Moreover, device compatibility issues and lack of common standards are the major factors which hinders the growth of IoT in retail market.
Global IoT in Retail Market: Segmentation
Segmentation of the IoT in Retail Market on the Basis of Component:
Hardware Sensors RFID tags Wearable Other Software Services Remote Device Management Professional Services Managed Services
Segmentation of the IoT in Retail Market on the Basis of Technology:
Zig bee Wi-Fi Bluetooth Others
Segmentation of the IoT in Retail Market on the Basis of Application:
Global IoT in Retail Market: Competition Landscape
Prominent players in the global IoT in retail market are ARM Holdings, Google Inc., IBM Corporation, Microsoft Corporation, Cisco Systems, Inc., SAP SE, Zebra Technologies, Amazon Web Services, Intel Corporation, Atmel Corporation, PTC, Inc., and Softweb Solutions.
Global IoT in Retail Market: Regional Overview
On the basis of geography, North America is expected to be a large market for IoT in retail, due to the early adoption of digital technologies and the presence of various key players in the region. The demand for IoT in retail in APAC and Europe is expected to grow rapidly in the coming few years, owing to the rapid development in digital infrastructure. Moreover, the rapid technological shift and continuous deployment & migration of mobile devices in countries such as Japan, China, and India is also driving the demand for IoT in retail in Asia Pacific. The IoT in retail markets in Latin America is expected to witness high growth rates in the coming period, due to the rise in digital technologies and increasing penetration of internet users. The IoT in retail market in MEA is also increasing due to the high adoption of smart phones and tablets in the region.
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
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