In terms of revenue, the global retail IoT market stood at US$ 23,689.0 Mn in 2020 and is anticipated to reach US$ 104,932.2 Mn by 2030, expanding at a CAGR of 18% during the forecast period. The study analyzes the market in terms of revenue across all the major regions, further bifurcated into countries. The “Global Retail IoT Market Analysis To 2030″ is a specialized and in-depth study of the industry with a special focus on the global market trend analysis. The Retail IoT market report aims to provide an overview of the Retail IoT market with detailed market segmentation by type, application, and geography. The global Retail IoT market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Retail IoT market players and offers key trends and opportunities in the market.
Top Key Players includes in this report: ALLERIN TECH PVT LTD, Alphabet Inc. (Google LLC), Arm Limited, Cisco, Dipole RFID, Impinj, Inc., Intel Corporation, KaaIoT Technologies, LLC, LOSANT IOT, MediaTek Inc., Microsoft, NXP Semiconductors, Qualcomm Technologies, Inc., SAP SE, Scala Digital Signage, SIGFOX, Softweb Solutions Inc. (An Avnet Company), Verizon, Wi2Wi, Inc., Xynage, and Zebra Technologies Corp. amongst others.
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Retailers are experiencing a paradigm shift in their business model by harnessing the potential of emerging technologies. Global Retail IoT market is expected to suffice the requirement of the retail sector through innovative solutions that lead towards business growth. Internet of Things (IoT) is one such technology that is connecting different machines, devices and objects with an aim to create a smart world. IoT applications are gaining momentum in the retail sector, with an aim to improve customer engagement and experience by helping retailers in understanding customer’s shopping habits. Some of the initiatives undertaken to utilize technological aids include digital signage, information beacons and radio frequency identification devices, which is helping to improve buying experience of customers. Marketing initiatives at particular locations using digital signage is one of the factors responsible for product awareness in stores.
The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries including Biotechnology, medical devices, pharma Industry, and many more. Trade barriers are further restraining the demand- supply outlook. As government of different regions have already announced total lockdown and temporarily shutdown of industries, the overall production process being adversely affected; thus, hinder the overall Retail IoT market globally. This report on ‘Retail IoT market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The report also showcases market trends and forecast to 2028, factoring the impact of Covid -19 Situation.
Retail IoT Market Segmentation:
- Product Tracking
- Customer Engagement
- Supply Chain Management
By End Users
- Specialty Stores
- E-commerce Companies
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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