Global Internet of things (IOT) in Retail Market to reach USD 94.4 billion by 2025 | CAGR: 21.5%
Global Internet of things (IOT) in Retail Market is valued at USD 16.36 billion in 2016 is anticipated to grow USD 94.4 billion with the compounded annual growth of 21.5% over the forecast period 2017-2025.
New York 29 May 2018, as per the new research study conducted by Bizwit Research & Consulting, Global Internet of things (IOT) in the Retail industry is poised to raise USD 94.4 billion by 2025. Some key parts for the market improvement will be; Advancement of the retro-vigilant material, framework, transportation meanders, inferable from the property of offering security by giving upgraded noticeable quality in low light and night conditions.
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Global Internet of things (IOT) retail Market Size study, by Solution (Hardware, software), By Hardware (Beacons, RFID Tags, Sensors, Wearable’s), By Service ( Professional services, managed services), By Technology (Bluetooth low energy, near field communication, zigbee, others) and by Regional Forecasts 2017-2025.
The industry seems to be fairly competitive. Some of the leading market players include Allerin Tech Pvt. Ltd., ARM Holdings Plc, Cisco Systems Inc, Google Inc., IBM Corporation, and so on. Other market players discussed in the report include Impinj Inc., Intel Corporation, Losant IOT Inc., Microsoft Corporation. New product launches, acquisitions, and mergers are some of the strategies adopted by the key manufacturers. Additionally, the fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- Hardware segment captured a market share of over XX% in 2016
- A proliferation of connected devices is offering a significant opportunity to this market.
- Reduction in total cost of ownership and improved return on investments offered by IoT-based hardware devices are expected to increase their adoption.
- Rising demand for enhanced in-stock product positioning and suitable product assortments is expected to drive demand for this market.
- Development of smart technologies such as beacons and Radio Frequency Identification (RFID) tags is expected to fuel segment growth.
Bizwit Research & Consulting LLP has considered the following segments for the study:
- RFID Tags
- Professional services
- Managed services
- Bluetooth low energy
- Near field communication
- North America
- Asia Pacific
- Latin America
- Rest of the World