Food Cold Chain Track and Trace Revenues Set to Surpass US$7 Billion as Operational Efficiency Demands Solutions Adoption [Yahoo! Finance]
PowerFleet, Inc. (AIOT)
Company Research
Source: Yahoo! Finance
NEW YORK Aug. 1, 2024 /PRNewswire/ -- The adoption of cold chain telematics solutions for refrigerated trucks and containers in the food and beverage industry is set to grow extensively over the coming years. Regulatory compliance and food waste reduction are the biggest drivers of solutions implementation in this space. According to global technology intelligence firm ABI Research , food cold chain track and trace revenues are expected to surpass US$7 billion worldwide in 2032. These revenues will consist of hardware sales and recurring monthly Software-as-a-Service (SaaS) revenues. Software services can enable real-time monitoring of metrics such as temperature and humidity of ambient temperature of refrigerated trucks and food items during transit. "Retailers are taking numerous initiatives such as streamlining last-mile delivery processes, employing cold chain telematics solutions in refrigerated trucks and containers, and adopting traceability solutions like Radio Frequency Id
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