IoT in Retail Market Worth $42.6 Billion by 2029

 

Meticulous Research®—a leading global market research company, published a research report titled, IoT in Retail Market by Component (Hardware, Services, Connectivity, and Platform), Application (Customer Experience Management, Operations Management, Asset Management) - Global Forecast to 2029.

According to this latest publication from Meticulous Research®, the global IoT in retail market is expected to grow at a CAGR of 17.2% from 2022 to 2029, to reach $42.6 billion by 2029.

The IoT in retail market is driven by the growing customer demand for a seamless shopping experience, the increasing adoption of smart payment solutions, and the declining cost of IoT sensors and hardware. However, security concerns due to vast data flow and misconceptions and the lack of knowledge regarding IoT in retail restrain the growth of this market to some extent. However, the increasing investment in retail automation and the growing demand for IoT in retail solutions in developed and developing regions worldwide are expected to offer significant growth opportunities for players operating in this market.

To provide efficient analysis, Meticulous Research® has segmented this market by component (hardware, services, connectivity, platform), application (customer experience management, operations management, asset management), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes regional and country-level markets.

Download Free PDF Sample Copy of the Report (with COVID-19 Impact Analysis):  https://www.meticulousresearch.com/download-sample-report/cp_id=5315

Based on component, in 2022, the hardware segment is expected to account for the largest share of the IoT in retail market. Factors such as consistent engagement of the industrial sector in improving efficiency, reducing costs, and increasing Overall Equipment Effectiveness (OEE) through better access to information from real-time solutions attribute to the growth of this segment. However, the platform segment is projected to grow at the highest CAGR during the forecast period. The increasing customer demand for a seamless shopping experience and the growing need for superior monitoring technologies drive the growth of this segment.

Based on application, in 2022, the customer experience management segment is expected to account for the largest share of the IoT in retail market. The large market share of this segment is attributed to the increasing need to improve customer engagement and reduce customer churn rates, better customer understanding, and the rising need for collecting all the information on a single platform. However, this segment is also projected to grow with the highest CAGR during the forecast period.

To Gain More Insights into the Market with a Detailed Table of Content and Figures, Click Here: https://www.meticulousresearch.com/product/iot-in-retail-market-5315

Based on geography, in 2022, Asia-Pacific is expected to account for the largest share of the IoT in retail market. Prominent key players in this region are expected to contribute to the high revenue share due to the rapid economic growth in major countries such as China, Japan, India, and South Korea. Additionally, the advent of Industry 4.0, high, rising demand for retail automation, and high Internet of Things penetration are driving the demand for IoT in retail market in Asia-Pacific.

The key players operating in the Internet of Things in retail market are ABB Ltd. (Switzerland), NEC Corporation (Japan), Cisco Systems, Inc. (U.S.), IBM Corporation (U.S.), Intel Corporation (U.S.), Microsoft Corporation (U.S.), Amazon Web Services, Inc. (U.S.), PTC, Inc. (U.S.), Huawei Technologies Co., Ltd (China), Allerin Tech Pvt Ltd. (India), RetailNext, Inc. (U.S.), Impinj, Inc. (U.S.), Software AG (Germany), Vodafone Group Plc (U.K.), and Sierra Wireless (Canada).

You can Buy Report from Here: https://www.meticulousresearch.com/Checkout/19125670

Key questions answered in the report-

·  Which are the high-growth market segments in terms of the component, application, and geography?

·  What is the historical market for Internet of Things in reatil across the globe?

·  What are the market forecasts and estimates for the period 2022–2029?

·  What are the major drivers, restraints, and opportunities in the global Internet of Things in reatil market?

·  Who are the major players in the globalInternet of Things in retail market, and what share of the market do they hold?

·  How is the competitive landscape?

·  What are the recent developments in the global Internet of Things in retail market?

·  What are the different strategies adopted by the major players in the market?

·  What are the geographic trends and high-growth countries?

·  Who are the local emerging players in the global IoT in retail market, and how do they compete with the other players?

 

Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research

 

 

 

Comments

Post a Comment

Popular posts from this blog

Airport Logistics Systems Market to Be Worth $9 Billion by 2031

  According to a new market research report titled, the airport logistics systems market is projected to reach $9 billion by 2031, at a CAGR of 9.8% from 2024 – 2031. Airport logistics systems refer to a wide range of processes and technologies that facilitate the efficient operation of an airport. These systems are highly integrated and use technologies such as RFID, barcoding, and advanced software to improve efficiency, security, and the overall passenger experience at airports. These systems are employed across a range of applications essential for airport operations, including baggage handling, flight scheduling and management, passenger check-in, security screening, air traffic control, ground handling, and facility maintenance. Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=4390 The global airport logistics systems market is expected to register significant growth in the upcoming years, driven by globalizati...
Read more

A Comprehensive Guide to Waste Management

Image
  Redding, California, Sept. 12, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled,  ‘ Waste Management Market  by Waste Type (Hazardous Waste, Industrial Waste, E-waste), Waste Management Method (Landfilling, Recycling, Incineration), and Source (Residential, Commercial, Municipal, and Industrial)—Global Forecast to 2030’,  the waste management market is projected to reach $703.9 billion by 2030, at a CAGR of 4.9% during the forecast period. A waste management system or waste disposal is a streamlined process that organizations use to dispose, reduce, reuse, and prevent waste. It is also an approach where companies implement comprehensive strategies to manage wastes from their origin until their final disposal. Waste management involves various interventions in the generation, prevention, characterization, monitoring, treatment, handling, reuse, and ultimate residual disposal of solid wastes. Possible waste disposal methods are recycling, c...
Read more

Top 10 Companies in Vietnam Carton board Paper Market Unveiled

Image
  Meticulous Research, a leading market research company, has released its latest report on the Vietnam Cartonboard Paper Market, highlighting the top 10 companies operating in this rapidly growing industry. The report predicts that the Vietnam Cartonboard Paper Market is poised to reach USD 637.5 million by 2030, with a remarkable CAGR of 10.6% during the forecast period from 2023 to 2030. The growth of the Vietnam cartonboard paper market is attributed to several key factors, including the increasing demand for sustainable and eco-friendly packaging solutions, a surge in the demand for consumer goods, and the growth of e-commerce. However, challenges like fluctuating raw material prices and declining use of printed packaging materials are among the hurdles faced by the market. Nevertheless, the emergence of innovative sustainable and customizable packaging solutions is expected to open new growth opportunities. Additionally, the increasing demand for smart packaging is identifi...
Read more