Internet of Things (IoT) in Consumer: Strategic Intelligence
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This report delves into how the Internet of Things, or IoT, can be used to enhance operations within the consumer goods, foodservice, and packaging industries. IoT covers several different technologies, ranging from physical items like sensors and actuators to connectivity-related services like cloud infrastructure. This report outlines how IoT-related services can be implemented by companies within the consumer sector to streamline operations, reduce costs, and improve customer relations. For instance, IoT can help companies connect with consumers, bringing about improved marketing strategies.
The Internet of Things, or IoT, describes the use of connected sensors and actuators to control and monitor the environment, the things that move within it, and the people that act within it. According to GlobalData, the consumer goods sector’s spending on IoT will reach $20.6 billion in 2028, having grown at a compound annual growth rate (CAGR) of 9% between 2023 and 2028. Leading companies such as Colgate-Palmolive utilize IoT-powered sensors across their production lines to predict and prevent equipment failures. Additionally, IoT is showing significant potential in monitoring ESG-related data, such as greenhouse gas emissions and energy usage, enabling companies to accurately disclose key data when prompted.
Scope
According to GlobalData’s Q4 consumer survey, 50% of respondents are concerned about how inflation could affect their household budgets. Additionally, 55% of respondents are either quite, or extremely concerned about their financial situation.
The cost of unplanned machine downtime in the fast-moving consumer goods industry is approximately $36,000 an hour.
Integrating IoT with technologies like 5G and AI could reduce carbon emissions by 15%.
Key Highlights
- IoT technology is deployed across the whole consumer goods value chain and can enable consumer goods companies to automate workflows, improve efficiency while reducing costs, and improve safety and ESG credentials.
- IoT technology can be used to tackle food waste, a big problem in the fast-moving consumer goods (FMCG) supply chain.
- IoT can also enable smart packaging, guaranteeing food product safety and reducing waste. Smart packaging includes sensors that monitor factors like temperature, humidity, and freshness, providing real-time information about the condition of the food. This helps identify potential issues that could lead to spoilage or waste.
Reasons to Buy
This report will enable you to understand how the Internet of Things affects the consumer goods, foodservice, and packaging sectors. The report will facilitate actionable insights, which can help you adapt to this theme, implementing new strategies to hold a competitive edge within the industry.
The report will also help you identify some of the leading players in the Internet of Things, identify key trends that are incorporated, and provide a basis for benchmarking.
Augury
Apeel Sciences
Avery Dennison
Boston Dynamics
British American Tobacco
CFA Properties
Coca-Cola
Colgate-Palmolive
Diageo
Digimarc
Domino’s
Heineken
Kraft Heinz
Majik Systems
Mesh Systems
Nestlé
PepsiCo
Procter & Gamble
Qliktag
Schneider Electric
Sodexo
Starbucks,Stora Enso
Unilever
Wiliot
Orbisk
Table of Contents
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