Global Internet of Things (IoT) Market in Retail Size and Forecast by Component Type, Connectivity Technology, Application, Retail Format and Region: 2019-2034

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Industry Findings: Retailers continue deploying connected infrastructure to improve inventory visibility, reduce shrinkage, and optimize in-store customer engagement across physical and omnichannel environments. IoT-enabled shelves, smart checkout systems, asset tracking platforms, and connected refrigeration systems increasingly support operational efficiency as retailers face rising labor costs and growing demand for real-time inventory accuracy. Consumer preference for faster fulfillment and frictionless shopping experiences also continues reshaping store modernization strategies globally. In 2025, implementation activity linked to the European Union Digital Product Passport framework continued expanding across retail-linked supply chains, increasing pressure on retailers and manufacturers to improve product traceability and lifecycle transparency. As per our findings, these requirements are accelerating adoption of connected tracking infrastructure, smart labeling technologies, and real-time retail analytics platforms.

Industry Player Insights: Zebra Technologies, Honeywell International, Intel Corporation, Cisco Systems, and Samsung Electronics operate prominently across the Global Internet of Things (IoT) Market in Retail. Zebra Technologies expanded intelligent retail automation capabilities during 2024 through additional AI-supported inventory visibility and asset tracking solutions designed for large-scale omnichannel retail operations. Separately, Honeywell strengthened connected retail infrastructure offerings during 2024 with upgraded warehouse automation and smart sensing technologies supporting fulfillment efficiency and inventory management. Competitive activity increasingly focuses on real-time operational intelligence, supply chain visibility, and frictionless store automation capabilities as retailers modernize connected commerce environments.