Some 48 million people are affected by food-borne illnesses each year, yet monitoring of the temperature of fresh foods remains largely a manual activity. That creates a big opportunity for software-driven innovations in the food safety space to provide measurable ROI and brand protection. With Chipotle having lost nearly 55% of its market value after a series of food safety scares, the market for Internet of Things (“IoT”) temperature sensors is now projected to increase by a CAGR of more than 22% over the next five years. IoT instruments offer the prospect of 24/7 safety monitoring and actionable alerts while cutting down on labor wasted on inaccurate hand records. Our Bailey Southwell & Co. sector report on this field looks at the trends driving adoption and key relevant transactions.