Role of Internet of Things Technology in Promoting the Circulation Industry in the Transformation of a Resource-Based Economy

In recent years, the business scale of my country’s circulation industry has continued to expand, and the output value has continued to increase. The leading role in guiding the transformation of the industrial economy has become more and more important. Based on this, this article discusses the research on the promotion of the Internet of Things technology to the circulation industry in the transformation of the resource-based economy. The application of RFID technology and wireless sensor technology in the Internet of Things in the circulation industry can greatly improve work efficiency and information transmission accuracy. This article establishes the circulation industry based on the principles of science, system, safety, and relative independence. The evaluation index system analyzes the role of the circulation industry in the transformation of the resource-based economy in terms of circulation scale, circulation structure, circulation efficiency, circulation innovation, etc., and uses the analytic hierarchy process and entropy method to analyze the collected data. With the support of RFID technology, the output value of the circulation industry in Province Y has reached 140.508 billion yuan in 2019, accounting for about 27% of the tertiary industry, and the number of employees in the circulation industry has also increased to 57.88%, which is a strong boost to the economy of Province Y. It has a greater contribution to the total economic volume. The research of this article has realized the economic transformation of resource-based cities in the circulation industry and has a certain reference effect for the transformation and upgrading of similar cities.