Growth Opportunities for Sensors Enabling IoT in Retail
Advancements in sensor technologies have facilitated the emergence of connected living. The development of sensors that detect multiple parameters enables the Internet of Things (IoT), which is communication between devices. However, sensors as a standalone device would not be able to play a vital role in the IoT space as only partial data would remain. Hence, enabling technologies that assist data collection and analysis are necessary to generate meaningful information. Retail IoT includes technologies that collect data (sensors) and those that integrate sensors and facilitate a more immersive retail customer experience. The IoT in retail will primarily transform supply chain management (SCM) and customer engagement opportunities. With the need for the end-to-end traceability of goods and services in retail SCM increasing, and end users having high expectations of an immersive customer experience, it is imperative that retail industry participants across the value chain integrate IoT capabilities to compete.
The scope of this research study is limited to technologies that enable an interactive and immersive customer experience. The study assesses emerging technologies that facilitate a personalized customer experience in the retail industry, including sensors, RFID, Bluetooth, Wi-Fi, advanced display, smart lighting, robotics, VR/AR, data analytics, and IoT-based payment technologies, such as NFC.
Questions the Research Addresses:
What are the main enabling technologies transforming IoT in retail?
What are the key factors influencing adoption in the innovation ecosystem?
What are the key industry initiatives? Who are the main participants impacting technology development?
What are the patent and funding trends in the retail IoT space?
What are the future growth opportunities for market participants?
- Strategic Imperatives
- Why Is It Increasingly Difficult to Grow?
- The Strategic Imperative 8
- The Impact of the Top 3 Strategic Imperatives on the Internet of Things (IoT) in the Retail Industry
- Growth Opportunities Fuel the Growth Pipeline Engine
- Research Methodology
- Research Process and Methodology
- Growth Opportunity Analysis
- Summary of Key Findings
- Scope of Analysis
- Segmentation
- Channels Adopting IoT in the Retail Industry to Improve the Customer Experience
- Growth Drivers
- Growth Restraints
- Opportunity Assessment of IoT in Retail
- IoT in Retail Adding Value Post-pandemic in Stores and Assisting Retailers to Maintain Shopper Distancing
- Technologies Enabling IoT in Retail
- IoT Enabling Technologies for the Retail Industry
- Emerging Technologies, such as Advanced Imaging, Camera Sensors, and Data Analytics, to Play a Vital Role in the Retail Industry
- Well-established Technologies, such as Bluetooth and Wi-Fi, Have Extensive Usage in the Retail Industry
- Advanced Display Technologies to Encourage Next-generation Human- Machine Interaction
- Immersive Customer Experience that VR and AR Enable
- Robotics Will Reduce Human Errors and Automate the Retail Industry
- Connectivity and Easy Payment Opportunities Drive Retail IoT Advancements
- Other Technologies Encouraging Retail IoT Development
- Connected Smart Vending and Smart Shopping Card Convergence Scenarios are Enabling Retail IoT
- Assessment of Industry Use Case Initiatives
- Use Case 1: Super Indo, Indonesia, and Plexure LLC, United States
- Use Case 2: Kesko Foods, Finland, and SmartCart LLC and Kontakt.Io, United States
- Use Case 3: AB InBev and Consumption Information Real Time (CIRT), South Africa
- Global Innovation Indicators
- Connectivity and Easy Customer Experience-enabling Themes: Main Focus Areas of Research on Retail IoT
- Funding Trends
- Assessment of Retail Industry's Strategic Alliances and Collaborations
- Strategic Alliances Focus on Bringing IoT to Retail Sensors
- R&D Collaborations to Advance IoT in Retail Applications
- Government Initiatives Foster IoT Sensing to Aid Embattled Retailers
- New Product Introduction Protects Quality and Provides Shopping Convenience
- New Product Aims to Reduce Shoplifting as Stores Reopen After Lockdowns
- Mergers and Acquisitions Help Analyze Customer Behavior
- Companies to Action
- AWM Smart Shelf
- Smart Shelf Displays
- Caper AI
- Smart Shopping Cart
- Hitachi Vantara Corporation
- LiDAR Sensor Intelligent Surveillance Solution
- Shekel Brainweigh Ltd
- Frictionless Retail Grocery Sales
- Scanalytics, Inc.
- Foot Traffic Sensing and Analysis
- Future of IoT in Retail
- Future Trends Driving IoT in Retail
- Technology Development Roadmap for IoT in Retail
- Growth Opportunity Universe
- Growth Opportunity 1: IoT in Retail to Open Opportunities for SMEs
- Growth Opportunity 2: Personalized Customer Communication After Data Collection
- Growth Opportunity 3: Retail IoT Technologies for Enhanced SCM
- Next Steps
- Your Next Steps
- Why Frost, Why Now?
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