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Growth Opportunities for Sensors Enabling IoT in Retail
Growth Opportunities for Sensors Enabling IoT in Retail
Hyper-personalized Customer Experience Drives Technology Adoption
31-Oct-2022
Global
Description
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?
Table of Contents
Why Is It Increasingly Difficult to Grow?The Strategic Imperative 8™: Factors Creating Pressure on Growth
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
Summary of Key Findings
Summary of Key Findings (continued)
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
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
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
Connectivity and Easy Customer Experience-enabling Themes: Main Focus Areas of Research on Retail IoT
Funding Trends
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
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 Trends Driving IoT in Retail
Technology Development Roadmap for IoT in Retail
Growth Opportunity 1: IoT in Retail to Open Opportunities for SMEs
Growth Opportunity 1: IoT in Retail to Open Opportunities for SMEs (continued)
Growth Opportunity 2: Personalized Customer Communication After Data Collection
Growth Opportunity 2: Personalized Customer Communication After Data Collection (continued)
Growth Opportunity 3: Retail IoT Technologies for Enhanced SCM
Growth Opportunity 3: Retail IoT Technologies for Enhanced SCM (continued)
Your Next Steps
Why Frost, Why Now?
Legal Disclaimer
| Author | Kasthuri Jagadeesan |
|---|---|
| Industries | Electronics and Sensors |
| No Index | No |
| Is Prebook | No |
| Podcast | No |
| WIP Number | DA23-01-00-00-00 |