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Internet of Things (IoT) in Retail Market by Platform (Device Management and Application Enablement), Hardware, Service, Application (Smart Shelf, Asset Management, Customer Experience Management, and Geomarketing), and Region - Global Forecast to 2025

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  • 158 Pages
  • March 2020
  • Region: Global
  • Markets and Markets
  • ID: 5005626
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Description Jump to:

The analyst projects the Internet of Things (IoT) in retail market to grow from USD 14.5 billion in 2020 to USD 35.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 19.6% during the forecast period. Major factors expected to drive the growth of the IoT in retail market include rapidly declining cost of IoT-based sensors and connectivity, increasing adoption of smart payment solutions, and customer demand for a seamless shopping experience.



By offering, the hardware segment to account for the highest market share during the forecast period

Hardware is an essential component for any IoT device to work efficiently. In order to improve customer experiences and similar operations, these technologies or devices have become a necessity. Beacons broadcast radio signals using the Bluetooth Low Energy (BLE) technology. These signals are received by the customer’s smartphones and wearables. The use of these technologies enhance customer experiences by sending relevant messages as per consumer requirements.

By application, the operations management segment to hold the largest market size in 2020

The operations management segment for any retail organization is important because it refers to all the activities that maintain the optimum store functioning levels. IoT plays a crucial role in process automation and improves the operational efficiency of retail stores. Operations management in the retail industry includes energy optimization, supply chain optimization, surveillance and security, inventory optimization, and workforce management.

By region, Asia Pacific to grow at the highest CAGR during the forecast period

Asia Pacific (APAC) is estimated to be the fastest-growing region in terms of the growth of the IoT in retail market, due to the increasing adoption of new technologies, higher investments for digital transformation, and the growth in Gross Domestic Product (GDP) in the APAC countries. The region is continuously adopting technological advancements as IoT grows in popularity with both governments and companies on a global scale. The APAC is one of the biggest markets for connected devices.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the IoT in retail market.

The breakup of the profiles of the primary participants is given below:


  •  By Company Type: Tier 1-55%, Tier 2-27%, and Tier 3-18%
  •  By Designation: C-Level Executives–33%, Director Level-25%, and Managers–42%
  •  By Region: North America-38%, Europe-19%, APAC-14, and RoW-29%

The following key IoT in retail market vendors are profiled in the report:


  •  Cisco (US)
  •  IBM (US)
  •  Intel (US)
  •  Microsoft (US)
  •  PTC (US)
  •  Huawei (China)
  •  Sierra Wireless (Canada)
  •  AWS (US)
  •  SAP (Germany)
  •  Software AG (Germany)
  •  Accenture (Ireland)
  •  Bosch.IO (Germany)
  •  Google (US)
  •  NEC Corporation (Japan)
  •  Oracle (US)
  •  AT&T (US)
  •  Vodafone (UK)
  •  Happiest Minds (India)
  •  Telit (UK)
  •  Allerin (India)

Research Coverage
The IoT in retail market is segmented by offering (hardware, platforms and services), application, and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; services; key strategies; new service and product launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated with the IoT in retail market.

Reasons to Buy the Report
The report would help the market leaders and new entrants in the following ways:


  •  It comprehensively segments the IoT in retail market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different regions.
  •  It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities in the market.
  •  It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes the competitor ecosystem, new service developments, partnerships, and acquisitions.

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.2.1 Inclusions and Exclusions
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Years Considered for the Study
1.4 Currency Considered
1.5 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.2 Market Breakup and Data Triangulation
2.2.1 Key Industry Insights
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Competitive Leadership Mapping Methodology
2.6 Assumptions for the Study
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the IoT in Retail Market
4.2 Market, By Offering, 2020
4.3 Market, By Application, 2018-2025
4.4 Market, By Service, 2020 vs 2025
4.5 Market Investment Scenario
5 Market Overview and Industry Trends
5.1 Market Overview
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Customer Demand for A Seamless Shopping Experience
5.2.1.2 Rapidly Declining Cost of Iot-Based Sensors and Connectivity
5.2.1.3 Increasing Adoption of Smart Payment Solutions
5.2.2 Restraints
5.2.2.1 Security Concerns Due to Vast Data Flow
5.2.2.2 Lack of Interoperability and Common Standards
5.2.3 Opportunities
5.2.3.1 Integrated IoT Solution to Open New Revenue Streams
5.2.3.2 Increased Investment in Retail Automation Providing Wholesome Opportunities for Analytics Providers
5.2.4 Challenges
5.2.4.1 Apprehension of Retailers in Switching to New Technologies Due to High Implementation Cost
5.3 Regulatory Implications
5.3.1 ISO Standards
5.3.1.1 ISO/IEC JTC 1
5.3.1.2 ISO/IEC JTC 1/SWG 5
5.3.1.3 ISO/IEC JTC 1SC 31
5.3.1.4 ISO/IEC JTC 1/SC 27
5.3.1.5 ISO/IEC JTC 1/WG 7 Sensors
5.3.2 IEEE
5.3.3 CEN/ISO
5.3.3.1 CEN/CENELEC
5.3.4 ETSI
5.3.5 ITU-T
5.4 Use Cases
5.4.1 Use Case 1: IBM Helped Bison Schweiz AG to Use Electronic Shelf Labels in Reducing the Burden of Changing Price Tags
5.4.2 Use Case 2: Cisco Helped Domino’s Pizza Innovate Its Digital Ordering System By Providing Its Technology Infrastructure
5.4.3 Use Case 3: Amazon Web Services Helped Brooks Brothers Deploy and Operate Its SAP Environments
5.4.4 Use Case 4: Google Helped Conrad Electronic to Develop A Reliable Cloud Infrastructure
6 IoT in Retail Market, By Offering
6.1 Introduction
6.2 Hardware
6.2.1 Beacons
6.2.2 Sensors
6.2.3 Gateways
6.2.4 Radio Frequency Identification
6.3 Platforms
6.3.1 Device Management
6.3.1.1 Device Management: Market Drivers
6.3.2 Application Enablement
6.3.2.1 Application Enablement: Market Drivers
6.3.3 Connectivity Management
6.3.3.1 Connectivity Management: Market Drivers
6.4 Services
6.4.1 Professional Services
6.4.1.1 Consulting Services
6.4.1.1.1 Consulting Services: IoT in Retail Market Drivers
6.4.1.2 System Integration and Deployment Services
6.4.1.2.1 System Integration and Deployment Services: Market Drivers
6.4.1.3 Support and Maintenance Services
6.4.1.3.1 Support and Maintenance Services: Market Drivers
6.4.2 Managed Services
7 IoT in Retail, By Application
7.1 Introduction
7.2 Operations Management
7.2.1 Energy Optimization
7.2.1.1 Energy Optimization: IoT in Retail Market Drivers
7.2.2 Supply Chain Optimization
7.2.2.1 Supply Chain Optimization: Market Drivers
7.2.3 Surveillance and Security
7.2.3.1 Surveillance and Security: Market Drivers
7.2.4 Inventory Optimization
7.2.4.1 Inventory Optimization: Market Drivers
7.2.5 Workforce Management
7.2.5.1 Workforce Management: Market Drivers
7.3 Asset Management
7.3.1 Asset Condition Monitoring
7.3.1.1 Asset Condition Monitoring: Market Drivers
7.3.2 Predictive Equipment Maintenance
7.3.2.1 Predictive Equipment Maintenance: Market Drivers
7.4 Customer Experience Management
7.4.1 Smart Payment and Checkout
7.4.1.1 Smart Payment and Checkout: Market Drivers
7.4.2 Queue Management
7.4.2.1 Queue Management: Market Drivers
7.4.3 Automatic Vending Machine
7.4.3.1 Automatic Vending Machine: Market Drivers
7.4.4 Smart Shelves
7.4.4.1 Smart Shelves: Market Drivers
7.5 Advertising and Marketing
7.5.1 Geomarketing
7.5.1.1 Geomarketing: Market Drivers
7.5.2 Digital Signage
7.5.2.1 Digital Signage: Market Drivers
8 Geographic Analysis
8.1 Introduction
8.2 North America
8.2.1 United States
8.2.1.1 United States: Market Drivers
8.2.2 Canada
8.2.2.1 Canada: IoT in Retail Market Drivers
8.3 Europe
8.3.1 United Kingdom
8.3.1.1 United Kingdom: Market Drivers
8.3.2 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.1.1 China: IoT in Retail Market Drivers
8.4.2 Rest of Asia Pacific
8.5 Middle East and Africa
8.6 Latin America
9 Competitive Landscape
9.1 Introduction
9.2 Competitive Leadership Mapping
9.3 Evaluation Criteria
9.3.1 Visionary Leaders
9.3.2 Dynamic Differentiators
9.3.3 Innovators
9.3.4 Emerging Companies
10 Company Profiles
10.1 Introduction
(Business Overview, Solutions and Services Offered, Recent Developments, SWOT Analysis)*
10.2 Cisco
10.3 IBM
10.4 Intel
10.5 Microsoft
10.6 PTC
10.7 Huawei
10.8 Sierra Wireless
10.9 Amazon Web Services
10.10 SAP
10.11 Software AG
10.12 Accenture
10.13 Bosch.Io
10.14 Google
10.15 NEC Corporation
10.16 Oracle
10.17 AT&T
10.18 Vodafone
10.19 Happiest Minds
10.20 Telit
10.21 Allerin
10.22 Right-To-Win
*Details on Business Overview, Solutions and Services Offered, Recent Developments, SWOT Analysis Might Not Be Captured in Case of Unlisted Companies.
11 Appendix
11.1 Discussion Guide
11.2 Available Customization
11.3 Related Reports
11.4 Author Details
List of Tables
Table 1 United States Dollar Exchange Rate, 2016–2019
Table 2 Factor Analysis
Table 3 IoT in Retail Market Size, By Offering, 2018–2025 (USD Million)
Table 4 Hardware: Market Size, By Region, 2018–2025 (USD Million)
Table 5 Platforms: Market Size, By Type, 2018–2025 (USD Million)
Table 6 Platforms: Market Size, By Region, 2018–2025 (USD Million)
Table 7 Device Management Market Size, By Region, 2018–2025 (USD Million)
Table 8 Application Enablement Market Size, By Region, 2018–2025 (USD Million)
Table 9 Connectivity Management Market Size, By Region, 2018–2025 (USD Million)
Table 10 Services: Market Size, By Type, 2018–2025 (USD Million)
Table 11 Services: Market Size, By Region, 2018–2025 (USD Million)
Table 12 Professional Services: Market Size, By Type, 2018–2025 (USD Million)
Table 13 Professional Services: Market Size, By Region, 2018–2025 (USD Million)
Table 14 Consulting Services Market Size, By Region, 2018–2025 (USD Million)
Table 15 System Integration and Deployment Services Market Size, By Region, 2018–2025 (USD Million)
Table 16 Support and Maintenance Services Market Size, By Region, 2018–2025 (USD Million)
Table 17 Managed Services: Market Size, By Region, 2018–2025 (USD Million)
Table 18 IoT in Retail Market Size, By Application, 2018–2025 (USD Million)
Table 19 Operations Management: Market Size, By Type, 2018–2025 (USD Million)
Table 20 Operations Management: Market Size, By Region, 2018–2025 (USD Million)
Table 21 Energy Optimization Market Size, By Region, 2018–2025 (USD Million)
Table 22 Supply Chain Optimization Market Size, By Region, 2018–2025 (USD Million)
Table 23 Surveillance and Security Market Size, By Region, 2018–2025 (USD Million)
Table 24 Inventory Optimization Market Size, By Region, 2018–2025 (USD Million)
Table 25 Workforce Management Market Size, By Region, 2018–2025 (USD Million)
Table 26 Asset Management: Market Size, By Type, 2018–2025 (USD Million)
Table 27 Asset Management: Market Size, By Region, 2018–2025 (USD Million)
Table 28 Asset Condition Monitoring Market Size, By Region, 2018–2025 (USD Million)
Table 29 Predictive Equipment Maintenance Market Size, By Region, 2018–2025 (USD Million)
Table 30 Customer Experience Management: Market Size, By Type, 2018–2025 (USD Million)
Table 31 Customer Experience Management: Market Size, By Region, 2018–2025 (USD Million)
Table 32 Smart Payment and Checkout Market Size, By Region, 2018–2025 (USD Million)
Table 33 Queue Management Market Size, By Region, 2018–2025 (USD Million)
Table 34 Automatic Vending Machine Market Size, By Region, 2018–2025 (USD Million)
Table 35 Smart Shelves Market Size, By Region, 2018–2025 (USD Million)
Table 36 Advertising and Marketing: Market Size, By Type, 2018–2025 (USD Million)
Table 37 Advertising and Marketing: Market Size, By Region, 2018–2025 (USD Million)
Table 38 Geomarketing Market Size, By Region, 2018–2025 (USD Million)
Table 39 Digital Signage Market Size, By Region, 2018–2025 (USD Million)
Table 40 IoT in Retail Market Size, By Region, 2018–2025 (USD Million)
Table 41 North America: Market Size, By Offering, 2018–2025 (USD Million)
Table 42 North America: Market Size, By Platform, 2018–2025 (USD Million)
Table 43 North America: Market Size, By Service, 2018–2025 (USD Million)
Table 44 North America: Market Size, By Professional Service, 2018–2025 (USD Million)
Table 45 North America: Market Size, By Application, 2018–2025 (USD Million)
Table 46 North America: Market Size, By Operations Management, 2018–2025 (USD Million)
Table 47 North America: Market Size, By Asset Management, 2018–2025 (USD Million)
Table 48 North America: Market Size, By Customer Experience Management, 2018–2025 (USD Million)
Table 49 North America: Market Size, By Advertising and Marketing, 2018–2025 (USD Million)
Table 50 North America: Market Size, By Country, 2018–2025 (USD Million)
Table 51 United States: IoT in Retail Market Size, By Offering, 2018–2025 (USD Million)
Table 52 United States: Market Size, By Platform, 2018–2025 (USD Million)
Table 53 United States: Market Size, By Service, 2018–2025 (USD Million)
Table 54 United States: Market Size, By Professional Service, 2018–2025 (USD Million)
Table 55 United States: Market Size, By Application, 2018–2025 (USD Million)
Table 56 United States: Market Size, By Operations Management, 2018–2025 (USD Million)
Table 57 United States: Market Size, By Asset Management, 2018–2025 (USD Million)
Table 58 United States: Market Size, By Customer Experience Management, 2018–2025 (USD Million)
Table 59 United States: Market Size, By Advertising and Marketing, 2018–2025 (USD Million)
Table 60 Europe: IoT in Retail Market Size, By Offering, 2018–2025 (USD Million)
Table 61 Europe: Market Size, By Platform, 2018–2025 (USD Million)
Table 62 Europe: Market Size, By Service, 2018–2025 (USD Million)
Table 63 Europe: Market Size, By Professional Service, 2018–2025 (USD Million)
Table 64 Europe: Market Size, By Application, 2018–2025 (USD Million)
Table 65 Europe: Market Size, By Operations Management, 2018–2025 (USD Million)
Table 66 Europe: Market Size, By Asset Management, 2018–2025 (USD Million)
Table 67 Europe: Market Size, By Customer Experience Management, 2018–2025 (USD Million)
Table 68 Europe: Market Size, By Advertising and Marketing, 2018–2025 (USD Million)
Table 69 Europe: Market Size, By Country, 2018–2025 (USD Million)
Table 70 United Kingdom: IoT in Retail Market Size, By Offering, 2018–2025 (USD Million)
Table 71 United Kingdom: Market Size, By Platform, 2018–2025 (USD Million)
Table 72 United Kingdom: Market Size, By Service, 2018–2025 (USD Million)
Table 73 United Kingdom: Market Size, By Professional Service, 2018–2025 (USD Million)
Table 74 United Kingdom: Market Size, By Application, 2018–2025 (USD Million)
Table 75 United Kingdom: Market Size, By Operations Management, 2018–2025 (USD Million)
Table 76 United Kingdom: Market Size, By Asset Management, 2018–2025 (USD Million)
Table 77 United Kingdom: Market Size, By Customer Experience Management, 2018–2025 (USD Million)
Table 78 United Kingdom: Market Size, By Advertising and Marketing, 2018–2025 (USD Million)
Table 79 Asia Pacific: IoT in Retail Market Size, By Offering, 2018–2025 (USD Million)
Table 80 Asia Pacific: Market Size, By Platform, 2018–2025 (USD Million)
Table 81 Asia Pacific: Market Size, By Service, 2018–2025 (USD Million)
Table 82 Asia Pacific: Market Size, By Professional Service, 2018–2025 (USD Million)
Table 83 Asia Pacific: Market Size, By Application, 2018–2025 (USD Million)
Table 84 Asia Pacific: Market Size, By Operations Management, 2018–2025 (USD Million)
Table 85 Asia Pacific: Market Size, By Asset Management, 2018–2025 (USD Million)
Table 86 Asia Pacific: Market Size, By Customer Experience Management, 2018–2025 (USD Million)
Table 87 Asia Pacific: Market Size, By Advertising and Marketing, 2018–2025 (USD Million)
Table 88 Asia Pacific: Market Size, By Country, 2018–2025 (USD Million)
Table 89 China: IoT in Retail Market Size, By Offering, 2018–2025 (USD Million)
Table 90 China: Market Size, By Platform, 2018–2025 (USD Million)
Table 91 China: Market Size, By Service, 2018–2025 (USD Million)
Table 92 China: Market Size, By Professional Service, 2018–2025 (USD Million)
Table 93 China: Market Size, By Application, 2018–2025 (USD Million)
Table 94 China: Market Size, By Operations Management, 2018–2025 (USD Million)
Table 95 China: Market Size, By Asset Management, 2018–2025 (USD Million)
Table 96 China: Market Size, By Customer Experience Management, 2018–2025 (USD Million)
Table 97 China: Market Size, By Advertising and Marketing, 2018–2025 (USD Million)
Table 98 Middle East and Africa: IoT in Retail Market Size, By Offering, 2018–2025 (USD Million)
Table 99 Middle East and Africa: Market Size, By Platform, 2018–2025 (USD Million)
Table 100 Middle East and Africa: Market Size, By Service, 2018–2025 (USD Million)
Table 101 Middle East and Africa: Market Size, By Professional Service, 2018–2025 (USD Million)
Table 102 Middle East and Africa: Market Size, By Application, 2018–2025 (USD Million)
Table 103 Middle East and Africa: Market Size, By Operations Management, 2018–2025 (USD Million)
Table 104 Middle East and Africa: Market Size, By Asset Management, 2018–2025 (USD Million)
Table 105 Middle East and Africa: Market Size, By Customer Experience Management, 2018–2025 (USD Million)
Table 106 Middle East and Africa: Market Size, By Advertising and Marketing, 2018–2025 (USD Million)
Table 107 Latin America: IoT in Retail Market Size, By Offering, 2018–2025 (USD Million)
Table 108 Latin America: Market Size, By Platform, 2018–2025 (USD Million)
Table 109 Latin America: Market Size, By Service, 2018–2025 (USD Million)
Table 110 Latin America: Market Size, By Professional Service, 2018–2025 (USD Million)
Table 111 Latin America: Market Size, By Application, 2018–2025 (USD Million)
Table 112 Latin America: Market Size, By Operations Management, 2018–2025 (USD Million)
Table 113 Latin America: Market Size, By Asset Management, 2018–2025 (USD Million)
Table 114 Latin America: Market Size, By Customer Experience Management, 2018–2025 (USD Million)
Table 115 Latin America: IoT in Retail Market Size, By Advertising and Marketing, 2018–2025 (USD Million)
List of Figures
Figure 1 IoT in Retail Market: Research Design
Figure 2 Market Size Estimation Methodology - Approach 1 (Supply Side): Revenue of Hardware/Platforms/Services of IoT in Retail Vendors
Figure 3 Market Size Estimation Methodology - Approach 1 Bottom-Up (Supply Side): Collective Revenue of All Platforms of IoT in Retail Vendors
Figure 4 Market Size Estimation Methodology - Approach 2 Top-Down: Share of Retail Through the Overall IoT Spending
Figure 5 Competitive Leadership Mapping Matrix: Criteria Weightage
Figure 6 Market to Witness A High Growth During the Forecast Period
Figure 7 Top 3 Leading Segments in the IoT in Retail Market in 2020
Figure 8 IoT in Retail: Regional Market Scenario
Figure 9 Declining Cost of Hardware Components to Drive the IoT in Retail Market Growth
Figure 10 Hardware Segment to Hold the Highest Market Share in 2020
Figure 11 Operations Management Application to Lead the Market During the Forecast Period
Figure 12 Professional Services Segment to Hold A Higher Market Share During the Forecast Period
Figure 13 Asia Pacific to Be the Best Market for Investment During the Forecast Period
Figure 14 Drivers, Restraints, Opportunities, and Challenges: Market
Figure 15 Declining Price of Sensors in the Past 15 Years
Figure 16 Services Segment to Grow at the Highest CAGR During the Forecast Period
Figure 17 Application Enablement Platform to Grow at the Highest CAGR During the Forecast Period
Figure 18 Managed Services Segment to Grow at A Higher CAGR During the Forecast Period
Figure 19 Support and Maintenance Services Segment to Grow at the Highest CAGR During the Forecast Period
Figure 20 Customer Experience Management Segment to Grow at the Highest CAGR During the Forecast Period
Figure 21 Surveillance and Security Segment to Grow the Highest CAGR During the Forecast Period
Figure 22 Predictive Equipment Maintenance Segment to Grow at A Higher CAGR During the Forecast Period
Figure 23 Smart Shelves Segment to Grow at the Highest CAGR During the Forecast Period
Figure 24 Geomarketing to Grow at A Higher CAGR During the Forecast Period
Figure 25 Asia Pacific to Grow at the Highest CAGR During the Forecast Period
Figure 26 Asia Pacific to Grow at the Fastest Growth Rate During the Forecast Period
Figure 27 Europe: Market Snapshot
Figure 28 Asia Pacific: Market Snapshot
Figure 29 IoT in Retail Market (Global) Competitive Leadership Mapping, 2020
Figure 30 Cisco: Company Snapshot
Figure 31 Cisco: SWOT Analysis
Figure 32 IBM: Company Snapshot
Figure 33 IBM: SWOT Analysis
Figure 34 Intel: Company Snapshot
Figure 35 Intel: SWOT Analysis
Figure 36 Microsoft: Company Snapshot
Figure 37 Microsoft: SWOT Analysis
Figure 38 PTC: Company Snapshot
Figure 39 PTC: SWOT Analysis
Figure 40 Huawei: Company Snapshot
Figure 41 Sierra Wireless: Company Snapshot
Figure 42 SAP: Company Snapshot
Figure 43 Software AG: Company Snapshot

Companies Mentioned

  • AT&T
  • Accenture
  • Allerin
  • Amazon Web Services
  • Bosch.Io
  • Cisco
  • Google
  • Happiest Minds
  • Huawei
  • IBM
  • Intel
  • Microsoft
  • NEC Corporation
  • Oracle
  • PTC
  • Right-To-Win
  • SAP
  • Sierra Wireless
  • Software AG
  • Telit
  • Vodafone

Table Information

Report AttributeDetails
No. of Pages158
PublishedMarch 2020
Forecast Period2020 - 2025
Estimated Market Value ( USD ) in 2020 $ 14.5 billion
Forecasted Market Value ( USD ) by 2025 $ 35.5 billion
Compound Annual Growth Rate19.6%
Regions CoveredGlobal
No. of Companies Mentioned21

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