The rapid evolution of the retail environment is changing the way customers are switching to retail stores and helping the entire shopping journey. One of the main obstacles that retailers are witnessing is the amount of time they wait for a consumer to pay for their purchased product. Retail IoT solutions have been shown to be beneficial to consumers by spending time choosing the products they want to buy. This is done by providing a simple payment gateway through a digital payment interface or by connecting a mobile application to set up automatic payment when leaving premises.
The global internet (IoT) of the retail market is expected to reach $ 104932.2 Million by 2027 and will represent a CAGR of 18% over the forecast period. Increased flexibility, multiple distribution channels, improved service and increased demand for experience are expected to stimulate industry growth during the forecast period. This growth may be due to the merger of digital and store operations at retail stores.
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Global key Players:- ALLERIN TECH PVT LTD, Alphabet Inc. (Google LLC), Arm Limited, Cisco, Dipole RFID, Impinj, Inc., Intel Corporation, KaaIoT Technologies, LLC, LOSANT IOT, MediaTek Inc., Microsoft, NXP Semiconductors, Qualcomm Technologies, Inc., SAP SE, Scala Digital Signage, SIGFOX, Softweb Solutions Inc. (An Avnet Company), Verizon, Wi2Wi, Inc., Xynage, and Zebra Technologies Corp. amongst others.
With the ongoing evolution of retailers such as Omni Channel shopping and fast smartphone adoption, retailers can create brick and mortar shopping experiences. Smart retailers use the right technology and make their stores interactive. Smartphones and tablets implemented with Bluetooth low energy (BLE) are used to promote products and encourage social sharing.
Retail IoT Market
- Product Tracking
- Customer Engagement
- Supply Chain Management
By End Users
- Specialty Stores
- E-commerce Companies
- North America
- Asia Pacific
The global research report highlights:
- In-depth analysis of the Retail IoT Market
- Strategic planning methodologies
- Applicable and effective sales methodologies
- Detailed elaboration on drivers, restraints, and opportunities
- Analysis of different financial aspects
- Tracking of global opportunities
- Latest industry trends and developments
Finally, researchers throw light on manufacturers responsible for increasing sales in the Retail IoT Market. These manufacturers have been inspected in terms of the manufacturing base, contact details, and competitors. The report describes the definitions, specification, and classification of the Retail IoT Market.
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