Internet of Things in Retail Market was valued at USD 25 Billion in 2022 and is projected to reach USD 75 Billion by 2030, growing at a CAGR of 18% from 2024 to 2030.
The Internet of Things (IoT) in retail market was valued at approximately USD 24.5 billion in 2022. The market is projected to experience significant growth, with a Compound Annual Growth Rate (CAGR) of 22.5% from 2023 to 2030. This rapid expansion is driven by the increasing adoption of IoT technologies such as smart shelves, beacons, and RFID tags, which enhance inventory management, customer experience, and operational efficiency. The integration of IoT solutions allows retailers to gather real-time data, streamline operations, and offer personalized services, contributing to the market’s robust growth.
Opportunities in the IoT retail sector are broad, spanning from advanced analytics and automation to improved supply chain visibility and customer engagement strategies. Emerging markets are showing substantial potential due to increasing investments in digital infrastructure and growing consumer expectations for seamless, connected experiences. As retail businesses continue to explore IoT innovations to maintain a competitive edge and address evolving consumer demands, the market is expected to attract significant investments and witness continued expansion over the coming years.
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IBM Corporation
Impinj
Allerin Tech Pvt
RetailNext
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Internet of Things in Retail Market
Physical Business
E-commerce
Based on Types the Market is categorized into Below types that held the largest Internet of Things in Retail market share In 2023.
Beacons
RFID Tags
Sensors
Wearables
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Internet of Things in Retail Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Internet of Things in Retail Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Internet of Things in Retail Market, By Type
6. Global Internet of Things in Retail Market, By Application
7. Global Internet of Things in Retail Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Internet of Things in Retail Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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