"Within the increasingly competitive technology landscape, data is the most essential commodity. Data has been so valuable that when managed and analyzed properly, it can provide correct insights that businesses can use to innovate and grow. Today, higher-quality data can now be captured quicker and in greater volumes due to the Internet of Things (IoT).
IoT is defined as a network of devices that gather and convey data using the Internet. According to a report by Report Liner, the IoT and traceability for the food and beverage manufacturing market was valued at 4.08 billion USD in market value in 2017 and is expected to reach 8.43 billion USD by 2025, growing at a CAGR of 9.5%. IoT adds a layer of technology to food manufacturers to ensure better food safety by being able to oversee the entire food manufacturing process. For example, IoT devices allow the management of entire operational and quality control procedures such as the temperature of processed items, the pressure levels of items, and even the application of labels to products.”