Internet of things (IoT) technologies is helping traditional retail stores in improving business process and operations. In retail; efficient operations, business processes and improved customer experiences directly impact the revenue growth. In today’s world of smart devices, IoT adoption in retail is not just an option but a necessity to remain competitive. IoT applications for retail are still evolving with the presence of several vendors offering piecemeal solutions. There are large number of vendors providing IoT solutions to specific segments of retail market. Hence, it is often challenging to find right implementation of IoT solutions to get maximum efficiency. However, the scope of benefits with early adoption of IoT outweighs the cost and the early adopters can enjoy significant competitive advantage over traditional stores.

According to Quadrant Knowledge Solutions latest research “IoT in Retail Market Outlook” the market is expected to grow at a CAGR of 16.4% from 2016-2020. According to research findings, acquiring advanced customer insights, improving customer experience, and increasing competition are amongst the major factor driving the adoption of IoT in retail industries.

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IoT in Retail Market Outlook is a part of Quadrant’s Information and Communication Technologies and Internet of Things domain research service. This research service provides strategic insights, market forecast, market share, and detailed market opportunities of IoT market in retail.

The study covers detailed market analysis of various IoT applications including Digital Signage, Energy Optimization, Location-based Services, RFID Solution, Smart Mirrors, Smart Payment, Smart Shelves & Doors, Smart Vending Machines, Smart Video Monitoring and Analytic solutions.

IoT market in retail is still in emerging stage with the presence of several vendors with piecemeal solutions. However, several vendors are developing comprehensive and integrated solutions, covering wide range of IoT applications for retails. Increasing number of successful implementations and case studies is expected to boost confidence amongst retailers during 2016-2020, finds Quadrant Knowledge Solutions.

Keywords: Internet of Things, IoT, Retail, Digital Signage, Energy Optimization, Location-based Services, RFID Solution, Smart Mirrors, Smart Payment, Smart Shelves, Smart Doors, Smart Vending Machines, Smart Video Monitoring, Video Analytics, Automated Operations, Merchandising, Customer Experience, In-store Management, Supply Chain Integration

About Quadrant Knowledge Solutions

Quadrant Knowledge Solutions is a global advisory and consulting firm focused on helping clients in achieving business transformation goals with Strategic Business, and Growth advisory services.

At Quadrant Knowledge Solutions, our vision is to become an integral part of our client’s business as strategic knowledge partner. Our research and consulting deliverable are designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environment.



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