Global Internet of things (IOT) in Retail Market

March 6, 2020
653
ICT & Media

New York City, NY, 06 March, 2020/ 24 Market Reports: It is estimated for the global internet of things (IoT) in the retail market to grow from USD 14.8 billion in 2020 and reach that of USD 35.1 billion by 2025, witnessing the growth at a CAGR of 19.4% during the forecast period of 2020 to 2025. The rapidly declining cost of IoT sensors and hardware, customer demand for a seamless shopping experience and increasing adoption of smart payment solutions are the factors that are driving the growth of the market during the forecast period.

Device management platform to hold the highest share in the market during the forecast period

Device management, application enablement and connectivity management are the segmentation for IoT in the retail market based on the platform. It is estimated for the device management platform to hold the highest share in the market during the forecast period. The increasing use of IoT-based endpoints and devices is the factor that is driving the growth of the segment in the market during the forecast period.

Operations management application to lead the market during the forecast period

By application, operations management, asset management, customer experience management and advertising and marketing are the segmentation for the market. The operations management application is expected to lead the market during the forecast period. The segment includes core operations, such as supply chain optimization, workforce management and surveillance and security and these factors are driving the growth of the segment in the market during the forecast period.

APAC region to lead the global internet of things (IoT) in the retail market during the forecast period

North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and Latin America are the segmentation for the global IoT in the retail market based on geography. It is expected for the APAC region to lead the market during the forecast period. The ongoing smart city initiatives and the rapidly declining cost of sensors in the APAC region are driving the growth of the market. Owing to ongoing smart city initiatives and rising population India is showing significant growth in the market whereas, China owns a huge adoption of IoT technologies in the region.

The following are the major objectives of the study:

To define, describe, and forecast the global internet of things (IoT) in the retail market on the basis of product, application and region.
To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, and opportunities).
To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
To analyze the opportunities in the market for key stakeholders and provide details of the competitive landscape for leading market players.
To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
To strategically profile the key market players and comprehensively analyze their market shares and core competencies.
To track and analyze competitive developments such as acquisitions, expansions, new product launches, agreements, and collaborations in the global internet of things (IoT) in the retail market.

Critical Questions which the report answers:

What are the major vendor/manufacturers in the market? What is their growth potential during next decade?
What are the key revenue generating pockets for global internet of things (IoT) in the retail market and their future potential during next decade?
How competitive landscape is evolving in global internet of things (IoT) in the retail market?