Global IoT in Retail Market Analysis 2025-2030: Growth Drivers, Challenges, And Opportunities

The IoT in Retail Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the IoT in Retail Market?
The scale of the IoT in retail market has witnessed a speedy expansion in the past few years. Its projected growth from $39.52 billion in 2024 to $46.77 billion in 2025, suggests a compound annual growth rate (CAGR) of 18.3%. Factors such as data-guided decision making, progression in customer engagement, inventory fine-tuning, improved in-store experience, and ramped up security and loss prevention strategies can be attributed to this growth in the specified duration.

Anticipated to witness a significant expansion in the coming years, the IoT in retail market is predicted to escalate to $93.77 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 19.0%. This substantial growth during the projected timeline can be credited to factors such as the integration of data analytics and AI, the utilisation of edge computing, the increased consumer usage of IoT devices, the development of omnichannel retailing, and the implementation of cybersecurity and data privacy measures. The period is expected to witness major trends such as elevated supply chain visibility and transparency, intelligent shelves and product monitoring, heightened security and loss prevention systems, in-store analytics and footfall tracking, and contactless payment and checkout systems.

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What Are the Emerging Segments Within the IoT in Retail Market?
The IoT in retail market covered in this report is segmented -

1) By Offering: Solution, Service
2) By Type: Beacons, RFID Tags, Sensors, Wearables, Other Types
3) By Technology: Bluetooth Low Energy, Near field Communication, ZigBee, Other Technologies
4) By Deployment Mode: On-Premise, Cloud
5) By Application: Supply Chain Operations Management, Customer Management, Sales And Customer Management, Asset Management, Other Applications

Subsegments:
1) By Solution: Smart Shelves, Inventory Management Systems, Customer Analytics Platforms, Point Of Sale (POS) Systems, Beacon Technology
2) By Service: Consulting Services, Integration Services, Maintenance And Support Services, Data Management And Analytics Services, Training Services

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What Long-Term Drivers Are Shaping IoT in Retail Market Trends?
Expected growth in the IoT retail market is being fueled by the surge in e-commerce penetration. Commonly known as online or electronic commerce, e-commerce involves buying and selling goods or services via the internet, including financial and data transfers to finalise transactions. IoT plays a crucial role in e-commerce, particularly in inventory management, where items such as radio frequency identification tags provide essential product information like type, availability, and expiry date without requiring human input. IoT also enables detailed tracking of product movement during supply chain management, facilitates remote product evaluation to predict maintenance needs and performance analysis, enhances personalised business opportunities, and optimises customer and sales management, thereby augmenting e-commerce retail operations. For instance, information from the U.S. Census Bureau reveals that retail e-commerce sales in the USA escalated to $291.6 billion in Q2 2024, marking a 1.3% rise from Q1 and a 6.7% annual increase. The overall retail sales stood at $1,826.9 billion, indicating a 0.5% Q1 ascension and a 2.1% increase from Q2 2023. Consequently, the ascendance of e-commerce is a significant driver of IoT growth in the retail market.

Who Are the Top Competitors in Key IoT in Retail Market Segments?
Major companies operating in the IoT in retail market include ARM Limited, Cisco Systems Inc., Alphabet Inc., IBM Corporation, Impinj Corporation, Intel Corporation, Microsoft Corporation, PTC Inc., RetailNext Inc., SAP SE, Softweb Solutions Inc., Zebra Technologies Corporation, Huawei Technologies Company Limited, Amazon Web Services Inc., Software AG, Bosch Software Innovations GmbH, NEC Corporation, Oracle Corporation, Vodafone Group Plc., Allergen Technologies Private Limited, Sierra Wireless Inc., Happiest Minds Technologies Limited, Losant IoT inc., NXP Semiconductors N.V., Verizon Communications Inc., Microchip Technology Incorporated, Bsquare Corporation, Fujitsu Limited, Hewlett Packard Enterprise Development LP

What IoT in Retail Market Trends Are Gaining Traction Across Different Segments?
The emerging trend of product innovation is gaining traction in the IoT retail industry. Incorporating research and development for creative products to maintain their market status is a central focus for the majority of the companies in this sector. A notable example of this is the introduction of AllStar by Hanshow Technology Co. Ltd., a US-based firm that develops and supplies electronic shelf label (ESL) products and solutions in May 2022. This new IoT platform is specifically designed to assist retailers in enhancing and broadening their digitalization. The AllStar platform operates as a comprehensive system for the management of a store's entire range of digital devices. This includes Software as a Service (SaaS) and private deployment options, unified user authentication, and an open API for third-party application integration based on HTTP. It also offers key features that enhance the efficacy of smart store operations and elevate the customer's in-store experience. This includes price and inventory management, picking, geolocation, dynamic pricing, promotional boards, digital payment, passenger flow analysis, interactive advertising, and automatic patrol monitoring.

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Which Regions Are Becoming Hubs for IoT in Retail Market Innovation?
North America was the largest region in the IoT in retail market in 2024. Asia-Pacific is expected to be the fastest-growing region in the IoT in retail market report during the forecast period. The regions covered in the IoT in retail market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the IoT in Retail Market?
2. What is the CAGR expected in the IoT in Retail Market?
3. What Are the Key Innovations Transforming the IoT in Retail Industry?
4. Which Region Is Leading the IoT in Retail Market?

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