Internet of Things (IoT) Market in Retail Applications Market by Technology and Geography - Forecast and Analysis 2022-2026

Published: Feb 2022 Pages: 120 SKU: IRTNTR72332

The internet of things (IoT) market share in retail applications is expected to increase by USD 44.80 billion from 2021 to 2026, at a CAGR of 16.48%.

This internet of things (IoT) market in retail applications research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers internet of things (IoT) market in retail applications segmentation by technology (RFID, sensors, NFC, cloud services, and others) and geography (APAC, North America, Europe, MEA, and South America). The internet of things (IoT) market in retail applications report also offers information on several market vendors, including Amazon.com Inc., AT and T Inc., Allerin Tech Pvt. Ltd., Ayla Networks Inc., Cisco Systems Inc., Intel Corp., International Business Machines Corp., Microsoft Corp., Oracle Corp., and SAP SE among others.

What will the Internet Of Things (IoT) Market Size in Retail Applications be During the Forecast Period?

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Internet Of Things (IoT) Market in Retail Applications: Key Drivers, Trends, and Challenges

The burgeoning cloud-based RFID systems is notably driving the internet of things (IoT) market growth in retail applications, although factors such as data security concerns may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the internet of things (IoT) industry in retail applications. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Internet Of Things (IoT) Market Driver in Retail Applications 

The burgeoning cloud-based RFID systems is one of the key drivers supporting the internet of things (IoT) market growth in retail applications. Using cloud solutions, the risks of losing data and data corruption are reduced as they have several redundancies at lower rates. Several solution providers offer cloud-based solutions such as inventory management, asset management, supply chain management, and services such as data filtering, data processing, inventory services, and data storage. Furthermore, with cloud-based RFID, companies can use centrally managed solutions, cutting down the support and deployment costs. This will push the adoption of the IoT market in retail applications, especially among small manufacturers that cannot afford the high initial costs required to set up RFID infrastructure. Such factors will propel the market growth during the forecast period.

Key Internet Of Things (IoT) Market Trend in Retail Applications 

The evolution of Artificial Intelligence (AI) and Augmented Reality (AR) in retail stores is another factor supporting the internet of things (IoT) market growth in retail applications. AI has offered its conventional capability for conversational commerce, as retailers incorporate chatbots with messaging applications, allowing users to interact with their brands. Furthermore, IoT in retail applications has enabled retailers to set up an automated checkout system using IoT devices. These systems contribute to high customer satisfaction, resulting in higher footfalls, especially during a time crunch. For instance, Nayasale Retail Pvt Ltd., an Indian startup, is a fully AI-powered autonomous retail store in Kerala (India), which features an automated checkout system, eliminating the need for cashiers or salespersons. Such easy accessibility will drive market growth during the forecast period.

Key Internet Of Things (IoT) Market Challenge in Retail Applications 

The data security concerns are hindering the internet of things (IoT) market growth in retail applications. With the use of RFID tags, sensors, and NFC, a high-frequency radio signal transmitted from these tags can be detected from a distance by other radio receivers. This creates chances of the data being accessed by other users. Keeping data secure is of high importance for consumers, governments, and corporations. On the other hand, spoofing is another issue wherein the data collected from tags can be overwritten on other existing RFID tag data using some software. RFID readers or any other sensors cannot detect this overwritten content. These data security issues prove to be a major challenge for manufacturers as they hamper the demand for the IoT market in retail applications during the forecast period.

This internet of things (IoT) market in retail applications analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the internet of things market in retail applications as a part of the global data processing and outsourced services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the internet of things (IoT) market in retail applications during the forecast period.

Who are the Major Internet of Things (IoT) Market Vendors in Retail Applications?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Amazon.com Inc.
  • AT and T Inc.
  • Allerin Tech Pvt. Ltd.
  • Ayla Networks Inc.
  • Cisco Systems Inc.
  • Intel Corp.
  • International Business Machines Corp.
  • Microsoft Corp.
  • Oracle Corp.
  • SAP SE

 

This statistical study of the internet of things (IoT) market in retail applications encompasses successful business strategies deployed by the key vendors. The internet of things (IoT) market in retail applications is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Amazon.com Inc. - The company offers internet of things in retail applications through its subsidiary Amazon Web Services

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The internet of things (IoT) market in retail applications forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Internet of Things (IoT) Market in Retail Applications Value Chain Analysis

Our report provides extensive information on the value chain analysis for the internet of things (IoT) market in retail applications, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the data processing and outsourced services market includes the following core components:

  • Inputs
  • Operations
  • Marketing and sales
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

 

Which are the Key Regions for the Internet of Things (IoT) Market in Retail Applications?

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34% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the internet of things (IoT) market in retail applications in APAC. Market growth in this region will be faster than the growth of the market in North America and Europe.

The increasing adoption of real-time systems and location-based services will facilitate the internet of things (IoT) market growth in retail applications in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Technology Segments in the Internet of Things (IoT) Market in Retail Applications?

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The internet of things (IoT) market share growth in retail applications by the RFID segment will be significant during the forecast period. The RFID tags segment has captured the highest market shares in the global IoT market in retail applications in 2021. This is attributed to the adoption of RFID tags in inventory accounting accuracy and margin growth by reducing product loss. It enables real-time inventory visibility for automating replenishment for consistency and satisfying consumer demands. Thus, the implementation of analytics software in retail and hardware equipment further boosts the demand for hardware, including RFID and sensors during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the internet of things (IoT) market size in retail applications and actionable market insights on post COVID-19 impact on each segment.

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Internet of Things (IoT) Market Scope in Retail Applications 

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 16.48%

Market growth 2022-2026

$ 44.80 billion

Market structure

Fragmented

YoY growth (%)

19.89

Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 34%

Key consumer countries

US, China, Germany, Japan, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Amazon.com Inc., AT and T Inc., Allerin Tech Pvt. Ltd., Ayla Networks Inc., Cisco Systems Inc., Intel Corp., International Business Machines Corp., Microsoft Corp., Oracle Corp., and SAP SE

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Internet of Things (IoT) Market in Retail Applications Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive internet of things (IoT) market growth in retail applications during the next five years
  • Precise estimation of the internet of things (IoT) market size in retail applications and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the internet of things (IoT) industry in retail applications across APAC, North America, Europe, MEA, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of internet of things (IoT) market vendors in retail applications 

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***1. Executive Summary                           

                **1.1     Market Overview            

                                *Exhibit 01:  Key Finding 1

                                *Exhibit 02:  Key Finding 2

                                *Exhibit 03:  Key Finding 3

                                *Exhibit 04:  Key Finding 5

                                *Exhibit 05:  Key Finding 6

                                *Exhibit 06:  Key Finding 7

                                *Exhibit 07:  Key Finding 8

***2. Market Landscape             

              **2.1 Market ecosystem              

                                *2.1.1 Parent Market

                                *Exhibit 08:  Parent market

                                *Exhibit 09:  Market characteristics

                **2.2 Value Chain Analysis          

                                *Exhibit 10:  Value Chain Analysis: Data processing and outsourced services

                                *2.2.1    Inputs

                                *2.2.2    Operations

                                *2.2.3    Marketing and sales

                                *2.2.4    Support activities

                                *2.2.5    Innovations

***3. Market Sizing                       

                **3.1 Market definition

                                *Exhibit 11:  Offerings of vendors included in the market definition

                **3.2 Market segment analysis 

                                *Exhibit 12:  Market segments

                **3.3 Market size 2021 

                **3.4 Market outlook: Forecast for 2021 - 2026 

                                *Exhibit 13:  Global - Market size and forecast 2021 - 2026 ($ billion)

                                *Exhibit 14:  Global market: Year-over-year growth 2021 - 2026 (%)

***4. Five Forces Analysis                          

                **4.1 Five Forces Summary        

                                *Exhibit 15:  Five forces analysis 2021 - 2026

                **4.2 Bargaining power of buyers           

                                *Exhibit 16: Bargaining power of the buyer

                **4.3 Bargaining power of suppliers       

                                *Exhibit 17: Bargaining power of the supplier

                **4.4 Threat of new entrants    

                                *Exhibit 18: Threat of new entrants

                **4.5 Threat of substitutes         

                                *Exhibit 19: Threat of substitutes

                **4.6 Threat of rivalry   

                                *Exhibit 20: Threat of rivalry

                **4.7 Market condition

                                *Exhibit 21: Market condition - Five forces 2021

***5. Market Segmentation by Technology       

               **5.1 Market segments

                                *Exhibit 22:  Technology- Market share 2021 - 2026 (%)

                **5.2 Comparison by Technology             

                                *Exhibit 23:  Comparison by Technology

                **5.3 RFID - Market size and forecast 2021-2026                

                                *Exhibit 24:  RFID - Market size and forecast 2021-2026 ($ billion)

                                *Exhibit 25:  RFID - Year-over-year growth 2021-2026 (%)

                **5.4 Sensors - Market size and forecast 2021-2026         

                                *Exhibit 26:  Sensors - Market size and forecast 2021-2026 ($ billion)

                                *Exhibit 27:  Sensors - Year-over-year growth 2021-2026 (%)

                **5.5 NFC - Market size and forecast 2021-2026 

                                *Exhibit 28:  NFC   - Market size and forecast 2021-2026 ($ billion)

                                *Exhibit 29:  NFC  - Year-over-year growth 2021-2026 (%)

                **5.6 Cloud services - Market size and forecast 2021-2026            

                                *Exhibit 30:  Cloud services - Market size and forecast 2021-2026 ($ billion)

                                *Exhibit 31:  Cloud services - Year-over-year growth 2021-2026 (%)

                **5.7 Others - Market size and forecast 2021-2026           

                                *Exhibit 32:  Others - Market size and forecast 2021-2026 ($ billion)

                                *Exhibit 33:  Others - Year-over-year growth 2021-2026 (%)

                **5.8 Market opportunity by Technology             

                                *Exhibit 34:  Market opportunity by Technology

***6. Customer landscape                         

                                *Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

                **6.1 Overview

                                *Exhibit 35:  Customer landscape

***7. Geographic Landscape                     

                **7.1 Geographic segmentation

                                *Exhibit 36:  Market share by geography 2021-2026 (%)

                **7.2 Geographic comparison   

                                *Exhibit 37:  Geographic comparison

                **7.3 APAC - Market size and forecast 2021-2026              

                                *Exhibit 38:  APAC - Market size and forecast 2021-2026 ($ billion)

                                *Exhibit 39:  APAC - Year-over-year growth 2021-2026 (%)

                **7.4 North America  - Market size and forecast 2021-2026          

                                *Exhibit 40:  North America  - Market size and forecast 2021-2026 ($ billion)

                                *Exhibit 41:  North America  - Year-over-year growth 2021-2026 (%)

                **7.5 Europe - Market size and forecast 2021-2026          

                                *Exhibit 42:  Europe - Market size and forecast 2021-2026 ($ billion)

                                *Exhibit 43:  Europe - Year-over-year growth 2021-2026 (%)

                **7.6 MEA  - Market size and forecast 2021-2026              

                                *Exhibit 44:  MEA   - Market size and forecast 2021-2026 ($ billion)

                                *Exhibit 45:  MEA  - Year-over-year growth 2021-2026 (%)

                **7.7 South America - Market size and forecast 2021-2026           

                                *Exhibit 46:  South America   - Market size and forecast 2021-2026 ($ billion)

                                *Exhibit 47:  South America  - Year-over-year growth 2021-2026 (%)

                **7.8 Key leading countries        

                                *Exhibit 48:  Key leading countries

                **7.9 Market opportunity by geography

                                *Exhibit 49:  Market opportunity by geography ($ billion)

***8. Drivers, Challenges, and Trends                   

                **8.1 Market drivers     

                                *8.1.1    Burgeoning cloud-based RFID systems

                                *8.1.2    Rising need for effective store premise monitoring and inventory management

                                *8.1.3    Government initiatives to boost digitization

                **8.2 Market challenges              

                                *8.2.1    Data security concerns

                                *8.2.2    Lack of technical skills to manage data and gain valuable insights from IoT systems

                                *8.2.3    High cost of installation

 

                                *Exhibit 50:  Impact of drivers and challenges

                **8.3 Market trends      

                                *8.3.1    Evolution of Artificial Intelligence (AI) and Augmented Reality (AR) in retail stores

                                *8.3.2    Optimization and automation of supply chain

                                *8.3.3    Adoption of technologies such as cloud, analytics, mobility, and big data

***9. Vendor Landscape                             

                **9.1 Overview

                                *Exhibit 51:  Vendor landscape

                **9.2 Landscape disruption        

                                *Exhibit 52:  Landscape disruption

                                *Exhibit 53: Industry Risk

                **9.3 Competitive Scenario        

***10. Vendor Analysis               

                **10.1 Vendors covered              

                                *Exhibit 54: Vendors covered

                **10.2 Market positioning of vendors    

                                *Exhibit 55: ?Market positioning of vendors?

                *10.3 Amazon.com Inc.

                                *Exhibit 56:  Amazon.com Inc. - Overview

                                *Exhibit 57:  Amazon.com Inc. - Business segments

                                *Exhibit 58:  Amazon.com Inc. - Key offerings

                                *Exhibit 59:  Amazon.com Inc. - Segment focus

                **10.4 AT and T Inc.       

                                *Exhibit 60:  AT and T Inc. - Overview

                                *Exhibit 61:  AT and T Inc. - Business segments

                                *Exhibit 62:  AT and T Inc. - Key offerings

                                *Exhibit 63:  AT and T Inc. - Segment focus

                **10.5 Allerin Tech Pvt. Ltd.       

                                *Exhibit 64:  Allerin Tech Pvt. Ltd. - Overview

                                *Exhibit 65:  Allerin Tech Pvt. Ltd. - Product and service

                                *Exhibit 66:  Allerin Tech Pvt. Ltd. - Key offerings

                **10.6 Ayla Networks Inc.           

                                *Exhibit 67:  Ayla Networks Inc. - Overview

                                *Exhibit 68:  Ayla Networks Inc. - Product and service

                                *Exhibit 69:  Ayla Networks Inc. - Key offerings

                **10.7 Cisco Systems Inc.            

                                *Exhibit 70:  Cisco Systems Inc. - Overview

                                *Exhibit 71:  Cisco Systems Inc. - Business segments

                                *Exhibit 72:  Cisco Systems Inc. - Key offerings

                                *Exhibit 73:  Cisco Systems Inc. - Segment focus

                **10.8 Intel Corp.           

                                *Exhibit 74:  Intel Corp. - Overview

                                *Exhibit 75:  Intel Corp. - Business segments

                                *Exhibit 76:  Intel Corp.– Key news

                                *Exhibit 77:  Intel Corp. - Key offerings

                                *Exhibit 78:  Intel Corp. - Segment focus

                **10.9 International Business Machines Corp.    

                                *Exhibit 79:  International Business Machines Corp. - Overview

                                *Exhibit 80:  International Business Machines Corp. - Business segments

                                *Exhibit 81:  International Business Machines Corp. - Key offerings

                                *Exhibit 82:  International Business Machines Corp. - Segment focus

                **10.10 Microsoft Corp.              

                                *Exhibit 83:  Microsoft Corp. - Overview

                                *Exhibit 84:  Microsoft Corp. - Business segments

                                *Exhibit 85:  Microsoft Corp. - Key news

                                *Exhibit 86:  Microsoft Corp. - Key offerings

                                *Exhibit 87:  Microsoft Corp. - Segment focus

                **10.11 Oracle Corp.     

                                *Exhibit 88:  Oracle Corp. - Overview

                                *Exhibit 89:  Oracle Corp. - Business segments

                                *Exhibit 90:  Oracle Corp. - Key offerings

                                *Exhibit 91:  Oracle Corp. - Segment focus

                **10.12 SAP SE

                                *Exhibit 92:  SAP SE - Overview

                                *Exhibit 93:  SAP SE - Business segments

                                *Exhibit 94:  SAP SE– Key news

                                *Exhibit 95:  SAP SE - Key offerings

                                *Exhibit 96:  SAP SE - Segment focus

***11. Appendix                            

                **11.1 Scope of the report         

                                *11.1.1 ????Market definition

                                *11.1.2 ????Objectives

                                *11.1.3 ????Notes and caveats

                **11.2 Currency conversion rates for US$            

                                *Exhibit 97: ?Currency conversion rates for US$?

                **11.3 Research Methodology 

                                *Exhibit 98: ?Research Methodology

                                *Exhibit 99: ??Validation techniques employed for market sizing?

                                *Exhibit 100: ??Information sources

                **11.4 List of abbreviations        

                                *Exhibit 101: List of abbreviations

               

               

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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