|By Business Wire||
|May 23, 2014 06:34 AM EDT||
Research and Markets (http://www.researchandmarkets.com/research/z3v5jj/global_m2m) has announced the addition of the "Global M2M Services Market in the Retail Industry 2014-2018 with AT&T., Rogers Communication, Verizon Communications & Vodafone Group Dominating" report to their offering.
The Global M2M market in the Retail industry to grow at a CAGR of 34% to 2018
One of the main drivers in this market is the increasing usage of electronic payment devices. Electronic payment devices are very customer-friendly in that customers do not have to carry cash everywhere. Instead, they can use their debit or credit cards to pay for any retail products or services anywhere and at any point of time. This also helps the retail product or service providers to avoid handling cumbersome cash. Further, it helps the customers to reduce their shopping time and the retailer to reduce its billing time per customer. Another key driver is the enhancement of customer satisfaction through the provision of convenient services.
One of the major trends is the increasing usage of M2M solutions for retail store security. The installation and usage of M2M solutions for retail store security is an emerging trend in the Global M2M market in the Retail industry. Many small and medium-sized retailers, restaurant owners, and hotels are installing M2M retail security systems to track people and equipment inside their retail premises. The combination of trends and drivers is expected to propel the growth of the Global M2M market in the Retail industry during the forecast period.
Further, the report states that one of the major challenges in this market is the difficulty in integrating M2M devices. Integrating M2M devices with cellular M2M technology is one of the major challenges faced by M2M vendors. This is mainly because such integration requires the redesigning of devices. For example, for a wireless M2M integrated solution, TCP/IP stack and application software is required in a remote device. Other key challenges for the market vendors are poor network coverage and safety and data privacy concerns.
Key vendors dominating this space are
- AT&T Inc.
- Rogers Communication Inc.
- Verizon Communications Inc.
- Vodafone Group plc.
For more information visit http://www.researchandmarkets.com/research/z3v5jj/global_m2m
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