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). 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.
The market is already well-established for applications such as inventory tracking and in-store analytics, as well as consumer marketing and demand generation. IoT will benefit from this foundation and find rapid adoption as a new tool to bring efficiency and automation to these applications. These benefits are critical in retail, where reducing time to market for high-demand products and low-cost service delivery are key benchmarks for revenue growth and profitability.
North America dominates the global market for IoT in retail, 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. BCC Research estimates that investment rate in the region will increase from REDACTED billion in 2018 to REDACTED billion in 2023 at a CAGR of REDACTED.
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.
- 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