Internet of Things (IoT) Market in Foodservice Sector Will Garner a CAGR of over 6% During 2021-2025 – GlobalData Plc

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London, UK -- (SBWIRE) -- 10/17/2022 -- The latest publication from GlobalData Plc titled Internet of Things (IoT) in Foodservice – Thematic Research predicts the IoT market size in 2020 valued at USD 2.3 billion in 2020. As per the report, IoT is anticipated to deliver promising returns in the foodservice industry. The ability of IoT to collect data will be one of the most prominent reasons for companies to adopt it. Foodservice companies will be able to churn the effectively collected data to enhance operation efficiency, minimize costs, improve decision-making, and offer a better customer experience.

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IoT in Foodservice Highlights

- Internet of Things (IoT) deployment by foodservice companies has enabled them to overcome various limitations including COVID-19, rising costs, scale efficiencies, ESG, and others.
- The IoT value chain comprises key components including the device layer, connectivity layer, data layer, app layer, and services layer.
- Key market companies are engaging in strategic partnerships and acquiring promising startups to strengthen their product portfolios and make their mark in the IoT space. For instance, McDonald's installed Swift Sensors to maintain compliance. These sensors saved considerable manual inspection time for the staff, freeing them up to serve customers.
- Similarly, Domino's uses Zenput sensors for ensuring food safety. Domino's largest US franchisee, RPM Pizza, deployed Zenput sensors at all stores and reported significantly improved food safety practices and record keeping.
- KFC Russia installed robots that serve customers. The robots use face recognition to match customers with the biometric data they provided upon ordering. Similarly, Kroger uses autonomous vehicles for delivering food to customers. Kroger partnered with Ocado in 2018 and Mirakl in August 2020 to expand its purview.

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IoT Vendors in Foodservice Sector

The specialist IoT vendors in foodservice sector are:

- AVEVA: The AVEVA Predictive Analytics product is hosted in the cloud and combines historical data, sensor data, and AI to detect early warnings of equipment issues.

- Enevo: Enevo's sensors, installed in bins, use ultrasonic sonar to measure food waste. Peet's Coffee and Wendy's are among its clients.

- Miso Robotics: Miso Robotics designs robotic solutions that automate kitchen processes. Their main solution, Flippy, assists in grilling, frying, preparing, and plating food using computer vision and sensors.

- Natural Machines: Natural Machines' Foodini product is a mini-manufacturing IoT appliance that works like a 3D printer for food. It facilitates cost-effective food production at an individual location compared to central manufacturing and distribution.

- Picnic: Picnic specializes in food production technology and robotics as a service tool.
- Sodexo
- Swift Sensors
- Winnow
- Zenput

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About GlobalData
GlobalData is a leading provider of data, analytics, and insights on the world's largest industries. As a leading information services company, thousands of clients rely on GlobalData for trusted, timely, and actionable intelligence. Our mission is to help our clientele ranging from professionals within corporations, financial institutions, professional services, and government agencies to decode the future and profit from faster, more informed decisions. Continuously enriching 50+ terabytes of unique data and leveraging the collective expertise of over 2,000 in-house industry analysts, data scientists, and journalists, as well as a global community of industry professionals, we aim to provide decision-makers with timely, actionable insights.

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