The global cold chain monitoring market size is expected to reach USD 12.95 Billion in 2028 and register a steady revenue CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to rising demand for temperature-controlled supply chains in food & beverages industries. Increasing demand for cold chain business is driving the need for better monitoring solutions. Absence of monitoring solutions could result in reducing product effectiveness, especially for drugs and pharmaceutical products, or even pose a risk to life. Rising need to ensure safety and quality of products is boosting utilization of cold chain monitoring solutions where products are kept under prescribed temperature requirements.
Moreover, rise of effectiveness and popularity of generic drugs, biologics, and processed and frozen food items respectively is boosting utilization of cold chain monitoring solutions in order to increase supply chain efficiency. Inability to control or monitor temperature across the global food supply chain is contributing significantly to increasing food waste. Rising concerns regarding food security, safety, and integrity is resulting in rising focus and on improvement of inefficiencies in the cold chain. These factors are driving growth of the cold chain monitoring market to a significant extent. Changing dietary habits of consumers and improving living standards are resulting in shifting preference towards processed and packaged foods and products. Food processing companies are increasingly adopting cold chain monitoring solutions to meet rapidly rising demand for processed foods as these products require accurate temperature-controlled storage facilities to prevent spoilage and food waste as a result.
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The latest study provides an insightful analysis of the broad competitive landscape of the global Cold Chain Monitoring market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Cold Chain Monitoring market and pinpoint the fundamental growth trends.
The major companies Covered in the report are:
ORBCOMM, Sensitech Inc., Berlinger & Co. AG, Monnit, Controlant, ELPRO-BUCHS AG, Veridify Security, Savi Technology, Zest Labs, Inc., and Infratab, Inc
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The report assesses the profound changes in this business setting caused by the COVID-19 outbreak and considers the prominent market aspects that have been severely disrupted by the pandemic. The report thus expounds on the rapidly changing market scenario in this COVID-19 era, which aims to help businesses involved in this sector overcome the pandemic’s gripping effects and formulate new growth strategies to boost the growth of the market.
Segments Covered in this report are:
- Offering Outlook (Revenue, USD Billion; 2018–2028)
- RFID Devices
- Networking Devices
- Sensors & Data Loggers
- Telematics & Telemetry Devices
- Logistics Outlook (Revenue, USD Billion; 2018–2028)
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Food & Beverages
- Pharmaceuticals & Healthcare
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Global Cold Chain Monitoring Market Highlights:
- In December 2020, ORBCOMM, which is a global provider of IoT solutions, announced that it is poised to support its transportation customers in the global distribution of COVID-19 vaccine by offering its industry-leading cold chain telematics solutions. The IoT solutions of ORBCOMM offers end-to-end tracking, monitoring, and control of refrigerated trailers, sea containers, and dry vans throughout the supply chain on rail, road, and sea.
- Hardware segment accounted for largest revenue share in 2020. Increasing utilization of advanced hardware to increase efficiency of cold chain monitoring systems is expected to continue to drive revenue growth of this segment.
- Storage segment revenue is expected to expand at a rapid CAGR during the forecast period. The advent of more sensitive products such as biologics, which require proper packaging with monitoring solutions, has been driving rising demand for cold chain storage facilities with advanced monitoring technologies.
- Food & beverages segment accounted for a significantly large revenue share in the cold chain monitoring market in 2020. Changing diet and improving living standards of consumers has resulted in shift in preference towards quality processed foods and products, which has increased utilization of cold chain monitoring solutions in food & beverage industries as processed foods require sensitive and accurate temperature-controlled storage facilities.
- Asia Pacific accounted for largest revenue share contribution to the global cold chain monitoring market in 2020. Increasing initiatives by governments to reduce public health risks caused by consumption of ineffective pharmaceuticals is driving demand for and deployment of more effective remote motoring solutions.
Key Parameters Analyzed in This Section:
- Company Profiles
- Gross Revenue
- Profit margins
- Product sales trends
- Product pricing
- Industry Analysis
- Sales & distribution channels
- North America
- Latin America
- Middle East & Africa
- Asia Pacific
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- Besides offering a vivid depiction of the global Cold Chain Monitoring business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
- The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2020-2028).
- The report scrutinizes the salient factors influencing the growth of the market in the near future.
- The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.
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Key Questions Answered
What is the impact of COVID-19 on the global Cold Chain Monitoring Market?
What are the top strategies that companies adopting in Cold Chain Monitoring Market?
What are the challenges faced by SME’s and prominent vendors in Cold Chain Monitoring Market?
Which region has the highest investments in Cold Chain Monitoring Market?
What are the latest research and activities in Cold Chain Monitoring Market?
Who are the prominent players in Cold Chain Monitoring Market?
What is the potential of the Cold Chain Monitoring Market?
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