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Connected Retail Market Value Analysis: What Growth Is Expected Over The Forecast Period?
The connected retail market has experienced rapid expansion in recent years. Its valuation is projected to increase from $51.32 billion in 2025 to $61.24 billion in 2026, exhibiting a compound annual growth rate (CAGR) of 19.3%. This historical growth has been driven by factors such as the proliferation of e-commerce platforms, the rising demand for seamless shopping experiences, the widespread adoption of digital payment systems, the emergence of customer analytics tools, and the broader expansion of retail automation.
The connected retail market size is anticipated to experience substantial growth over the next few years, projected to achieve $123.94 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 19.3%. Factors contributing to this growth during the forecast period include the integration of AI-driven personalization, the adoption of IoT-enabled retail systems, the rise of contactless payments, the demand for data-driven merchandising, and the expansion of smart retail stores. Significant trends expected in the forecast period are omnichannel retail integration, smart in-store technologies, personalized customer engagement platforms, connected payment and checkout systems, and real-time inventory visibility solutions.
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#Connected Retail Market Demand Drivers Creating New Revenue Opportunities
The expansion in the uptake of the Internet of Things (IoT) is anticipated to fuel the progress of the connected retail market in the future. The Internet of Things (IoT) refers to a connected framework comprising computing units, mechanical apparatus, and electronic equipment, each possessing distinct identities (UIDs), which can exchange data autonomously, eliminating the requirement for human interaction. This increase in IoT adoption stems from both enterprises and individuals desiring instant connectivity, automated processes, and enhanced decision-making, achievable through effortless device synchronization and data-informed perspectives. In the context of connected retail, the Internet of Things (IoT) facilitates its development by employing linked devices to accumulate live data, elevate customer satisfaction, and streamline operational performance. A case in point: figures reported by Ubisense, an England-based software company, in February 2025, indicated that in 2023, the number of connected Internet of Things (IoT) devices hit 16.6 billion, marking a 15% rise compared to 2022. Consequently, the growing integration of the Internet of Things is a key factor propelling the expansion of the connected retail market.
Connected Retail Market Segment Outlook: Which Categories Are Expanding The Fastest?
The connected retail market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: ZigBee, NFC (Near Field Communication), Bluetooth Low Energy, Wi-Fi, Other Technologies
3) By Application: Electronics And Appliances, Home And Personal Care, Food And Beverage, Apparel, Sporting Goods And Toys, Other Applications
Subsegments:
1) By Hardware: Point Of Sale (POS) Systems, IoT Devices, Digital Signage, Self-Service Kiosks
2) By Software: Inventory Management Systems, Customer Relationship Management (CRM) Software, Analytics And Reporting Software, Payment Processing Software
3) By Services: Consulting Services, Integration Services, Support And Maintenance Services, Managed Services
Connected Retail Market Industry Trends Shaping Future Revenue Growth
Leading companies active in the connected retail market are concentrating on developing advanced solutions, such as digital product interaction, to improve customer involvement, deliver clear product information, and enhance shopping experiences. Digital product interaction refers to a technological function that enables consumers to access detailed product information, origin, and sustainability data directly through a digital interface, helping them make educated purchasing decisions. For instance, in October 2024, Carrefour SA, a France-based retail business, introduced “QR Codes powered by GS1” on its private-label wine selection. This launch provides shoppers with transparent product specifics and origin details upon scanning and prepares stores for point-of-sale compatibility with next-generation 2D symbols, supporting deeper customer engagement and supply chain visibility.
Connected Retail Market Key Companies And Competitive Benchmarking
Major companies operating in the connected retail market are Microsoft Corporation; Zebra Technologies Corporation; Intel Corporation; PTC Inc.; SAP SE; Cisco Systems Inc.; International Business Machines Corporation; Google LLC; NXP Semiconductors N.V.; Softweb Solutions Inc.; Honeywell International Inc.; Sonata Software Limited; iVend Retail; Avanade Inc.; Fujitsu Limited; Verizon Enterprise Solutions; Amazon Inc.; ARM Holdings PLC.; Belatrix Software Private Limited; Samsung Electronics Co. Ltd.; Toshiba Corporation; Siemens AG; Wipro Limited; Accenture plc; Capgemini SE; Infosys Limited; NEC Corporation; Tata Consultancy Services Limited; DXC Technology Company
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Connected Retail Market Leading Geography: Which Region Generates The Most Revenue?
North America was the largest region in the connected retail market in 2025. Asia-Pacific is expected to be the fastest-growing region in the global connected retail market during the forecast period. The regions covered in the connected retail market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.