Technavio's latest report on the global machine-to-machine (M2M) services market in the retail industryprovides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170810005522/en/
Technavio has published a new report on the global machine-to-machine (M2M) services market in retail industry from 2017-2021. (Photo: Business Wire)
The global M2M services market in the retail industry is likely to grow rapidly during the forecast period due to the high deployment of low-powered beacons in most of the retail stores. Retailers have been implementing powerful multi-channel applications to engage customers and boost sales using smart devices. There is a rise in the adoption of connected devices for applications such as payments in grocery stores, banks and financial institutions, restaurants, and entertainment spaces. POS payment methods have gained importance with the adoption of M2M technology for a wide range of business processes.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free
The top three emerging trends driving the global M2M services market in the retail industry according to Technavio ICT research analysts are:
- M2M platform consolidation
- Growth in embedded telematics solutions
- Increasing use of M2M for security and surveillance
Looking for more information on this market? Request a free sample report
Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
M2M platform consolidation
"Powerful M2M platforms are available that fit onto small boards to provide many ports. These platforms are compatible with Linux, Android, and other such standardized operating systems. Furthermore, M2M platform consolidation solutions provide an intuitive management platform for all M2M solutions. Also, the solutions assist in monitoring services closely and consistently improving the integration between solutions," says Sunil Kumar Singh, a lead analyst at Technavio for research on machine to machine (M2M) and connected devices.
M2M platform consolidation solutions also accelerate the development of new M2M solutions. Kapsch (a road telematics, IT, and telecommunications company) delivers an M2M platform consolidation solution based on the Asset Management Platform (AMP). This solution is delivered on a software-as-a-service (SaaS) model, which can be deployed quickly with no upfront investment. The AMP provides a range of functions that include security management, device and connectivity management, high-performance database and analytics, and enterprise integration.
Growth in embedded telematics solutions
"The penetration of integrated telematics is increasing in Western countries due to a rise in demand for smartphones and increased regulations for safety. Premium telematics services include navigation, infotainment, and vehicle-to-vehicle communication. These services increase telematics retention and the average revenue per user," adds Sunil.
The telematics industry will be driven by two factors, which include increased demand for wireless connectivity in cars and the need to connect wirelessly to digital car services among auto manufacturers. Telematics services are growing due to an increase in the duration of free trial periods. For instance, Hyundai and BMW have extended the free trial period from 6-12 months to 3-10 years. The renewal prices of telematics services are low. Therefore, the retention of the active subscribers becomes easy.
Increasing use of M2M for security and surveillance
M2M solutions are widely used in supermarkets, hypermarkets, restaurants, hotels, and small- and medium-sized outlets for security and surveillance purposes. Most of the retailers are installing security cameras in their retail stores due to the decline in prices of M2M communication devices. The decline in installation costs and the tariff rates of network operators is also leading to an increase in the deployment of M2M security systems.
Many retailers, restaurant owners, and hotel owners are installing these systems in their establishments to track people and equipment. For instance, retail managers receive alerts on their smartphones in the event of a break-in. Managers can remotely track the activity inside their stores through the security camera feed. Also, M2M retail security solutions help store managers find alternative locations for the storage of goods.
Browse Related Reports:
- Global Commercial Telematics Market 2017-2021
- Global VoLTE Market 2017-2021
- Global Consumer, SOHO, and SMB NAS Market 2017-2021
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at email@example.com.
Media Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770