The future of eCommerce

10 Internet of Things CTION Virtual Reality THE FUTURE OF PRI O Augmented Reality eCOMMERCE Blockchain H2 Artificial Intelligence Internet of Things 2006 People have already been using loT devices since 2006 without being aware about it. At present, over 87% of the world population has not heard the term Internet of Things. 2008 The number of loT devices exceeded the world population in 2008, it reached 15 billion in 2015 and is expected to reach 75 billion in 2025 A total of over $19 trillion is anticipated to be the amount of cost-savings and profit gained through investing in loT. Can help in: Timely Automatic Personalised Logistics Tracking Multiple Delivery Replenishment Warehouse Marketing Management Virtual Reality 1980 The invention of VR can be traced back to 1980s and the term was coined in 1987. 1990 After the VR concept gained a bit of popularity in the 1990s, the idea was dropped due to a huge gap between public 2020 expectations and technological limitations. By the end of 2020, 36.9 million VR headsets are expected to be sold. But, it may take 6-8 more years for VR to go mainstream in eCommerce. Can be used for: Real Estate - for giving a Tourism - for briefing the virtual tour of the property tourist and being the virtual tour guide Product Marketing - for User Guides - for offering a showing a 3D presentation of a product detailed demonstration for using appliances Augmented Reality 1980 The term Augmented Reality was coined in 1990. 2009 AR was used solely for entertainment and gaming purposes till 2009. 2013 By 2013, people slowly started realising the potential of AR in various commercial fields. 2014 Google launched Google Glass devices in 2014, setting off a trend of wearable AR devices. Huge companies like Microsoft and Magic Leap made huge investments in developing AR wearables Can be used for: Get online shopping closer Try on clothes digitally to physical shopping in before buying them terms of user experience. See how furniture pieces would look in your space while buying Blockchain Blockchain is presently Blockchain is expected to reduce bank infrastructure used by only 0.5% population of the world. costs by 30%. At present, 69% of all the banks are already working on developing blockchains The global blockchain market is estimated to be worth 20 billion in 2024. Can be used for: Creating legitimate digital Speedy and simplified online B G currency transactions Easy and transparent Efficient record keeping management of funds Enhanced security and reduced online banking frauds Artificial Intelligence The most famous software companies have already successfully Siri Cortana launched a voice assistant. Alexa Google assistant At present, 15% of enterprises are using Al. This number is expected Work is in progress to create cloud-based "smart agents" that can predict your needs and desires. to go up to 30% by 2019. Al has learning capabilities. At present, it is as smart as a 4-year-old human. Can be used for: Enabling customer-centric Provide a personal touch visual search for items. through chatbots. Integrate loT with Al and Offer virtual personal offer quick buying facilities. shoppers. Bridge the gap between personalisation and privacy. References: https://www.newgenapps.com/blog/iot-statistics-internet-of-things-future-research-data https://www.fool.com/investing/general/2015/02/06/17-internet-of-things-statistics-you-dont-know.aspx https://paulcook.quora.com/How-can-VR-be-used-in-mobile-apps-of-various-fields-other-than-gaming https://www.vrs.org.uk/virtual-reality/who-coined-the-term.html https://www.fastcompany.com/3058836/vr-gaining-steam-but-not-mainstream-yet-report-finds http://images.huffingtonpost.com/2016-05-13-1463155843-8474094-AR_history_timeline.jpg https://expandedramblings.com/index.php/blockchain-statistics/ https://steemit.com/blockchain/@meiki/what-is-blockchain-technology-9-facts-and-statistics-that-everyone-shoul d-know-about-blockchain https://www.fool.com/investing/2016/06/19/10-stats-about-artificial-intelligence-that-will-b.aspx http://blog.linnworks.com/artificial-intelligence-in-ecommerce www.heliossolutions.in HELIOS SOLUTIONS M [email protected]