Upload
jamie-warren
View
1.025
Download
1
Embed Size (px)
Citation preview
World Population 6.3 Billion 6.8 Billion 7.2 Billion 7.6 Billion
Connected Devices 500 Million 12.5 Billion 25 Billion 50 Billion
Connected Devices per Person 0.08 1.84 3.47 6.58
2003 2010 2015 2020
Source: Cisco 2011
2008ish, more devices
than people! IoT is born.
“The industrial Internet has the potential to add $10 to $15 trillion to global GDP over the next 20 years”- GE
“The IoT will create $19 Trillion of Value at Stake for Companies and Industries”- Cisco
“The worldwide market for IoT solutions will grow from $1.9 trillion in 2013 to $7.1 trillion in 2020”- IDC
“IoT product and service suppliers will generate incremental revenue exceeding $300 billion in 2020.”- Gartner
“Trying to determine the market size for the Internet of Things is like trying to calculate the market for plastics, circa 1940. At that time, it was difficult to imagine that plastics could be in everything.”
Opportunities for Retail with IoT
Customer Experienc
e
Data Driven Retail
Supply Chain
New Channels and Revenue streams
Customer Experience
In Store● Parking Assistance● Smart Mirrors● Smart Shopping carts● ‘Queue busting’
Customer Experience
Location / Behaviour● Behaviour based pricing● Personalised messaging● Order anywhere / Virtual
Stores
Data Driven Retail
● Analytics● Passive Wifi Tracking● Gender and Age
determination● Connected shelf labels
Supply Chain / Industrial Internet
● Machine-requested restocking
● Smart Shelves● Product Life extension● On demand production● Fraud prevention ● Smart Packaging
New Channels and Revenue Streams
● Sharing fixed assets and systems
● New product development“I don’t need a drill, I need a hole in my wall”
Complexity
• Machine-to-Machine communication is where the value is
• No yet plug-and-play
• Machine Learning vital
Behaviour Change
• Privacy concerns
• More than half of U.S. consumers who have owned an activity tracker no longer use it.
1. Focus on Customer Experience.
2. Think Big Data and Analytics.
3. Design Security in.
4. Start small. Start now.
Developing an IoT Strategy
“It used to be the case in business that the big fish ate the small fish, now it’s the fast fish eating the slow fish.” Joe Jensen, Intel