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Global Internet Of Things In Retail Market Size, Share & Trends Analysis Report by Solution, by Hardware (Beacons, RFID Tags, Sensors, Wearables), by Service, by Technology, and Segment Forecasts, 2021-2028

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    Report

  • 117 Pages
  • June 2021
  • Region: Global
  • Grand View Research
  • ID: 4582069
Description Jump to:
The global internet of things in retail market size is expected to reach USD 182.04 billion by 2028, registering a CAGR of 26.0% over the forecast period. The growth can be attributed to the adoption of connected technologies by retailers against e-commerce sites. The reducing cost of hardware and IoT sensors, demand for a seamless shopping experience, and growing acceptance of smart payment are the factors expected to further fuel the growth of the internet of things (IoT) in retail market.

The tectonic shift in optimizing retail operations is triggering IoT adoption. Retailers are experimenting with IoT, which allows them to determine the purchase history and customer’s profile by synchronizing with wearable devices. The adoption of common standards and the proliferation of connected devices are augmenting the growth of IoT-enabled capabilities across the retail industry. Moreover, the technology provides endless capabilities and improvements in the retail sector and enables retailers to explore customer behavior, optimize productivity, and create new business models.

IoT devices also help in the back-end operations of retailers, such as planning effective logistics operations. The IoT-connected sensors, GPS trackers, and RFID tags track the movement of goods in real-time, providing seamless supply chain management. This also prevents spoilage, damage, or loss of goods during transportation, mainly beneficial for perishable food items. The real-time information of weather, traffic conditions, and speed of vehicles enable intelligent logistics operation. Moreover, factors such as effective inventory management, reduced human errors, minimized overstocking and shortage of products, and control over storage conditions are driving the demand for IoT devices in retail warehousing.

IoT offers retailers an opportunity to develop an improved ecosystem that connects the digital and physical worlds. Retailers are utilizing the advantage of the wide range of connected products by adopting an integration platform. Moreover, smart devices reduce the buying time of customers and provide a seamless shopping experience. Retailers are slowly evolving to explore advanced ways to connect with smart devices such as smartphones and smartwatches for enhancing the in-store experience.

Europe is the third-largest adopter of IoT, followed by North America and the Asia Pacific. Germany, the U.K., France, and Italy are at the forefront of the adoption of advanced retail technologies. The presence of multinational retail brands such as H&M and ZARA has further fueled the demand for IoT solutions in retail stores. These companies are investing in digital technologies to meet the continuously changing customer demand. Recently, H&M announced that the RFID technology would be implemented in more stores in the coming years. The company has already implemented the Azure IoT platform in its flagship stores.

Internet Of Things In Retail Market Report Highlights

  • The software segment is expected to register the fastest CAGR of over 27% from 2021 to 2028. The growing emphasis on analytics software such as video analytics is expected to propel the growth of the segment
  • Beacons are gaining significant traction owing to their high adoption by retailers to increase customer engagement, thereby increasing loyalty and sales. As a result, the beacons segment is projected to register a strong growth rate over the forecast period
  • The growing demand for Payment as a Service (PaaS) and cloud-based solutions for POS terminals is expected to provide high growth opportunities for managed services
  • Due to the growing importance of omnichannel retailing to survive the intense competition, several retailers from the Asia Pacific region are focusing on strengthening and adding value to their digital platforms to serve the needs of local customers


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Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation and Scope
1.2. Market Definitions
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. Internal database
1.3.3. Secondary sources & third party perspective
1.3.4. Primary research
1.4. Information Analysis
1.4.1. Data analysis models
1.5. Market Formulation and Data Visualization
1.6. Data Validation and Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
Chapter 3. Industry Outlook
3.1. Market Size and Growth Prospects, 2017 - 2028
3.2. Value Chain Analysis
3.2.1. Vendor landscape
3.3. Market Dynamics
3.3.1. Market driver analysis
3.3.1.1. Need for enhanced customer experience
3.3.1.2. Decline in component cost
3.3.2. Market restraint/challenge analysis
3.3.2.1. Fragmented technology standards
3.3.2.2. Privacy and security concerns
3.4. Penetration and Growth Prospect Mapping
3.5. Business Environment Analysis Tools
3.5.1. Porter’s five forces analysis
3.5.2. PEST analysis
Chapter 4. Solution Estimates & Trend Analysis
4.1. Market Size Estimates & Forecasts and Trend Analysis, 2017 - 2028
4.2. Solution Movement Analysis & Market Share, 2020 & 2028
4.3. Hardware
4.3.1. Market size estimates and forecasts, 2017 - 2028 (USD Billion)
4.4. Software
4.4.1. Market size estimates & forecasts, 2017 - 2028 (USD Billion)
Chapter 5. Service Estimates & Trend Analysis
5.1. Market Size Estimates & Forecasts and Trend Analysis, 2017 - 2028
5.2. Service Movement Analysis & Market Share, 2020 & 2028
5.3. Professional Services
5.3.1. Market size estimates and forecasts, 2017 - 2028 (USD Billion)
5.4. Managed Services
5.4.1. Market size estimates and forecasts, 2017 - 2028 (USD Billion)
Chapter 6. Technology Estimates & Trend Analysis
6.1. Market Size Estimates & Forecasts and Trend Analysis, 2017 - 2028
6.2. Technology Movement Analysis & Market Share, 2020 & 2028
6.3. Bluetooth low energy
6.3.1. Market size estimates and forecasts, 2017 - 2028 (USD Billion)
6.4. Near field communication
6.4.1. Market size estimates and forecasts, 2017 - 2028 (USD Billion)
6.5. ZigBee
6.5.1. Market size estimates and forecasts, 2017 - 2028 (USD Billion)
6.6. Others
6.6.1. Market size estimates and forecasts, 2017 - 2028 (USD Billion)
Chapter 7. Regional Estimates & Trend Analysis
7.1. Market Size Estimates & Forecasts, 2017 - 2028
7.2. Regional Movement Analysis & Market Share, 2020 & 2028
7.3. North America
7.3.1. Market size estimates and forecasts by solution, 2017 - 2028 (USD Billion)
7.3.2. Market size estimates and forecasts by service, 2017 - 2028 (USD Billion)
7.3.3. Market size estimates and forecasts by technology, 2017 - 2028 (USD Billion)
7.3.4. U.S.
7.3.4.1. Market size estimates and forecasts by solution, 2017 - 2028 (USD Billion)
7.3.4.2. Market size estimates and forecasts by service, 2017 - 2028 (USD Billion)
7.3.4.3. Market size estimates and forecasts by technology, 2017 - 2028 (USD Billion)
7.3.5. Canada
7.3.5.1. Market size estimates and forecasts by solution, 2017 - 2028 (USD Billion)
7.3.5.2. Market size estimates and forecasts by service, 2017 - 2028 (USD Billion)
7.3.5.3. Market size estimates and forecasts by technology, 2017 - 2028 (USD Billion)
7.4. Europe
7.4.1. Market size estimates and forecasts by solution, 2017 - 2028 (USD Billion)
7.4.2. Market size estimates and forecasts by service, 2017 - 2028 (USD Billion)
7.4.3. Market size estimates and forecasts by technology, 2017 - 2028 (USD Billion)
7.4.4. U.K.
7.4.4.1. Market size estimates and forecasts by solution, 2017 - 2028 (USD Billion)
7.4.4.2. Market size estimates and forecasts by service, 2017 - 2028 (USD Billion)
7.4.4.3. Market size estimates and forecasts by technology, 2017 - 2028 (USD Billion)
7.4.5. Germany
7.4.5.1. Market size estimates and forecasts by solution, 2017 - 2028 (USD Billion)
7.4.5.2. Market size estimates and forecasts by service, 2017 - 2028 (USD Billion)
7.4.5.3. Market size estimates and forecasts by technology, 2017 - 2028 (USD Billion)
7.5. Asia Pacific
7.5.1. Market size estimates and forecasts by solution, 2017 - 2028 (USD Billion)
7.5.2. Market size estimates and forecasts by service, 2017 - 2028 (USD Billion)
7.5.3. Market size estimates and forecasts by technology, 2017 - 2028 (USD Billion)
7.5.4. China
7.5.4.1. Market size estimates and forecasts by solution, 2017 - 2028 (USD Billion)
7.5.4.2. Market size estimates and forecasts by service, 2017 - 2028 (USD Billion)
7.5.4.3. Market size estimates and forecasts by technology, 2017 - 2028 (USD Billion)
7.5.5. India
7.5.5.1. Market size estimates and forecasts by solution, 2017 - 2028 (USD Billion)
7.5.5.2. Market size estimates and forecasts by service, 2017 - 2028 (USD Billion)
7.5.5.3. Market size estimates and forecasts by technology, 2017 - 2028 (USD Billion)
7.5.6. Japan
7.5.6.1. Market size estimates and forecasts by solution, 2017 - 2028 (USD Billion)
7.5.6.2. Market size estimates and forecasts by service, 2017 - 2028 (USD Billion)
7.5.6.3. Market size estimates and forecasts by technology, 2017 - 2028 (USD Billion)
7.6. Latin America
7.6.1. Market size estimates and forecasts by solution, 2017 - 2028 (USD Billion)
7.6.2. Market size estimates and forecasts by service, 2017 - 2028 (USD Billion)
7.6.3. Market size estimates and forecasts by technology, 2017 - 2028 (USD Billion)
7.6.4. Brazil
7.6.4.1. Market size estimates and forecasts by solution, 2017 - 2028 (USD Billion)
7.6.4.2. Market size estimates and forecasts by service, 2017 - 2028 (USD Billion)
7.6.4.3. Market size estimates and forecasts by technology, 2017 - 2028 (USD Billion)
7.6.5. Mexico
7.6.5.1. Market size estimates and forecasts by solution, 2017 - 2028 (USD Billion)
7.6.5.2. Market size estimates and forecasts by service, 2017 - 2028 (USD Billion)
7.6.5.3. Market size estimates and forecasts by technology, 2017 - 2028 (USD Billion)
7.7. The Middle East & Africa (MEA)
7.7.1. Market size estimates and forecasts by solution, 2017 - 2028 (USD Billion)
7.7.2. Market size estimates and forecasts by service, 2017 - 2028 (USD Billion)
7.7.3. Market size estimates and forecasts by technology, 2017 - 2028 (USD Billion)
Chapter 8. Competitive Landscape
8.1. Key Global Players, Recent Developments & Their Impact on the Industry
8.2. Key Company Analysis, 2020
8.3. Key Company Categorization (Key innovators, Market leaders, Emerging players)
Chapter 9. Company Profiles
9.1. Arm Limited
9.1.1. Company overview
9.1.2. Financial performance
9.1.3. Product benchmarking
9.1.4. Recent developments
9.2. Cisco Systems Inc.
9.2.1. Company overview
9.2.2. Financial performance
9.2.3. Product benchmarking
9.2.4. Recent developments
9.3. Google LLC
9.3.1. Company overview
9.3.2. Financial performance
9.3.3. Product benchmarking
9.3.4. Recent developments
9.4. IBM Corporation
9.4.1. Company overview
9.4.2. Financial performance
9.4.3. Product benchmarking
9.4.4. Recent developments
9.5. Impinj, Inc.
9.5.1. Company overview
9.5.2. Financial performance
9.5.3. Product benchmarking
9.5.4. Recent developments
9.6. Intel Corporation
9.6.1. Company overview
9.6.2. Financial performance
9.6.3. Product benchmarking
9.6.4. Recent developments
9.7. Losant IoT
9.7.1. Company overview
9.7.2. Product benchmarking
9.7.3. Recent developments
9.8. Microsoft Corporation
9.8.1. Company overview
9.8.2. Product benchmarking
9.8.3. Recent developments
9.9. NXP Semiconductors
9.9.1. Company overview
9.9.2. Financial performance
9.9.3. Product benchmarking
9.9.4. Recent developments
9.10. PTC Inc.
9.10.1. Company overview
9.10.2. Financial performance
9.10.3. Product benchmarking
9.10.4. Recent developments
9.11. RetailNext, Inc.
9.11.1. Company overview
9.11.2. Product benchmarking
9.11.3. Recent developments
9.12. SAP SE
9.12.1. Company overview
9.12.2. Financial performance
9.12.3. Product benchmarking
9.12.4. Recent developments
9.13. Softweb Solutions Inc.
9.13.1. Company overview
9.13.2. Product benchmarking
9.13.3. Recent developments
9.14. Verizon Communications Inc.
9.14.1. Company overview
9.14.2. Financial performance
9.14.3. Product benchmarking
9.14.4. Recent developments
9.15. Zebra Technologies Corporation
9.15.1. Company overview
9.15.2. Financial performance
9.15.3. Product benchmarking
9.15.4. Recent developments
List of Tables
Table 1 Global IoT in retail market, 2017 - 2028 (USD Billion)
Table 2 Global market estimates and forecasts by region, 2017 - 2028 (USD Billion)
Table 3 Global market estimates and forecasts by solution, 2017 - 2028 (USD Billion)
Table 4 Global market estimates and forecasts by hardware, 2017 - 2028 (USD Billion)
Table 5 Global market estimates and forecasts by services, 2017 - 2028 (USD Billion)
Table 6 Global market estimates and forecasts by technology, 2017 - 2028 (USD Billion)
Table 7 Key market participants
Table 8 Recent developments in retail stores
Table 9 Global hardware market by region, 2017 - 2028 (USD Billion)
Table 10 Global software market by region, 2017 - 2028 (USD Billion)
Table 11 Global beacons market by region, 2017 - 2028 (USD Billion)
Table 12 Global RFID tags market by region, 2017 - 2028 (USD Billion)
Table 13 Global sensors market by region, 2017 - 2028 (USD Billion)
Table 14 Global wearables market by region, 2017 - 2028 (USD Billion)
Table 15 Global professional services market by region, 2017 - 2028 (USD Billion)
Table 16 Global managed services market by region, 2017 - 2028 (USD Billion)
Table 17 Global Bluetooth low energy market by region, 2017 - 2028 (USD Billion)
Table 18 Global near field communication market by region, 2017 - 2028 (USD Billion)
Table 19 Global ZigBee market by region, 2017 - 2028 (USD Billion)
Table 20 Global others market by region, 2017 - 2028 (USD Billion)
Table 21 North America IoT in retail market by solution, 2017 - 2028 (USD Billion)
Table 22 North America IoT in retail market by hardware, 2017 - 2028 (USD Billion)
Table 23 North America IoT in retail market by services, 2017 - 2028 (USD Billion)
Table 24 North America IoT in retail market by technology, 2017 - 2028 (USD Billion)
Table 25 U.S. IoT in retail market by solution, 2017 - 2028 (USD Billion)
Table 26 U.S. IoT in retail market by hardware, 2017 - 2028 (USD Billion)
Table 27 U.S. IoT in retail market by services, 2017 - 2028 (USD Billion)
Table 28 U.S. IoT in retail market by technology, 2017 - 2028 (USD Billion)
Table 29 Canada IoT in retail market by solution, 2017 - 2028 (USD Billion)
Table 30 Canada IoT in retail market by hardware, 2017 - 2028 (USD Billion)
Table 31 Canada IoT in retail market by services, 2017 - 2028 (USD Billion)
Table 32 Canada IoT in retail market by technology, 2017 - 2028 (USD Billion)
Table 33 Europe IoT in retail market by solution, 2017 - 2028 (USD Billion)
Table 34 Europe IoT in retail market by hardware, 2017 - 2028 (USD Billion)
Table 35 Europe IoT in retail market by services, 2017 - 2028 (USD Billion)
Table 36 Europe IoT in retail market by technology, 2017 - 2028 (USD Billion)
Table 37 U.K. IoT in retail market by solution, 2017 - 2028 (USD Billion)
Table 38 U.K. IoT in retail market by hardware, 2017 - 2028 (USD Billion)
Table 39 U.K. IoT in retail market by services, 2017 - 2028 (USD Billion)
Table 40 U.K. IoT in retail market by technology, 2017 - 2028 (USD Billion)
Table 41 Germany IoT in retail market by solution, 2017 - 2028 (USD Billion)
Table 42 Germany IoT in retail market by hardware, 2017 - 2028 (USD Billion)
Table 43 Germany IoT in retail market by services, 2017 - 2028 (USD Billion)
Table 44 Germany IoT in retail market by technology, 2017 - 2028 (USD Billion)
Table 45 Asia Pacific IoT in retail market by solution, 2017 - 2028 (USD Billion)
Table 46 Asia Pacific IoT in retail market by hardware, 2017 - 2028 (USD Billion)
Table 47 Asia Pacific IoT in retail market by services, 2017 - 2028 (USD Billion)
Table 48 Asia Pacific IoT in retail market by technology, 2017 - 2028 (USD Billion)
Table 49 China IoT in retail market by solution, 2017 - 2028 (USD Billion)
Table 50 China IoT in retail market by hardware, 2017 - 2028 (USD Billion)
Table 51 China IoT in retail market by services, 2017 - 2028 (USD Billion)
Table 52 China IoT in retail market by technology, 2017 - 2028 (USD Billion)
Table 53 India IoT in retail market by solution, 2017 - 2028 (USD Billion)
Table 54 India IoT in retail market by hardware, 2017 - 2028 (USD Billion)
Table 55 India IoT in retail market by services, 2017 - 2028 (USD Billion)
Table 56 India IoT in retail market by technology, 2017 - 2028 (USD Billion)
Table 57 Japan IoT in retail market by solution, 2017 - 2028 (USD Billion)
Table 58 Japan IoT in retail market by hardware, 2017 - 2028 (USD Billion)
Table 59 Japan IoT in retail market by services, 2017 - 2028 (USD Billion)
Table 60 Japan IoT in retail market by technology, 2017 - 2028 (USD Billion)
Table 61 Latin America IoT in retail market by solution, 2017 - 2028 (USD Billion)
Table 62 Latin America IoT in retail market by hardware, 2017 - 2028 (USD Billion)
Table 63 Latin America IoT in retail market by services, 2017 - 2028 (USD Billion)
Table 64 Latin America IoT in retail market by technology, 2017 - 2028 (USD Billion)
Table 65 Brazil IoT in retail market by solution, 2017 - 2028 (USD Billion)
Table 66 Brazil IoT in retail market by hardware, 2017 - 2028 (USD Billion)
Table 67 Brazil IoT in retail market by services, 2017 - 2028 (USD Billion)
Table 68 Brazil IoT in retail market by technology, 2017 - 2028 (USD Billion)
Table 69 Mexico IoT in retail market by solution, 2017 - 2028 (USD Billion)
Table 70 Mexico IoT in retail market by hardware, 2017 - 2028 (USD Billion)
Table 71 Mexico IoT in retail market by services, 2017 - 2028 (USD Billion)
Table 72 Mexico IoT in retail market by technology, 2017 - 2028 (USD Billion)
Table 73 MEA IoT in retail market by solution, 2017 - 2028 (USD Billion)
Table 74 MEA IoT in retail market by hardware, 2017 - 2028 (USD Billion)
Table 75 MEA IoT in retail market by services, 2017 - 2028 (USD Billion)
Table 76 MEA IoT in retail market by technology, 2017 - 2028 (USD Billion)
List of Figures
Fig. 1 Market snapshot
FIG. 2 Market segmentation
FIG. 3 IoT in retail market - Market size and growth prospects
FIG. 4 Advantages of AI chatbots in a retail store
FIG. 5 IoT in retail market - Value chain analysis
FIG. 6 Market dynamics
FIG. 7 IoT spend by business area
FIG. 8 Average sensor and RFID tags cost
FIG. 9 Penetration and growth prospect mapping
FIG. 10 Porter’s five forces analysis
FIG. 11 Beacon deployment by manufacturer, 2020
FIG. 12 IoT in retail market - PEST analysis
FIG. 13 IoT in retail market solution outlook key takeaways
FIG. 14 IoT in retail market: Solution movement analysis
FIG. 15 Global hardware market, 2017 - 2028 (USD Billion)
FIG. 16 Global software market, 2017 - 2028 (USD Billion)
FIG. 17 IoT in retail market hardware outlook key takeaways
FIG. 18 IoT in retail market: Hardware movement analysis
FIG. 19 Global beacons market, 2017 - 2028 (USD Billion)
FIG. 20 Global RFID tags market, 2017 - 2028 (USD Billion)
FIG. 21 Global sensors market, 2017 - 2028 (USD Billion)
FIG. 22 Global wearables market, 2017 - 2028 (USD Billion)
FIG. 23 IoT in retail market services outlook key takeaways
FIG. 24 IoT in retail market: Services movement analysis
FIG. 25 Global professional services market, 2017 - 2028 (USD Billion)
FIG. 26 Global managed services market, 2017 - 2028 (USD Billion)
FIG. 27 IoT in retail market technology outlook key takeaways
FIG. 28 IoT in retail market: Technology movement analysis
FIG. 29 Global Bluetooth low energy market, 2017 - 2028 (USD Billion)
FIG. 30 Global near field communication market, 2017 - 2028 (USD Billion)
FIG. 31 Global ZigBee market, 2017 - 2028 (USD Billion)
FIG. 32 Global others market, 2017 - 2028 (USD Billion)
FIG. 33 Regional marketplace: Key takeaways
FIG. 34 Regional outlook, 2020 & 2028
FIG. 35 Key Company Market Share Analysis, 2020

Companies Mentioned

  • Arm Limited
  • Cisco Systems Inc.
  • Google LLC
  • IBM Corporation
  • Impinj, Inc.
  • Intel Corporation
  • Losant IoT
  • Microsoft Corporation
  • NXP Semiconductors
  • PTC Inc.
  • RetailNext, Inc.
  • SAP SE
  • Softweb Solutions Inc.
  • Verizon Communications Inc.
  • Zebra Technologies Corporation

Methodology

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Table Information

Report AttributeDetails
No. of Pages117
PublishedJune 2021
Forecast Period2021 - 2028
Estimated Market Value ( USD ) in 2021 $ 36.04 billion
Forecasted Market Value ( USD ) by 2028 $ 182.04 billion
Compound Annual Growth Rate26.0%
Regions CoveredGlobal
No. of Companies Mentioned15

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