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#News(General) [ via IoTForIndiaGroup ]
According to the latest market study by Juniper Research, revenues generated by IoT retail platforms will exceed $4.3 billion by 2023 — that’s up from an estimated $890 million in 2018.
According to the research findings, challenging retail conditions, exacerbated by strong competition in the retail sector, the rise of eCommerce and spiraling store rental costs are acting like a big motivation for retailers to adopt IoT platforms.
The analyst found that IoT platform implementation will allow retailers to unlock efficiencies, particularly in the supply chain, which will improve operating profit margins.
positive impact RFID implementation can have in logistical and warehousing operations, and also as part of new shopping experiences such as Amazon Go. Resource optimization and heat sensor technologies were also found to be highly mature and disruptive in the retail sector.
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