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(Internet of Things) IoT in Retail Market 2024, Key Players; Accenture, Amazon, Cisco, Dell, Hewlett Packard Enterprise, Hitachi, Honeywell, Huawei Technologies, IBM, Intel Corporation, Microsoft, NXP Semiconductors, Oracle, SAP, Verizon, Zebra Technologi
(Internet of Things) IoT in Retail Market
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Internet of Things in Retail Market in Asia Pacific is expected to witness significant growth pertaining to the retail sector in economies such as China, Japan and India. Increasing disposable income of the middle-class population residing in those economies coupled with the growing user base of smartphones lies impetus to the industry growth in the region. Factors such as improving the customer experience followed by speeding up the check-out process is the main reason for implementing such solutions by the retailers.
Internet of Things in Retail Market in North America, being the largest market for retail is expected to grow considerably. This is attributed to the early technology adoption coupled with the presence of an organized retail sector in the region. The retailers in the region mainly focus on enhancing the supply chain performance by heavily investing in technologies such as automated inventory verification.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Accenture
2. Amazon
3. Cisco
4. Dell
5. Hewlett Packard Enterprise
6. Hitachi
7. Honeywell
8. Huawei Technologies
9. IBM
10. Intel Corporation
11. Microsoft
12. NXP Semiconductors
13. Oracle
14. SAP
15. Verizon
16. Zebra Technologies
17. Telit
IoT has enormous potential to transform the retail industry. The various benefits include efficient store management, tracking & monitoring inventory and improvise the store security and loss prevention. Automated check-out, tracking the product quality and optimized supply chain management are among the other benefits of implementing the technology. Growing internet connectivity across various regions coupled with the increasing adoption of smartphones is anticipated to propel the internet of things in retail market growth. Factors such as gradual decline in prices of components such as RFID tags & sensors is expected to contribute to the adoption.
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Increasing installation of IoT solutions by retailers is expected to drive the adoption of connectivity technology such as Bluetooth Low Energy (BLE) in the internet of things in retail market. It identifies the registered customers when they enter the stores and send messages which include customized promotions and offers. BLE is generally used for applications which need exchange of data in low volume and consumes less power as compared to that of Bluetooth. RFID market is anticipated to grow significantly owing to the increasing adoption coupled with the rapidly declining cost of RFID tags.
Hardware segment dominated the IoT in retail market with majority of the revenue share whereas the software segment is predicted to witness strong growth due to the increasing implementation of software solutions and applications across the retail industry. Also, the gradual rise in the use of mobile applications contributes to the strong growth of the software segment.
Companies in the internet of things in retail market comprise Accenture, Amazon, Bosch Software Innovations, Cisco, Dell, Hewlett Packard Enterprise, Hitachi, Honeywell, Huawei Technologies, IBM, Intel Corporation, Microsoft, NEC Corporation, NXP Semiconductors, Oracle, PTC Inc, SAP, Sierra Wireless, Telit, Verizon, and Zebra Technologies.
Browse key industry insights spread across 150 pages with 156 market data tables & 12 figures & charts from the report, Internet of Things in Retail Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/iot-internet-of-things-retail-market
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