Internet of Things (IoT) in Retail Market Share Report 2033

Vishal Gupta23 May, 2025Technology

The global internet of things (IoT) in retail market size reached USD 67.9 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 246.4 Billion by 2033, exhibiting a growth rate (CAGR) of 15.41% during 2025-2033. The Internet of things (IoT) is a data network comprising devices that connect to the Internet and exchange data without requiring human-to-machine interaction. It finds extensive applications in the retail sector as IoT helps link the physical and digital world by allowing bidirectional real-time interaction with consumers inside and outside the store. It offers functional advantages, such as dynamic pricing, inventory tracking, monitoring, and personalized recommendations. Besides this, it also allows retailers to track customer movement and acquire insights about their shopping behavior.