IoT in Retail Market Size, Trends, and Growth Analysis by Platform, Technology, Component, and Application
Introduction
The IoT in Retail Market is transforming the shopping experience by integrating cutting-edge technologies such as augmented reality (AR), virtual reality (VR), data analytics, and AI-powered recommendations. With retail giants like Amazon and Walmart leveraging IoT for operational efficiency and customer engagement, the market is witnessing unprecedented growth. The IoT in Retail Market size was valued at USD 10 billion in 2017 and is expected to reach USD 35 billion by 2024, growing at a CAGR of over 19% from 2018 to 2024.
Market Trends
- Smart Stores and Personalized Shopping Experiences – IoT is enabling interactive product displays, smart fitting rooms, and AI-driven recommendations.
- Automated Inventory Management – Retailers are using sensors and RFID technology to track inventory in real-time, reducing stockouts and losses.
- Data-Driven Decision Making – IoT devices help retailers analyze customer behavior, optimizing store layouts and product placement.
- Increased Adoption of Cloud Platforms – Cloud-based IoT solutions allow seamless integration of retail operations across multiple locations.
- Declining Hardware Costs – Affordable sensors and connectivity technologies are making IoT implementation more cost-effective.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭: (𝐈𝐧𝐜𝐥𝐮𝐝𝐢𝐧𝐠 𝐅𝐮𝐥𝐥 𝐓𝐎𝐂, 𝐋𝐢𝐬𝐭 𝐨𝐟 𝐓𝐚𝐛𝐥𝐞𝐬 & 𝐅𝐢𝐠𝐮𝐫𝐞𝐬, 𝐂𝐡𝐚𝐫𝐭) @
👉https://www.marketinsightsresearch.com/request/download/8/751/IoT-in-Retail-Market
Market Challenges
- Data Security & Privacy Concerns – Cybersecurity threats remain a major barrier to widespread IoT adoption.
- Lack of Knowledge & Skilled Workforce – Many retailers struggle with IoT implementation due to technical complexities.
- High Initial Implementation Costs – Upfront investments in IoT infrastructure can be substantial for small retailers.
Dominating Region
The United States leads the Market, driven by its advanced technological infrastructure and increasing demand for personalized customer experiences.
Fastest-Growing Region
Asia-Pacific (APAC) is the fastest-growing region, with countries like China and India witnessing rapid adoption due to declining hardware costs and the rise of organized retail.
𝗕𝘂𝘆 𝗡𝗼𝘄 𝗟𝗮𝘁𝗲𝘀𝘁 𝗘𝗱𝗶𝘁𝗶𝗼𝗻 𝗥𝗲𝗽𝗼𝗿𝘁
https://www.marketinsightsresearch.com/report/buy_now/8/751/IoT-in-Retail-Market
Regional Analysis
| Report Attribute | Details |
| Base Year | 2016 |
| Market Size in 2016 | USD 10 Billion |
| Forecast Period | 2018 to 2024 |
| CAGR (2018-2024) | 19% |
| 2024 Value Projection | USD 35 Billion |
| Historical Data | 2013 to 2017 |
| No. of Pages | 150 |
| Tables, Charts & Figures | 168 |
| Segments Covered | Platform, Technology, Component, and Region |
| Growth Drivers | Rising customer experience demand, cloud adoption, declining hardware costs, growing organized retail industry |
| Pitfalls & Challenges | Cybersecurity risks, lack of expertise, high initial costs |
Competitive Landscape
The IoT in Retail Market is highly competitive, with major players investing in research and development to introduce innovative IoT solutions.
Key Market Players:
- Bosch Software Innovations GmbH
- Accenture PLC
- Hewlett-Packard Enterprise
- Honeywell International, Inc
- Huawei Technologies Co., Ltd
- Microsoft Corporation
- Cisco Systems
- IBM Corporation
- Intel Corporation
- Oracle Corporation
𝗚𝗲𝘁 𝟭𝟬-𝟮𝟱% 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁 𝗼𝗻 𝗜𝗺𝗺𝗲𝗱𝗶𝗮𝘁𝗲 𝗽𝘂𝗿𝗰𝗵𝗮𝘀𝗲
https://www.marketinsightsresearch.com/request/discount/8/751/IoT-in-Retail-Market
Industry Outlook
The IoT revolution is reshaping the retail landscape, offering seamless automation, real-time analytics, and enhanced customer experiences. As more retailers embrace digital transformation, the demand for IoT in retail will continue to surge, paving the way for a more efficient and data-driven industry.
