Category: IoT

On-field workers tackle numerous workplace dangers from chemical exposure and equipment mishaps to fatal falls, heat strokes and fatigue. Along with conventional personal safety equipment, robust regulations and extensive training are vital. However, even these practices do not confirm absolute safety; no one knows when the external environment suddenly turns dangerous. Likewise, managers or supervisors are entirely unaware when remote field workers reach their physical threshold.

Smart connected IoT devices now provide an unprecedented level of visibility into workers’ health and working environment. Smart IoT-enabled wearables like watches, helmets, etc., continuously capture vital physical metrics like blood pressure, heart rate, temperature, etc.

According to ILO, more than 2.8 million workers die per year due to occupational accidents or work-related disease. It is devastating to know that every 15 seconds, 178 accidents happen at a workplace. It is a staggering number that potentially affects every employee. Businesses pay considerable prices to improve workplace safety. The US Department of Labor calculates an annual cost of 170 billion USD associated with workplace hazards and injuries.

Technologies including Artificial Intelligence, Big data, Machine Learning and IoT have evolved the retail industry over the past decade. IoT (Internet of Things) continues to transform the retail market and is anticipated to be deployed by over 80% of global retailers in 2021. Frontier Economics states that a 10% increment in M2M connections will generate a 2.26 trillion USD GDP increment in the US alone within 15 years.

IoT applications allow retailers to increase their productivity, improve customer experience, reduce costs and increase sales. With such enormous benefits, IoT is gaining immense popularity among retailers worldwide. Global IoT’s market size in the retail sector is forecasted to rise from 14.5 billion USD in 2020 and reach 35.5 billion USD by 2025 at a CAGR of 19.6%.

The retail industry can utilize IoT technology in many ways. It helps retailers to improve store operations, track energy utilization, manage in-store navigation, manage product shelves, prevent theft and monitor goods.