Trends in IoT Retail Market Study by E-Commerce Platforms, Online Shoppings, Retailers, Supply Chain and Store Operations - Apple, AT&T, Cisco Systems Inc., Bosch, Fujitsu, Google, General Electric, Honeywell, Intel, Qualcomm and Microsoft are the Top Pla
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This report covers the global market for IoT technologies in retail and regional analysis of North America, Latin America, Europe, the Asia-Pacific region and the Rest of World. Component segments include communications, hardware, sensors, software and other segments, as well as in-depth market size and forecast for key end-use segments, including e-commerce providers, big box retailers, and medium and small retailers, as well as customer experience, supply chain and store operation applications.
“Additionally, the use of e-commerce platforms is rapidly increasing owing to the ease of shopping and smartphone penetration in the market, which is likely to boost the market.”
North America dominates the Internet of Things in Retail Market, with more than a REDACTED market share through 2023. The most advanced consumer economy, the U.S. leads the market with some of the world’s largest retailers, including big box dominators such as Walmart and e-commerce pioneers such as Amazon.
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As with most IoT sectors, IoT in retail has unique requirements. In this case, retail IoT includes both the physical and virtual tracking of goods and services, as well as analysis of buyer demand and satisfaction. With a value chain that extends from the retailer’s warehouse to the store and into the hands of consumers, as well as increasingly across the Internet, the retail segment offers a wide variety of applications for the Internet of Things (IoT).
- 39 data tables
- An overview of the Internet of Things (IoT) in global retail markets
- Analyses of global market trends, with data from 2017 and 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Discussion of current standards for IoT data security and future trends that will impact the market growth
- Examination of competitive situations and trends, and information on partnerships and collaborations
- Insight concerning the effects of IoT on the entire retail value chain
- Company profiles of key players in the market, including Apple, AT&T, Cisco Systems Inc., Bosch, Fujitsu, Google, General Electric, Honeywell, Intel, Qualcomm, Microsoft, Samsung and Siemens
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Internet of Things in Retail Market are expected to hamper industry growth and product development. Several devices from different manufacturers that perform same the functions may have fundamentally different data formats and potentially different touch-points, such as frequencies of generating that data, which further leads to lack of interoperability.
Differences Among IoT Security, Cybersecurity and Enterprise IT Security
• Current Standards for Internet of Things Data Security
• IEEE Standards
• FIPS 140-2
• Common Criteria EAL5+
• IETF ACE
• Open Trust Protocol
• Application Authentication Standards: OAUTH 2.0
The fact that Internet of Things in Retail Market is rapidly connecting with these retailing processes is due to increasing internet ubiquity, and emergence of cloud platform. The declining cost of sensors and RFID have also significantly increased its adoption by the retailers. Along with these drivers, the market is facing certain restraints such as lack of common standards, skill gap, and security and privacy concerns.
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