IoT in Retail Market exploring future growth and trends by 2024
Category: #technology  By Ronak Bora  Date: 2020-01-15
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 IoT in Retail Market exploring future growth and trends by 2024

IoT in retail market is carving out new growth scopes for itself with such technologies as IoT sensors which can be used in supermarkets for temperature maintenance. IoT sensors can be fitted into freezers to check temperatures to make sure they are appropriate, collect data from smart shelves and transmit it to store associates for analysis and help in understanding which products appeal to consumers so that stores can arrange items on display accordingly.

The expansion of IoT in retail market share bears evidence how IoT has revolutionized retail, a trend that is predicted to continue with considerable vitality in the upcoming years. The precedent for such a trend has been set forth by the Amazon Go stores that are being established all over the U.S.

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Though in many cases the use of IoT in retail is not as obvious as in the case of Amazon Go, yet it has unanimously agreed upon by IoT in retail market players that the advent of connected technology is about to revolutionize the retail space. IoT is expected to fundamentally disrupt the retail industry in the coming years due to the fact that with connected technologies retailers can introduce and maintain streamlined supply chain and management systems.

With studies indicating that 70% of retail decision makers across the world are interesting in adopting IoT technologies by 2021, IoT in retail sector is projected to garner considerable proceeds from such a willingness of technological adoption.

IoT in retail industry is changing fundamental elements in supermarkets such as the display shelves. Smart supermarket shelves are being equipped with RFID, personalized advertisements and electronic labels to display information particularly catered to increase sales. For instance, an American retail giant recently deployed cloud-based display solution for its store shelves that display advertisements, nutritional data, prices, videos and coupons. Customers can instantly compare nutritional information between the brands of products and scan coupons with their phones.

Digital signage is yet another IoT element that is adding to the growth scope of IoT in retail market as digital signage has been found to be significantly effective in bringing prospective shoppers to the store. According to a study conducted by a reputed digital signage software company, more than 75% of consumers have felt persuaded to enter a store because the sign interested them while more that 68% made a purchase after entering the site.

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IoT in retail markets of developed nations of North America and Europe are much more suited to the adoption of advanced technologies but emerging economies with their smart consumers are quickly catching up. This has made Asia Pacific highly suited for the expansion of global market. Asian omni-channel distributors are lately noticing the potential in the India retail market for IoT products and aim to introduce a collection of such products in the region, a move that clearly underlines the promise market holds in India and other Asian economies.

Some Points From Table Of Content: -

Chapter 4.   IoT in Retail Market, By Platform

4.1.  Global IoT in retail industry share by platform, 2016 & 2024

4.2.  Network management

4.2.1. Market estimates and forecast, 2013 - 2024

4.2.2. Market estimates and forecast, by region, 2013 - 2024

4.3.  Device management

4.3.1. Market estimates and forecast, 2013 - 2024

4.3.2. Market estimates and forecast, by region, 2013 – 2024

4.4.  Application management

4.4.1. Market estimates and forecast, 2013 - 2024

4.4.2. Market estimates and forecast, by region, 2013 – 2024

Chapter 5.   IoT in Retail Market, By Technology

5.1.  Global IoT in retail industry share by technology, 2016 & 2024

5.2.  Sensor

5.2.1. Market estimates and forecast, 2013 - 2024

5.2.2. Market estimates and forecast, by region, 2013 – 2024

5.3.  RFID

5.3.1. Market estimates and forecast, 2013 - 2024

5.3.2. Market estimates and forecast, by region, 2013 – 2024

5.4.  Connectivity technology

5.4.1. Market estimates and forecast, 2013 - 2024

5.4.2. Market estimates and forecast, by region, 2013 - 2024

5.5.  Others

5.5.1. Market estimates and forecast, 2013 - 2024

5.5.2. Market estimates and forecast, by region, 2013 – 2024

Browse Complete Table of Content @ http://decresearch.com/toc/detail/iot-internet-of-things-retail-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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