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Global Internet of Things (IoT) in Retail Market was valued US$ 15.10 Bn in 2017, and is expected to reach US$ 40 Bn in 2026, at CAGR of 12.95% during forecast period.
Deployment of Internet of Things (IoT) through retail sector is expected to boost innovation in stores, improves overall experience, and deliver offers and promotions based on browsing and purchase history.
Increasing penetration across applications like, digital signage, payment, and supply chain management is contributing in growth of industry. Ongoing evolutions in retail like, Omni channel shopping and rapid smartphone adoption rate are enabling retailers to create a brick-and-mortar shopping experience. Smart retailers are engaging with the right technology and making stores more interactive. Smartphones and tablets enabled with Bluetooth Low Energy (BLE) are used for product promotions, thereby encouraging social sharing.
Software market in IoT in retail is expected to flourish in the coming years owing to the increasing usage of mobile applications. So the, companies are increasingly investing in managed IT services due to rising growing retail industry thereby propelling the market.

Increasing penetration of e-commerce platforms has forced traditional retailers to become capable of using connected technologies. Implementation of IoT in retail stores has allowed retailers to determine customers’ profiles and their buying history by coordinating with wearable devices. Production of connected devices and the adoption of collective standards are contributing to the growth of IoT-enabled capabilities across the retail industry.

European region contributed to global industry and started growing significantly in 2016. Increasing adoption of beacons in economies such as France and U.K. are contributing to regional growth. For instance, Les Terrasses du Port, a prominent shopping center in France, has deployed one of the largest networks of BLE beacons in the region, allowing retailers such as H&M and Zara to deliver promotional offers and information to customers’ smartphones. Moreover, regional beacon manufactures are providing content management systems used by retailers to deliver offers and mobile apps for enhancing their efficiency.

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