Foodservice - Enterprise ICT

Foodservice - Enterprise ICT

Summary

The Foodservice Enterprise ICT Country Intelligence Report, a new Vertical Intelligence Report by GlobalData, summarizes key findings from GlobalData’s ICT Customer Insight Survey carried out in H1-2023 and GlobalData’s Market Opportunity Forecasts to 2027: Foodservice. It reveals an executive-level overview of how the overall ICT budgets and their allocations towards various segments have changed for enterprises in the vertical in 2023 compared to 2022 and ICT revenue opportunity with detailed forecasts of key indicators up to 2027. The report provides detailed analysis of the overall foodservice's enterprise ICT market trends and growth drivers based on GlobalData’s ICT Customer Insight Survey and GlobalData’s Market Opportunity Forecasts. The report also discusses about the market growth inhibitors impacting foodservice's overall ICT market. Its sheds focus on enterprise ICT budget allocations and ICT revenue opportunity covering 18 solution areas, segmental analysis, and regional analysis. The report also includes a brief profile on some of the key ICT vendors within the foodservice vertical.

The vertical intelligence provides information and insights into ICT budget allocations and ICT revenue opportunity for enterprises in foodservice vertical

• Overall enterprise ICT revenue opportunity and ICT budget allocations for enterprises in foodservice
• Insights on foodservice's enterprise ICT growth drivers and market trends, basis GlobalData's ICT Customer Insight Survey and Market Oppotunity Forecasts to 2027
• Insights on market growth inhibitors impacting foodservice's overall ICT market
• Breakdown of enterprise ICT revenue opportunity by solution areas and key regions
• Segmental analysis of foodservice's enterprise ICT budget allocations and ICT revenue opportunity - hardware, software and services
• Insights on ICT technology spending priorities of enterprises on key solution areas in foodservice
• Company snapshot

Scope

• ICT market growth in the foodservice vertical will be driven by rising ICT budgets of leading foodservice companies, investments in 5G networks, and a growing number of partnerships between foodservice companies and tech startups.
• Foodservice's overall ICT market was pegged at $76.3 billion in 2022 and is expected to grow at a CAGR of 9.6% during 2022-2027 to reach $120.9 billion in 2027, due to rising competition in the foodservice market, companies are expected to increase their ICT spend as digital technologies enable them to remain competitive and relevant in the market by allowing them to quickly develop products as per consumer needs, lower operational costs, and create personalized digital marketing campaigns, among others.
• GlobalData’s ICT decision makers survey reveals a positive outlook for enterprise ICT spending in foodservice, with a majority of respondents, about 68.6% from the country, claiming that there has been an increase in the enterprise ICT budget in 2023 compared to 2022.
• Cloud computing can be regarded as the most attractive market in foodservice driven by enterprises increasingly leveraging cloud to achieve operational efficiency while ensuring security and agility, and government actively promoting cloud adoption as a part of its nationwide digital initiative. The revenue opportunity for cloud computing in foodservice was pegged at $10.9 billion in 2022 and is estimated to grow at a CAGR of 14.9% between 2022-2027.
• North America sector to be the largest contributor towards ICT revenue opportunity in foodservice vertical through 2027. North American foodservice industry was pegged at $176.2 billion in 2022, and it is expected to grow at a CAGR of 6.1% during 2022-2027.

Reasons to Buy

• This Vertical Intelligence Report is based on GlobalData’s IT Customer Insight Survey carried out annually covering key ICT decision makers from enterprises operating in Foodservice vertical and GlobalData’s Market Opportunity Forecasts to 2027, to offer a thorough, forward-looking analysis of foodservice’s enterprise ICT investment priorities and ICT revenue opportunity market.
• Accompanying GlobalData’s IT Customer Insight Survey and Market Opportunity Forecasts to 2027, the report examines the assumptions and drivers behind ongoing and upcoming trends in foodservice's enterprise ICT market.
• The report offers a thorough analysis of enterprise ICT investment trends and how it has changed this year compared to previous year.
• The report also presents an analysis of enterprise ICT budget allocations by various spending areas, business functions and product/service categories and how they have changed this year compared to previous years.
• The report also presents an analysis of enterprise ICT revenue opportunity by various solution areas and key regions over the forecast period 2022-2027.
• With more than 50 charts and tables, the report is designed for an executive-level audience, boasting presentation quality.
• The report provides insights in a concise format to help executives build proactive and profitable growth strategies.
• The report provides an easily digestible market assessment for decision-makers built around research gathered from the IT decision makers in foodservice vertical, which enables executives to quickly get up to speed with the current and emerging trends in enterprise ICT investment priorities.