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PUBLISHER: Grand View Research | PRODUCT CODE: 1511822
PUBLISHER: Grand View Research | PRODUCT CODE: 1511822
Internet Of Things In Retail Market Size, Share & Trends Analysis Report By Component (Hardware, Platform, Services), By Deployment (On-premise, Cloud), By Technology, By Application, By Region, And Segment Forecasts, 2024 - 2030
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Internet Of Things In Retail Market Growth & Trends:
The global internet of things in retail market size is expected to reach USD 310.73 billion by 2030, growing at a CAGR of 29.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market growth is attributed to enhanced customer experience, operational efficiency gains through automation and data-driven insights, supply chain optimization, and cost-effective implementation due to declining hardware costs. In addition, rising technological advancements and increasing competition in the market are expected to present opportunities for market growth.
IoT technologies are revolutionizing the retail industry by providing a seamless omnichannel shopping experience. Customers can now interact with brands across multiple touchpoints without any hassle. For instance, IoT-enabled mobile apps can offer personalized recommendations, enable mobile payments, and provide in-store navigation assistance, creating a cohesive experience that spans both online and offline channels. This integration ensures consistency and continuity throughout the customer journey, regardless of the channels or devices used, thereby enhancing customer satisfaction and loyalty.
The data generated by IoT devices can provide retailers with crucial insights into customer behavior, preferences, and trends. This information can empower them to make data-driven decisions that optimize operations and drive business growth. By using advanced analytics and machine learning algorithms, retailers can gain actionable intelligence from IoT data, such as predicting demand, optimizing pricing strategies, and identifying opportunities for cross-selling and upselling. These insights enable retailers to stay ahead of market trends, anticipate customer needs, and deliver products and services that resonate with their target audience, ultimately driving revenue and profitability of the market.
Companies are involved in strategic partnerships and collaborations, allocating substantial resources toward research and development to drive innovation and stay competitive in the industry. For instance, in January 2024, IBM Corporation collaborated with SAP SE to develop solutions using generative AI to help clients in the consumer-packaged goods and retail industries optimize their supply chain, finance operations, sales, and services. Such strategies by market players are anticipated to augment the market's growth in the near future.
Internet Of Things In Retail Market Report Highlights:
- Based on component, the hardware segment dominated the market in 2023. The growing focus of retail businesses on data-driven decision-making and the need for real-time insights is driving the demand for IoT hardware to collect, process, and transmit data from physical environments, enabling retailers to make informed decisions and drive business growth.
- Based on technology, the Near Field Communication (NFC) segment dominated the market in 2023 due to the increasing consumer preference for mobile-centric shopping experiences and the growing availability of NFC-enabled smartphones and payment terminals in retail environments
- Based on application, the asset management segment dominated the market in 2023 due to the growing focus of retailers on optimizing asset utilization and operational efficiency
- Based on deployment, the cloud segment dominated the market in 2023 owing to the scalability, flexibility, and accessibility of the cloud model, enabling retailers to deploy and scale IoT initiatives quickly without significant upfront investments
- North America accounted for a significant market share in 2023 owing to the region's mature and technologically advanced retail market, robust infrastructure, favorable regulatory environment, strong consumer demand for personalized experiences, and a culture of innovation and entrepreneurship fostering rapid IoT adoption and evolution in the retail sector
- In January 2024, Softweb Solutions Inc. launched the 360° programs focused on AI, generative AI, data, IoT, digital, and its new product called Needle. This new suite of technology provides an integrated approach to help enterprises realize their full potential of future-ready innovation.
Product Code: GVR-1-68038-752-0
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market Segmentation & Scope
- 1.2 Market Definitions
- 1.3 Information Procurement
- 1.3.1 Information Analysis
- 1.3.2 Market Formulation & Data Visualization
- 1.3.3 Data Validation & Publishing
- 1.4 Research Scope And Assumptions
- 1.4.1 List of Data Sources
Chapter 2 Executive Summary
- 2.1 Market Snapshot
- 2.2 Segment Snapshot (1/3)
- 2.3 Segment Snapshot (2/3)
- 2.4 Segment Snapshot (3/3)
- 2.5 Competitive Landscape Snapshot
Chapter 3 Internet Of Things In Retail: Market Variables, Trends & Scope
- 3.1 Market Overview
- 3.2 Industry Value Chain Analysis
- 3.3 Market Dynamics
- 3.3.1 Market Driver Analysis
- 3.3.1.1 Customer Demand for Seamless Shopping Experiences
- 3.3.1.2 Rising Adoption of Smart Payment Solutions
- 3.3.2 Market Restraint Analysis
- 3.3.2.1 Security Concerns due to vast Data Flow
- 3.3.3 Market Opportunities
- 3.3.4 Market Challenges
- 3.3.1 Market Driver Analysis
- 3.4 Industry Analysis Tools
- 3.4.1 Porter's Analysis
- 3.4.2 Macroeconomic Analysis
Chapter 4 Internet Of Things In Retail Market: Component Estimates & Trends Analysis
- 4.1 Market Size Estimates & Forecasts & Trends Analysis, 2018 - 2030 (USD Billion)
- 4.2 Component Movement Analysis & Market Share, 2023 & 2030
- 4.3 Internet of Things in Retail Market Estimates & Forecast, By Component
- 4.3.1 Hardware
- 4.3.1.1 Beacons
- 4.3.1.2 RFID Tags
- 4.3.1.3 Sensors
- 4.3.1.4 Wearables
- 4.3.2 Platform
- 4.3.2.1 Connectivity Management
- 4.3.2.2 Application Management
- 4.3.2.3 Device Management
- 4.3.3 Services
- 4.3.3.1 Professional Services
- 4.3.3.2 Managed Services
- 4.3.1 Hardware
Chapter 5 Internet Of Things In Retail Market: Technology Estimates & Trends Analysis
- 5.1 Market Size Estimates & Forecasts And Trends Analysis, 2018 - 2030 (USD Billion)
- 5.2 Technology Movement Analysis & Market Share, 2023 & 2030
- 5.3 Internet Of Things In Retail Market Estimates & Forecast, By Technology
- 5.3.1 Bluetooth Low Energy
- 5.3.2 Near Field Communication
- 5.3.3 Zigbee
- 5.3.4 Others
Chapter 6 Internet Of Things In Retail Market: Application Estimates & Trends Analysis
- 6.1 Market Size Estimates & Forecasts And Trends Analysis, 2018 - 2030 (USD Billion)
- 6.2 Application Movement Analysis & Market Share, 2023 & 2030
- 6.3 Internet Of Things In Retail Market Estimates & Forecast, By Application
- 6.3.1 Operations Management
- 6.3.1.1 Inventory Management
- 6.3.1.2 Supply Chain Automation
- 6.3.1.3 Workforce Management
- 6.3.1.4 Security & Safety
- 6.3.2 Customer Management
- 6.3.2.1 Smart Vending Machine
- 6.3.2.2 Smart Shelves
- 6.3.2.3 Queue Management
- 6.3.2.4 Automated Checkout
- 6.3.3 Asset Management
- 6.3.3.1 Asset Tracking
- 6.3.3.2 Predictive Maintenance
- 6.3.4 Advertising and Marketing
- 6.3.4.1 Smart Digital Signage
- 6.3.4.2 Geomarketing
- 6.3.5 Others
- 6.3.1 Operations Management
Chapter 7 Internet Of Things In Retail Market: Deployment Estimates & Trends Analysis
- 7.1 Market Size Estimates & Forecasts And Trends Analysis, 2018 - 2030 (USD Billion)
- 7.2 Deployment Movement Analysis & Market Share, 2023 & 2030
- 7.3 Internet Of Things In Retail Market Estimates & Forecast, By Deployment
- 7.3.1 On-premise
- 7.3.2 Cloud
Chapter 8 Internet Of Things In Retail Market: Regional Estimates And Trends Analysis
- 8.1 Internet Of Things In Retail Market: Regional Outlook
- 8.2 North America
- 8.2.1 North America Internet Of Things In Retail Market Estimates &
- 8.2.2 U.S.
- 8.2.2.1 U.S. Internet Of Things In Retail Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 8.2.3 Canada
- 8.2.3.1 Canada Internet Of Things In Retail Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 8.3 Europe
- 8.3.1 Europe Internet Of Things In Retail Market Estimates & Forecasts,
- 8.3.2 UK
- 8.3.2.1 UK Internet Of Things In Retail Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 8.3.3 Germany
- 8.3.3.1 Germany Internet Of Things In Retail Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 8.3.4 France
- 8.3.4.1 France Internet Of Things In Retail Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 8.3.5 Italy
- 8.3.5.1 Italy Internet Of Things In Retail Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 8.3.6 Spain
- 8.3.6.1 Spain Internet Of Things In Retail Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 8.4 Asia Pacific
- 8.4.1 Asia Pacific Internet Of Things In Retail Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 8.4.2 China
- 8.4.2.1 China Internet Of Things In Retail Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 8.4.3 Japan
- 8.4.3.1 Japan Internet Of Things In Retail Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 8.4.4 India
- 8.4.4.1 India Internet Of Things In Retail Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 8.4.5 South Korea
- 8.4.5.1 South Korea Internet Of Things In Retail Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 8.5 Latin America
- 8.5.1 Latin America Internet Of Things In Retail Market Estimates &
- 8.5.2 Brazil
- 8.5.2.1 Brazil Internet Of Things In Retail Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 8.5.3 Mexico
- 8.5.3.1 Mexico Internet Of Things In Retail Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 8.6 Middle East & Africa (MEA)
- 8.6.1 MEA Internet Of Things In Retail Market Estimates & Forecasts,
- 8.6.2 UAE
- 8.6.2.1 UAE Internet Of Things In Retail Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 8.6.3 South Africa
- 8.6.3.1 South Africa Internet Of Things In Retail Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
Chapter 9 Competitive Landscape
- 9.1 Recent Developments & Impact Analysis, By Key Market Participants
- 9.2 Company Categorization
- 9.3 Participant's Overview
- 9.4 Financial Performance
- 9.5 Product Benchmarking
- 9.6 Company Heat Map Analysis
- 9.8 Company Market Share Analysis, 2023
- 9.9 Strategy Mapping
- 9.9.1 New Product Launches
- 9.9.2 Expansion
- 9.9.3 Mergers & Acquisitions
- 9.9.4 Collaborations
- 9.9.5 Investment/Divestment
- 9.10 Company Profiles
- 9.10.1 Arm Limited
- 9.10.1.1 Participant's Overview
- 9.10.1.2 Financial Performance
- 9.10.1.3 Product Benchmarking
- 9.10.1.4 Recent Developments
- 9.10.2 Cisco Systems Inc
- 9.10.2.1 Participant's Overview
- 9.10.2.2 Financial Performance
- 9.10.2.3 Product Benchmarking
- 9.10.2.4 Recent Developments
- 9.10.3 IBM Corporation
- 9.10.3.1 Participant's Overview
- 9.10.3.2 Financial Performance
- 9.10.3.3 Product Benchmarking
- 9.10.3.4 Recent Developments
- 9.10.4 Intel Corporation
- 9.10.4.1 Participant's Overview
- 9.10.4.2 Financial Performance
- 9.10.4.3 Product Benchmarking
- 9.10.4.4 Recent Developments
- 9.10.5 SAP SE
- 9.10.5.1 Participant's Overview
- 9.10.5.2 Financial Performance
- 9.10.5.3 Product Benchmarking
- 9.10.5.4 Recent Developments
- 9.10.6 Arm Limited
- 9.10.6.1 Participant's Overview
- 9.10.6.2 Financial Performance
- 9.10.6.3 Product Benchmarking
- 9.10.6.4 Recent Developments
- 9.10.7 Google LLC
- 9.10.7.1 Participant's Overview
- 9.10.7.2 Financial Performance
- 9.10.7.3 Product Benchmarking
- 9.10.7.4 Recent Developments
- 9.10.8 Microsoft Corporation
- 9.10.8.1 Participant's Overview
- 9.10.8.2 Financial Performance
- 9.10.8.3 Product Benchmarking
- 9.10.8.4 Recent Developments
- 9.10.9 NXP Semiconductors
- 9.10.9.1 Participant's Overview
- 9.10.9.2 Financial Performance
- 9.10.9.3 Product Benchmarking
- 9.10.9.4 Recent Developments
- 9.10.10 PTC Inc.
- 9.10.10.1 Participant's Overview
- 9.10.10.2 Financial Performance
- 9.10.10.3 Product Benchmarking
- 9.10.10.4 Recent Developments
- 9.10.11 Softweb Solutions Inc
- 9.10.11.1 Participant's Overview
- 9.10.11.2 Financial Performance
- 9.10.11.3 Product Benchmarking
- 9.10.11.4 Recent Developments
- 9.10.12 Verizon Communications Inc.
- 9.10.12.1 Participant's Overview
- 9.10.12.2 Financial Performance
- 9.10.12.3 Product Benchmarking
- 9.10.12.4 Recent Developments
- 9.10.13 Losant IoT
- 9.10.13.1 Participant's Overview
- 9.10.13.2 Financial Performance
- 9.10.13.3 Product Benchmarking
- 9.10.13.4 Recent Developments
- 9.10.14 RetailNext, Inc.
- 9.10.14.1 Participant's Overview
- 9.10.14.2 Financial Performance
- 9.10.14.3 Product Benchmarking
- 9.10.14.4 Recent Developments
- 9.10.15 Zebra Technologies Corporation
- 9.10.15.1 Participant's Overview
- 9.10.15.2 Financial Performance
- 9.10.15.3 Product Benchmarking
- 9.10.15.4 Recent Developments
- 9.10.1 Arm Limited
Product Code: GVR-1-68038-752-0
List of Tables
- Table 1 Key market driver impact
- Table 2 Key market restraint impact
- Table 3 Global Internet of Things in retail market revenue estimates and forecast, by component, 2018 - 2030 (USD Billion)
- Table 4 Global Internet of Things in retail market revenue estimates and forecast, by technology, 2018 - 2030 (USD Billion)
- Table 5 Global Internet of Things in retail market revenue estimates and forecast, by application, 2018 - 2030 (USD Billion)
- Table 6 Global Internet of Things in retail market revenue estimates and forecast, by deployment, 2018 - 2030 (USD Billion)
- Table 7 Company heat map analysis
- Table 8 Key companies launching new products
- Table 9 Key companies involved in the expansion
- Table 10 Key companies involved in merger & acquisition
- Table 11 Key companies undergoing collaborations
- Table 12 Key company in engaged in investment/divestment
List of Figures
- Fig. 1 Internet of Things in Retail Market Segmentation
- Fig. 2 Information Procurement
- Fig. 3 Data Analysis Models
- Fig. 4 Market Formulation and Validation
- Fig. 5 Data Validating & Publishing
- Fig. 6 Market Snapshot
- Fig. 7 Segment Snapshot (1/3)
- Fig. 8 Segment Snapshot (2/3)
- Fig. 9 Segment Snapshot (3/3)
- Fig. 10 Competitive Landscape Snapshot
- Fig. 11 Internet of Things in Retail Market Value, 2023 & 2030 (USD Billion)
- Fig. 12 Industry Value Chain Analysis
- Fig. 13 Market Dynamics
- Fig. 14 Global Internet of Things Spending, 2018 - 2030 (USD Billion)
- Fig. 15 Adoption of contactless payment, by region, 2023 (%)
- Fig. 16 PORTER's Analysis
- Fig. 17 PESTEL Analysis
- Fig. 18 Internet of Things in retail market, by component, key takeaways
- Fig. 19 Internet of Things in retail market, by component: market share, 2023 & 2030
- Fig. 20 Hardware market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 21 Beacons market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 22 RFID tags market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 23 Sensors market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 24 Wearables market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 25 Platform market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 26 Connectivity management market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 27 Application management market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 28 Device management market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 29 Services market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 30 Professional services market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 31 Managed services market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 32 Internet of Things in retail market, by technology, key takeaways
- Fig. 33 Internet of Things in retail market, by technology: market share, 2023 & 2030
- Fig. 34 Bluetooth low energy market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 35 Near field communication market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 36 Zigbee market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 37 Others market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 38 Internet of Things in retail market, by application, key takeaways
- Fig. 39 Internet of Things in retail market, by application: market share, 2023 & 2030
- Fig. 40 Operations management market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 41 Inventory management market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 42 Supply chain automation market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 43 Workforce management market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 44 Security & safety management market estimates & forecasts, 2018 - 2030 (USD Billion) 65
- Fig. 45 Customer management market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 46 Smart vending machine market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 47 Smart shelves market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 48 Queue management market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 49 Automated checkout market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 50 Asset management market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 51 Asset tracking market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 52 Predictive maintenance market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 53 Advertising & marketing market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 54 Smart digital signage market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 55 Geomarketing market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 56 Others market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 57 Internet of Things in retail market, by deployment, key takeaways
- Fig. 58 Internet of Things in retail market, by deployment: market share, 2023 & 2030
- Fig. 59 On-premise market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 60 Cloud market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 61 Internet of Things in retail market revenue, by region, 2023 & 2030 (USD Billion)
- Fig. 62 Regional marketplace: Key takeaways (1/2)
- Fig. 63 Regional marketplace: Key takeaways (2/2)
- Fig. 64 North America internet of things in retail market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 65 U.S. internet of things in retail market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 66 Canada internet of things in retail market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 67 Europe internet of things in retail market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 68 UK internet of things in retail market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 69 Germany internet of things in retail market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 70 France internet of things in retail market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 71 Italy internet of things in retail market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 72 Spain internet of things in retail market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 73 Asia Pacific internet of things in retail market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 74 China internet of things in retail market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 75 Japan internet of things in retail market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 76 India internet of things in retail market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 77 South Korea internet of things in retail market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 78 Latin America internet of things in retail market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 79 Brazil internet of things in retail market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 80 Mexico internet of things in retail market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 81 MEA internet of things in retail market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 82 UAE internet of things in retail market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 83 South Africa internet of things in retail market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 84 Key Company Categorization
- Fig. 85 Company Market Share Analysis, 2023
- Fig. 86 Strategic Framework
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