More than any other issue, customers are concerned about their privacy. Recent laws like GDPR and the CCPA indicate that consumers want to be in control of their data because they don’t trust how companies are handling it. Research shows that 79% of consumers are concerned about data security and privacy issues, and multiple surveys have found it to be the biggest cause for concern for consumers, especially as the number and severity of data breaches increases. That means it should also be top of mind for companies and that they need to continually re-evaluate and update their data privacy policies and strategies.
80% of retailers will use IoT to customize the in-store experience by 2021. Worldwide IoT spending is expected to hit $1 trillion by 2022. Smart cities with IoT are expected to be worth $2 trillion total by 2025.