Mordor Intelligence: How These 3 IoT Trends are Changing the Face of Retail Industry

27/11/2020 - 08:45

The retail landscape is fast-changing owing to cutting-edge technologies like IoT, analytics, cloud computing, etc. One of the largest European retailers is testing a robot to monitor stocks on the floor, while another leading logistics company is implementing the Internet of Things (IoT) to boost service quality. Read this blog to uncover these stories and discover how IoT is changing the way retailers operate, and why IoT means more opportunities for businesses. 

A report by Mordor Intelligence claimed that the market for the Internet of Things (IoT) technology will be close to $69.25 bn by 2024. In 2018, it stood close to $22 bn. The forecasts show a jump of over 200% in just six years. The market for IoT hardware (wearables, beacons, sensors, RFID tags, etc.) alone would be close to $10 bn by the same time.