Global IoT in food industry market Growth, Trends, COVID-19 impact and Forecast (2020-2025)
The global IoT in the food industry market is segmented on Component (Software Solutions, Services, Platform), Node Component (Processor, Sensor, Connectivity IC), Network Infrastructure (Server, Storage, Ethernet Switch and Routing, Gateway), Connectivity Technology (Wi-Fi, Bluetooth Low Energy, Zigbee), Cellular, Satellite, Others) and Region (APAC, North America, Europe, and ROW).
Introduction
The Internet of Things (IoT) helps food and beverage companies gain greater visibility over their manufacturing, production, and transportation processes to provide higher quality products for end consumers while maintaining operational efficiency and remaining compliant with governmental regulations.
The internet of things technology helps link different smart devices together to enable the operation and sharing of data between them. Different smart devices, such as cameras, smartphones, and wearables, gather required data from devices that are further used to improve the experience of customers.
IoT is helping companies to achieve high levels of food safety, improve traceability through transparent supply chains, streamlined logistics, cut down wastage, and reduce costs and risks across the different stages of food processing and packaging.
Because of the pandemic, COVID 19 people are showing more interest towards foods that are served with contactless delivery which is an advantage to this market.
Table of Contents
Executive Summary
Scope of the report
Research Methodology
Executive Summary
Introduction
5.1 Parent Market/ TAM
5.2 Market Outline
5.3 Market Segmentation
6. Five Force analysis
7. Market Sizing
8. Market segmentation
9. Geographical Landscape
9.1 APAC
9.2 Europe
9.3 North America
9.4 ROW
10. Growth drivers
10.1 Convergence of logistics and technology, along with cloud-based
10.2 Increasing investments in technologically advanced solutions
11. Key Market Trends
12. Impact of Covid-19
13. Challenges
14. Customer Insights analysis
15. Major Market Players
15.1 Hewlett Packard Enterprise Development LP
15.2 Intel Corporation
15.3 SAP SE
15.4 Cisco
15.5 Microsoft
15.6 IBM Corporation
15.7 Oracle
15.8 Google
16. Recent Developments
17. Future Scope
18. Strategic Recommendations
Market Overview
The Global IoT in food industry market is expected to grow to $12.03 billion by 2025.
Growth momentum is expected to accelerate during the forecast period with 9.4% CAGR.
North America dominates IoT in food market due to the increasing adoption of smart connected devices along with growing number of technological advancement while Europe region will expect to grow in the forecast period 2020 to 2025 due to the increasing adoption of advanced technology in the region.
Key Trends
A cold chain monitoring solution helps the food manufacturers efficiently manage the storage, shipment, and distribution of products requiring a temperature-controlled environment.
Zero contamination, precise storage, and high-speed storage and retrieval operations are the key reasons driving automation and the adoption of technologies in the food and beverage logistics process.
Key Market Players
The most prominent players in the market are Intel Corporation, SAP SE, Cisco, Microsoft, IBM Corporation, Oracle, PTC, Google, Hewlett Packard Enterprise Development LP, Amazon Web Services Inc., Bosch.IO GmbH, General Electric, Telit, Happiest Minds, HARMAN International, ScienceSoft USA Corporation, HQSoftware, Arm Limited, Siemens, Koninklijke Philips NV, and others.
Growth Drivers and Challenges
Convergence of logistics and technology, along with cloud-based collaborative solutions that extend through the entire supply chain, has enabled a tight integration of warehouse, transport, and end consumer information, and transparency through the supply chain, this in turn, has been identified as a key driver towards the growth of the market.
Increasing investments in technologically advanced solutions towards food processing, safety, and packaging are anticipated to drive the growth of the market over the forecast period.