View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Hardware
October 8, 2013

ICT spending in European retail sector to reach €75bn by 2017

Expected to experience second highest growth rate in all vertical markets.

By CBR Staff Writer

ICT retail spending in Europe is expected to increase at a compound average growth rate of 5% reaching €75bn by 2017, according to a report from Frost & Sullivan.

The region is expected to experience the second highest growth rate of all vertical markets, driven by the wholesale and distribution sector.

The sector spent about €59bn on ICT products and services across Europe in 2012.

Frost & Sullivan ICT research analyst Shuba Ramkumar said that implementation of M2M technologies, on wireless or wired networks promotes remote management of workloads, therebye reducing time spent on regular operational work.

"Furthermore, M2M connectivity allows data collection on various parameters which can be analysed to provide better insight into the market, and in particular customer behavior," Ramkumar added.

"One of the biggest areas for growth in M2M for retail is the associated use of data analytics to understand shopping habits of customers. Consumer data analytics may be done using data sets from different sources, to help retailers either increase sales or optimise operating expenses.

"The retail industry currently uses M2M connectivity in several vital areas to overcome operational challenges such as inventory management, in-store management and remote monitoring of mobile stores.

Content from our partners
Scan and deliver
GenAI cybersecurity: "A super-human analyst, with a brain the size of a planet."
Cloud, AI, and cyber security – highlights from DTX Manchester

"With advancements in technology, development of common standards and cost reductions, retail shops will grow from using M2M connectivity for basic requirements to deriving value-added benefits from its use (for example, data analytics, personalised marketing and in-shop services facilitating customer shopping experience)."

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU