M2M retail sector analysed in latest industry research
A report from Research and Markets has assessed the retail sector for machine to machine (M2M) communications and argues the market for wirelessly connected point of sale (POS) and multi-space parking meters are among the most advanced aspects in the space.
According to Berg Insight, the number of cellular M2M connections in the retail industry will rise to 44.3 million by 2019, up from 23.1 million in 2014 at a compound annual growth rate (CAGR) of 13.9%.
Wireless M2M communication technology is witnessing robust adoption in the retail sector in the spheres of POS terminals and on-street parking solutions.
The multi-space parking meter segment boasts the highest amount of penetration, at over 50%, and it was among the first vertical markets to adopt cellular M2M connectivity. The single-space parking meters market is among the segments that is growing at the most rapid pace on account of increased adoption in recent years.
Meanwhile, the wirelessly connected POS terminals market is comparatively more mature than others and most of the market growth is on account of growing adoption of electronic payments in emerging markets.
The report delves into the potential market size for wireless M2M communication in the retail industry, important applications that provide adequate business potential and trends and developments impacting each vertical market segment.
It also covers the foremost players of vending telemetry solutions, insight into how the market for wireless ATM connectivity solutions is growing, the foremost players offering connected parking meters, the number of connected digital signs across the globe while providing a region-wise breakdown of the attach rate for cellular connectivity in POS terminals, and insight into the development of the market for public transport fare collection systems.
You can find out more about it here.