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The Internet of Things (IoT) market in retail applications size is forecast to increase by USD 71.2 billion, at a CAGR of 22.8% between 2023 and 2028. The market is witnessing significant growth, driven by several key trends. One of the major factors fueling market growth is the increasing adoption of burgeoning cloud-based radio frequency identification (RFID) systems. These systems enable real-time inventory tracking and management, leading to improved operational efficiency and enhanced customer experience. Another trend transforming the retail landscape is the evolution of artificial intelligence (AI) and augmented reality (AR) in retail stores. AI-powered chatbots and virtual assistants offer personalized shopping experiences, while AR enables virtual product trials and shopping experiences. However, the market also faces challenges, primarily data security concerns in IoT retail applications. With the increasing use of connected devices, ensuring data privacy and security becomes paramount to prevent potential breaches and protect sensitive customer information.
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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