IoT in Retail Market Global Analysis and Forecasts by Technology, Application and End-User Vertical - Vendors Microsoft Corporation, IBM Corporation, Cisco Systems, SAP AG and Zebra Technologies

IoT in Retail market is expected to grow at a CAGR of over 19% from 2017 to 2024. Rising demand for improving the purchase experience is anticipated to drive the IoT in retail market over the estimated timeframe. In order to bring in innovations in the stores, giving away offers on the basis of browsing history and buying behavior, retail stores across the globe are increasingly implementing IoT solutions. Growing usage of intelligent solutions coupled with the emerging trend of digitization in the sector contributes to the industry demand.

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Companies operating in the IoT in retail market include SAP AG, IBM Corporation, Zebra Technologies, Intel Corporation, Cisco Systems and Microsoft Corporation. The industry is currently witnessing increasing entry of players with innovative solutions. Players are following strategies such as new product launches, merger & acquisitions to increase hold and expand into potential markets.

Factors including data privacy and security concerns might curb the IoT in retail market growth over the forecast timespan. Components in the IoT network are vulnerable to cyber-attacks such as DDoS, which is expected to limit the industry demand. Furthermore, lack of standards followed by rising expenses related to the implementation of IoT solutions pose a challenge to the industry players.

Report Content

Chapter 1. Methodology & Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Scope, definition and research parameters
1.2. Data Sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. IoT in retail industry 360º synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Platform trends
2.1.4. Technology trends
2.1.5. Service trends
2.1.6. Component trends
2.1.7. Application trends
Chapter 3. Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Component suppliers
3.3.2. Software providers
3.3.3. Technology providers
3.3.4. Service providers
3.3.5. System integrators
3.3.6. Vendor matrix
3.3.7. Distribution channel analysis
3.4. Technology & innovation landscape
3.5. Regulatory landscape
3.5.1. U.S.
3.5.2. EU
3.5.3. China
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.1.1. Increasing demand to enhance the customer experience in the U.S.
3.6.1.2. Advanced infrastructure in the U.S. and Europe
3.6.1.3. Technological advancements in the U.S.
3.6.1.4. Declining cost of hardware components in China and India
3.6.1.5. Emerging organized retail industry in India
3.6.1.6. Increasing adoption of cloud platform in EU
3.6.2. Industry pitfalls & challenges
3.6.2.1. Data security & privacy concerns
3.6.2.2. Lack of knowledge
3.6.2.3. High implementation cost
3.7. Growth potential analysis
3.8. Porter's analysis
3.9. Company market share analysis, 2016
3.9.1. Strategy dashboard
3.10. PESTEL analysis

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Retailers are focusing on deploying such advanced technological solutions to gain insights into customers purchase behavior, delivering customized promotional offers fueling the IoT in retail market growth. To reduce operational costs and streamlining overall business operations, IoT is currently witnessing high adoption across the sector. Furthermore, increasing implementation of such solutions could be attributed to the cost reduction of RFID tags and sensors, which are used for inventory tracking, theft reduction and enhanced supply chain management resulting in streamlining business operations.

Enormous volume of data is generated by the systems in the IoT network, creating the demand for intelligent and sophisticated data management solutions. The device management platforms allow the users to gather and analyze the information to enhance the operational efficiency, optimize store operations and productivity resulting in achieving desired business goals. Due to the rising demand for management of devices in the IoT network, the network device management segment will witness considerable growth.

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