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Covina, CA, Aug. 13, 2020 (GLOBE NEWSWIRE) -- The report"Global Internet of Things and Traceability for Food & Beverage Manufacturing Market, By Components (Product and Software), By Application (Supply Chain Management, Traceability, & Product Recall, Consumer Transparency, Food Safety & Quality Control, Inventory Management, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029.

Key Highlights:

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Analyst View:

One of the major goals of the food & beverage manufacturing industry is to deliver high-quality food to the end consumer, which can be performed accurately by monitoring the foodservice equipment round the clock, utilizing IoT solutions. Rising investments in technologically advanced solutions towards food processing, safety and packaging are expected to boost the growth of the target market in the upcoming years. Additionally, rapidly rising urban population and growing consumer awareness about the threat of food hazards is also supporting growth of the target market. This growth in consumer awareness regarding the sustainability of the edibles is fascinating the food & beverage companies to employ digital solutions to ensure product quality, henceforth influencing the global market growth. Furthermore, Industrial Internet of Things (IIoT) technologies such as Artificial Intelligence (AI) and Big Data Analytics are anticipated to witness a huge role in streamlining and accelerating the manufacturing process through advanced automation and analytics.

Browse 60 market data tables* and 35figures* through 140 slides and in-depth TOC on Global Internet of Things and Traceability for Food & Beverage Manufacturing Market, By Components (Product and Software), By Application (Supply Chain Management, Traceability, & Product Recall, Consumer Transparency, Food Safety & Quality Control, Inventory Management, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029

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Key Market Insights from the report:

The global internet of things and traceability for food & beverage manufacturing market accounted for US$ 6.0 billion in 2019 and is estimated to be US$ 14.4 billion by 2029 and is anticipated to register a CAGR of 9.2%. The market report has been segmented on the basis of components, application, and region.

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Competitive Landscape:

The prominent player operating in the global Internet of things and traceability for food & beverage manufacturing market includes ScienceSoft, HQ Software Industrial IoT Company, Style Lab IoT Software Company, PTC, Cisco, GE Digital, SAP, ARM IoT, and Siemens IoT Analytics Company.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Key Topics Covered

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Taste to the Future: Global Internet of Things and Traceability for Food & Beverage Manufacturing Market - GlobeNewswire