The Internet of Things in Retail Market

The Internet of Things (IoT) in retail assists retail outlets to improve their revenue by enhancing customer experience. IoT is highly used in every retailing process such as inventory management, shopper intelligence, smart kiosks, to track loss and theft, mobile payments and for marketing and advertising activities. Availability of digital sensors allows Machine to Machine (M2M) communication to forward product information, discount codes and coupons. The retailers integrate smart technologies with in-store solutions including beacons, wearables, video analytics and Bluetooth Low Energy (BLE), which helps to gather data from customers. The key factors propelling the growth of internet of things (IoT) in retail market include the rising adoption of smart payment solutions, rapidly decreasing cost of IoT-enabled connectivity and sensors, and surging customer demand for a seamless shopping experience. Enhancing the user experience throughout the decision-making chain right up to the shopping experience is the primary goal of retailers. Thus, in the era of digitalization, retailers are significantly focusing on improving customer experience by adopting sensors, latest devices and connected objects such as shelves and furniture, which not only embellish the store with cutting-edge technological systems but also provides a stenographic and interactive experience to the consumers. The IoT technology gathers information and data for the retailer to understand habits, requirements and interests of customers. For example, AMW, a U.S. based sportswear brand, utilizes smart shelf technology with outfitted edge displays and high-def optical sensors to exhibit product information which transmits data regarding inventory levels. It also recognizes a customer’s gender, ethnicity and age as to deliver more specific display content. Since, the surging demand for improving customer experience is boosting the growth of internet of things (IoT) in Retail market. However, the limited knowledge and awareness among retailers in small and technically backward economies is a factor limiting the internet of things (IoT) in retail market growth.

Furthermore, the rising penetration of e-commerce platforms has pushed conventional retailers to become potential of using connected technologies. Application of IoT in retail stores has enabled retailers to determine customers’ profiles and their buying preferences by correlate with wearable devices. M of connected devices and the deployment of collective standards are leading to the growth of IoT-based capabilities across the retail industry.

The global Internet of Things (IoT) in Retail Market is segregated on the basis of Solution as Hardware and Software. Based on Service the global Internet of Things (IoT) in Retail Market is segmented in Professional Services and Managed Services. Based on Technology the global Internet of Things (IoT) in Retail Market is segmented in Bluetooth low energy, Near field communication, ZigBee and Others.

The global Internet of Things (IoT) in Retail Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Internet of Things (IoT) in Retail Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.

Competitive Analysis

Arm Limited, Cisco Systems Inc., Google LLC, IBM Corporation, Impinj, Inc. and others are among the major players in the global Internet of Things (IoT) in Retail Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.

• In January 2019, Amazon Web Services, Inc. declared AWS Backup, a fully-managed, centralized backup service which makes it rapid and simpler for customers to back up their data across AWS services and on-premises, helping customers more easily meet their business and regulatory backup compliance needs.
• In July 2018, IBM Watson IoT propelled business transformation in Europe, as European clients are highly opting for Watson IoT. The examples of the company’s commitment to enhance operations are - its contracts with a Spanish electricity grid operator (Red Eléctrica de España), an Italian geriatric care provider (Cooperativa Sole), a Dutch telecommunications operator (Tele2), and an Israeli manufacturer of smart air conditioning (Electra Group), with the power of Artificial Intelligence (AI)-based and IBM’s cloud-based Internet of Things technologies. 
• In 2019, Kroger Company entered into a partnership with Microsoft Corporation, to redefine the retail customer experience. The result 0f the partnership is the developed technology connected by IoT sensors which run on Microsoft Azure to market a commercial retail-as-a-service (RaaS) product to the industry.

The global Internet of Things (IoT) in Retail Market has been segmented as below:

Internet of Things (IoT) in Retail Market, By Solution

• Hardware
• Beacons
• RFID tags
• Sensors
• Wearables
• Software

Internet of Things (IoT) in Retail Market, By Service

• Professional Services
• Managed Services

Internet of Things (IoT) in Retail Market, By Technology

• Bluetooth low energy
• Near field communication
• ZigBee
• Others

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

• Europe
• North America
• Asia Pacific
• Rest of The World

Internet of Things (IoT) in Retail Market, By Company

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

The report covers the below scope:

• Global Internet of Things (IoT) in Retail Market sizes from 2020 to 2026, along with CAGR for 2020-2026
• Market size comparison for 2019 vs 2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2026
• Global Internet of Things (IoT) in Retail Market trends, covering comprehensive range of consumer trends & manufacturer trends
• Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Internet of Things (IoT) in Retail Market
• Major market opportunities and challenges in forecast timeframe to be focused
• Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
• Comprehensive company profiles of the key industry players

The years considered for the study are as follows:

• Base year - 2019
• Estimated year - 2019
• Projected year - 2020
• Forecast period - 2021 to 2026

Report Scope:

The global Internet of Things (IoT) in Retail Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Internet of Things (IoT) in Retail Market share. Major industry players with significant revenue share include Arm Limited, Cisco Systems Inc., Google LLC, IBM Corporation, Impinj, Inc. and others.

Why to Buy this Report:

• Gain detailed insights on the Internet of Things (IoT) in Retail industry trends
• Find complete analysis on the market status
• Identify the Internet of Things (IoT) in Retail Market opportunities and growth segments
• Analyse competitive dynamics by evaluating business segments & product portfolios
• Facilitate strategy planning and industry dynamics to enhance decision making

Target Audience:

• The report targeted towards the existing players in the industry is as follows:
• Market Manufacturers/Service Providers
• Market Wholesale/Traders
• Investment and Financial Institutions

Free and Paid Customization based on the requirement

1.      Introduction

1.1.       Key Points

1.2.      Report Description

1.3.      Markets Covered

1.4.      Stakeholders

2.     Research Methodology

2.1.      Research Scope

2.2.     Research Methodology

2.2.1.     Market Research Process

2.2.2.    Research Methodology

2.2.2.1.           Secondary Research

2.2.2.2.          Primary Research

2.2.2.3.          Models for Estimation

2.3.     Market Size Estimation

2.3.1.     Bottom-Up Approach

2.3.2.    Top-Down Approach

3.     Executive Summary

4.    Market Overview

4.1.      Introduction

4.2.     Drivers

4.3.     Restraints

4.4.     Opportunities

4.5.     Challenges

5.     Internet of Things (IoT) in Retail Market, By Solution

5.1.      Key Points

5.2.     Hardware

5.2.1.      Beacons

5.2.2.     RFID tags

5.2.3.     Sensors

5.2.4.     Wearables

5.3.  Software

6.    Internet of Things (IoT) in Retail Market, By Service

6.1.      Key Points

6.2. Professional Services

6.3. Managed Services

7.     Internet of Things (IoT) in Retail Market, By Technology

7.1.      Key Points

7.2.  Bluetooth low energy

7.3.  Near field communication

7.4.  ZigBee

7.5.  Others

8.    Competitive Landscape

8.1.      Introduction

8.2.     Start-up companies- Internet of Things (IoT) in Retail Market

8.3.     Recent Developments

8.3.1.     Mergers & Acquisitions

8.3.2.    New Product Developments

8.3.3.    Portfolio/Production Capacity Expansions

8.3.4.    Joint Ventures, Collaborations, Partnerships & Agreements

8.3.5.    Others

9.    Company Profile

9.1.  Arm Limited

9.2. Cisco Systems Inc.

9.3. Google LLC

9.4. IBM Corporation

9.5.  Impinj, Inc.

9.6. Intel Corporation

9.7.  Losant IoT

9.8. Microsoft Corporation

9.9. NXP Semiconductors

9.10.    PTC Inc.

9.11.      RetailNext, Inc.

9.12.    SAP SE

9.13.     Softweb Solutions Inc.

9.14.    Verizon Communications Inc.

9.15.     Zebra Technologies Corporation