article thumbnail

How IoT Unlocks Uninterrupted Hypergrowth for Retail and CPG

Acuvate

The worldwide internet of things in the retail sector was worth $ 31.99 billion in 2020 and is anticipated to increase at a compound annual growth rate (CAGR) of 26% between 2021 and 2028. Companies are continuously on the lookout for reducing their costs and improving productivity. IoT Use Cases in Retail & CPG.

article thumbnail

Asset Management in CPG using Digital Twins

Acuvate

Characterized by high pace, low margins, and extremely tight competition, CPG companies must safely and sustainably deliver products that provide exceptional experiences and delight customers. Billion by 2028. Asset Management in CPG using Digital Twins: Benefits. The global digital twin market was valued at USD 6.5

article thumbnail

IoT-based Asset Management 101

Acuvate

billion by 2028. Manufacturing companies are gaining better visibility into their operations and significantly improving them by providing a digital identity to their physical assets with IoT-based solutions. This further helps the logistics companies track driver activities and ensure timely cargo delivery.