Product Code: ETC13394864 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | Author: Summon Dutta | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Internet of Things in Retail Market was valued at USD 40.7 Billion in 2024 and is expected to reach USD 88.5 Billion by 2031, growing at a compound annual growth rate of 10.70% during the forecast period (2025-2031).
The Global Internet of Things (IoT) in Retail Market is experiencing significant growth driven by the increasing adoption of smart technologies in the retail sector. IoT solutions in retail encompass a wide range of applications including inventory management, supply chain optimization, personalized marketing, and enhanced customer experiences through connected devices. The integration of IoT devices such as beacons, sensors, and smart shelves enables retailers to gather real-time data for analytics, leading to better decision-making and operational efficiency. The market is also propelled by the rising demand for seamless omnichannel experiences and the need for retailers to stay competitive in the digital age. With advancements in technology and the proliferation of IoT-enabled devices, the Global IoT in Retail Market is poised for continued expansion and innovation.
The Global Internet of Things (IoT) in Retail Market is experiencing significant growth driven by the increasing adoption of connected devices and technologies by retailers to enhance customer engagement and optimize operational efficiency. Key trends include the integration of IoT sensors for real-time inventory management, personalized shopping experiences through beacon technology, and the use of data analytics for customer insights. Opportunities in this market lie in leveraging IoT solutions to streamline supply chain logistics, improve in-store customer experiences through smart shelves and interactive displays, and enable contactless payment options. As retailers continue to prioritize digital transformation, the IoT in Retail market is poised for further expansion, offering innovative solutions to meet evolving consumer demands and drive business growth.
Some challenges faced in the Global Internet of Things (IoT) in Retail Market include data security and privacy concerns, interoperability issues among various IoT devices and platforms, high implementation costs, and the need for skilled personnel to manage and interpret the vast amount of data generated by IoT devices. Retailers also face challenges in ensuring seamless integration of IoT solutions with their existing systems and processes, as well as the potential resistance from customers who may be wary of the increasing use of IoT technology in their shopping experiences. Additionally, staying updated with rapidly evolving IoT technologies and standards poses a challenge for retailers aiming to leverage IoT to enhance customer experiences and operational efficiency while maintaining competitive advantage in the dynamic retail landscape.
The Global Internet of Things (IoT) in Retail Market is being driven by several key factors. One of the main drivers is the increasing demand for personalized and seamless shopping experiences among consumers. IoT technology enables retailers to gather real-time data on customer behavior and preferences, leading to more targeted marketing strategies and improved customer satisfaction. Additionally, IoT solutions help retailers optimize their operations by streamlining inventory management, enhancing supply chain efficiency, and reducing operational costs. The rise of online shopping and the need for brick-and-mortar stores to integrate digital technologies to stay competitive is also fueling the growth of IoT in the retail sector. Overall, the potential for IoT to revolutionize the retail industry by enhancing customer experiences, increasing operational efficiency, and driving revenue growth is propelling its adoption globally.
Government policies related to the Global Internet of Things (IoT) in the retail market primarily focus on data privacy, security, and consumer protection. Regulations often require retailers to ensure the security of IoT devices to prevent data breaches and protect sensitive consumer information. Additionally, governments may set standards for IoT devices to ensure interoperability and compatibility across different platforms. Some countries also have guidelines regarding the collection and use of consumer data through IoT devices to safeguard privacy rights. Overall, government policies aim to promote the growth of IoT in retail while addressing potential risks and ensuring a safe and transparent environment for both businesses and consumers.
The Global Internet of Things in Retail Market is expected to witness substantial growth in the coming years, driven by the increasing adoption of IoT technologies by retailers to enhance customer experience, optimize operations, and improve inventory management. The integration of IoT devices such as smart shelves, beacons, and RFID tags allows retailers to gain real-time insights into consumer behavior, track inventory levels, and personalize marketing strategies. The advancement of technologies like AI and machine learning will further enhance the capabilities of IoT in retail, enabling predictive analytics and automation of processes. As consumer demands for seamless shopping experiences continue to rise, the IoT in retail market is poised for significant expansion, offering opportunities for retailers to innovate and stay competitive in the evolving digital landscape.
In the Global Internet of Things in Retail Market, Asia Pacific is expected to witness significant growth due to the increasing adoption of IoT technologies by retailers in countries like China and India. North America is a mature market with a strong presence of key IoT solution providers and retailers leveraging IoT for enhancing customer experiences. Europe is also a prominent region in the IoT retail market, driven by the focus on enhancing operational efficiency and personalized shopping experiences. The Middle East and Africa region is slowly adopting IoT in retail, with the emphasis on improving supply chain management and customer engagement. Latin America is experiencing growth in IoT adoption in retail, driven by the need for better inventory management and customer insights. The global IoT in retail market is poised for substantial growth across all regions as retailers continue to invest in technological advancements to stay competitive.
Global Internet of Things (IoT) in Retail Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Internet of Things (IoT) in Retail Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Internet of Things (IoT) in Retail Market Revenues & Volume, 2021 & 2031F |
3.3 Global Internet of Things (IoT) in Retail Market - Industry Life Cycle |
3.4 Global Internet of Things (IoT) in Retail Market - Porter's Five Forces |
3.5 Global Internet of Things (IoT) in Retail Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Internet of Things (IoT) in Retail Market Revenues & Volume Share, By Offering, 2021 & 2031F |
3.7 Global Internet of Things (IoT) in Retail Market Revenues & Volume Share, By Hardware, 2021 & 2031F |
3.8 Global Internet of Things (IoT) in Retail Market Revenues & Volume Share, By Platforms, 2021 & 2031F |
3.9 Global Internet of Things (IoT) in Retail Market Revenues & Volume Share, By Service, 2021 & 2031F |
4 Global Internet of Things (IoT) in Retail Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Internet of Things (IoT) in Retail Market Trends |
6 Global Internet of Things (IoT) in Retail Market, 2021 - 2031 |
6.1 Global Internet of Things (IoT) in Retail Market, Revenues & Volume, By Offering, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Internet of Things (IoT) in Retail Market, Revenues & Volume, By Hardware, 2021 - 2031 |
6.1.3 Global Internet of Things (IoT) in Retail Market, Revenues & Volume, By Platforms, 2021 - 2031 |
6.1.4 Global Internet of Things (IoT) in Retail Market, Revenues & Volume, By Service, 2021 - 2031 |
6.1.5 Global Internet of Things (IoT) in Retail Market, Revenues & Volume, By Applications, 2021 - 2031 |
6.2 Global Internet of Things (IoT) in Retail Market, Revenues & Volume, By Hardware, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Internet of Things (IoT) in Retail Market, Revenues & Volume, By Beacon, 2021 - 2031 |
6.2.3 Global Internet of Things (IoT) in Retail Market, Revenues & Volume, By Sensors, 2021 - 2031 |
6.2.4 Global Internet of Things (IoT) in Retail Market, Revenues & Volume, By Gateway, 2021 - 2031 |
6.2.5 Global Internet of Things (IoT) in Retail Market, Revenues & Volume, By Radio-frequency Identification (RFID), 2021 - 2031 |
6.3 Global Internet of Things (IoT) in Retail Market, Revenues & Volume, By Platforms, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Internet of Things (IoT) in Retail Market, Revenues & Volume, By Device Management, 2021 - 2031 |
6.3.3 Global Internet of Things (IoT) in Retail Market, Revenues & Volume, By Application Management, 2021 - 2031 |
6.3.4 Global Internet of Things (IoT) in Retail Market, Revenues & Volume, By Connectivity Management, 2021 - 2031 |
6.4 Global Internet of Things (IoT) in Retail Market, Revenues & Volume, By Service, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Internet of Things (IoT) in Retail Market, Revenues & Volume, By Professional Services, 2021 - 2031 |
6.4.3 Global Internet of Things (IoT) in Retail Market, Revenues & Volume, By Consulting, 2021 - 2031 |
6.4.4 Global Internet of Things (IoT) in Retail Market, Revenues & Volume, By System Integration and Deployment, 2021 - 2031 |
6.4.5 Global Internet of Things (IoT) in Retail Market, Revenues & Volume, By Support and Maintenance, 2021 - 2031 |
6.4.6 Global Internet of Things (IoT) in Retail Market, Revenues & Volume, By Managed Services, 2021 - 2031 |
7 North America Internet of Things (IoT) in Retail Market, Overview & Analysis |
7.1 North America Internet of Things (IoT) in Retail Market Revenues & Volume, 2021 - 2031 |
7.2 North America Internet of Things (IoT) in Retail Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Internet of Things (IoT) in Retail Market, Revenues & Volume, By Offering, 2021 - 2031 |
7.4 North America Internet of Things (IoT) in Retail Market, Revenues & Volume, By Hardware, 2021 - 2031 |
7.5 North America Internet of Things (IoT) in Retail Market, Revenues & Volume, By Platforms, 2021 - 2031 |
7.6 North America Internet of Things (IoT) in Retail Market, Revenues & Volume, By Service, 2021 - 2031 |
8 Latin America (LATAM) Internet of Things (IoT) in Retail Market, Overview & Analysis |
8.1 Latin America (LATAM) Internet of Things (IoT) in Retail Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Internet of Things (IoT) in Retail Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Internet of Things (IoT) in Retail Market, Revenues & Volume, By Offering, 2021 - 2031 |
8.4 Latin America (LATAM) Internet of Things (IoT) in Retail Market, Revenues & Volume, By Hardware, 2021 - 2031 |
8.5 Latin America (LATAM) Internet of Things (IoT) in Retail Market, Revenues & Volume, By Platforms, 2021 - 2031 |
8.6 Latin America (LATAM) Internet of Things (IoT) in Retail Market, Revenues & Volume, By Service, 2021 - 2031 |
9 Asia Internet of Things (IoT) in Retail Market, Overview & Analysis |
9.1 Asia Internet of Things (IoT) in Retail Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Internet of Things (IoT) in Retail Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Internet of Things (IoT) in Retail Market, Revenues & Volume, By Offering, 2021 - 2031 |
9.4 Asia Internet of Things (IoT) in Retail Market, Revenues & Volume, By Hardware, 2021 - 2031 |
9.5 Asia Internet of Things (IoT) in Retail Market, Revenues & Volume, By Platforms, 2021 - 2031 |
9.6 Asia Internet of Things (IoT) in Retail Market, Revenues & Volume, By Service, 2021 - 2031 |
10 Africa Internet of Things (IoT) in Retail Market, Overview & Analysis |
10.1 Africa Internet of Things (IoT) in Retail Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Internet of Things (IoT) in Retail Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Internet of Things (IoT) in Retail Market, Revenues & Volume, By Offering, 2021 - 2031 |
10.4 Africa Internet of Things (IoT) in Retail Market, Revenues & Volume, By Hardware, 2021 - 2031 |
10.5 Africa Internet of Things (IoT) in Retail Market, Revenues & Volume, By Platforms, 2021 - 2031 |
10.6 Africa Internet of Things (IoT) in Retail Market, Revenues & Volume, By Service, 2021 - 2031 |
11 Europe Internet of Things (IoT) in Retail Market, Overview & Analysis |
11.1 Europe Internet of Things (IoT) in Retail Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Internet of Things (IoT) in Retail Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Internet of Things (IoT) in Retail Market, Revenues & Volume, By Offering, 2021 - 2031 |
11.4 Europe Internet of Things (IoT) in Retail Market, Revenues & Volume, By Hardware, 2021 - 2031 |
11.5 Europe Internet of Things (IoT) in Retail Market, Revenues & Volume, By Platforms, 2021 - 2031 |
11.6 Europe Internet of Things (IoT) in Retail Market, Revenues & Volume, By Service, 2021 - 2031 |
12 Middle East Internet of Things (IoT) in Retail Market, Overview & Analysis |
12.1 Middle East Internet of Things (IoT) in Retail Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Internet of Things (IoT) in Retail Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Internet of Things (IoT) in Retail Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Internet of Things (IoT) in Retail Market, Revenues & Volume, By Offering, 2021 - 2031 |
12.4 Middle East Internet of Things (IoT) in Retail Market, Revenues & Volume, By Hardware, 2021 - 2031 |
12.5 Middle East Internet of Things (IoT) in Retail Market, Revenues & Volume, By Platforms, 2021 - 2031 |
12.6 Middle East Internet of Things (IoT) in Retail Market, Revenues & Volume, By Service, 2021 - 2031 |
13 Global Internet of Things (IoT) in Retail Market Key Performance Indicators |
14 Global Internet of Things (IoT) in Retail Market - Export/Import By Countries Assessment |
15 Global Internet of Things (IoT) in Retail Market - Opportunity Assessment |
15.1 Global Internet of Things (IoT) in Retail Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Internet of Things (IoT) in Retail Market Opportunity Assessment, By Offering, 2021 & 2031F |
15.3 Global Internet of Things (IoT) in Retail Market Opportunity Assessment, By Hardware, 2021 & 2031F |
15.4 Global Internet of Things (IoT) in Retail Market Opportunity Assessment, By Platforms, 2021 & 2031F |
15.5 Global Internet of Things (IoT) in Retail Market Opportunity Assessment, By Service, 2021 & 2031F |
16 Global Internet of Things (IoT) in Retail Market - Competitive Landscape |
16.1 Global Internet of Things (IoT) in Retail Market Revenue Share, By Companies, 2024 |
16.2 Global Internet of Things (IoT) in Retail Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |