Dublin, Aug. 22, 2023 (GLOBE NEWSWIRE) -- The "Smart Food Logistics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The global smart food logistics market is set to flourish with a projected Compound Annual Growth Rate (CAGR) of 14% over the forecast period. Several key highlights and trends shape the trajectory of this dynamic market.
IoT Revolutionizing Logistics
IoT technology is transforming logistics from traditional asset tracking to intelligent supply chains, yielding a higher return on investment (ROI) for logistics companies. IoT-enabled sensors offer real-time data on asset and fleet locations, mobility speed, temperature conditions, and more. This digital shift enables seamless integration across warehouse, transport, and end-consumer information, fostering transparency and efficiency through the entire supply chain.
Regulatory Pressures and Transparency
Stringent food laws and regulations, like the Food and Drug Safety Act, are driving the need for greater transparency and record-keeping in supply chains. Meeting these requirements is a driving factor for the market's growth. As different areas implement varying regulations, logistics and technology play a pivotal role in recording and sharing information across the supply chain.
Cold Chain Monitoring's Crucial Role
The adoption of cold chain monitoring technologies is a significant trend in the smart food logistics market. These solutions ensure stable temperatures for temperature-controlled products during storage and transport. With the rise in demand for packaged food and stricter regulations, maintaining the cold chain's integrity has become paramount. Technologies like Bluetooth Low Energy (BLE) beacons with temperature sensors enable real-time tracking and continuous temperature data monitoring, mitigating spoilage risks.
North America: A Hub of Innovation
North America dominates smart logistics adoption due to its numerous vendors, waste reduction efforts, and technological advancements. Strong manufacturing, transportation, and logistics industries position the region as a hub for asset tracking. Government initiatives and policies further bolster market growth, enhancing efficiency and waste reduction throughout the supply chain.
Strategic Collaborations and Investments
Key players in the market are driving growth through strategic mergers, acquisitions, and partnerships. These collaborations aim to enhance business operations and expand market reach. Initiatives such as the partnership between DP World and Americold underscore the market's ambition to redefine global food distribution.
Government Backing Drives Innovation
Government support is fueling innovation in the smart food logistics market. The U.S. Department of Agriculture (USDA) is investing in enhancing processing capacity, strengthening supply chain infrastructure, and creating job opportunities. These initiatives align with broader goals of promoting competitiveness and stability in the food supply chain.
Conclusion: Pioneering Progress
The smart food logistics market is on a trajectory of innovation and growth. The convergence of IoT technology, regulatory pressures, and market demands is reshaping supply chains. Cold chain monitoring solutions play a pivotal role in maintaining product integrity, and North America's advancements position it as a hub of smart logistics adoption. Government backing and strategic collaborations are paving the way for a more resilient, efficient, and transparent global food supply chain. As the market evolves, its trajectory is one of pioneering progress and transformative change.
Key Topics Covered
1 INTRODUCTION
1.1 Market Definition and Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Need for Efficient Monitoring and Tracking for Better Control of Assets
5.2 Market Restraints
5.2.1 Installation Complexities
6 IMPACT OF COVID-19 ON THE LOGISTICS INDUSTRY IN THE FOOD AND BEVERAGE SECTOR
7 MARKET SEGMENTATION
7.1 Component
7.1.1 Hardware (Sensors, Telematics, Networking Devices, etc.)
7.1.2 Software and Services
7.2 Technology
7.2.1 Fleet Management
7.2.2 Asset Tracking
7.2.3 Cold Chain Monitoring
7.3 Geography
7.3.1 North America
7.3.2 Europe
7.3.3 Asia-Pacific
7.3.4 Latin America
7.3.5 Middle East and Africa
8 COMPETITIVE LANDSCAPE
8.1 Company Profiles
8.1.1 Orbcomm
8.1.2 Sensitech (Carrier Global Corporation)
8.1.3 Berlinger & Co. AG
8.1.4 Geotab Inc.
8.1.5 Kii Corporation
8.1.6 Verizon Connect
8.1.7 Teletrac Navman
8.1.8 Monnit Corporation
8.1.9 Controlant
8.1.10 Samsara Inc.
8.1.11 Seaos
8.1.12 Nippon Express Co. Ltd.
8.1.13 YUSEN LOGISTICS Co. Ltd. (Nippon Yusen Kabushiki Kaisha(NYK)
8.1.14 Hacobu Co. Ltd. (MOVO)
8.1.15 Kouei System Ltd.
8.1.16 LYNA LOGICS, Inc.
9 INVESTMENT ANALYSIS
10 FUTURE OF THE MARKET
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