Connect with us

Technology

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

Published

on

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.

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF

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. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

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.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

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.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

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/

View original content to download multimedia:https://www.prnewswire.com/news-releases/iot-market-in-retail-applications-to-grow-by-usd-71-2-billion-from-2024-2028–driven-by-cloud-based-rfid-systems-and-ais-impact-on-market-trends—technavio-302296573.html

SOURCE Technavio

Continue Reading

Technology

HUYA Inc. to Report Third Quarter 2026 Financial Results on Tuesday, November 17, 2026

Published

on

By

-Earnings Webinar Scheduled for 5:00 a.m. ET on November 17, 2026-

GUANGZHOU, China, Oct. 27, 2026 /PRNewswire/ — HUYA Inc. (“Huya” or the “Company”) (NYSE: HUYA), a leading game-related entertainment and services provider, today announced that it will report its third quarter 2026 unaudited financial results on Tuesday, November 17, 2026, before the open of U.S. markets.

The Company’s management will host a Tencent Meeting Webinar at 5:00 a.m. U.S. Eastern Time on November 17, 2026 (6:00 p.m. Beijing/Hong Kong time on November 17, 2026), to review and discuss the Company’s business and financial performance.

For participants who wish to join the webinar, please complete the online registration in advance using the links provided below. Upon registration, participants will receive an email with webinar access information, including meeting ID, meeting link, dial-in numbers, and a unique attendee ID to join the webinar.

Participant Online Registration

A live webcast of the webinar will be accessible at https://ir.huya.com, and a replay of the webcast will be available following the session.

[1] For the purpose of this announcement only, Chinese Mainland excludes the Hong Kong Special Administrative Region, the Macao Special Administrative Region of the People’s Republic of China, and Taiwan.

About HUYA Inc.

HUYA Inc. is a leading game-related entertainment and services provider. Huya delivers dynamic live streaming and video content and a rich array of services spanning games, e-sports, and other interactive entertainment genres to a large, highly engaged community of game enthusiasts. Huya has cultivated a robust entertainment ecosystem powered by AI and other advanced technologies, serving users and partners across the gaming universe, including game companies, e-sports tournament organizers, broadcasters and talent agencies. Leveraging this strong foundation, Huya has also expanded into innovative game-related services, such as game distribution, in-game item sales, advertising and more. Huya continues to extend its footprint in China and abroad, meeting the evolving needs of gamers, content creators, and industry partners worldwide.

For more information, please visit: https://ir.huya.com.

For investor and media inquiries, please contact:

In China:

HUYA Inc.
Investor Relations
Tel: +86-757-6681-1975
E-mail: ir@huya.com

Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
E-mail: huya@tpg-ir.com

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: huya@tpg-ir.com

View original content:https://www.prnewswire.com/news-releases/huya-inc-to-report-third-quarter-2026-financial-results-on-tuesday-november-17-2026-302920241.html

SOURCE HUYA Inc.

Continue Reading

Technology

MEXC and Hacken Launch AI Trading Safety Handbook to Promote Safer AI Adoption

Published

on

By

MUTSAMUDU, Comoros, Oct. 27, 2026 /PRNewswire/ — MEXC, a pioneer in 0-fee digital asset trading, and blockchain security, compliance, and regulatory assurance partner Hacken, have released the MEXC × Hacken AI Trading Safety Handbook, providing practical guidance on how users and platforms can use and deploy AI-assisted and automated trading tools more safely, from research and decision support through trade execution.

The handbook follows the recent MEXC AI Trading Report, which found strong interest in AI alongside clear demand for greater control. In MEXC’s 2026 survey, willingness to use automated trading rose from 55% to 71.8% when limits on funds, positions, leverage and losses were introduced.

As AI takes a more active role in trading, the handbook emphasizes that safety cannot rely on the AI model alone. AI-facilitated actions should be checked against separate permissions, financial limits and risk controls before execution. It covers risks including credential exposure, excessive permissions, manipulated data and unintended execution, while outlining practical safeguards for both users and platforms.

For users, the handbook sets out five safety checks: Ask, Verify, Limit, Control and Review. For platforms, it outlines five principles: Guard, Limit, Approve, Controls and Test. Together, they provide a practical framework for expanding the use of AI while keeping appropriate controls in place.

“AI can make trading more accessible and efficient, but greater capability should come with stronger safeguards,” said Vugar Usi Zade, CEO of MEXC. “At MEXC, we want users to benefit from innovation, while taking a measured approach to AI adoption. Our People First principle means giving users access to new capabilities without losing sight of control, transparency and risk.”

“AI agents will soon place more orders than people do. Trust in them should be earned the way smart contracts earned it: through independent controls, continuous red-teaming and evidence anyone can verify,” said Dyma Budorin, CEO and co-founder of Hacken. “This handbook is intended to raise awareness of those risks and provide practical support for both users and platforms. As adoption grows, platforms will need to test these safeguards continuously and strengthen them as new risks emerge.”

MEXC and Hacken hope the handbook can serve as a practical reference for users and platforms as AI becomes more deeply integrated into trading, helping raise risk awareness and support safer, more responsible adoption across the industry.

About MEXC

Founded in 2018, MEXC is a leading global multi-asset trading platform built as your 0-fee gateway to infinite opportunities. Serving users across 170+ markets, MEXC provides simple and efficient access to crypto, stocks, tokenized assets, derivatives, and a growing range of TradFi-linked opportunities through one account and one gateway.

With 0 trading fees, deep liquidity, broad asset coverage, and a high-performance trading experience, MEXC is designed for retail users who want to discover earlier, act faster, and trade with fewer barriers. As crypto and traditional finance continue to converge, MEXC is committed to making global opportunities more accessible, helping users trade freely and MEXCmize every opportunity.

MEXC Official Website| X | Telegram |How to Sign Up on MEXC

About Hacken

Hacken is a security and assurance partner for financial institutions and the infrastructure they rely on: exchanges, ecosystems, custodians, banks, asset managers, and tokenization platforms. Hacken’s AI security work includes AI agent security audits and red-teaming of AI systems.

Founded in 2017, Hacken has 60+ engineers and more than 1,500 clients across industries, including the European Commission, ADGM, Ethereum Foundation, Societe Generale-Forge, MetaMask, and Bybit.

Hacken website | X | LinkedIn

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/mexc-and-hacken-launch-ai-trading-safety-handbook-to-promote-safer-ai-adoption-302920475.html

SOURCE MEXC

Continue Reading

Technology

Renoworks Appoints SaaS Sales Executive Madan Murthy as Vice President of Sales

Published

on

By

Strategic appointment strengthens enterprise sales capabilities to accelerate growth and market adoption of renoworks.ai

CALGARY, AB, Oct. 27, 2026 /PRNewswire/ — Renoworks Software Inc. (TSXV: RW) (OTC: ROWKF) (“Renoworks” or the “Company”), an industry leader in AI-powered visualization, design and lead-generation technology for the building products industry, today announced the appointment of Madan Murthy as Vice President of Sales. The appointment supports initial positive feedback from existing clients of renoworks.ai, which now requires more sales resources to move faster.

Mr. Murthy brings more than 25 years of experience building and scaling business-to-business technology and Software-as-a-Service (SaaS) organizations, with a demonstrated track record of accelerating revenue growth, acquiring enterprise customers and developing high-performing sales organizations across international markets.

The appointment comes as Renoworks enters a new phase of growth following the launch of renoworks.ai, its next-generation AI-native platform combining photorealistic visualization, product intelligence, homeowner engagement, lead generation and data analytics. The Company believes this expanded offering creates significant opportunities to deepen relationships with existing customers and attract new manufacturers, distributors, retailers and contractors seeking to leverage AI to improve customer engagement and drive sales.

“The launch of renoworks.ai represents an important step forward in our growth strategy, and we believe the opportunity to expand our market presence has never been greater,” said Doug Vickerson, Chief Executive Officer of Renoworks. “Following recent introductions of these new capabilities to the building products industry, it is evident that it is now time to strengthen our enterprise sales organization. Madan brings extensive experience scaling SaaS businesses, winning major enterprise accounts and building repeatable sales processes. His proven ability to translate innovative technology into sustainable revenue growth makes him an excellent addition to our leadership team.”

Throughout his career, Mr. Murthy has contributed to significant revenue growth across multiple technology organizations. His accomplishments include helping scale a business from $50 million to $225 million in revenue while increasing new-customer opportunity-to-close rates from 8% to 35% and improving customer retention to 98%. He has also helped grow an early-stage software company’s SaaS business to $25 million in recurring revenue, secured Fortune 500 customers and built and led a 30-person international sales organization spanning North America, Europe and Asia-Pacific.

In his new role, Mr. Murthy will focus on expanding Renoworks’ enterprise customer base, developing new market opportunities and accelerating adoption of renoworks.ai. He will work closely with the Company’s existing business development, marketing and customer success teams to strengthen its sales pipeline, enhance go-to-market execution and support long-term recurring revenue growth.

“I am excited to join Renoworks at such an important stage in its evolution,” said Madan Murthy, Vice President of Sales. “The combination of Renoworks’ established relationships across the building products industry, deep product expertise and its new AI-native platform creates a compelling opportunity for growth. I look forward to working with the team to expand our enterprise presence, develop new customer relationships and help bring the benefits of renoworks.ai to a broader market.”

About Renoworks

Renoworks Software Inc. (TSXV: RW) (OTC: ROWKF) develops and markets AI-powered software solutions for the home remodeling and new home construction industries. The Company provides manufacturers, contractors, builders and retailers with innovative digital solutions that help homeowners visualize building products on their homes, make more informed purchasing decisions and connect with industry professionals.

Through its next-generation renoworks.ai platform, the Company is expanding beyond traditional visualization to deliver advanced AI-driven design capabilities, product intelligence, lead generation, data analytics and integrated sales workflows. These solutions help industry participants enhance customer engagement, streamline the remodeling process and increase sales opportunities.

Renoworks generates revenue through its primary business lines, including Renoworks Enterprise, Renoworks PRO, Renoworks Design Services and Renoworks API.

For more information, visit www.renoworks.com and www.renoworkspro.com.

Forward Looking Information

Certain statements in this news release, other than statements of historical fact, are forward-looking information that involves various risks and uncertainties. Such statements relating to, among other things, the prospects for the Company to enhance operating results, expand adoption of its AI-powered platform and introduce new software capabilities, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature. These uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice.

The Company assumes no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/renoworks-appoints-saas-sales-executive-madan-murthy-as-vice-president-of-sales-302920217.html

SOURCE RenoWorks Software Inc.

Continue Reading

Trending