Artificial Intelligence in Food & Beverages: Global Market Forecasts 2018-2023 - ResearchAndMarkets.com
May. 14, 2018
DUBLIN--(BUSINESS WIRE)--May 14, 2018--The "Global Artificial Intelligence in Food & Beverages Market - Segmented by Application, End-user, and Region - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The artificial intelligence in food and beverages market is expected to register a CAGR of 28.64%, during the forecast period, 2018-2023.
Food processing is one of the most crucial revenue generating sectors for a majority of the developed and developing economies around the globe.
The advent of Internet of Things (IoT) and robotics in the industrial sector, has helped overcome critical issues related to production and execution by eliminating the potential chance of human errors, while reducing the redundancy in the work being performed by manual labor. The change in consumer demands towards preferring fast, affordable, and easily accessible food options has led to a transformation in the food & beverages industry, with market leaders leveraging advanced technologies, such as artificial intelligence and machine learning to scale operations and help companies stay relevant in a dynamic market environment.
Artificial intelligence has the potential to fuel innovation in production and packaging to reach consume expectations in terms of quality of the product on the palate and its related impact on the cost. To attain the potential tradeoff between the quality and price, industry stakeholders are actively leveraging the potential of AI across the various applications, such as product design, quality control, maintenance, as well as consumer engagement among others.
Key HighlightsImproving the Efficiency of the Conventional Industrial Infrastructure Customer Engagement Set to Propel the Use of Artificial Intelligence in F&B Industry
Key Developments in the MarketJanuary 2018 - Tomra Sorting Recycling has signed a contract with SKM Recycling (SKM) to supply automated sorting technology. Tomra is expected to supply 40 Autosort units featuring proprietary 3D laser technology for SKM's three new sorting facilities in Australia to reduce wastage. SKM, is engaged in processing recyclables from household and commercial streams and is constructing three new plants to process over 350,000 tons of kerbside collected material.
Companies MentionedTomra Sorting Solutions AS Greefa Sesotec GmbH Key Technology Inc. Raytec Vision SpA Rockwell Automation Inc. ABB Ltd. Honeywell International Inc. Martec of Whitell Ktd. NotCo
Key Topics Covered
2. Research Methodology
3. Market Analysis
4. Market Dynamics
5. Technology Snapshot
6. Global Artificial Intelligence in Food & Beverages Market Segmentation & Forecast
7. Competitive Intelligence - Key Vendor Profiles
8. Investment Analysis
9. Future Market Outlook
For more information about this report visit https://www.researchandmarkets.com/research/jmhgr9/artificial?w=4
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Related Topics:Artificial Intelligence
INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY
SOURCE: Research and Markets
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PUB: 05/14/2018 11:19 AM/DISC: 05/14/2018 11:19 AM