Retail IoT Applications - 7th Edition

The retail industry is an important vertical for cellular IoT connectivity with 147.9 million cellular connections today and a total addressable market size of over 372 million POS terminals, ATMs, vending machines, parking meters, digital signs and fare collection devices worldwide. The report forecasts that the number of cellular IoT connections in the retail industry will grow at a compound annual growth rate (CAGR) of 10.0 percent to reach 217.7 million connections worldwide in 2028.

Shipments of cellular IoT devices will at the same time increase at a CAGR of 6.2 percent from 57.9 million units in 2023 to 78.2 million units in 2028. Cellular IoT technology enables devices such as POS terminals and ATMs to be used at new locations where fixed line connectivity is unavailable or impractical. The technology has a more transformational effect on markets such as vending and parking, where machine operators need to reorganise their operations in order to benefit from the availability of real-time information.

Cellular IoT connections in the retail industry reached 147.9 million in 2023

The installed base of connected vending machines in North America reached 2.3 million units at the end of 2023, whereas the corresponding figure for EU27+3 was 1.8 million units. The North American market has reached a state of maturity with a penetration rate of over 71.2 percent. Europe is meanwhile still in an early stage with a penetration rate of around 42.5 percent.

However, vending is also one of the fastest-growing segments for connectivity solutions in the retail industry, driven by demand for cashless payment and vending telemetry solutions. The North American market is projected to grow at a CAGR of 4.4 percent between 2023 and 2028, reaching 2.8 million connected vending machines at the end of the period. Similarly, the European market is forecasted to grow at a CAGR of 10.9 percent to reach 3.0 million connections by 2028.

The parking industry has been one of the earliest adopters of IoT communications technology. Today, approximately 67 percent of the world’s 652,000 multi-space meters are connected primarily to cellular networks. This penetration rate will continue to increase steadily throughout the foreseeable future, as nearly all new multi-space meter deployments have connectivity as a requirement.

In contrast, connectivity has only recently become an optional feature in single space meters and today only 16 percent of the single-space meters in the world are connected. However, connected single-space meters have recently had a breakthrough in the North American market, where mixed deployments that comprise both single-space and multi-space meters are becoming increasingly common.

The share of single-space meters that incorporate connectivity is now growing rapidly and expected to reach 32 percent by 2028. Cellular connectivity has become a very popular option for POS terminals and was incorporated in 52 percent of the devices shipped in 2023. Wireless technology has an important role in facilitating the global adoption of electronic payments, as it enables the rollout of POS terminals to many new market segments as well as regions where the fixed line telecommunications infrastructure is less developed.

The report forecasts that the installed base of cellular POS terminals will grow at a CAGR of 7.8 percent between 2023 and 2028 to reach 200.3 million units at the end of the period, driven especially by growth in emerging markets. Digital signage solutions have found their way into nearly every possible vertical market and a wide variety of application areas.

The untapped market potential is nevertheless still vast and growth is showing no signs of slowing down. The report forecasts that global shipments of display screens for digital signage will grow from 21.2 million units in 2023 at a CAGR of 11.6 percent to reach 36.6 million units by 2028.

Cellular connectivity is very useful for applications such as temporary signs and in locations where access to fixed line communications is not available or costly to obtain. However, cellular is expected to remain a niche connectivity technology due to the higher costs associated with the technology, especially in bandwidth intensive applications.

Cellular connectivity is incorporated in close to 0.3 million fare collection devices worldwide today, such as on-board ticket vending machines, stationary vending machines and handheld ticket sales terminals. The report anticipates that the market potential for cellular connectivity in public transport will expand as account-based fare collection systems gain ground and increase the need for real-time communications. However, the number of fare-collection devices incorporating cellular connectivity is likely to remain relatively modest, as many fare collection devices can share a communications line with other equipment.

Highlights from the report

Insights from 50 new executive interviews with market leading companies.
Overview of the payment, vending, digital signage, parking, transport ticketing and ATM industries.
Summary of industry trends and developments in each vertical market segment.
Updated in-depth profiles of 176 key players in the retail industry.
Reviews of vendor market shares and competitive dynamics.
Perspectives on the impact of emerging mobile payment services.
Extensive global and regional market forecasts lasting until 2028.

The report answers the following questions

What is the potential market size for wireless IoT communication in the retail industry?
Which are the key applications that offer sizable business opportunities?
Which are the leading providers of vending telemetry solutions?
Which are the leading providers of connected parking meters?
Which are the leading digital signage display, CMS and media player vendors?
How is the market for wireless ATM connectivity solutions developing?
What is the attach rate for cellular connectivity in POS terminals by region?
How is the market for public transport fare collection systems evolving?

Who should read this report?

Retail IoT Applications is the foremost source of information about the adoption of wireless IoT solutions in the retail industry. Whether you are a device vendor, service provider, telecom operator, investor, consultant, or government agency, you will gain valuable insights from our in-depth research.

Executive Summary

1 POS Terminals and ATMs

1.1 The card payments industry
1.2 Payment infrastructure
1.2.1 Overview of the POS terminal market
1.2.2 POS terminal form factors
1.2.3 Overview of the ATM market
1.2.4 ATM form factors
1.3 Evolution of electronic payments
1.3.1 EMV migration
1.3.2 Adoption of wireless IoT communications
1.3.3 Rollout of NFC-ready terminals
1.4 POS terminal vendors
1.4.1 Anfu
1.4.2 BBPOS
1.4.3 Bitel
1.4.4 Castles Technology
1.4.5 Centerm
1.4.6 Dspread Technology
1.4.7 Equinox Payments
1.4.8 Fiserv
1.4.9 ID Tech
1.4.10 Ingenico
1.4.11 Itron Electronics
1.4.12 JTact
1.4.13 Landi
1.4.14 MoreFun
1.4.15 Newland Payment Technology
1.4.16 New POS
1.4.17 Nexgo (Xinguodu)
1.4.18 PAX Technology
1.4.19 Sunmi
1.4.20 SZZT Electronics
1.4.21 TopWise
1.4.22 UIC Payworld
1.4.23 Vanstone Electronic
1.4.24 Verifone
1.5 ATM manufacturers and connectivity solution providers .
1.5.1 Contour Networks (JCI US)
1.5.2 Diebold Nixdorf
1.5.3 Digi International
1.5.4 DPL Group
1.5.5 Hyosung Innovue
1.5.6 NCR Atleos
1.5.7 OptConnect
1.5.8 Triton Systems

2 Vending Machines

2.1 Overview of the vending machine industry
2.2 Vending industry players
2.2.1 Vending technology providers
2.2.2 Vending machine manufacturers
2.2.3 Product suppliers
2.2.4 Vending operators
2.3 Payment systems
2.3.1 Coin mechanisms and bill validators
2.3.2 Cashless payments
2.3.3 Mobile phone payments and NFC
2.3.4 Biometric payments
2.4 Vending telemetry and software
2.4.1 Remote monitoring of vending machines
2.4.2 Vending management systems
2.5 Connected vending machines
2.5.1 Europe
2.5.2 North America
2.5.3 Rest of World
2.6 Vending telemetry and cashless payment solution providers
2.6.1 aiKATE (VendLOG)
2.6.2 Boost inc
2.6.3 Cantaloupe
2.6.4 CCV
2.6.5 Enginko
2.6.6 Ingenico
2.6.7 InHand Networks
2.6.8 MatiPay
2.6.9 Mecsel
2.6.10 N-and Group (IVS Group)
2.6.11 Nayax
2.6.12 Parlevel Systems (365 Retail Markets)
2.6.13 PayRange
2.6.14 Payter
2.6.15 ProstoPay
2.6.16 Silkron
2.6.17 SmartNow
2.6.18 SmVend
2.6.19 Telemetron
2.6.20 Televend (INTIS)
2.6.21 UPPay
2.6.22 Vendon
2.6.23 Vendotek
2.6.24 Vendwatch Telematics
2.6.25 Vianet Group
2.7 Vending machine manufacturers
2.7.1 Automated Merchandising Systems
2.7.2 Azkoyen Group
2.7.3 Bianchi Vending
2.7.4 Crane Payment Innovations (Crane NXT)
2.7.5 EVOCA Group
2.7.6 FAS International
2.7.7 Fastcorp Vending
2.7.8 Fuji Electric
2.7.9 Jofemar
2.7.10 Kimma
2.7.11 LE Vending
2.7.12 Magex
2.7.13 Micron Smart Vending
2.7.14 Rheavendors Group
2.7.15 Royal Vendors
2.7.16 SandenVendo
2.7.17 Seaga
2.7.18 Sielaff
2.7.19 TCN Group
2.7.20 Unicum
2.7.21 Westomatic
2.7.22 Wittern Group
2.7.23 XY Vending
2.8 Vending operators
2.8.1 Aramark
2.8.2 Asahi Group
2.8.3 Canteen
2.8.4 Chi Forest
2.8.5 Coca-Cola Bottlers Japan
2.8.6 Coca-Cola Europacific Partners
2.8.7 DyDo Group
2.8.8 Fenge Shishi (SF Express)
2.8.9 Ito En
2.8.10 IVS Group
2.8.11 Kirin
2.8.12 Nongfu Spring
2.8.13 Selecta
2.8.14 Sodexo
2.8.15 Suntory Group
2.8.16 UBOX
2.8.17 Want Want Group

3 Parking Meters

3.1 The parking industry
3.1.1 Parking industry players
3.1.2 Single-space and multi-space meters in Europe and North America
3.1.3 Pay-by-phone parking
3.2 Connected parking meters
3.2.1 Mobile data communications solutions for parking meters
3.2.2 Connected multi-space parking meters by vendor.
3.2.3 Connected single-space parking meters
3.3 Parking solution vendor profiles
3.3.1 Blinkay
3.3.2 CAME Parkare Group
3.3.3 CivicSmart
3.3.4 Digitalparking
3.3.5 Ditech
3.3.6 Duncan Solutions
3.3.7 Flowbird Group
3.3.8 Hectronic
3.3.9 IEM
3.3.10 IPS Group
3.3.11 LocoMobi
3.3.12 MacKay Meters
3.3.13 METRIC
3.3.14 Meypar
3.3.15 POM
3.3.16 T2 Systems
3.3.17 VenTek International
3.4 Private parking operators

4 Public Transport Ticketing

4.1 Modal split of passenger transport
4.2 Bus and rail fleets
4.3 Fare collection systems
4.3.1 Fare payment
4.3.2 Fare collection devices
4.3.3 Installed base
4.3.4 Mobile data communications solutions
4.4 Fare collection system vendors
4.4.1 Bytemark (Siemens Mobility)
4.4.2 Conduent
4.4.3 Cubic Transportation Systems
4.4.4 FARA (Modaxo)
4.4.5 Flowbird Group
4.4.6 Hitachi Rail (Thales GTS)
4.4.7 Indra
4.4.8 INIT
4.4.9 IVU Traffic Technologies
4.4.10 Masabi
4.4.11 Ridango
4.4.12 Scheidt & Bachmann
4.4.13 Ticketer
4.4.14 Trapeze Group (Modaxo)
4.4.15 Tri Star Group
4.4.16 Vix Technology

5 Digital Signage

5.1 Overview of the digital signage industry
5.2 The digital signage value chain
5.2.1 Display screen vendors
5.2.2 Media player vendors
5.2.3 Content management system providers
5.2.4 Installers, system integrator and network operators ..
5.3 Application areas
5.3.1 Retail
5.3.2 Office and enterprise
5.3.3 Healthcare
5.3.4 Transportation
5.3.5 Education
5.3.6 Foodservice
5.3.7 Manufacturing and logistics
5.3.8 Outdoor signage
5.4 Evolution of the digital signage industry
5.4.1 From non-connected to connected digital signs .
5.4.2 Media player form factors
5.4.3 Display technologies
5.5 Media player vendors
5.5.1 Advantech
5.5.2 AOPEN
5.5.3 Arrow Electronics
5.5.4 BrightSign
5.5.5 Giada
5.5.6 IAdea
5.5.7 IBASE
5.5.8 Rikomagic
5.5.9 Shuttle
5.6 Display screen vendors
5.6.1 DynaScan Technology
5.6.2 Elo Touch Solutions
5.6.3 Goodview (CVTE Group)
5.6.4 Hisense Group
5.6.5 iiyama
5.6.6 Leyard and Planar
5.6.7 LG Electronics
5.6.8 Panasonic
5.6.9 PPDS (Philips)
5.6.10 ProDVX
5.6.11 Samsung Electronics
5.6.12 Sharp NEC Display Solutions
5.6.13 Sony
5.6.14 Vestel Group
5.7 Content management system providers
5.7.1 Appspace
5.7.2 Broadsign International
5.7.3 Creative Realities
5.7.4 Deneva (ICON Multimedia)
5.7.5 Dise (Vertiseit)
5.7.6 easescreen
5.7.7 Grassfish (Vertiseit)
5.7.8 Intuiface
5.7.9 Korbyt
5.7.10 Mood Media
5.7.11 Mvix
5.7.12 Navori Labs
5.7.13 PADS4 (NDS)
5.7.14 Poppulo
5.7.15 Rise Vision (AUO Display Plus)
5.7.16 Scala (STRATACACHE)
5.7.17 Signagelive
5.7.18 Spectrio
5.7.19 STRATACACHE
5.7.20 Telelogos
5.7.21 Uniguest
5.7.22 Visual Art
5.7.23 ZetaDisplay

6 Forecasts and Conclusions

6.1 Wireless IoT in the retail industry
6.1.1 Cellular IoT device shipments
6.1.2 Cellular IoT network connections
6.2 Market trends and drivers
6.2.1 Uptake of wireless IoT in POS terminals is steady while NFC is ubiquitous..
6.2.2 ATMs in offsite locations benefit from cellular connectivity.
6.2.3 The case for vending telemetry and business intelligence improves
6.2.4 The parking meter industry continues to lead the adoption of wireless IoT ..
6.2.5 ABT-systems catalyse demand for cellular connectivity in public transport..
6.2.6 The digital signage market expands
6.3 Market forecasts
6.3.1 POS terminals
6.3.2 ATMs
6.3.3 Vending machines
6.3.4 Parking meters
6.3.5 Public transport ticketing
6.3.6 Digital Signage

List of Acronyms and Abbreviations

List of Figures

Figure 1.1: Installed base of POS terminals and ATMs (World 2018-2022).
Figure 1.2: POS terminal density by country (World 2022)
Figure 1.3: Stationary and mobile POS terminals
Figure 1.4: mPOS devices
Figure 1.5: Android POS terminals
Figure 1.6: ATM density by country (World 2022)
Figure 1.7: Free-standing and through-the-wall ATMs
Figure 1.8: EMV implementation status (World 2022)
Figure 1.9: POS terminals with cellular connectivity by region (World 2022)
Figure 1.10: NFC-ready POS terminals by region (World 2022) .
Figure 1.11: POS terminal shipments by manufacturer (World 2022)..
Figure 1.12: PAX Technology POS terminals
Figure 1.13: Verifone POS terminals
Figure 2.1: Vending machine density by region (World 2023) .
Figure 2.2: Installed base of vending machines by country (EU27+3 2023)
Figure 2.3: Examples of vending machines
Figure 2.4: Examples of product suppliers and brands
Figure 2.5: Bill validator and coin mechanism examples
Figure 2.6: Examples of cashless payment devices for open and closed systems ..
Figure 2.7: G-11 Cashless device from Cantaloupe supporting NFC mobile payments
Figure 2.8: Examples of VMS vendors
Figure 2.9: Installed base of connected vending machines by vendor (World Q4-2023)..
Figure 2.10: Installed base of connected vending machines by vendor (Europe 2023).
Figure 2.11: Installed base of connected vending machines by vendor (N. America 2023).
Figure 2.12: Cantaloupe’s Engage Series
Figure 2.13: Schematic overview of Cantaloupe’s platform
Figure 2.14: Ingenico’s Self/3000
Figure 2.15: Nayax’ VPOS Touch and VPOS Fusion
Figure 2.16: Televend system overview
Figure 2.17: Overview of Vendon’s IoT solution
Figure 2.18: Product portfolios of vending machine manufacturers (2023)..
Figure 2.19: Crane Cora telemetry device and AlioNote all-in-one card reader..
Figure 3.1: Examples of connected single-space and multi-space meters.
Figure 3.2: Share of connected multi-space parking meters by vendor (World 2023) .
Figure 3.3: Share of connected single-space parking meters by vendor (World 2023)
Figure 3.4: Parking meter offerings by vendor
Figure 3.5: CivicSmart Liberty NG single-space parking meter.
Figure 3.6: Flowbird Strada S5 multi-space parking meter
Figure 3.7: IPS Groups’ M5 and MS3 parking meters
Figure 3.8: LocoMobi’s Mojo multi-space parking meter
Figure 3.9: T2 Luke parking meters
Figure 3.10: Selected European and North American parking operators
Figure 4.1: Modal split of passenger transport on land (EU25+EFTA+UK and NA 2021).
Figure 4.2: Bus and rail fleets in public transport (EU25+EFTA+UK and NA 2021) .
Figure 4.3: Fare Payment Technologies
Figure 4.4: Fare collection device segments
Figure 4.5: Installed base of contactless fare collection devices (EU and NA 2023) .
Figure 4.6: Flowbird’s driver console Wayfarer 6 and ticket vending machine Astreo .
Figure 4.7: Ticketer Electronic Ticket Machines and Ticketer Handheld .
Figure 4.8: Krauth Technology’s on-board computer kt0101.
Figure 5.1: Digital signage value chain
Figure 5.2: Examples of display form factors
Figure 5.3: Examples of DOOH network operators
Figure 5.4: Examples of digital signs in retail stores
Figure 5.5: Examples of digital signs in an office building
Figure 5.6: Information displays for transportation
Figure 5.7: Digital menu boards
Figure 5.8: Information display for logistics and manufacturing
Figure 5.9: Local and remote management of digital signage networks .
Figure 5.10: Media player form factors
Figure 5.11: Comparison of display technologies
Figure 5.12: Chromebox Mini 2 and ACE Mini (DE3650 S) by AOPEN.
Figure 5.13: BrightSign’s Series 5 lines of digital signage media players
Figure 5.14: Overview of WP600 media player & webOS 6.0 Smart Signage Platform
Figure 5.15: Samsung SmartThings PRO dashboard
Figure 6.1: Cellular IoT connections in the retail industry (World 2023)
Figure 6.2: Cellular IoT retail device shipments by region (World 2023-2028).
Figure 6.3: Cellular IoT retail device connections by region (World 2023-2028).
Figure 6.4: Cellular POS terminal shipments by region (World 2023-2028)..
Figure 6.5: Cellular POS terminal installed base by region (World 2023-2028) ..
Figure 6.6: Installed base of wirelessly connected ATMs (EU and NA 2023-2028)
Figure 6.7: Installed base of connected vending machines (World 2023-2028) .
Figure 6.8: Connected vending machine market forecast (North America 2023-2028) ..
Figure 6.9: Connected vending machine market forecast (Europe 2023-2028)..
Figure 6.10: Connected vending machine market forecast (Rest of World 2023-2028)..
Figure 6.11: Multi-space parking meter market forecast (World 2023-2028)
Figure 6.12: Single-space parking meter market forecast (World 2023-2028).
Figure 6.13: Installed base of contactless fare collection devices (EU and NA 2023-2028) .
Figure 6.14: Digital signage display market forecast (World 2023-2028)
Figure 6.15: Digital signage connectivity technologies (World 2023-2028)

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

aiKATE (VendLOG)
Boost inc
Cantaloupe
CCV
Enginko
Ingenico
InHand Networks
MatiPay
Mecsel
N-and Group (IVS Group)
Nayax
Parlevel Systems (365 Retail Markets)
PayRange
Payter
ProstoPay
Silkron
SmartNow
SmVend
Telemetron
Televend (INTIS)
UPPay
Vendon
Vendotek
Vendwatch Telematics
Vianet Group
Automated Merchandising Systems
Azkoyen Group
Bianchi Vending
Crane Payment Innovations (Crane NXT)
EVOCA Group
FAS International
Fastcorp Vending
Fuji Electric
Jofemar
Kimma
LE Vending
Magex
Micron Smart Vending
Rheavendors Group
Royal Vendors
SandenVendo
Seaga
Sielaff
TCN Group
Unicum
Westomatic
Wittern Group
XY Vending
Vending operators 2.8.1 Aramark
Asahi Group
Canteen
Chi Forest
Coca-Cola Bottlers Japan
Coca-Cola Europacific Partners
DyDo Group
Fenge Shishi (SF Express)
Ito En
IVS Group
Kirin
Nongfu Spring
Selecta
Sodexo
Suntory Group
UBOX
Want Want Group
Blinkay
CAME Parkare Group
CivicSmart
Digitalparking
Ditech
Duncan Solutions
Flowbird Group
Hectronic
IEM
IPS Group
LocoMobi
MacKay Meters
METRIC
Meypar
POM
T2 Systems
VenTek International
Bytemark (Siemens Mobility)
Conduent
Cubic Transportation Systems
FARA (Modaxo)
Flowbird Group
Hitachi Rail (Thales GTS)
Indra
INIT
IVU Traffic Technologies
Masabi 165
Ridango
Scheidt & Bachmann
Ticketer
Trapeze Group (Modaxo)
Tri Star Group
Vix Technology

Methodology

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Cellular IoT connections in the retail industry reached 147.9 million in 2023

Highlights from the report

The report answers the following questions

Who should read this report?

Table of Contents

Companies Mentioned (Partial List)

Methodology

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