Loitering munitions are munitions capable of staying in the air while they search for a target, and some capable of returning to base in the case of an unsuccessful target identification. While they operate in a similar way to armed drones, their self-destructive capabilities are what set them apart. Loitering munitions are a rapidly expanding segment within unmanned systems and munitions. While loitering munitions have been in use for several decades, their use has increased significantly in the past years, with the coming decade expected to see unprecedented growth in the market.
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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.
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