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Internet of Things (IoT) in Retail Market Worth $94.44 Billion by 2025: Grand View Research, Inc.SAN FRANCISCO, February 8, 2017 /PRNewswire/ -- The global IoT in retail market is expected to reach USD 94.44 billion by 2025, according to a new report by Grand View Research, Inc. This growth can be attributed to the merging of digital and in-store operations in retail stores. (Logo: http://photos.prnewswire.com/prnh/20150105/723757 ) Digital channels are becoming an important touchpoint for an Omni channel experience. Retailers are focusing on gaining a competitive advantage by installing smart shelves and RFID sensors, which detect low inventory and track products throughout the respective supply chain. The adoption of IoT also helps retailers to revolutionize the delivery operations and retail supply chain. The increasing Internet of Things spending in retail sectors for the purpose of premises monitoring, product monitoring, supply chain monitoring, and customer monitoring is driving the demand for IoT-based solutions. Cloud-based IoT solutions are enabling retailers to monitor and analyze the existing processes to improve them with incremental investments in capital equipment. However, with the rising degree of IoT penetration, retailers are still struggling on capitalizing IoT-enabled capabilities. The retail Internet of Things market is expected to witness promising growth as the industry is evolving from the passive approach of monitoring consumer behavior. Optimizing and automating supply chain is one of the key factors for the adoption of connected technology among retailers. However, fragmented technology standards and increasing security concerns are expected to hamper the industry growth. Browse full research report with TOC on "Internet of Things (IoT) In Retail Market Analysis By Solution, By Hardware (Beacons, RFID Tags, Sensors, Wearables), By Service, By Technology (Bluetooth Low Energy, Near Field Communication, ZigBee), By Region, And Segment Forecasts, 2014 - 2025" at: http://www.grandviewresearch.com/industry-analysis/internet-of-things-iot-retail-market Further key findings from the report suggest:
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Grand View Research has segmented the global IoT in retail market based on solution, hardware, service, technology, and region:
Read Our Blog: IoT In Retail Market: Declining cost of components is providing traction to the industry growth About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. Contact:
SOURCE Grand View Research, Inc. |