What is IoT in Retail?

The IoT in Retail market refers to the integration of Internet of Things (IoT) technologies to optimize retail operations, enhance customer experiences, and improve supply chain efficiency. By connecting physical assets like products, shelves, and store equipment to digital networks, retailers can collect real-time data to make informed decisions, streamline operations, and offer personalized shopping experiences. This includes applications such as smart shelves, location tracking, and inventory management.

The IoT in Retail market is poised to disrupt traditional retail models by enabling new business opportunities, such as dynamic pricing and personalized marketing, through real-time data. It provides easy scalability for retailers of all sizes to integrate IoT systems, ensuring operational efficiency. These solutions also safeguard retailers’ bottom lines by improving inventory management and reducing losses. The market offers big opportunities, particularly in the context of enhancing customer experiences and optimizing supply chains.

Market Size:

IoT in Retail Market was valued at USD 50.01 billion in 2024 and is projected to reach a market size of USD 149.36 billion by 2030 at a CAGR of 20%.

Key Companies:

•    Vodafone Idea Limited
•    Google LLC
•    IBM Corporation
•    Microsoft Corporation
•    Software AG
•    AT&T Intellectual Property
•    NEC Corporation
•    Intel Corporation
•    Oracle Corporation
•    Happiest Minds
•    Huawei Technologies Co. Ltd.
•    SAP SE
•    Cisco Systems, Inc.
•    Bosch.IO GmbH
•    Amazon Web Services (AWS)
•    PTC

Case Study:

Amazon’s use of IoT in its checkout-free Amazon Go stores has revolutionized the retail experience. With sensors and computer vision, customers can walk in, grab products, and leave, while the system automatically charges them. This seamless experience significantly improves customer satisfaction and operational efficiency.

Popularity & Key Statistics:

•    Over 50% of retailers are expected to adopt IoT solutions by 2025.
•    65% of retail organizations cite IoT as a key enabler for better inventory management.
•    IoT-driven analytics are expected to reduce operational costs in retail by 25% by 2030.

Market Segmentation:

By Type

•    Hardware
o    Sensors
o    Beacons
o    Smart Shelves
o    Point of Sale (POS) Devices
o    RFID Tags
o    Cameras and Surveillance Systems

•    Software
o    Analytics and Reporting Software
o    Supply Chain Management Software
o    Customer Experience Management Software
o    Inventory Management Software
o    Security Software
o    IoT Platform Software

•    Services
o    Consulting Services
o    System Integration
o    Deployment & Support Services
o    Managed Services

By End User

•    Supermarkets and Hypermarkets
o    Smart Inventory Management
o    Personalized Customer Experience
o    Supply Chain Optimization

•    Specialty Stores
o    Smart Fitting Rooms
o    RFID-based Product Tracking
o    In-store Experience Enhancements

•    Convenience Stores
o    Smart Shelving
o    Real-time Inventory Tracking
o    Energy Management Solutions

•    E-commerce
o    Order Fulfillment Optimization
o    Smart Logistics
o    Customer Behavior Analytics

•    Department Stores
o    Personalized Marketing
o    In-store Navigation Systems
o    Customer Service Automation

•    Automated Vending Machines
o    IoT-Enabled Vending
o    Remote Monitoring
o    Customer Interaction Solutions

•    Fashion and Apparel
o    Smart Fitting Rooms
o    Inventory and Supply Chain Management
o    Personalized Recommendations

What’s in It for You?

•    Discover high-growth areas where IoT is reshaping retail operations.
•    Learn how leading companies are using IoT to improve supply chain visibility and reduce stockouts.
•    Gain insights into the IoT infrastructure trends and vendor partnerships.
•    Identify key investment opportunities in IoT technology and platforms for retail transformation.