Retail IoT Statistics 2024 – Everything You Need to Know

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Are you looking to add Retail IoT to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Retail IoT statistics of 2024.

My team and I scanned the entire web and collected all the most useful Retail IoT stats on this page. You don’t need to check any other resource on the web for any Retail IoT statistics. All are here only 🙂

How much of an impact will Retail IoT have on your day-to-day? or the day-to-day of your business? Should you invest in Retail IoT? We will answer all your Retail IoT related questions here.

Please read the page carefully and don’t miss any word. 🙂

Best Retail IoT Statistics

☰ Use “CTRL+F” to quickly find statistics. There are total 223 Retail IoT Statistics on this page 🙂

Retail IoT Benefits Statistics

  • Despite trust concerns, retailers are moving ahead to reap IoT’s benefits which 94% believe outweigh the risks and are evaluating how they can incorporate this tech into various aspects of their business. [0]
  • Of the retailers surveyed, 44% have enhanced security with IoT, and 40% expect to see benefits within two years. [0]
  • Around83% of organizationshave boosted their efficiency by introducing IoT technology.Moreover, up to94% of retailersagree that the benefits of implementing IoT are greater than the risks. [1]
  • Estimated IoTrelated benefits to public safety and crime levels due to IoT enabled processes like predictive policing, real time crime mapping, and gunshot detection 8–10% – reduction in crime incidents. [2]

Retail IoT Usage Statistics

  • the six year period between 2019 and 2025.North America, Western Europe, and China account for67% of IoT usage. [1]

Retail IoT Market Statistics

  • Hardware still accounts for 30% of the total value of IoT technology, although trends suggest its global market value is decreasing. [3]
  • With the IoT market size rapidly expanding amid an increasing need for real time data monitoring, the IoT healthcare industry is expected to grow at a CAGR of 19.9% over the next five years. [3]
  • The global internet of things in retail market size was valued at USD 31.99 billion in 2020 and is expected to expand at a compound annual growth rate of 26.0% from 2021 to 2028. [4]
  • The RFID tags segment accounted for a significant market share of over 39% in 2020. [4]
  • The professional services segment accounted for the highest market share of over 55% in 2020. [4]
  • Technology Insights near field communication segment accounted for a prominent market share of 30% in 2020. [4]
  • The global IoT in retail market size was estimated at USD 31.99 billion in 2020 and is expected to reach USD 36.04 billion in 2021. [4]
  • The global IoT in retail market is expected to grow at a compound annual growth rate of 26.0% from 2021 to 2028 to reach USD 182.04 billion by 2028. [4]
  • North America accounted for a revenue share of over 30% in 2020 in the global IoT in retail market. [4]
  • The hardware segment accounted for the highest revenue share of over 60% in 2020 in the IoT in retail market. [4]
  • The RFID tags segment accounted for a significant share of over 39% in 2020 in the IoT in retail market. [4]
  • The professional services segment accounted for the highest share of over 55% in 2020 in the IoT in retail market. [4]
  • The near field communication segment accounted for a prominent share of 30% in 2020 in the IoT in retail market. [4]
  • More importantly, U.S. ecommerce growth has regularly outpaced the total retail market over the past six years, and e commerce made up 8.1% of the total retail market in Q2 2016, up from 6.4% two years earlier. [5]
  • The global Internet of Things in retail market size is expected to grow from USD 14.5 billion in 2020 to USD 35.5 billion by 2025, at a Compound Annual Growth Rate of 19.6% during the forecast period. [6]
  • The IoT device market is on the rise and is poised to reach $1.4 trillion by 2027, according to Fortune Business Insights. [7]
  • Zion Market Research data indicates that the global IoT healthcare market value will reach $14 billion by 2024 — this is a CAGR of 12.2% between 2017 and 2024. [7]
  • Zion Market Research also estimates that the global IoT medical devices market is going to have a CAGR of 15.27% between 2019 and 2025. [7]
  • In addition, Gartner IoT survey reveals that 35 % of respondents handling IoT data plan to sell it and that the IoT data market will definitely grow in the future. [8]
  • The ICT market will grow at a compounded annual growth rate between 7% and 15%. [8]
  • When talking about IoT infrastructure market statistics, it’s worth noting that software infrastructure and applications will be 37% of overall IoT spending by 2020. [8]
  • Forbes’ IoT statistics and forecast report suggests that the IoT consumer market in North America will achieve a compounded annual growth rate of 12.25%. [8]
  • In fact, according to Awe.some’s IoT healthcare devices statistics, the market has hit a record at $33.5 billion this year alone. [8]
  • In addition, education IoT statistics also show that the market is expected to grow at a CAGR of 18.8% through 2024. [8]
  • The global retail digital transformation market was valued at $143.55 billion in 2020 and is expected to reach $388.51 billion by 2026, with an expected CAGR of 18.2% over the forecast period. [9]
  • The global smart retail technology market is expected to grow from $22.6 billion in 2021 to $68.8 billion by 2026, growing at a CAGR of 24.9% over this period. [9]
  • The smart retail technology market in North America is expected to grow from $9.4 billion in 2021 to $28.6 billion by 2026, growing at a CAGR of 25.0%. [9]
  • Meanwhile, the European smart retail technology market is set to grow from $6.9 billion in 2021 to $20.2 billion by 2026, at a CAGR of 23.9%. [9]
  • The estimated value of the IoT market for 2020 was742 billion U.S. dollars.Compare this to 2017, when the IoT market was valued at100 billion U.S. [1]
  • $16.8 billion – the estimated 2026 market value of IoT security services, arising from the need to better secure IoT. [2]
  • 24.4% – the Compound Annual Growth Rate of the smart clothing market over the period 2020 to 2027. [2]
  • 28.6% – the market share of modules and sensors, the leading IoT technology category in 2020. [2]
  • 21.3% – the 2020 market share of ongoing IoT services. [2]
  • 14.2% – the 2020 market share of connected IT and installation services. [2]
  • 11.7% – the 2020 market share of IoT application software. [2]
  • Smart clothing market to grow at a CAGR of 24.4% to reach US$ 6,418.08 million from 2020 to 2027. [2]

Retail IoT Software Statistics

  • When talking about IoT infrastructure market statistics, it’s worth noting that software infrastructure and applications will be 37% of overall IoT spending by 2020. [8]
  • 11.7% – the 2020 market share of IoT application software. [2]

Retail IoT Latest Statistics

  • The estimated value for 2020 is $742 billion. [3]
  • However, the growth of IoT statistics show that CAGR fell to 8.2% in 2020 an almost twice lower increase than the forecasted 14.9% at the end of 2019. [3]
  • Things are expected to return to normal in 2021, with a CAGR of 11.3% during the 2020. [3]
  • According to current statistics on IoT devices, the number will surpass 3.5 billion by 2024, with Asia leading the charge. [3]
  • The numbers will reach 73.1 ZB by 2025, which equals 422% of the 2019 output, when 17.3 ZB of data was produced. [3]
  • 86% of healthcare organizations were using IoT technology in some way in 2019. [3]
  • According to the most recent IoT healthcare devices statistics, the CAGR of IoT in the healthcare industry is estimated to be 28.6% during 2021. [3]
  • There was a 45% decrease in patient falls, a 60% reduction in bedsores, and an 80% decrease in code blue events. [3]
  • From $91 million in 2016, annual global spending on security measures for IoT networks is set to jump to $631 million in 2021, with a CAGR of 21.38%. [3]
  • Due to discontinued support for Windows 7, 56% more devices are more vulnerable to cyberattacks and malware compared to 2018. [3]
  • According to IoT based attacks statistics for 2019, the average IoT device gets attacked just five minutes after it goes live. [3]
  • According to IoT statistics and challenges forecast for this industry, the most successfully used router password among cyber attackers in 2018 was “123456.”. [3]
  • Coming in second place was another perilous choice – no password at all – which accounted for 17% of all IoT attacks. [3]
  • According to Forbes, the number of malware incidents involving IoT devices has grown from 813 million in 2018 to a staggering 2.9 billion already the following year. [3]
  • These IoT statistics involving 1,600 consumers across eight countries show that 92% of participants want to control the type of automatically collected personal information. [3]
  • At least 58% of companies in the retail sector have a number of active IoT projects. [3]
  • 57% of retailers are already taking steps to increase privacy measures, and 43% are focusing on preventing data breach events. [3]
  • IoT brand statistics show that around 34% of brands hope to see the whole industry implement IoT solutions, which would bring an increase in industry growth over the next decade. [3]
  • However, 41% chose not to increase IoT related spending during 2020. [3]
  • Frontier Economic’s IoT forecast predicts that over the next 30 years, IoT technology will result in a 10% increase in the United States’ GDP. [3]
  • If we choose to be optimistic about these metrics, we’ll see that around 40% of the technology’s global value will be accrued in the developing economies. [3]
  • The US is leading the way in deploying full scale IoT operations, with 44% of companies now adopting the technology. [3]
  • The US is followed by the UK, with 41% of companies having deployed IoT technology, and Germany, with 35%. [3]
  • According to Vernon Turner, vice president of IDC, there will be more than 80 billion devices connected to the internet by 2025. [3]
  • IoT statistics show that the growth is expected at a CAGR of 26.2%. [3]
  • Around 41% of users wouldn’t mind their health data being used to help research the link between heart conditions and exercise. [3]
  • However, if a brief look at IoT devices statistics shows us that only 0.06% of devices that could be connected to the internet currently are. [3]
  • IoT forecasts show that 67% of these devices will be found in China, North America, and Western Europe. [3]
  • According to Statista, 2021 will see 10.07 billion IoT. [3]
  • It’s estimated that the number of active IoT devices will surpass 25.4 billion in 2030. [3]
  • The last available data show that the price shrank an additional 37% to $0.38 in 2020. [3]
  • Available to download in PNG, PDF, XLS format 33% off until Jun 30th. [10]
  • The hardware segment accounted for the highest revenue share of over 60% in 2020. [4]
  • Regional Insights North America accounted for a revenue share of over 30% in 2020. [4]
  • The retail sector has a high percentage of companies with active projects 58%, compared with 48% of all the respondents in our IoT survey. [0]
  • Another 30% of the retailers have IoT projects in a research or development phase. [0]
  • A majority of retailers (57%) are taking steps to address privacy for both consumers and employees, including by designing security and privacy into IoT products (47%) and taking measures to prevent data breaches (43%). [0]
  • In fact, 42% of the retailers are improving decision making with IoT and analytics, and 50% expect to do so within two years. [0]
  • Almost half (49%). [0]
  • Of the retailers surveyed, 47% have already improved the customer experience with IoT, and 43% expect to do so. [0]
  • IoT has improved facility and energy management for 50% of the retailers surveyed, and an additional 41% expect to see improvements in the next two years. [0]
  • Nearly half (46%). [0]
  • In fact, 70% of hospitality executives report that they have active IoT projects far ahead of the average (48%). [0]
  • The majority of those in our IoT survey approximately 71% of industrial manufacturing executives confirm they are either building or testing IoT. [0]
  • 50% of Consumers Expect to Buy Online and Be Able Pick Up. [11]
  • Companies with omnichannel customer engagement strategies retain on average 89% of their customers, compared to 33% for companies with weak omnichannel customer engagement. [11]
  • A whopping 56% of your clientele fails to become returning customers if you don’t have an omnichannel strategy implemented. [11]
  • 71% of instore shoppers who use smartphones for research say their device has become more important to their in store experience . [11]
  • 70% of internet users buy clothing and footwear online, making clothing and footwear the most purchased item online. [11]
  • 50% of retailers say their international sales have increased in a share of revenue since the last year. [11]
  • If you’re in the 50% whose sales aren’t coming from other countries, this should give you pause. [11]
  • 58% of the time spent in the store during an in store pick up is actually spent at the checkout desk. [11]
  • The opportunity cost of not being omnichannel is 10% in lost revenue. [11]
  • According to a survey conducted by Retail Systems Research in June 2013, around 84% of the retailers polled worldwide believed that creating a consistent customer experience across channels was very important. [11]
  • According to a 2015 study by IDC , shoppers that buy on multiple channels have a 30% higher lifetime value than those who shop using only one channel . [11]
  • Forrester Research has predicted that US online retail will exceed $325 billion in sales in 2015, with web influenced in store sales totaling more than $1.4 trillion. [11]
  • Ecommerce sales in the U.S. eclipsed $97 billion during the second quarter of 2016, which marked almost nearly 16% yearover year growth, according to the U.S. Department of Commerce. [5]
  • Global e commerce transactions totaled $1.058 trillion in 2012, according to Statista. [5]
  • 80% of fortune 2000 companies rely on our research to identify new revenue sources. [6]
  • The global IoT in Retail Market size to grow from USD 14.5 billion in 2020 to USD 35.5 billion by 2025, at a Compound Annual Growth Rate of 19.6% during the forecast period. [6]
  • This compound annual growth rate of 10.53%, which is estimated to occur between 2021 and 2026, is lower than previous estimates due to the impact of COVID 19 on IoT investments and deployments globally. [7]
  • During the forecast period, that equates to a CAGR of 24.9%. [7]
  • 4 — 83 Billion Connections Estimated by 2024 Juniper Research reports that the “total number of IoT connections” will likely reach 83 billion by 2024. [7]
  • This is according to their IoT ~ The Internet of Transformation 2020 whitepaper. [7]
  • — 45% of Cellular IoT Connections Will Be NBIoT and CAT. [7]
  • — OpenSource Part of IoT Deployments for 60% of Survey Respondents Data from the first annual IoT Commercial Adoption survey by the Eclipse Foundation shows that almost two thirds of companies plan to make open source part of their IoT deployment plans. [7]
  • 7 — IoT Device Generated Data Predicted to Reach 73.1 ZB by 2025. [7]
  • And in case you didn’t know, a zettabyte is the equivalent of 1,000,000,000,000,000,000,000 bytes, according to Technopedia. [7]
  • IoT Signals report indicates that oneinthree decision makers plan to up their IoT investments while 41% say their existing investments will remain the same. [7]
  • — Just Under 40% of Companies Are Deploying IoT. [7]
  • 10 — 58% of financial executives report having well. [7]
  • The data shows that “close to six in 10 executivesin the financial services sector, 58%, report having well. [7]
  • The financial services industry is followed closely by thehealthcare industry with 55% of survey respondents reporting having “fairlyrobust deployments in place.”. [7]
  • 92% of EMEA CXOs Believe IoT to Have the Greatest Impact on Their Organizationsn. [7]
  • is a top strategic objective 94% of executives. [7]
  • This is compared to 45% and 72% of American and APAC CXOs, respectively. [7]
  • 12 — 72% View IoT as Having Biggest Organizational Impact. [7]
  • This is followed by AI (68%) and cloud infrastructure (64%). [7]
  • Gartner reports that almost two thirds of enterprises — 63% — expect to achieve financial payback within three years of their Internet of Things projects. [7]
  • 15 — 93% of Executives View IoT as More Beneficial Than Risky. [7]
  • Let’s do the math When you multiply 152,200 by 525,600 , the total is staggering. [7]
  • 17 — Fewer than 42% of Organizations Can Identify Insecure IoT Devices. [7]
  • And to make matters worse, when they do identify those devices, only 14% step up to replace them immediately. [7]
  • That’s the average amount of time that it takes for an IoT device to be attacked once connected to the Internet, according to NETSCOUT’s Threat Intelligence Report from the second half of 2018. [7]
  • Nearly 90% of Risk Pros Think IoT Leaves Them at Risk of Cyber Attacks. [7]
  • The Ponemon Institute and Shared Assessments survey indicates that ninein 10 surveyed risk professionals believe that cyber attacks and data breaches of their organizations are likely within the next two years due to unsecure IoT and applications. [7]
  • SonicWall reports that IoT malware attacks jumped 215.7% to 32.7 million in 2018. [7]
  • In 2019, the attacks continued but showed a more moderate increase of “just” 5% in IoT malware, according to their 2020 SonicWall Cyber Threat Report. [7]
  • reports in their 2020 Unit 42 IoT Threat Report that “83% of medical imaging devices are running on unsupported operating systems.”. [7]
  • 23 — 98% of IoT Traffic Isn’t Encrypted. [7]
  • Palo Alto Networks also shares in that same 2020 Unit 42 IoT Threat Report that “98% of all IoT device traffic is unencrypted, exposing personal and confidential data on the network.”. [7]
  • 25 — 74% of Global Consumers Worry About Losing Their Civil Rights Data from the EIU survey suggests that the majority of surveyed consumers are concerned that “small privacy invasions may eventually lead to a loss of civil rights.”. [7]
  • 63% of Consumers Find Connected Devices “Creepy” Concerning Data Collection. [7]
  • Furthermore, only 55% require remediation of any identified third. [7]
  • Even now, IoT data monetization statistics from Cisco, boldly claim that less than 1% of unstructured data is analyzed or used at all. [8]
  • Around 40.2% of overall IoT connected devices will be employed in factories, where real time analytics will enable a more efficient manufacturing process. [8]
  • Smart speakers, the most popular iot devices, have already found their way in 31% of US households as of 2019. [8]
  • In fact, through data monitoring, IoT can greatly reduce costs, and increase profits by about 10%. [8]
  • In fact, Ericsson’s study adds that the number of mobile IoT connections is growing at a rate of 30% annually. [8]
  • Smart cities is followed by the connected industry at 17%, and connected building at 12% of projects. [8]
  • It’s interesting to note that 45% of smart city projects are located in Europe. [8]
  • It’s also worth mentioning that spending on transportation related IoT applications is predicted to increase from $75 billion in 2017 to $140 billion in 2024, thus achieving a compounded annual growth rate of 10.9% CAGR. [8]
  • Industrial Internet will attain a CAGR of 7.3%, and with a high growth rate like that, this may be the best time for Internet of Things investment opportunities. [8]
  • In addition, Forbes’ IoT company statistics reveal that 58% of surveyed manufacturers say that industrial IoT is essential for attaining greater digital transformation. [8]
  • when it comes to the impact IoT on their industry 94% of them the IoT growth will also bring an overall growth of their industry. [8]
  • However, only 30% of respondents from the aviation and aerospace industry expressed familiarity with the IoT, although aviation and aerospace would definitely benefit from it. [8]
  • When comparing to other industries, employees from aviation/aerospace and manufacturing industries are the most pessimistic, with 4% of employees believing that IoT devices will bring less revenue. [8]
  • However, it’s also important to note that 38% of respondents from manufacturing also believe that IoT will lower operating costs. [8]
  • Moreover, 42% of surveyees from the transportation sector believe that IoT will bring much lower operating costs. [8]
  • The number of Internet of Things devices in domestic use will rise with a compounded annual growth rate of 34.89%. [8]
  • The highest growth is expected for vertical specific sensors and devices from 1.64 billion units in 2017 to 3.17 billion in 2020, with a whopping compounded annual growth rate of 24.57% in just three years. [8]
  • According to statistics on IoT technology use from Forbes, Azure IoT Suite is followed by Google Cloud IT (24%), and Amazon AWS IoT (19%). [8]
  • It’s worth noting that AWS was more popular in smaller organizations (28% in smaller companies versus 9% in bigger companies). [8]
  • In addition, Google’s Cloud IoT is more likely to be adopted by employees in larger companies (37% vs. 15%). [8]
  • In addition, 25% of cities that are not involved in an IoT project plan to do so in the near future. [8]
  • In addition, there are already 26 billion IoT devices that are used in the healthcare industry, and it’s estimated that that number will rise to 75 billion by the end of 2025. [8]
  • Iot security statistics state that 84% of companies that have adopted IoT have reported some kind of security breach. [8]
  • Around 60% of them get stalled at the proof of concept stage, while only 26% of companies are satisfied with the effect IoT has had on their business. [8]
  • Reports vary, but according to Gartner’s IoT penetration statistics, there will be around 25 billion IoT devices in the entire world. [8]
  • In second place is North America, which received about 34 percent of global funding for retail technology in 2020. [9]
  • According to a recent survey by PwC, in the past 12 months, 34% of shoppers purchased an item online using a PC, 38% purchased an item online using a tablet, and 44% purchased an item online using a mobile phone. [9]
  • Over 50% of consumers surveyed said they have become more digital since the first Pulse survey. [9]
  • Smartphone purchases continue to skyrocket, with in store sales up 2 percentage points immediately after the March 2021 Pulse survey and more than doubling since 2018. [9]
  • In fact, according to the 2020 IBM US Retail Index, COVID 19 accelerated the digital shopping experience by about five years. [9]
  • Gartner predicted that there would be 100 million AR users by 2020, and that turned out to be correct. [9]
  • In 2020, the conversion rate of AR users increased by 90%. [9]
  • About 20% of smart speaker owners use them for shopping, such as ordering groceries, doing research, or tracking shipping. [9]
  • This is expected to rise to 52% over the next four years. [9]
  • By 2024, it is expected that over 70% of chatbot conversations will be handled by AI. [9]
  • In a 2019 survey, around 40% of US consumers said they used chatbots for retail interactions. [9]
  • As of 2020, around 54% of consumers interacted with artificial intelligence organizations on a daily basis. [9]
  • According to this study, the number of IoT devices surpassed 30 billion in 2020. [9]
  • The global IoT in retail is projected to reach US$4.03 billion by 2027, from US$2.02 billion in 2020, at a CAGR of 10.2% during 2021. [12]
  • Azure Cosmos DB offers 99.99% guarantees for availability, throughput, low latency, and consistency on all singleregion accounts and all multiregion accounts with relaxed consistency, and 99.999% read availability on all multi. [13]
  • It is estimated that, as of 2021, there are more than10 billion active IoT devices.However, according to some reports, there are. [1]
  • 7.7% of IoT devicesare used in security.It is expected that spending on IoT security measures will reach631 million U.S. dollarsin 2021, with a CAGR of 21.38%.In 2018, IoT devices globally experienced813 million malware incidents. [1]
  • Compromising just one router gives hackers access any unsecure device that uses it.Only48% of businessescan detect if any of their IoT devices have suffered a breach. [1]
  • 40.2% of IoT devicesare used in business and manufacturing.The. [1]
  • 8.3% of IoT devicesare used in retail.The. [1]
  • $381 billion – the estimated 2020 global IoT revenue adjusted for the effects of the pandemic. [2]
  • This is 9% lower than the original estimate before the onset of the pandemic. [2]
  • $906 billion – the estimated 2025 global IoT revenue adjusted for the effects of the pandemic. [2]
  • $200 billion – the estimated 2025 IoT global revenue wiped out by the pandemic. [2]
  • 65% – cost saving 68% – revenue generation 53% – regulatory compliance. [2]
  • Over 60% of organizations currently use IoT, with only 9% of them currently having none at all. [2]
  • Of the 21.7 billion active connected devices worldwide in 2020, 11.7 billion (54%). [2]
  • 30 billion – estimated number of IoT device connections by 2025. [2]
  • $124 billion – estimated global smart city initiative investment in 2020. [2]
  • $189.5 billion – estimated global smart city initiative investment in 2020. [2]
  • 5.7 billion – estimated number of IoT devices that will use cellular networks by 2026. [2]
  • The following are the highlight findings 98% of all IoT device traffic is unencrypted , exposing personal and confidential data on the network. [2]
  • Broken down, these IoT security threats come in the form of 41% – exploits in the form of 14% – network scan. [2]
  • 5% – remote code execution 5% – command execution. [2]
  • 5% – others 4% – SQL injection 3% – zero. [2]
  • 33% – malware in the form of 12% – worm 8% – ransomware 7% – backdoor trojan 6% – botnet 26% – user practice in the form of 13% – password 8% – phishing 5% – cryptojacking. [2]
  • For the desktop environments, the following shows their absence and degree of support 83% – no support, including 56% – Win7 11% – WinXP 7% – Embedded 4% – Linux 3% – Unix 2% – Win 17% – active support, including 11% – Win10. [2]
  • 2% – Embedded 2% – Linux. [2]
  • These are mainly in the following areas 89% – IoT related security breach 49% – malware 39% – human error 22% – DDos. [2]
  • 30–40% – reduction in emergency response time. [2]
  • 8–10% – reduction in fatalities. [2]
  • 10–15% – improvement on emergency service arrival time. [2]
  • 10% – decrease in street crime with IoT street crimes monitoring of public safety. [2]
  • 10–15% – reduction in gas emissions due to IoT application. [2]
  • 20–30% – reduction in water consumption through the use of IoT. 10–20% – reduction in unrecycled waste due to IoT implementation. [2]
  • 3–15% – reduction of the negative health effects of poor air quality. [2]
  • 30% – reduction in street lighting costs by using smart lights. [2]
  • 20% – reduction of waste collection costs with smart waste systems. [2]
  • Worldwide spending on the Internet of things will slow in 2020 then return to double digit growth, according to a new IDC spending guide. [2]
  • 66% of US cities are investing in smart city technology. [2]
  • 64% of companies have experienced web. [14]
  • 62% experienced phishing & social engineering attacks. [14]
  • 59% of companies experienced malicious code and botnets and 51% experienced denial of service attacks. [14]
  • According to the HIPAA Journal, “83 breaches were attributed to hacking/IT incidents and 9,662,820 records were exposed in those breaches”. [14]
  • More than 500,000 cybersecurity jobs in the U.S. are unfilled, and postings are up 74% over the past five years. [14]
  • An estimated 54% of companies say they have experienced one or more attacks in the last 12 months. [14]
  • Today, banks’ IT spend is primarily focused on the digital customer experience (79%). [15]
  • Per January 2020 data from Splunk, 21% of retail IT and business managers worldwide said their organization was currently using 5G services, and 63% expected their company to adopt 5G services in the future. [16]
  • According to US Retail Industry Tech Professionals*, Nov 2020 (% of respondents). [16]
  • (% of respondents, 2018 2020) Coronavirus Impact Interest in Select Digital Retail Technologies. [16]
  • Among US Consumers, March 2020 & June 2020 (% of respondents). [16]

I know you want to use Retail IoT Software, thus we made this list of best Retail IoT Software. We also wrote about how to learn Retail IoT Software and how to install Retail IoT Software. Recently we wrote how to uninstall Retail IoT Software for newbie users. Don’t forgot to check latest Retail IoT statistics of 2024.

Reference

  1. pwc – https://www.pwc.com/us/en/services/consulting/technology/emerging-technology/iot-pov/retail-iot-snapshot.html.
  2. pareteum – https://www.pareteum.com/internet-of-things-iot-stats-2021/.
  3. financesonline – https://financesonline.com/iot-statistics/.
  4. dataprot – https://dataprot.net/statistics/iot-statistics/.
  5. grandviewresearch – https://www.grandviewresearch.com/industry-analysis/internet-of-things-iot-retail-market.
  6. businessinsider – https://www.businessinsider.com/internet-of-things-ecommerce-retail-trends-2016-9.
  7. marketsandmarkets – https://www.marketsandmarkets.com/Market-Reports/retail-iot-market-43188550.html.
  8. thesslstore – https://www.thesslstore.com/blog/20-surprising-iot-statistics-you-dont-already-know/.
  9. kommandotech – https://kommandotech.com/statistics/iot-statistics/.
  10. mobindustry – https://www.mobindustry.net/blog/retail-technology-statistics/.
  11. statista – https://www.statista.com/statistics/688735/iot-in-retail-market-in-the-us-by-hardware/.
  12. cybra – https://cybra.com/10-omnichannel-retail-statistics-you-cant-avoid/.
  13. analyticsinsight – https://www.analyticsinsight.net/iot-in-retail-is-projected-to-reach-us4-03-billion-by-2027/.
  14. microsoft – https://docs.microsoft.com/en-us/azure/cosmos-db/use-cases.
  15. cybintsolutions – https://www.cybintsolutions.com/cyber-security-facts-stats/.
  16. insiderintelligence – https://www.insiderintelligence.com/insights/iot-banking/.
  17. emarketer – https://www.emarketer.com/content/how-5g-will-change-retail.

How Useful is Retail Iot

One of the key advantages of Retail IoT is its ability to provide retailers with real-time insights into consumer behavior. By collecting and analyzing data from connected devices such as smartphones, wearables, and sensors, retailers can gain a better understanding of their customers’ preferences, purchasing habits, and shopping patterns. This valuable information allows retailers to tailor their marketing strategies, product offerings, and store layouts to better meet the needs of their target market.

Additionally, Retail IoT plays a crucial role in improving inventory management and supply chain operations. By using IoT devices to track product availability, monitor stock levels, and manage logistics, retailers can ensure that their shelves are always fully stocked, reduce the risk of overstocking or stockouts, and minimize wastage. This not only improves the overall efficiency of the supply chain but also helps to increase profitability and enhance the customer experience.

Furthermore, Retail IoT allows retailers to create personalized and immersive shopping experiences for their customers. By leveraging technologies such as beacons, RFID tags, and smart mirrors, retailers can deliver targeted promotions, recommend personalized product suggestions, and provide interactive shopping experiences. This not only helps to drive sales and increase customer loyalty but also enhances the overall shopping experience by making it more engaging, convenient, and seamless.

Moreover, Retail IoT enables retailers to improve security and safety measures in their stores. By installing smart security cameras, sensors, and access control systems, retailers can monitor store premises in real time, detect potential threats or hazards, and respond quickly to emergencies. This ensures the safety of both customers and employees and helps to prevent theft, vandalism, and other security breaches.

In conclusion, Retail IoT has proven to be a powerful tool for retailers to enhance their operations, improve customer experiences, and drive business growth. By leveraging the capabilities of smart technology, retailers can gain valuable insights into consumer behavior, optimize inventory management, deliver personalized marketing campaigns, and enhance security measures. As the retail industry continues to evolve, Retail IoT will undoubtedly play a crucial role in shaping its future and driving innovation.

In Conclusion

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We tried our best to provide all the Retail IoT statistics on this page. Please comment below and share your opinion if we missed any Retail IoT statistics.

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