Connecting the world of physical objects into a smart network, IoT technology brings new business opportunities for retailers and provides data-driven insights for decision-makers. According to Grand View Research, the global IoT retail market was valued at $42.38 billion in 2022 and is expected to grow at a CAGR of 28.4% from 2023 to 2030. The statistics show that more and more retail businesses are implementing IoT solutions to explore new ways of connecting with customers, boost sales and streamline business operations.
This article explores popular and non-trivial use cases and examples of how IoT tech can help retail companies.
