Express Computer
Home  »  IoT  »  Retail IoT spend to grow at 19 per cent in MEA

Retail IoT spend to grow at 19 per cent in MEA

0 452

Spending on Internet of Things solutions among retailers in the Middle East and Africa will grow by an average of around 19 per cent annually in future, representing nearly USD 1.6 billion in expenditure from 2014 to 2018, a study has said.

According to the International Data Corporation (IDC) study which looked at four key markets of South Africa, Saudi Arabia, Turkey and the UAE, overall Internet of Things (IoT) spending is soaring by an average of around 17 per cent per year.

“All those digital signs popping up in shopping centres and airports in the Middle East and Africa (MEA) region are the most visible element of a market that is taking off,” the study said.

“Despite the visibility of the signs, the great majority of IOT projects will relate to in-store promotions and personalised promotions, as well as ad hoc improvements to supply chains, in-store inventory systems and transportation or delivery systems,” it said.

Retailers are also seeking online and mobile sales channels and customer relationship initiatives, all steps on the path towards the creation of true omni-channel shopping, the study noted.

For all four markets, international brands will be the driving force, the study said, adding that while high-end brands are already spreading throughout shopping centres and airports in the region, the markets remain underserved.

The great majority of retail sales in MEA still happen in small, independent shops and in Sub-Saharan Africa, this proportion can be up to 90 per cent, it said.

Despite IoT’s uptake in retail both regionally and globally, the term is not widely used in the region’s retail sector, it added.

The IoT is a scenario in which objects, animals or people are provided with unique identifiers and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

LIVE Webinar

Digitize your HR practice with extensions to success factors

Join us for a virtual meeting on how organizations can use these extensions to not just provide a better experience to its’ employees, but also to significantly improve the efficiency of the HR processes
REGISTER NOW 

Stay updated with News, Trending Stories & Conferences with Express Computer
Follow us on Linkedin
India's Leading e-Governance Summit is here!!! Attend and Know more.
Register Now!
close-image
Attend Webinar & Enhance Your Organisation's Digital Experience.
Register Now
close-image
Enable A Truly Seamless & Secure Workplace.
Register Now
close-image
Attend Inida's Largest BFSI Technology Conclave!
Register Now
close-image
Know how to protect your company in digital era.
Register Now
close-image
Protect Your Critical Assets From Well-Organized Hackers
Register Now
close-image
Find Solutions to Maintain Productivity
Register Now
close-image
Live Webinar : Improve customer experience with Voice Bots
Register Now
close-image
Live Event: Technology Day- Kerala, E- Governance Champions Awards
Register Now
close-image
Virtual Conference : Learn to Automate complex Business Processes
Register Now
close-image