Internet of Things (IoT) in Consumer Goods – Thematic Intelligence
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Internet of Things (IoT) in Consumer Goods Thematic Report Overview
The IoT is fundamental to the consumer supply chain offering a range of benefits that can enhance operations and customer experience and support innovation. The technology can be used throughout the consumer, food service, and packaging supply chains to improve efficiency by monitoring inventory levels, demand patterns, and logistics, all while reducing costs. IoT devices can track inventory levels and product conditions in real time, meaning overstocking and stockouts can be avoided. IoT sensors can also monitor product quality and safety during manufacturing, transportation, and storage, particularly for perishable goods. Any deviations from set standards can be detected early, ensuring only safe and high-quality products reach consumers.
The Internet of Things (IoT) in Consumer Goods thematic intelligence report assesses how IoT, combined with other emerging technologies, can be used across the consumer goods value chain. It provides an overview of the current landscape. The report also includes key players and highlights opportunities for the use of IoT in the future. The report provides an industry-specific analysis based on GlobalData databases and surveys.
Report Pages | 54 |
Regions Covered | Global |
Value Chain | · Physical Layer
· Connectivity Layer · Data Layer · Apps Layer · Goods Layer |
Leading Adopters | · Colgate-Palmolive
· Diageo · Heineken |
Specialist IoT Vendors | · Impact Vision
· Majik Systems · Orbisk |
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IoT in Consumer Goods – Industry Analysis
IoT software will be the largest part of the IoT function in the consumer goods sector by 2027
According to GlobalData forecasts, total global spending by consumer goods companies on IoT hardware, services, and software in 2022 amounted to $13.1 billion. This will increase at a CAGR of more than 11% between 2022 and 2027.
The Internet of Things (IoT) in Consumer Goods industry analysis also covers:
- Cast studies
- Signals
- Mergers and acquisitions
- Company filing trends
Global IoT Revenue across the Consumer Goods Sector, 2019-2027 ($ Billion)
Buy the Full Report for More Industry Insights into the IoT in Consumer Goods Market Forecast
IoT in Consumer Goods - Value Chain Analysis
The IoT value chain is split into five layers, namely physical, connectivity, data, apps, and goods.
Physical layer: This layer can be further subdivided into connected things, cameras and lenses, sensors and microcontrollers, and microprocessors. Connected things can include connected cars, smart thermostats, fitness bands, smart light bulbs, or a parcel in a delivery truck. The essential electronic components include microcontroller units (MCUs), central processing units (CPUs), AI chips, communications chips, and sensors. Despite the geopolitical issues impacting the production and delivery of advanced chips, leaders in this space include Amazon, Apple, and Huawei.
IoT Value Chain Analysis
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IoT in Consumer Goods – Competitive Landscape
Leading IoT Adopters in the Consumer Goods Sector
Some of the leading consumer goods companies currently deploying IoT are:
- Colgate-Palmolive
- Diageo
- Heineken
Specialist IoT Vendors in the Consumer Goods Sector
Some of the specialist IoT vendors in the consumer goods sector are:
- Impact Vision
- Majik Systems
- Orbisk
Buy the Full Report to Know More About the Leading IoT Adopters and Vendors
Consumer Sector Scorecard
At GlobalData, we use a scorecard approach to predict tomorrow’s leading companies within each sector. Our sector scorecard has three screens: a thematic screen, a valuation screen, and a risk screen.
- The thematic screen ranks companies based on overall leadership in the 10 themes that matter most to their industry, generating a leading indicator of future performance.
- The valuation screen ranks our universe of companies within a sector based on selected valuation metrics.
- The risk screen ranks companies within a particular sector based on overall investment risk.
Consumer Sector Scorecard – Thematic Screen
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IoT in Consumer Goods Sector Scorecard also includes:
Scope
• 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. An estimated 1.6 billion tons of food are lost or wasted globally every year, with a value of $1.2 trillion. The UN has targeted reducing 50% of food wastage by 2030 as part of its Global Opportunities for Sustainable Development Goals.
• 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.
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
- Benchmark your company against your competitors and assess how consumer goods, packaging, and foodservices companies are utilizing IoT to drive revenues.
- Identify attractive investment targets by understanding which companies are most advanced in the themes that will determine future success in the consumer goods industries.
- Understand key industry challenges and where IoT use cases are most useful.
- Develop and design your corporate strategies through an in-house expert analysis of IoT by understanding the primary ways in which this theme is impacting the consumer goods industries.
- Position yourself for future success by investing in the right IoT technologies.
Colgate-Palmolive
Diageo
Heineken
Kraft Heinz
L’Oréal
Philips
Procter & Gamble
Unilever
Majik Systems
Picnic
Qliktag
Schneider Electric (Aveva)
Zetes
Table of Contents
Frequently asked questions
-
What was the size of the IoT market across consumer goods in 2019?
According to GlobalData forecasts, total global spending by consumer goods companies on IoT hardware, services, and software in 2022 amounted to $13.1 billion.
-
What is the growth rate of IoT spending in the consumer goods sector?
The spending by consumer goods companies on IoT will increase at a CAGR of more than 11% between 2022 and 2027.
-
Who are the leading adopters currently deploying IoT?
Some of the leading consumer goods companies currently deploying IoT are Colgate-Palmolive, Diageo, and Heineken among others.
-
Who are the leading specialist IoT vendors in the consumer goods sector?
Some of the leading specialist IoT vendors in the consumer goods sector are Impact Vision, Majik Systems, and Orbisk among others.
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