IoT in Retail Market : Worldwide Study on Top Players | Bosch Software Innovations GmbH, Hewlett-Packard Enterprise, Honeywell International, Inc., Huawei Technologies Co., Ltd., Microsoft Corporation, Cisco Systems, IBM Corporation, Intel Corporation, Or

Will consistent development of connectivity tech foster IoT in retail market size?

Internet of things (IoT) in retail market size has expanded considerably over the years as retailers have been increasingly adopting smart technologies to reduce costs, improve customer experience and enhance overall performance of operations. Rising use of smart devices across the globe along with the rapid expansion of digitization in the retail sector will help drive the industry growth.

With the accelerating pace of the retail industry, businesses have been increasingly deploying IoT solutions to comprehend the buying behavior, gain shoppers insights and deliver promotions & offers. Additionally, the brick and mortar stores have transformed to digital payment methods, while using digital signages for marketing.

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Rising awareness regarding the usage of IoT coupled with the advancements in connectivity technology will help boost IoT in retail industry trends over the projected time period.

How will different government initiatives worldwide propel IoT in retail market share?

The governments in both European and Asian countries have taken major initiatives to enhance their retail sector and boost IoT in retail industry. These initiatives have assisted businesses in deploying advanced as well as digitized products that offer benefits of consumer attraction and high efficiency.

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The Indian government has permitted 100% Foreign Direct Investment (FDI) for single-brand retail in the country. The investment shall be under the automatic route which may not need approval from the government and will have liberalized local sourcing norms.

Similar steps taken to promote the expansion of retail businesses and adoption of modern techniques of business will fuel IoT in retail market forecast.

Will the adoption of faster connectivity technologies boost global IoT in retail industry size?

There has been a surging adoption of connectivity technologies like Bluetooth Low Energy (BLE), owing to the rise in IoT solution installations by retailers. The technology helps to detect the registered customers as they enter the stores and send them customized offers and promotions via messages.

BLE is used in applications that require low volume exchange of data as well as consumes lesser power in comparison with the Bluetooth devices. RFID is projected to exhibit significant growth prospects in the forthcoming years on account of a rapid decrease in the RFID tags cost resulting in escalating adoption of the product.

Implementation of such components in technologically advanced solutions will highlight the capabilities of the store and expand customer reach.

How will the emerging demand for software components influence the IoT in retail business outlook?

Increasing adoption of cloud-based platforms for applications like remote monitoring, security and data management has induced a massive demand for software components for IoT deployment in retail space.

With the thriving use of tablets and smartphones and increasing move towards BOYD trends, retailers have integrated these technologies within stores to manage its operations and boost the implementation of IoT software.

Leading information technology firms are known to deliver retail-specific IoT solutions that are an amalgamation of both hardware and software components. Consistent development of solutions and continuous upgradation of existing infrastructure will bolster IoT deployment.

What effect will the rising capital investments have on Brazil IoT in retail market share?

Brazil IoT in retail market size is slated to amass substantial gains over the analysis period owing to the rapid development in manufacturing, retail and automotive industries. Brazilian retail sectors have been receiving sturdy investments which will help escalate the adoption and implementation of IoT solutions in this region.

Few key retail companies have been indulging in the rapid deployment of IoT solutions that will meet the rising needs of the customers. The government in Brazil has taken certain initiatives that will boost new partnerships & collaboration, learning institutes and start-ups that will promote IoT technology and drive IoT in retail market size over the study period.

The country has been receiving several investments to bolster the IoT development strategy. For instance, Qualcomm announced in September 2018, that it has launched a laboratory in Brazil which will help the firm achieve its IoT strategies.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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Email: sales@gminsights.com

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