Internet Of Things (IoT) Market In Retail Applications 2024-2028
The internet of things (IoT) market in retail applications is forecasted to grow by USD 71.2 bn during 2023-2028, accelerating at a CAGR of 22.8% during the forecast period. The report on the internet of things (IoT) market in retail applications provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by burgeoning cloud-based radio frequency identification (RFID) systems, rising need for effective store premise monitoring and inventory management, and government initiatives to boost digitization.
Technavio's internet of things (IoT) market in retail applications is segmented as below:
- By Technology
- RFID
- Sensors
- NFC
- Cloud services
- Others
- By Geographical Landscape
- APAC
- North America
- Europe
- Middle East and Africa
- South America
This study identifies the evolution of artificial intelligence (AI) and augmented reality (AR) in retail stores as one of the prime reasons driving the internet of things (IoT) market in retail applications growth during the next few years. Also, adoption of technologies such as cloud, analytics, mobility, and big data and optimization and automation of supply chain of internet of things (IoT) in retail applications will lead to sizable demand in the market.
The report on the internet of things (IoT) market in retail applications covers the following areas:
- Internet Of Things (IoT) Market In Retail Applications sizing
- Internet Of Things (IoT) Market In Retail Applications forecast
- Internet Of Things (IoT) Market In Retail Applications industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading internet of things (IoT) market in retail applications vendors that include Allerin Tech Pvt. Ltd., Alphabet Inc., Amazon.com Inc., AT and T Inc., Ayla Networks Inc., Cisco Systems Inc., Fujitsu Ltd., General Electric Co., Hewlett Packard Enterprise Co., Hitachi Ltd., Huawei Technologies Co. Ltd., Impinj Inc., Intel Corp., International Business Machines Corp., Microsoft Corp., Nayasale Retail Pvt. Ltd., Nedap NV, NXP Semiconductors NV, Oracle Corp., Robert Bosch GmbH, SAP SE, and Siemens AG. Also, the internet of things (IoT) market in retail applications analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.