IoT In Retail Global Market Report 2024

Description

“IoT In Retail Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on iota in retail market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for iota in retail? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The iota in retail market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

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
Companies Mentioned: ARM Limited; Cisco Systems Inc.; Alphabet Inc.; IBM Corporation; Impinj Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

The Internet of Things (IoT) is a network of physical objects equipped with integrated technologies that enable them to connect, sense, and interact with their internal or external environments. It comprises end-to-end services where companies engage external vendors to design, build, install, and operate IoT solutions, often including consulting advice for IoT planning. In the retail industry, IoT is utilized for store flow management, inventory management, and enhancing the customer experience through real-time customer data.

The main types of IoT applications in retail include Beacons, RFID tags, sensors, wearables, and others. Beacons are small, battery-powered wireless devices that transmit Bluetooth signals to nearby cellphones. These solutions and services leverage technologies such as Bluetooth low energy, near-field communication, ZigBee, among others. Deployment modes include on-premise and cloud, serving various applications such as supply chain operations management, customer management, sales, asset management, and more.

The IoT in the retail market research report is one of a series of new reports from The Business Research Company that provides IoT in retail market statistics, including IoT in retail industry global market size, regional shares, competitors with an IoT in retail market share, detailed IoT in retail market segments, market trends and opportunities, and any further data you may need to thrive in the IoT in the retail industry. This IoT in retail market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The iot in retail market size has grown rapidly in recent years. It will grow from $33.76 billion in 2023 to $40.35 billion in 2024 at a compound annual growth rate (CAGR) of 19.5%. The growth observed in the historical period can be attributed to data-driven decision-making, the evolution of customer engagement, inventory optimization, enhanced in-store experiences, and security and loss prevention measures.

The iot in retail market size is expected to see rapid growth in the next few years. It will grow to $78.73 billion in 2028 at a compound annual growth rate (CAGR) of 18.2%. The anticipated growth in the forecast period can be attributed to the integration of data analytics and AI, increased adoption of edge computing, consumer adoption of IoT devices, the expansion of omnichannel retailing, and the implementation of cybersecurity and data privacy measures. Major trends expected in the forecast period include enhanced supply chain visibility and transparency, the implementation of smart shelves and product monitoring, improved security and loss prevention measures, in-store analytics and foot traffic monitoring, as well as the widespread adoption of contactless payment and checkout systems.

The anticipated growth of the IoT in the retail market is driven by the increasing prevalence of e-commerce. E-commerce, synonymous with online commerce, involves buying and selling goods or services over the internet, facilitated by IoT technologies that enhance inventory management through features such as radio frequency identification tags. These tags enable the retrieval of essential item information, such as product type, availability, and expiration date, without human intervention. IoT in e-commerce optimizes retail operations by offering precise tracking during supply chain management, remote product assessment for predictive maintenance, personalized business experiences, and efficient customer and sales management. In the third quarter of 2022, the Census Bureau of the Department of Commerce reported total retail sales estimated at $1,792.0 billion, with e-commerce contributing to 14.8% of total sales, emphasizing the significant impact of increasing e-commerce penetration on the IoT in the retail market.

The growth of the IoT in the retail market is further propelled by the rising adoption of smartphone devices. Smartphones, mobile devices with advanced computing capabilities, internet access, and touchscreen interfaces, have led to increased usage of mobile shopping applications. Retailers leverage IoT technologies to enhance these applications by offering features such as personalized recommendations, in-app navigation, and location-based promotions. As of February 2023, Uswitch Limited reported an increase in active mobile connections to 71.8 million in 2022, reflecting a 3.8% growth from the previous year. With an estimated 95% smartphone penetration among the projected 68.3 million people in the UK by 2025, the adoption of smartphones is a significant driver of IoT growth in the retail market.

A notable trend in the IoT in the retail market is product innovation, with major companies focusing on research and development to introduce innovative products. For instance, in May 2022, Hanshow Technology Co. Ltd introduced the AllStar IoT platform, designed to assist retailers in upgrading and expanding their digitalization efforts. The platform integrates various digital devices within a store, offering functions such as pricing management, inventory management, geolocation, dynamic pricing, and interactive marketing, among others. Product innovation is crucial for companies to maintain their positions in the IoT in the retail market.

Major companies in the IoT in retail market are adopting a strategic partnership approach to create wirelessly powered IoT applications for in-store retail. Strategic partnerships involve leveraging mutual strengths and resources for shared benefits. In January 2023, Energous Corporation partnered with SATO Holdings Corporation to integrate Energous' WattUp PowerBridge transmitters with IoT applications developed for advanced smart store functionalities. This collaboration aims to enable wireless powering capabilities for Wiliot IoT Pixel sensor tags, facilitating asset and inventory management solutions in stores and warehouses. The partnership demonstrates the importance of strategic collaborations in driving innovation in the IoT in the retail market.

In September 2021, Panasonic Holdings Corporation acquired Blue Yonder for $8.5 billion. This strategic move aims to strengthen both companies' portfolios in autonomous supply chains, enhancing e-commerce strategies, retail stores, warehouses, transportation, and workplaces. Blue Yonder, a provider of an end-to-end digital fulfillment platform, aligns with Panasonic's vision of establishing smarter and more integrated solutions in the IoT-driven retail landscape.

Major companies operating in the iot in retail market report are 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., Freescale Semiconductor Inc., Xively Inc., Microchip Technology Incorporated, Bsquare Corporation, Fujitsu Limited, Hewlett Packard Enterprise Development LP .

North America was the largest region in the IoT in retail market in 2023. 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

The countries covered in the iot in retail market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The IoT in retail market consists of revenues earned by entities by offering IoT-enabled services for retail such as security, and safety, and inventory management. The market value includes the value of related goods sold by the service provider or included within the service offering. The IoT in retail market also includes sales of electronic systems, devices, and software that are used in providing IoT services in retail. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11082

1. Executive Summary

2. IoT In Retail Market Characteristics

3. IoT In Retail Market Trends And Strategies

4. IoT In Retail Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global IoT In Retail Market Size and Growth

5.1. Global IoT In Retail Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global IoT In Retail Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global IoT In Retail Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. IoT In Retail Market Segmentation

6.1. Global IoT In Retail Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Solution
Service
6.2. Global IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Beacons
RFID Tags
Sensors
Wearables
Other Types
6.3. Global IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Bluetooth low energy
Near field communication
ZigBee
Other Technologies
6.4. Global IoT In Retail Market, Segmentation By Deployment Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
On-premise
Cloud
6.5. Global IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Supply Chain Operations Management
Customer Management
Sales and Customer Management
Asset Management
Other Applications

7. IoT In Retail Market Regional And Country Analysis

7.1. Global IoT In Retail Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global IoT In Retail Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific IoT In Retail Market

8.1. Asia-Pacific IoT In Retail Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China IoT In Retail Market

9.1. China IoT In Retail Market Overview
9.2. China IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India IoT In Retail Market

10.1. India IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan IoT In Retail Market

11.1. Japan IoT In Retail Market Overview
11.2. Japan IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia IoT In Retail Market

12.1. Australia IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia IoT In Retail Market

13.1. Indonesia IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea IoT In Retail Market

14.1. South Korea IoT In Retail Market Overview
14.2. South Korea IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe IoT In Retail Market

15.1. Western Europe IoT In Retail Market Overview
15.2. Western Europe IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK IoT In Retail Market

16.1. UK IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany IoT In Retail Market

17.1. Germany IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France IoT In Retail Market

18.1. France IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy IoT In Retail Market

19.1. Italy IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain IoT In Retail Market

20.1. Spain IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe IoT In Retail Market

21.1. Eastern Europe IoT In Retail Market Overview
21.2. Eastern Europe IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia IoT In Retail Market

22.1. Russia IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America IoT In Retail Market

23.1. North America IoT In Retail Market Overview
23.2. North America IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA IoT In Retail Market

24.1. USA IoT In Retail Market Overview
24.2. USA IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada IoT In Retail Market

25.1. Canada IoT In Retail Market Overview
25.2. Canada IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America IoT In Retail Market

26.1. South America IoT In Retail Market Overview
26.2. South America IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil IoT In Retail Market

27.1. Brazil IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East IoT In Retail Market

28.1. Middle East IoT In Retail Market Overview
28.2. Middle East IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa IoT In Retail Market

29.1. Africa IoT In Retail Market Overview
29.2. Africa IoT In Retail Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa IoT In Retail Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa IoT In Retail Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. IoT In Retail Market Competitive Landscape And Company Profiles

30.1. IoT In Retail Market Competitive Landscape
30.2. IoT In Retail Market Company Profiles
- 30.2.1. ARM Limited
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Cisco Systems Inc.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Alphabet Inc.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. IBM Corporation
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Impinj Corporation
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global IoT In Retail Market Competitive Benchmarking

32. Global IoT In Retail Market Competitive Dashboard

33. Key Mergers And Acquisitions In The IoT In Retail Market

34. IoT In Retail Market Future Outlook and Potential Analysis

34.1 IoT In Retail Market In 2028 - Countries Offering Most New Opportunities
34.2 IoT In Retail Market In 2028 - Segments Offering Most New Opportunities
34.3 IoT In Retail Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer