Retail Industry a Growth Opportunity for Intel's Internet of Things

Intel’s (INTC) investment in the Internet of Things is paying off, with new products being launched this year and revenue growing for the division. Intel recently introduced several technologies aimed at the retail industry. ‘Retail is a great example of one of the industrial markets that is taking advantage of IoT,’ said Bridget Karlin, Managing Director of the IoT Strategy and Technology Office at Intel’s Internet of Things Group. She estimates retail is expected to be about a $35 billion industry with IoT by 2020. Intel recently partnered with Levi’s to help the company address issues of inventory management. ‘ Inventory management for the whole industry is a significant problem, it’s about a one trillion dollar problem a year, in terms of potentially lost sales, due to the right product not being on the shelf at the right time and that sort of thing,’ said Karlin. TheStreet's Rhonda Schaffler has more from Wall Street.