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IoT Market in Retail Applications to Grow by USD 71.2 Billion from 2024-2028, Driven by Cloud-Based RFID Systems and AI’s Impact on Market Trends – Technavio

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NEW YORK, Nov. 6, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global Internet of things (IOT) market in retail applications  size is estimated to grow by USD 71.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  22.8%  during the forecast period. Burgeoning cloud-based radio frequency identification (RFID) systems is driving market growth, with a trend towards evolution of artificial intelligence (AI) and augmented reality (AR) in retail stores. However, data security concerns in internet of things (IOT) retail applications  poses a challenge.Key market players include Allerin Tech Pvt. Ltd., Alphabet Inc., Amazon.com Inc., AT and T Inc., Ayla Networks Inc., Cisco Systems Inc., Fujitsu Ltd., General Electric Co., Hewlett Packard Enterprise Co., Hitachi Ltd., Huawei Technologies Co. Ltd., Impinj Inc., Intel Corp., International Business Machines Corp., Microsoft Corp., Nayasale Retail Pvt. Ltd., Nedap NV, NXP Semiconductors NV, Oracle Corp., Robert Bosch GmbH, SAP SE, and Siemens AG.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Technology (RFID, Sensors, NFC, Cloud services, and Others) and Geography (APAC, North America, Europe, Middle East and Africa, and South America)

Region Covered

APAC, North America, Europe, Middle East and Africa, and South America

Key companies profiled

Allerin Tech Pvt. Ltd., Alphabet Inc., Amazon.com Inc., AT and T Inc., Ayla Networks Inc., Cisco Systems Inc., Fujitsu Ltd., General Electric Co., Hewlett Packard Enterprise Co., Hitachi Ltd., Huawei Technologies Co. Ltd., Impinj Inc., Intel Corp., International Business Machines Corp., Microsoft Corp., Nayasale Retail Pvt. Ltd., Nedap NV, NXP Semiconductors NV, Oracle Corp., Robert Bosch GmbH, SAP SE, and Siemens AG

 

Key Market Trends Fueling Growth

Retailers utilize Artificial Intelligence (AI) to analyze customer buying patterns and target specific audiences, enabling customized product promotions. AI also powers conversational commerce through chatbots integrated with messaging apps, enhancing user engagement. IoT in retail applications introduces automated checkout systems using IoT devices, increasing customer satisfaction and footfall, particularly during time-constrained situations. For instance, Nayasale Retail Pvt. Ltd., an Indian startup, operates an AI-driven autonomous store in Kerala, featuring an automated checkout system, eliminating the need for cashiers or salespersons. Similar to Amazon Go, this store uses weight sensors to identify purchased items. These advancements are expected to fuel market growth during the forecast period. 

In today’s retail landscape, IoT technology is revolutionizing the way businesses operate. With omnichannel retailing, interconnected devices enable personalized shopping experiences. Smart payment solutions like contactless payments, mobile wallets, and Point of Sale systems streamline transactions. Retailers gather real-time insights into customer behavior using machine learning and AI, enhancing customer experience optimization. Asset management is improved with Bluetooth low energy sensors and RFID tags. E-commerce benefits from digital avatars and experiences. IoT services offer real-time data, cloud deployment, and on-premise solutions. Security is a priority with cybersecurity and data protection. IoT hardware includes sensors, beacons, and autonomous cleaning robots. Supply chain optimization and inventory management are enhanced, while digital infrastructure supports advertising and marketing efforts. IoT solutions provide professional and managed services, ensuring retailers stay competitive in the digital age. 

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Market Challenges

In the retail sector, the Internet of Things (IoT) market is expanding with the implementation of RFID tags, sensors, and NFC technology. However, data security is a significant concern as RFID readers communicate via both IP and radio frequency. Back-end communication security is crucial to prevent unauthorized network access, while front-end communication poses unique challenges. Threats include unauthorized tag access, rogue and clone tags, side-channel attacks, and traffic analysis. Spoofing is another issue where data can be overwritten on existing RFID tag data without detection. These vulnerabilities can hinder the growth of the retail IoT market, as manufacturers must address these challenges to ensure consumer trust and regulatory compliance.In the retail industry, IoT is revolutionizing operations and customer experiences. Retailers leverage IoT to gain real-time insights into inventory management through sensors and RFID technology. Digital avatars and experiences enhance customer engagement, while cloud deployment and edge computing enable data analytics. IoT services, professional services, and managed services support these initiatives. However, challenges persist. Digital rights management ensures secure cloud deployment and protects data. Cybersecurity and data protection are crucial for IoT hardware, particularly in areas like inventory optimization and supply chain management. Interoperability between IoT devices and systems is essential for omnichannel integration. Retailers face challenges with real-time data management, especially regarding customer management and advertising and marketing. Beacons and NFC enable contactless shopping and personalization, but retail theft is a concern. Autonomous cleaning robots and 5G networks streamline operations management. IoT applications in retail include smart shelves, supply chain optimization, and smart stores. These innovations require a digital infrastructure and effective cybersecurity measures. IoT solutions must balance the need for real-time data with data security and privacy concerns. Ultimately, IoT in retail applications offers significant benefits, but retailers must navigate these challenges to fully realize their potential.

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Segment Overview 

This internet of things (iot) market in retail applications report extensively covers market segmentation by

Technology 1.1 RFID1.2 Sensors1.3 NFC1.4 Cloud services1.5 OthersGeography 2.1 APAC2.2 North America2.3 Europe2.4 Middle East and Africa2.5 South America

1.1 RFID-  The RFID segment holds the largest market share in the global IoT market for retail applications in 2023. Retailers adopt RFID technology for inventory accuracy and margin growth by reducing product loss. RFID provides real-time inventory visibility, enabling automated replenishment and consumer demand satisfaction. The maturing RFID ecosystem and price reduction facilitate item-level merchandise tracking, optimizing inventory operations. Analytics software and hardware equipment, including RFID and sensors, are in high demand. Leading retailers like Walmart and Amazon utilize RFID-enabled cameras for video analytics, offering insights into product demand and customer requirements. Wearables are gaining popularity for enhancing the customer experience, leading to various applications and a hands-free shopping experience. These factors are expected to fuel the growth of the IoT market in retail applications during the forecast period.

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Research Analysis

The Internet of Things (IoT) is revolutionizing the retail industry by enabling interconnected devices and real-time data exchange. IoT applications in retail include Near Field Communication for contactless shopping, operations management for inventory optimization and customer management, and omnichannel integration for seamless shopping experiences. Smart stores utilize data analytics and machine learning for customer behavior analysis and personalized shopping recommendations. IoT also enhances customer engagement through beacons and personalized advertising and marketing. Omnichannel retailing benefits from IoT with smart payment solutions like contactless payments and mobile wallets at Point of Sale. Retailers can optimize customer experience with smart shelves, autonomous cleaning robots, and real-time data. IoT also addresses retail theft prevention and enhances cloud technology for efficient data storage and processing. Overall, IoT in retail applications offers numerous benefits from improved operations to enhanced customer experience.

Market Research Overview

The Internet of Things (IoT) is revolutionizing the retail industry by enabling interconnected devices and data-driven operations. IoT applications in retail include Near Field Communication for contactless shopping, RFID technology for inventory optimization, and smart shelves with real-time data for stock management. IoT also facilitates omnichannel integration, allowing seamless shopping experiences across physical and digital channels. Data analytics and machine learning power customer engagement and personalized shopping recommendations. Contactless payments, mobile wallets, and smart payment solutions enhance the checkout process. IoT applications extend to asset management, supply chain optimization, and even autonomous cleaning robots. 5G networks and edge computing ensure fast, reliable data transfer and processing. Data security and cybersecurity are crucial considerations, with IoT services, professional services, and managed services available to help retailers navigate these challenges. IoT in retail also includes experiences, such as digital avatars and real-time insights, as well as cloud deployment and on-premise deployment options. The retail landscape is becoming increasingly interconnected, with beacons, Bluetooth low energy, and smart stores transforming the shopping experience. IoT applications in retail go beyond traditional inventory management, offering real-time insights into consumer behavior and retail theft prevention. The future of retail is here, with IoT driving innovation and optimization across all aspects of the industry.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TechnologyRFIDSensorsNFCCloud ServicesOthersGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Haloid Poll: Majority of Public Safety and Commercial Radio Administrators Would Consider Starlink Integration With LMR Two-Way Radio Networks, but Disruption Unlikely

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STONY BROOK, N.Y., Oct. 25, 2026 /PRNewswire/ — Following Starlink’s announced entry into the mobile communications space, Haloid’s consulting team polled government and business land mobile radio (LMR) administrators on whether Starlink could replace, or complement, their LMR systems. We found that most radio administrators were receptive to the nascent technology but did not see it as a replacement for their LMR networks.

Sixty-seven percent of radio administrators said they would be willing to integrate Starlink technology if it allowed them to expand coverage or lower infrastructure costs. When asked whether Starlink could completely replace their LMR networks, fewer than 15 percent said yes; the vast majority believed Starlink is not as reliable as the custom networks they have built. Among administrators who already use two-way radio over cellular (also known as push-to-talk over cellular, or PoC), however, nearly 80 percent said that Starlink’s satellite coverage, combined with its newly acquired cellular spectrum, would make it more desirable than the industry’s wireless incumbents because it could eliminate dead spots where cellular does not reach.

In the U.S., hundreds of thousands of radio users rely on traditional cellular carriers for push-to-talk communications, and that number grows each year. While the migration to two-way radio over cellular has affected the LMR industry, it has not replaced it. Many public safety agencies never made the switch, citing the risk that cellular networks could go down during weather events, power outages, or cyberattacks and jeopardize emergency communications.

In fact, during recent cellular outages, Starlink was used to provide emergency communications to affected areas, because its satellite connectivity does not depend on cell towers. But Starlink’s integration with the 800 MHz cellular spectrum — “Starlink 2.0,” as some experts are calling it — exposes it to some of the same vulnerabilities as traditional wireless carriers.

While Starlink’s satellite service might still function if local cell towers go down, a critical portion of an agency’s communications might rely on local towers using the 800 MHz spectrum, leaving the agency vulnerable in a storm or outage.

Expect evolution, not disruption

“Just like cellular didn’t replace LMR, we don’t see Starlink as an existential risk,” said Jeremy Alicandri, President of Haloid Solutions. He expects Starlink to accelerate the industry’s evolution toward shared communications infrastructure, also known as hybrid LMR. “We have public safety customers already using Starlink in their vehicles to extend the coverage of their radios. This trend will continue as Starlink devices become more ubiquitous.”

The stock prices of Verizon, T-Mobile, and AT&T were affected by Starlink’s recent announcement. LMR stocks such as L3Harris, JVCKENWOOD, and BK Technologies, maker of the Bendix King brand, have been unaffected, as Wall Street views Starlink as unlikely to replace LMR technology for the same reasons cellular did not. “But it may be too early to predict the industry’s winners and losers,” Alicandri added. “The cellular incumbents have many advantages, including low-cost devices, existing infrastructure, and their own satellite ambitions.”

About Haloid Solutions Research

Haloid’s Starlink poll drew on respondents to its LMR brand loyalty study, which measures radio administrators’ sentiment toward the ownership and after-sales experience. Haloid’s LMR research is sponsored by investors in the mission-critical communications space.

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SOURCE HALOID SOLUTIONS

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Newborn Town and Viggle Launch AI-Powered 3D Interactive Game, Bringing World Models to Social Gaming

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HONG KONG, Oct. 26, 2026 /PRNewswire/ — Recently, Newborn Town’s game-oriented social platform TopTop has launched “Slap Showdown”, an AI-powered 3D interactive mini-game developed in collaboration with Viggle, a company specializing in physics-native world models. The launch brings world model technology into social gaming, offering users a more personalized and engaging interactive experience.

Developed by TopTop and powered by Viggle’s self-developed Joint Space-Time (JST) world model, “Slap Showdown” lets users turn uploaded photos into customized 3D characters and take them straight into the game.

Launched in September, “Slap Showdown” has gained particular traction in Japan, among Spanish-speaking users in North America, and across the Middle East. It is now available in multiple countries and regions worldwide.

From Better Gameplay to a Richer Ecosystem: How World Models Could Redefine Social Gaming on TopTop

In terms of gameplay, “Slap Showdown” combines AI-generated 3D characters with multiplayer interaction. Players can simply upload a photo from their phone and generate a personalized 3D character in around 30 seconds, whether it’s an anime protagonist, a cyberpunk cyborg, or a LEGO minifigure. They can then bring their custom characters into the game and face off against other players in fun, interactive battles.

As players use controls such as press-and-hold, tap, and drag, the 3D characters respond with realistic, physics-based movements. This takes AI-generated characters beyond visual customization, integrating them directly into the gameplay experience.

According to TopTop’s operations team, “Slap Showdown” has attracted a growing base of highly engaged, high-spending-potential players in its first month since launch. The game has recorded a 97% match completion rate, while its game-start rate has also exceeded the platform-wide average.

The depth of user engagement is further illustrated by individual player activity. One player in Japan completed 1,041 matches over 22 days, reaching a daily peak of 151 matches and averaging one match every 9.5 minutes. Another particularly avid player in Eastern Europe completed 735 matches in just 11 days, averaging 66.8 matches per day and peaking at 126 matches in a single day.

For a UGC-driven social gaming platform such as TopTop, mini-games serve as entry points and traffic drivers, while social features underpin retention and monetization. Personalized 3D avatars add another dimension to that experience. Beyond their visual appeal, they give users new ways to express themselves, interact with friends and share memorable moments. In turn, richer gameplay and more meaningful social interactions can help improve retention, attract new users and strengthen engagement across the platform.

“Slap Showdown” marks a successful step in TopTop’s efforts to deepen its application of AI technology, as well as a starting point for using world models to enhance gaming and social experiences. TopTop’s operations team said future game releases could make greater use of AI-powered 3D generation, extending beyond avatars to include customized environments. Existing games could also be revitalized by the introduction of new gameplay features, potentially driving stronger retention and user acquisition.

Beyond enriching gameplay, world model capabilities could also reshape social interaction itself, enabling more immersive, face-to-face experiences in virtual spaces. “We’re constantly exploring how AI can transform gaming and social interaction, while bringing new energy and capabilities to our UGC ecosystem,” TopTop’s operations team said.

Viggle Unveils Physics-Native Model JST-2, Setting Its Sights on Becoming the Infrastructure Layer for Physical AI

The world model technology powering “Slap Showdown” is provided by Viggle.

Founded in 2022, Viggle has focused on developing physics-native world foundation models. Its self-developed JST model can generate 3D characters, motion and environments directly, providing a foundation for gaming and a growing range of AI applications.

Viggle previously attracted widespread attention with Meme Maker, its AI-powered video creation product. The tool enables users to animate static characters and generate videos by applying specified movements, making AI character animation and video creation more accessible. In August 2024, Viggle raised USD 19 million in a Series A funding round led by Silicon Valley venture capital firm Andreessen Horowitz (a16z).

However, video creation was an early application of this technology. Viggle’s longer-term ambition is to make JST a foundational technology for AI-powered experiences across gaming, social platforms and other applications.

Viggle is now further expanding its technological boundaries. On 19 October, Viggle launched JST-2 in full, likening its significance for world models to GPT-2’s role in the evolution of language models.

Unlike many world models that infer physical structure indirectly from pixels, JST-2 is built around a physics-native architecture designed to learn the structure and dynamics of the 3D world directly. Its underlying representation consists of units resembling digital “atoms.” Each has a defined position in three-dimensional space, along with physical properties such as material, color and mass, and information describing how it moves and responds to forces. This allows the model to do more than generate convincing images. It can represent and generate 3D characters, motion and scenes with an underlying understanding of their physical properties.

To support this approach, Viggle has developed an integrated technology stack spanning tokenization, model architecture, data engine, pre-training and post-training. After four years of research and development, JST-2 can generate characters, motion and scenes within a single unified architecture.

Compared with other approaches, JST-2 also demonstrates cost efficiency. JST-2 can generate a 3D scene in seconds, at an inference cost of less than one US cent. Once created, the content can be rendered locally without repeatedly running the foundation model to generate each frame.

It is noteworthy that world model technology remains at an early stage, but Viggle is already working toward more advanced capabilities.

Its next-generation model, JST-3, is intended to become a comprehensive world simulator. Such a system could underpin future game and graphics engines, while also serving as a virtual training environment for robotics and other forms of physical AI.

The longer-term goal is for JST-3 to learn the physical rules governing its simulated world directly from data, rather than relying on rules explicitly written by developers.

For Newborn Town, its investment in and partnership with Viggle represents an important step in exploring how advanced AI can reshape social gaming, promoting a deep integration of AI technology with its business operations.

As a leading global social entertainment company, Newborn Town has continued to deepen the use of AI across key areas in recent years, including product R&D, social recommendation systems, intelligent operations, safety and risk management, and marketing and user acquisition, supporting ongoing business growth.

Meanwhile, the company also continued to invest across the AI ecosystem, backing projects in areas including world models, AI companionship, AI Agents and AI interactive gaming. These investments have further enriched its AI application ecosystem, with Viggle among the AI companies previously backed by Newborn Town.

“Slap Showdown” represents an early step in bringing world models into social gaming. For Newborn Town and Viggle, the next challenge is to turn increasingly sophisticated AI capabilities into experiences that users find genuinely engaging — and compelling enough to keep coming back.

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SOURCE Newborn Town

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HKICEC Launches First-Ever Global Mobile Exchange Pavilion at Mobile Electronics Show

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Charting a New Milestone with Outstanding Achievements

HONG KONG, Oct. 26, 2026 /PRNewswire/ — The Hong Kong International Communications Electronic Chamber (HKICEC) made a landmark debut at the Global Sources Mobile Electronics Show, held from October 18-21, 2026, with the inaugural launch of the HKICEC Global Mobile Exchange Pavilion. Spanning 600 square meters, the pavilion brought together nearly 60 industry leaders from mainland China, Hong Kong, India, Japan, the UAE, the US and the UK. As the largest themed pavilion in the mobile electronics sector and a premier highlight of the exhibition, this event marks a new developmental milestone for HKICEC. The pavilion underscores the chamber’s dedication to bridging global markets and serving the communications and electronics industry, injecting vital new momentum into the synergy between Hong Kong’s technology sector and international trade.

The grand opening ceremony on October 18 marked the official launch of the first B2B pavilion in Hong Kong and Asia dedicated exclusively to mobile communications equipment. The milestone event was officiated by a distinguished lineup of devices global business, including  Dr. the Hon. Starry Lee Wai King, GBS, JP, Member of the Standing Committee of the National People’s Congress and President of the Legislative Council; Mr. Zhu Xiaodong, Director of the Kowloon Affairs Department of the Liaison Office of the Central People’s Government in the HKSAR; Dr. the Hon. Horace Cheung Kwok Kwan SBS JP, Deputy Secretary for Justice, HKSAR; Mr. Liu Maozhou, Level 1 Bureau Rank Official, the Economic and Financial Department II, Liaison Office of the Central People’s Government in the HKSAR; Mr. Ho Lap Ki, Denny, JP, District Officer (Kwun Tong), Home Affairs Department; Mr James Liu, CEO of Global Sources; and Mr. Jacky Tse, Chairman of HKICEC, alongside HKICEC Management team. Together, they witnessed the official launch of the first B2B pavilion in Hong Kong and Asia dedicated to mobile communications equipment. The ceremony drew over a hundred political and business leaders, industry representatives, international exhibitors, and major media outlets, reflecting the event’s importance and the industry’s green trading development. Following the inauguration, officials toured the pavilion for high-level discussions with global exhibitors, signaling robust institutional backing for the industry and HKICEC’s strategic expansion.

During the four-day exhibition, the pavilion experienced a continuous flow of visitors. Communications and electronics suppliers and global buyers from overseas visited specifically for business matchmaking and negotiations, unlocking numerous commercial opportunities. Notably, the pavilion also featured a retrospective exhibit of 16 classic mobile phones, tracing the industry’s evolution from early ‘brick’ devices to Mainland China’s first official Apple release, the iPhone 3GS. The historical display proved to be a standout attraction, gathering large crowds throughout the event.

Beyond the exhibition floor, the chamber partnered with Global Sources to co-host an international forum on October 19. Under the theme ” From New Devices to New Life: Building a Global Mobile Device Lifecycle Ecosystem”, the event gathered experts from ecoATM, PCS Wireless, Cenwood, Our Hong Kong Foundation, and the Global Mobile Association. They engaged in profound discussions on cutting-edge topics including the global economic landscape, inventory management, ESG development, the circular ecology of new and used devices, and AI technology.  Attended by over 200 international representatives, the forum successfully catalyzed cross-border collaboration and established a new standard for sustainability discourse in the global mobile industry.

As a capstone to the comprehensive four-day events, HKICEC convened over 500 industry leaders, VIPs, and exhibitors for a high-profile networking banquet designed to accelerate cross-border business alliances. The gathering provided a premier platform for delegates to solidify collaborative ties and exchange strategic insights initiated from the pavilion. Ahead of the exhibition’s conclusion, a special ” Pearl Of The Orient • Victoria Harbour Cruise Party” was organized to showcase Hong Kong’s unique charm as a cosmopolitan city to global guests, providing a memorable networking experience against Hong Kong’s iconic skyline to formally cap off the week’s successes.

High-resolution images: https://bit.ly/3WqHMxu

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SOURCE The Hong Kong International Communications Electronic Chamber (HKICEC)

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