Global Retail IoT Market is Set to Surpass USD 104 Billion by 2027 Owing to the Rising Need for Improvement in Inventory Supply Chain Management from Retail Providers: Says Absolute Markets Insights

Retail owners are increasingly investing and implementing IoT solutions across their stores and warehouses so as to refine operations and leverage on greater revenue generation capabilities. The deployment of various sensors on the consumer side of retail operations allows the companies to anticipate the changes in product demand and thereby aid in improved forecasting in inventory management operations. The retail outlets are also incorporating retail IoT solutions in order to identify specific locations in their outlets having higher customer interaction. This allows retail establishment to adjust the product flow towards that section and improve the management of inventory.

The retail IoT market providers are constantly focusing towards development of customized solutions so as to cater to the specific needs of various retail outlets. Zebra Technologies Corp.’s Savanna platform, offers solutions including Asset Visibility Service (AVS) and Operational Visibility Service (OVS), which allows efficient visibility and traceability of operational and asset performance across the store. This helps retail providers to ensure visibility over the current stocks along with the performance data pertaining to existing operations. In terms of revenue, the global retail IoT market stood at US$ 23,689.0 Mn in 2018 and is anticipated to reach US$ 104,932.2 Mn by 2027, expanding at a CAGR of 18% during the forecast period.

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“In the next six years, global retail IoT market is expected to be driven by the growing demand from big-box stores for IoT solutions aiding in inventory monitoring and asset tracking operations. The rising competition within physical retail establishments has propelled the demand for IoT solutions in the sector to enhance the overall shopping experience of the customers.”

The detailed research study provides qualitative and quantitative analysis of the global retail IoT market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue as well as sales volume across regions and further, across all the major countries. The supply side analysis covers regional production volume and capacity analysis. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa, and Latin America.

Some of the major players operating in the global retail IoT market are 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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Global Retail IoT Market

By Offerings

  • Hardware
  • Software
  • Services

By Application

  • Product Tracking
  • Payments
  • Customer Engagement
  • Supply Chain Management
  • Others

By End Users

  • Supermarkets/Hypermarkets
  • Specialty Stores
  • E-commerce Companies
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of Middle East and Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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