Global Internet of Things in Retail Market and Gesture Recognition in Retail Market: Size by Application, Type, Trend, Growth & Forecasts 2023

Gesture Recognition in Retail Market and Global Internet of Things in Retail Market is a focused study on major leading industry players with information such as market Trends, Statistics, Segmentation by Types-Application, Growth, Market Share, Revenue & top Regions by demand & Growth perspective.

Dallas, United States - September 6, 2018 /MarketersMedia/ —

Global Internet of Things in Retail Market 2018-2023:
The global Internet of Things in the retail market was valued at USD 18.53 billion in 2017 and is expected to reach USD 57.28 billion by 2023 witnessing a CAGR of 20.16% during the forecast period of 2018–2023. The scope of the report is limited to components including hardware and software, and services including managed, and professional. The regions considered in the scope of the report include North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The study also emphasizes the benefits of implementation of the Internet of Things in retail by diverse industries and prospects of the same.
Internet of Things helps in connecting various smart devices to ease the operation and sharing of data among peers. There are various smart devices such as sensors, smartphones, and wearables, which collect data from the devices that can be utilized to enhance customer’s experience. Additionally, the use of e-commerce platforms is rapidly increasing owing to the ease of shopping and smartphone penetration in the market, which is likely to boost the market. The increasing need for data analysis and integration of analytics is expected to propel the utilization of the Internet of Things market over the forecast period.

The major players include - INTEL CORPORATION, CISCO SYSTEMS, INC., GOOGLE INC., SAP SE, AMAZON WEB SERVICES, INC., PTC INC., and CARRIOTS, amongst others.

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Rising Adoption of Cloud Platform
The adoption of cloud platform is on the rise owing to the ease of storage and sharing with diverse set of people. Furthermore, it offers high security from natural disasters and data loss, which is likely to boost the market over the next six years. The downtime in traditional storage can increase owing to hardware maintenance, whereas cloud offers comparatively less downtime, owing to which, it is highly preferred over its counterpart. This is expected to boost the utilization of cloud platform thereby propelling the market growth over the forecast period.

Managed Services to Exhibit Highest Growth
Managed services are becoming popular owing to companies’ increasing focus on core competencies. Further, the third party companies also offer enhanced data management with regular maintenance, which is likely to boost the market growth over the forecast period. Moreover, the organizations outsource their cloud and other IT services in order to increase the competencies. The companies are increasingly investing in managed IT services owing to rising growing retail industry thereby propelling the market.

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Recent Developments
March 2018 - Zebra Technologies launched intelligent desktop printers for healthcare industry to enhance patient care. This will boost the healthcare chain across the globe and bring high influx of income.

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Table of Content:

1. Introduction
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
5. Technology
6. Market Segmentation
7. Competitive Intelligence – Company Profiles
Continued…

Part Two: Global Gesture Recognition in Retail Market

The global gesture recognition in retail market is projected to register a CAGR of 27.54% over the forecast period of 2018–2023. This report provides information about the leading players in the market and a corresponding detailed analysis of the top vendors in the gesture recognition market in retail. In addition, the report discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by the vendors and the market at large, as well as, the key trends that are emerging in the market.

Gesture recognition will give a new meaning to window shopping. Its impact will be visible throughout the retail industry over the coming years. This technology will enable shoppers to find their preferred products with a simple wave of the hand, allow consumers to search specific product using a touch-less PC monitor (digital catalog). Gesture recognition enhances the consumer’s in-store experience. Additionally, it will also provide marketing opportunities to the brands to build awareness. The market is driven by retail giants, such as Amazon, filing patents for package delivery drones with a sensor system for registering visible/audible gestures allowing communication with gesture database.

The major players include - GESTURETEK, INC., INTEL CORPORATION, APPLE INC., MICROSOFT CORPORATION, GOOGLE INC., COGNITEC SYSTEMS GMBH, OMRON CORPORATION, INFINEON TECHNOLOGIES AG, SOFTKINETIC SA, ELLIPTIC LABORATORIES AS, CRUNCHFISH AB, and SONY CORPORATION, amongst others.

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Increasing Digitalization in Retail Driving Market
Retail giants are experimenting with ways to digitalize shopping for consumers to transform their experiences enabling better handling of processes. Giants are investing in concept stores to understand consumer interaction with gesture-based technologies. More than 90% of retail sale transactions occur within stores and two-thirds of consumers who purchased online use the store before/after the transaction. With technologies, such as virtual reality and augmented reality rapidly proliferating, it allows consumers to try the products without touching them physically. About 82% of smartphone users consult their mobile devices in the store before deciding their purchases. Such factors are increasing the digitalization in the retail industry, and growth opportunities within the industry are leading to the growth of the market in gesture recognition in retail market.

Key Developments in the Market
December 2017: Sony launched back-illuminated, time-of-flight (ToF) image sensor, which delivers high-resolution depth maps in high degrees of accuracy from a close distance.
June 2017: Omron Corporation launched super-sensitive MEMS thermal sensor with narrow-field version particularly design for providing accurate non-contact measurement of objects.

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