About M2M Services Market in the Retail Industry
M2M communication plays a vital role in numerous business activities such as warehouse management, logistics, fleet management, supply chain management, parking control, security and surveillance, and inventory tracking. Wireless service providers have service revenue opportunity in the M2M space to provide connectivity to endpoints. In addition, mobile operators can generate more revenue by offering marketing and distribution services and support. Retail M2M includes specialized connected solutions or devices that are used for service vending, reporting, transaction processing, authentication, and authorization. The devices that are deployed in the M2M retail space are POS terminals, vending machines, kiosks, ATMs, connected coffee brewers, laundry machines, and other self-service appliances. The use of digital signage is increasing in the retail segment. The deployment of high-speed 4G long-term evolution (LTE) networks will facilitate the efficient and economical transfer of large amounts of data and help boost the adoption of digital signage solutions.
Technavio’s analysts forecast the global M2M services market in the retail industry to grow at a CAGR of 33.61% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global M2M services market in the retail industry for 2016-2020.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global M2M Services Market in the Retail Industry 2016-2020
Technavio recognizes the following companies as the key players in the Global M2M Services Market in the Retail Industry: AT&T, Deutsche Telekom, Rogers Communications, Verizon Communications, and Vodafone.
Other Prominent Vendors in the market are: Cantaloupe Systems, Carriots, CCV, Coinco, cStar Technologies, CyberNet, e2Solutions, FARA, FAS International, Happiest Minds, Indra, INIT, Jofemar, JT Wholesale, M2M Connectivity, Margento, MEI, Metric Group, Microtronic, MobiquiThings, N&W Global Vending, Nayax, Orange Business Services, ParkMe, Podsystem, POM, POSUnlimited, Robustel, Royal Vendors, Siemens, Singtel, Smarcom, USA Technologies, VendScreen, Vianet, Vix, Wittern Group, and Zazoo.
Commenting on the report, an analyst from Technavio’s team said: “Retailers worldwide have started using M2M-based digital signage to provide essential information on product launches, the latest additions to product lines, and discounts. M2M-based digital signage sends targeted advertisements to potential or existing customers based on their profile. It is also used to display video messages at the point of sale. M2M-based digital signage delivers information on a real-time basis. It provides better features than the traditional print-based displays. It helps retailers save time and money and enhance customer outreach.”
According to the report, retail is a highly competitive industry. Therefore, it is vital to provide the best customer experience in a cost-effective manner. Wirelessly connected solutions such as POS systems, vending machines, RFID systems, and kiosks help improve customers' shopping experience by reducing costs, automating manual processes, and expanding product portfolios into new markets. POS allows enterprise staff to provide a better customer experience by enabling flexible payment process and enhancing queue management.
Further, the report states that the M2M ecosystem consists of a vast number of players. Standardization of devices from different manufacturers is essential to avoid interoperability issues where multiple devices are connected. The M2M value chain consists of producers, connectivity providers, application service providers, service providers, and sellers. All the entities in this value chain follow their own standards and protocols, which leads to incompatibility among devices produced by different device manufacturers.
AT&T, Deutsche Telekom, Rogers Communications, Verizon Communications, Vodafone, Cantaloupe Systems, Carriots, CCV, Coinco, cStar Technologies, CyberNet, e2Solutions, FARA, FAS International, Happiest Minds, Indra, INIT, Jofemar, JT Wholesale, M2M Connectivity, Margento, MEI, Metric Group, Microtronic, MobiquiThings, N&W Global Vending, Nayax, Orange Business Services, ParkMe, Podsystem, POM, POSUnlimited, Robustel, Royal Vendors, Siemens, Singtel, Smarcom, USA Technologies, VendScreen, Vianet, Vix, Wittern Group, Zazoo.