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Internet of Things (IoT) in Retail Market Report by Solution (Hardware, Software), Service (Professional Services, Managed Services), Technology (Near Field Communication, Bluetooth Low Energy, ZigBee, and Others), Platform (Device Management, Application Management, Connectivity Management), Application (Operations Management, Asset Management, Customer Experience Management, Advertising and Marketing), and Region 2024-2032

April 2024 | 135 pages | ID: I75DD978E1A5EN
IMARC Group

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The global internet of things (IoT) in retail market size reached US$ 58.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 229.0 Billion by 2032, exhibiting a growth rate (CAGR) of 16.05% during 2024-2032.

The Internet of things (IoT) is a data network comprising devices that connect to the Internet and exchange data without requiring human-to-machine interaction. It finds extensive applications in the retail sector as IoT helps link the physical and digital world by allowing bidirectional real-time interaction with consumers inside and outside the store. It offers functional advantages, such as dynamic pricing, inventory tracking, monitoring, and personalized recommendations. Besides this, it also allows retailers to track customer movement and acquire insights about their shopping behavior.

Internet of Things in Retail Market Trends:
The rising automation in the retail sector to minimize labor costs represents one of the key factors bolstering the growth of the market. Moreover, retailers are focusing on launching innovative products and services and guaranteeing security to avoid data breaches. They are also aiming at bringing a digital transformation to their conventional bricks-and-mortar outlets. As a result, retailers are nowadays adopting IoT technologies, such as digital signage, payment systems, and smart lighting and vending machines. In addition, they are utilizing radio-frequency identification (RFID) for asset tracking in stores and warehouses, sensors and cameras for monitoring product status and customer traffic, and in-store Wi-Fi to detect return customers and encourage digital interaction. Apart from this, IoT devices enhance customer experience (CX) in stores through interactive terminals, virtual or augmented reality (AR/VR) experience, smart fitting rooms, and robots that can be deployed as smart sales assistants. These benefits, coupled with the rapid expansion of the e-commerce industry, are facilitating the growth of the market. Furthermore, with the declining cost of IoT hardware, small and medium-sized retailers are increasingly investing in IoT technologies, which is positively influencing the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global IoT in retail market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on solution, service, technology, platform and application.

Breakup by Solution:

Hardware
RFID tags
Beacons
Sensors
Wearables
Software

Breakup by Service:

Professional Services
Managed Services

Breakup by Technology:

Near Field Communication
Bluetooth Low Energy
ZigBee
Others

Breakup by Platform:

Device Management
Application Management
Connectivity Management

Breakup by Application:

Operations Management
Asset Management
Customer Experience Management
Advertising and Marketing

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Allerin Tech Pvt Ltd, Amazon.com Inc., Bosch.IO GmbH, Cisco Systems Inc., Huawei Technologies Co. Ltd, Intel Corporation, International Business Machines Corporation, Microsoft Corporation, NEC Corporation (AT&T Corporation), Oracle Corporation, Software AG, Telit and Vodafone Group Plc.

Key Questions Answered in This Report

1. What was the size of the global Internet of Things in retail market in 2023?
2. What is the expected growth rate of the global IoT in retail market during 2024-2032?
3. What are the key factors driving the global Internet of Things in retail market?
4. What has been the impact of COVID-19 on the global Internet of Things (IoT) in retail market?
5. What is the breakup of the global Internet of Things (IoT) in retail market based on the solution?
6. What is the breakup of the global IoT in retail market based on the service?
7. What is the breakup of the global Internet of Things in retail market based on the technology?
8. What is the breakup of the global IoT in retail market based on the platform?
9. What is the breakup of the global Internet of Things in retail market based on the application?
10. What are the key regions in the global Internet of Things (IoT) in retail market?
11. Who are the key players/companies in the global Internet of Things (IoT) in retail market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL INTERNET OF THINGS (IOT) IN RETAIL MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY SOLUTION

6.1 Hardware
  6.1.1 Market Trends
  6.1.2 Key Segments
    6.1.2.1 RFID tags
    6.1.2.2 Beacons
    6.1.2.3 Sensors
    6.1.2.4 Wearables
  6.1.3 Market Forecast
6.2 Software
  6.2.1 Market Trends
  6.2.2 Market Forecast

7 MARKET BREAKUP BY SERVICE

7.1 Professional Services
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Managed Services
  7.2.1 Market Trends
  7.2.2 Market Forecast

8 MARKET BREAKUP BY TECHNOLOGY

8.1 Near Field Communication
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Bluetooth Low Energy
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3 ZigBee
  8.3.1 Market Trends
  8.3.2 Market Forecast
8.4 Others
  8.4.1 Market Trends
  8.4.2 Market Forecast

9 MARKET BREAKUP BY PLATFORM

9.1 Device Management
  9.1.1 Market Trends
  9.1.2 Market Forecast
9.2 Application Management
  9.2.1 Market Trends
  9.2.2 Market Forecast
9.3 Connectivity Management
  9.3.1 Market Trends
  9.3.2 Market Forecast

10 MARKET BREAKUP BY APPLICATION

10.1 Operations Management
  10.1.1 Market Trends
  10.1.2 Market Forecast
10.2 Asset Management
  10.2.1 Market Trends
  10.2.2 Market Forecast
10.3 Customer Experience Management
  10.3.1 Market Trends
  10.3.2 Market Forecast
10.4 Advertising and Marketing
  10.4.1 Market Trends
  10.4.2 Market Forecast

11 MARKET BREAKUP BY REGION

11.1 North America
  11.1.1 United States
    11.1.1.1 Market Trends
    11.1.1.2 Market Forecast
  11.1.2 Canada
    11.1.2.1 Market Trends
    11.1.2.2 Market Forecast
11.2 Asia-Pacific
  11.2.1 China
    11.2.1.1 Market Trends
    11.2.1.2 Market Forecast
  11.2.2 Japan
    11.2.2.1 Market Trends
    11.2.2.2 Market Forecast
  11.2.3 India
    11.2.3.1 Market Trends
    11.2.3.2 Market Forecast
  11.2.4 South Korea
    11.2.4.1 Market Trends
    11.2.4.2 Market Forecast
  11.2.5 Australia
    11.2.5.1 Market Trends
    11.2.5.2 Market Forecast
  11.2.6 Indonesia
    11.2.6.1 Market Trends
    11.2.6.2 Market Forecast
  11.2.7 Others
    11.2.7.1 Market Trends
    11.2.7.2 Market Forecast
11.3 Europe
  11.3.1 Germany
    11.3.1.1 Market Trends
    11.3.1.2 Market Forecast
  11.3.2 France
    11.3.2.1 Market Trends
    11.3.2.2 Market Forecast
  11.3.3 United Kingdom
    11.3.3.1 Market Trends
    11.3.3.2 Market Forecast
  11.3.4 Italy
    11.3.4.1 Market Trends
    11.3.4.2 Market Forecast
  11.3.5 Spain
    11.3.5.1 Market Trends
    11.3.5.2 Market Forecast
  11.3.6 Russia
    11.3.6.1 Market Trends
    11.3.6.2 Market Forecast
  11.3.7 Others
    11.3.7.1 Market Trends
    11.3.7.2 Market Forecast
11.4 Latin America
  11.4.1 Brazil
    11.4.1.1 Market Trends
    11.4.1.2 Market Forecast
  11.4.2 Mexico
    11.4.2.1 Market Trends
    11.4.2.2 Market Forecast
  11.4.3 Others
    11.4.3.1 Market Trends
    11.4.3.2 Market Forecast
11.5 Middle East and Africa
  11.5.1 Market Trends
  11.5.2 Market Breakup by Country
  11.5.3 Market Forecast

12 SWOT ANALYSIS

12.1 Overview
12.2 Strengths
12.3 Weaknesses
12.4 Opportunities
12.5 Threats

13 VALUE CHAIN ANALYSIS

14 PORTERS FIVE FORCES ANALYSIS

14.1 Overview
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes

15 PRICE ANALYSIS

16 COMPETITIVE LANDSCAPE

16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
  16.3.1 Allerin Tech Pvt Ltd
    16.3.1.1 Company Overview
    16.3.1.2 Product Portfolio
  16.3.2 Amazon.com Inc.
    16.3.2.1 Company Overview
    16.3.2.2 Product Portfolio
    16.3.2.3 Financials
    16.3.2.4 SWOT Analysis
  16.3.3 Bosch.IO GmbH
    16.3.3.1 Company Overview
    16.3.3.2 Product Portfolio
  16.3.4 Cisco Systems Inc.
    16.3.4.1 Company Overview
    16.3.4.2 Product Portfolio
    16.3.4.3 Financials
    16.3.4.4 SWOT Analysis
  16.3.5 Huawei Technologies Co. Ltd.
    16.3.5.1 Company Overview
    16.3.5.2 Product Portfolio
    16.3.5.3 SWOT Analysis
  16.3.6 Intel Corporation
    16.3.6.1 Company Overview
    16.3.6.2 Product Portfolio
    16.3.6.3 Financials
    16.3.6.4 SWOT Analysis
  16.3.7 International Business Machines Corporation
    16.3.7.1 Company Overview
    16.3.7.2 Product Portfolio
    16.3.7.3 Financials
    16.3.7.4 SWOT Analysis
  16.3.8 Microsoft Corporation
    16.3.8.1 Company Overview
    16.3.8.2 Product Portfolio
    16.3.8.3 Financials
    16.3.8.4 SWOT Analysis
  16.3.9 NEC Corporation (AT&T Corporation)
    16.3.9.1 Company Overview
    16.3.9.2 Product Portfolio
    16.3.9.3 Financials
    16.3.9.4 SWOT Analysis
  16.3.10 Oracle Corporation
    16.3.10.1 Company Overview
    16.3.10.2 Product Portfolio
    16.3.10.3 Financials
    16.3.10.4 SWOT Analysis
  16.3.11 Software AG
    16.3.11.1 Company Overview
    16.3.11.2 Product Portfolio
    16.3.11.3 Financials
  16.3.12 Telit
    16.3.12.1 Company Overview
    16.3.12.2 Product Portfolio
    16.3.12.3 Financials
  16.3.13 Vodafone Group Plc
    16.3.13.1 Company Overview
    16.3.13.2 Product Portfolio
    16.3.13.3 Financials
    16.3.13.4 SWOT Analysis

LIST OF TABLES

Table 1: Global: Internet of Things in Retail Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Internet of Things in Retail Market Forecast: Breakup by Solution (in Million US$), 2024-2032
Table 3: Global: Internet of Things in Retail Market Forecast: Breakup by Service (in Million US$), 2024-2032
Table 4: Global: Internet of Things in Retail Market Forecast: Breakup by Technology (in Million US$), 2024-2032
Table 5: Global: Internet of Things in Retail Market Forecast: Breakup by Platform (in Million US$), 2024-2032
Table 6: Global: Internet of Things in Retail Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 7: Global: Internet of Things in Retail Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 8: Global: Internet of Things in Retail Market: Competitive Structure
Table 9: Global: Internet of Things in Retail Market: Key Players

LIST OF FIGURES

Figure 1: Global: Internet of Things in Retail Market: Major Drivers and Challenges
Figure 2: Global: Internet of Things in Retail Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Internet of Things in Retail Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: Internet of Things in Retail Market: Breakup by Solution (in %), 2023
Figure 5: Global: Internet of Things in Retail Market: Breakup by Service (in %), 2023
Figure 6: Global: Internet of Things in Retail Market: Breakup by Technology (in %), 2023
Figure 7: Global: Internet of Things in Retail Market: Breakup by Platform (in %), 2023
Figure 8: Global: Internet of Things in Retail Market: Breakup by Application (in %), 2023
Figure 9: Global: Internet of Things in Retail Market: Breakup by Region (in %), 2023
Figure 10: Global: Internet of Things in Retail (Hardware) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: Internet of Things in Retail (Hardware) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: Internet of Things in Retail (Software) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Internet of Things in Retail (Software) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Internet of Things in Retail (Professional Services) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Internet of Things in Retail (Professional Services) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Internet of Things in Retail (Managed Services) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Internet of Things in Retail (Managed Services) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Internet of Things in Retail (Near Field Communication) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Internet of Things in Retail (Near Field Communication) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Internet of Things in Retail (Bluetooth Low Energy) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Internet of Things in Retail (Bluetooth Low Energy) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Internet of Things in Retail (ZigBee) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Internet of Things in Retail (ZigBee) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Internet of Things in Retail (Other Technologies) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Internet of Things in Retail (Other Technologies) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Global: Internet of Things in Retail (Device Management) Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Global: Internet of Things in Retail (Device Management) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: Global: Internet of Things in Retail (Application Management) Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: Global: Internet of Things in Retail (Application Management) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Global: Internet of Things in Retail (Connectivity Management) Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Global: Internet of Things in Retail (Connectivity Management) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: Global: Internet of Things in Retail (Operations Management) Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: Global: Internet of Things in Retail (Operations Management) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: Global: Internet of Things in Retail (Asset Management) Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: Global: Internet of Things in Retail (Asset Management) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Global: Internet of Things in Retail (Customer Experience Management) Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Global: Internet of Things in Retail (Customer Experience Management) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: Global: Internet of Things in Retail (Advertising and Marketing) Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: Global: Internet of Things in Retail (Advertising and Marketing) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: North America: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: North America: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: United States: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: United States: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: Canada: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: Canada: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: Asia-Pacific: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: Asia-Pacific: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: China: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: China: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Japan: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Japan: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: India: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: India: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: South Korea: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: South Korea: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: Australia: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: Australia: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: Indonesia: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: Indonesia: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: Others: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: Others: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: Europe: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: Europe: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: Germany: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 65: Germany: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 66: France: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 67: France: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 68: United Kingdom: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 69: United Kingdom: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: Italy: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 71: Italy: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 72: Spain: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 73: Spain: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 74: Russia: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 75: Russia: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 76: Others: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 77: Others: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 78: Latin America: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 79: Latin America: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 80: Brazil: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 81: Brazil: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 82: Mexico: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 83: Mexico: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 84: Others: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 85: Others: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 86: Middle East and Africa: Internet of Things in Retail Market: Sales Value (in Million US$), 2018 & 2023
Figure 87: Middle East and Africa: Internet of Things in Retail Market: Breakup by Country (in %), 2023
Figure 88: Middle East and Africa: Internet of Things in Retail Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 89: Global: Internet of Things in Retail Industry: SWOT Analysis
Figure 90: Global: Internet of Things in Retail Industry: Value Chain Analysis
Figure 91: Global: Internet of Things in Retail Industry: Porter's Five Forces Analysis


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