Global IoT and Traceability for Food & Beverage Manufacturing Market Size, Share, Trend, Growth, Application and f

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The Global IoT and Traceability for Food & Beverage Manufacturing Market was valued at USD 5.66 billion in 2019 which is expected to reach USD 10.22 billion by 2027at a CAGR 9.4%.

Global IoT and Traceability for Food Beverage Manufacturing Market

 

The Global IoT and Traceability for Food Beverage Manufacturing Market was valued at USD 5.66 billion in 2019 which is expected to reach USD 10.22 billion by 2027at a CAGR 9.4%.

The IoT and Traceability for Food Beverage Manufacturing is added value to manufacturers, by making the proper decision regarding the demand, product visibility, inventory turnover, forecasting, and sales. Also, IoT, and traceability helps the manufacturers to connect with both upstream consumers, and downstream suppliers and improving vendor relationship. Traceability is defined as the information system which is required to track the history of product from the point of origin to the point of sale via production and shipping processes.

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Market Drivers

The increase in demand for food safety, product quality along with customer standards which anticipated to fuelling the global Internet of Things (IoT) and traceability for food beverage manufacturing market growth over the forecast period. Furthermore, continuous advancements in food and beverage industry will positively influence the market growth in near future. These technologies help to maintain operational efficiency and being compliant with governmental regulations. Also, they helping companies to achieve high level of food safety, streamlined logistics, improve traceability via transparent supply chain, and reduce costs and risks across the different food processing and packaging stages. This is expected to propel the global IoT and traceability for food and beverage manufacturing market growth.

Market Restraints

Lack of standardized interfaces and limited integration and scalability is the major restraint for market growth which expected to hamper the hamper the global IoT and Traceability food and beverage manufacturing market growth during this analysis period.

Market Segmentation

The Global IoT and Traceability for Food Beverage Manufacturing Market is segmented into component such as Product, and Software. Further, market is segmented into Supply Chain Management, Traceability, and Product Recall, Consumer Transparency, Food Safety and Quality Control, and Inventory Management.

Also, Global IoT and Traceability for Food Beverage Manufacturing Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East Africa.

Market Key Players

Various key players are discussed in this report such as GE Digital,  ScienceSoft, HQ Software Industrial IoT Company, Style Lab IoT Software Company, PTC, Cisco, ARM IoT, SAP, and Siemens IoT Analytics Company.

Market Taxonomy

By Component

  • Product Software

By Application

  • Supply Chain Management Traceability and
  • Product Recall Consumer Transparency Food Safety and
  • Quality Control Inventory Management

By Region

  • North America
  • Latin America
  • Europe Asia Pacific
  • Middle East Africa

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About Us

QualiKet Research is a leading Market Research and Competitive Intelligence partner helping leaders across the world to develop robust strategy and stay ahead for evolution by providing actionable insights about ever changing market scenario, competition and customers. QualiKet Research is dedicated to enhancing the ability of faster decision making by providing timely and scalable intelligence. We use different intelligence tools to come up with evidence that showcases the threats and opportunities which helps our clients outperform their competition.

 

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