Internet of Things (IoT) in Foodservice – Thematic Research
Powered by 
All the vital news, analysis, and commentary curated by our industry experts.
The IoT in foodservice market size will be valued at $2.3 billion in 2020, growing at a CAGR of more than 6% during the forecast period. Whereas the CAGR for IoT markets across all other industries during the same period will be more than 10%, indicating IoT represents a lesser opportunity for foodservice than for other industries.
IoT investment will not be as significant in the foodservice industry as in some other markets, but it will still deliver significant returns. At present, industry IoT adoption is relatively low, and the technology is quite mature. Therefore, companies can invest with little risk. Additionally, companies who realized their supply chains’ vulnerabilities under the pressure of COVID will be interested in IoT investment.
The Internet of Things (IoT) technology is most valuable to foodservice companies in its capacity to collect data. Companies that use data effectively will enhance operational efficiency, reduce costs, improve decision-making, and provide a better customer experience. And since the pandemic has driven so many more online orders and at-home deliveries, the already-strong opportunity to gain a competitive advantage by using data is now even stronger. There is far more potential data to be collected, and IoT is the best tool for the job.
Historically, the foodservice industry was found to be slower than other industries to adopt emerging technologies. However, over half were planning to increase investment in disruptive technologies such as the Internet of Things (IoT).
Overview of the Internet of Things in foodservice market
For more insights on this report, download a free report sample
What are the foodservice challenges faced in IoT?
COVID-19 and the rise of the gig economy have disrupted the foodservice industry. Additionally, there is growing ESG pressure and an ongoing struggle to reduce costs and increase efficiency. Lately, food providers have largely seen revenues shrink, competition increase, and customer disposable income fall.
COVID-19 accelerated digital disruption in foodservice. Online orders surged, and in-restaurant consumption fell. Companies that digitalized hastily may have neglected to appropriately expand their cybersecurity. The new dependence on cloud-based technology exposes new vulnerabilities.
How IoT can address the challenge of the COVID-19 pandemic?
IoT can help address the challenge of COVID-19 by making supply chains more resilient and flexible under stress. With a clearer picture of their supply chain, companies can quickly identify issues and respond to unexpected events. Installing IoT technologies across the value chain enables companies to generate end-to-end overviews of their processes with live information on the activity at each stage. These technologies include sensors, cameras, GPS trackers, barcodes, smart labels, RFID tags, beacons, and more. They are cheap, and their deployment can bring massive rewards. IoT integration enables broader intra-supply chain information flow. With a better picture of the activity of others, each part of the supply chain can operate with leaner error margins built in and fewer misunderstandings and miscommunications. Additionally, unexpected events can be responded to with greater speed. This is crucial during the high-stress period.
What is the value chain segmentation for IoT in Foodservice?
According to Globaldata, the value chain for IoT is segmented into five layers including devices, connectivity, data, apps, and services. In the device layer, we find the makers of connected things, including sensors, embedded chips, and their components. 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 chips, AI chips, communications chips, and sensors.
The connectivity layer comprises of the process starting from the first entry point into a data network to the transfer of streamed data around data centers where it can be analyzed. In the data layer, the information collected from connected things is stored, cleansed, integrated with other systems, and analyzed. In the app layer, we find the smart hubs that control and monitor connected things. In the services layer, we find the technology service providers who provide system integration, consulting and other data services related to the development and maintenance of IoT ecosystems.
Which are the major Foodservice companies in the IoT theme?
The major Foodservice companies in the IoT theme are Compass Group, Conagra Brands, Domino’s, McDonald’s, Starbucks, The Middleby Corp, and Yum! Brands. The leading IoT vendors are Alphabet, Amazon, Apple, Broadcom, Cisco, IBM, GE, Intel, Microchip, Microsoft, NXP, Qualcomm, Samsung Electronics, and Splunk.
The IoT vendors in foodservice are AVEVA, Enevo, Miso Robotics, Natural Machines, Picnic, Sodexo, Swift Sensors, Winnow, and Zenput.
Foodservice companies in the IoT theme
To know more about key players, download a free report sample
Market report scope
| Market Size (Year – 2020) | $2.3 billion |
| Growth Rate | CAGR of >6% from 2021-2025 |
| Key Companies | Compass Group, Conagra Brands, Domino’s, McDonald’s, Starbucks, The Middleby Corp, Yum! Brands, Alphabet, Amazon, Apple, Broadcom, Cisco, IBM, GE, Intel, Microchip, Microsoft, NXP, Qualcomm, Samsung Electronics and Splunk, AVEVA, Enevo, Miso Robotics, Natural Machines, Picnic, Sodexo, Swift Sensors, Winnow and Zenput. |
| Key-Value Chain segments of IoT | Devices layer, Connectivity layer, Data layer, Apps layer, and Services layer |
Scope
This report provides an overview of IoT uses in Foodservice. It provides:
- Global market size and growth forecast of the IoT in foodservice market.
- Analysis of the need for IoT to optimize the relationship between technology and foodservice.
- Detailed industry analysis of IoT in Foodservice, discussing how it is being utilized in a range of different ways.
- Leading foodservice companies and vendors in the IoT theme.
Reasons to Buy
- Informed by GlobalData’s technology and foodservice analysts, we also provide a detailed analysis of the value chain to facilitate decision-making.
- Assess the strategies that companies are adopting when using IoT.
- Company details that are leading in the space.
- To view real-world trends created by the adoption of IoT from across the Foodservice space.
Alibaba
Alphabet
Altierre
Amazon
AMD
Analog Devices
Apple
AT&T
AVEVA
Baidu
Bosch
Broadcom
Cisco
Coca-Cola
Colgate-Palmolive
Dell
Deloitte
Diageo
Ericsson
GE
Heineken
Henkel
Honeywell
HPE
Huawei
IBM
ImpactVision
Infineon
INRIX
Intel
Johnson & Johnson
Juniper Networks
KDDI
Kellogg's
Kraft Heinz
L'Oréal
Lytx
Majik Systems
Marico
Microchip
Microsoft
Miso Robotics
Mobileye
Mondelez
Nestlé
NTT
Nvidia
NXP
Oracle
Orange
Orbisk
Palo Alto Netowrks
PepsiCo
Picnic
Procter and Gamble
PTC
Qualcomm
Reckitt
Salesforce
Samsara
Samsung Electronics
SAP
SAS
Siemens
SingTel
Softbank (Arm)
Software AG
Splunk
ST Micro
Symbiotic
Telefonica
Tencent
Texas Instruments
Trend Micro
Unilever
Verizon
Vodafone
Winnow
Zetes
Swft Sensors
Zenput
Deliveroo
Domino's
Just Eat Takeaway
Starbucks
Table of Contents
Frequently asked questions
-
What is the market size of the global IoT in foodservices market?
The market was valued at $2.3 billion in 2020.
-
What is the growth rate for global IoT in foodservice market?
The market is expected to grow at a CAGR of more than 6% during the forecast period.
-
Who are the major players in the market?
The major companies in the market are Compass Group, Conagra Brands, Domino’s, McDonald’s, Starbucks, The Middleby Corp, Yum! Brands, Alphabet, Amazon, Apple, Broadcom, Cisco, IBM, GE, Intel, Microchip, Microsoft, NXP, Qualcomm, Samsung Electronics and Splunk, AVEVA, Enevo, Miso Robotics, Natural Machines, Picnic, Sodexo, Swift Sensors, Winnow and Zenput.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.
Sample Report
Internet of Things (IoT) in Foodservice – Thematic Research was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:
- Assess the relevance of the report
- Evaluate the quality of the report
- Justify the cost
Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.
Related reports
View more Foodservice reports
