US Connected Retail and IoT Solutions Market, 2018

US Connected Retail and IoT Solutions Market, 2018

Opportunities Abound for Vendors to Reduce Cost, Improve Operational Effectiveness, and Enhance Customer Experience

RELEASE DATE
20-Nov-2018
REGION
North America
Research Code: K296-01-00-00-00
SKU: CI00587-NA-MT_22567

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Description

This study analyzes the connected retail industry and discusses various areas of opportunity for IoT vendors.

Research Scope:
·     The study provides an overview of the US retail sector, including sector size and historical growth.
·     It highlights various operational areas where IoT solutions are being deployed.     
·     The study offers insights into core IoT solutions such as platforms and connectivity devices.
·     A high-level overview of adoption cycle for IoT is offered.

The US retail sector is facing a period of significant change. Growth in competition, rising operating costs, and the need to effectively manage geographically dispersed supply chains are among the leading challenges faced by retailers across a broad spectrum of markets including department stores, food service outlets, specialty retailers, and others. Increasingly, retailers are turning to IoT to realize operational efficiency, extend asset life cycle, and enhance the overall shopping experience for customers. The IoT solutions implemented by retailers range from inventory tracking to smart lighting solutions that help reduce utility expenditure.

Deploying IoT solutions, however, is a complex task for retailers in that it involves numerous elements, ranging from identification of appropriate solutions and vendors to post-implementation management of devices, connectivity, and applications. Moreover, IoT implementations may require additional capital and operating expenditure, thereby impacting adoption. For many retailers, initial IoT investments are likely to be skewed toward point solutions such as smart video surveillance systems or intelligent inventory tracking and management systems. Such solutions directly address an operational need and hence offer a clear value proposition for retailers. Deployment of integrated, end-to-end IoT solutions encompassing the entire value chain is likely to remain limited to large national and multinational retailers. These retailers typically have complex supply chains and multichannel operations (online and offline) and are geographically dispersed, which makes them an attractive target for IoT vendors.

Growth opportunities for IoT vendors within the connected retail market are analyzed across a range of areas, including core operations, facilities management, utilities consumption, asset monitoring and management, customer experience, and store safety. Moreover, the insight highlights key vendors in this space and their offerings. These include platform vendors, analytics, connectivity, and other retail IoT ecosystem vendors.

Key Questions this Study will Answer:
1.     What are the core issues faced by retailers and how are IoT solutions helping address these challenges?
2.     What are the emerging trends in online and brick-and-mortar retailing?
3.     What is the overall growth opportunity for IoT vendors?
4.     Which are the specific areas within the retail sector that are likely to see greater adoption/implementation of IoT solutions?
5.     What are the strategic alliances and partnerships needed to succeed in the market?

Table of Contents

Related Research
This study analyzes the connected retail industry and discusses various areas of opportunity for IoT vendors. Research Scope: · The study provides an overview of the US retail sector, including sector size and historical growth. · It highlights various operational areas where IoT solutions are being deployed. · The study offers insights into core IoT solutions such as platforms and connectivity devices. · A high-level overview of adoption cycle for IoT is offered. The US retail sector is facing a period of significant change. Growth in competition, rising operating costs, and the need to effectively manage geographically dispersed supply chains are among the leading challenges faced by retailers across a broad spectrum of markets including department stores, food service outlets, specialty retailers, and others. Increasingly, retailers are turning to IoT to realize operational efficiency, extend asset life cycle, and enhance the overall shopping experience for customers. The IoT solutions implemented by retailers range from inventory tracking to smart lighting solutions that help reduce utility expenditure. Deploying IoT solutions, however, is a complex task for retailers in that it involves numerous elements, ranging from identification of appropriate solutions and vendors to post-implementation management of devices, connectivity, and applications. Moreover, IoT implementations may require additional capital and operating expenditure, thereby impacting adoption. For many retailers, initial IoT investments are likely to be skewed toward point solutions such as smart video surveillance systems or intelligent inventory tracking and management systems. Such solutions directly address an operational need and hence offer a clear value proposition for retailers. Deployment of integrated, end-to-end IoT solutions encompassing the entire value chain is likely to remain limited to large national and multinational retailers. These retailers typically have complex supply
More Information
No Index No
Podcast No
Author Imran Khan
Industries Cross Industries
WIP Number K296-01-00-00-00
Is Prebook No
GPS Codes 9705-C1,9AD1-C1,9657,9B07-C1