North America and Europe to lead the Global Cold Chain Monitoring Market

Market overview:

The global Cold Chain Monitoring Market was worth US$ xx million in 2019, and it is estimated to reach a valuation of US$ xx million by the end of 2025, extending at a compound annual growth rate of xx% between 2020 and 2025. As the demand for pharmaceuticals, processed foods and other temperature-sensitive products worldwide increases, the need for cold chain monitoring solutions increases.

Recent developments:

In August 2017, Orbcomm launched its next-generation cold chain monitoring solution called PT 6000, which guarantees the logistics, fuel and temperature management, maintenance and compliance of refrigerated assets in transit. The solution is available in the dual-mode or cellular LTE or 3G cellular satellite versions.

Market Drivers and Restraints:

The demand for cold chain monitoring solutions is expected to increase as several governments around the world emphasize the increased efficiency of the supply chain for processed foods, frozen foods, dairy and pharmaceutical products and other products that require monitoring of the cold chain. Solution Strict regulations on the storage and shipment of pharmaceutical products are likely to boost the demand for cold chain monitoring solutions. In particular, as the need for pharmaceutical products in developing countries increases, it is presumed to lead the growth of the global cold chain monitoring market. Some pharmaceutical products are susceptible to temperature and require effective temperature monitoring techniques to maintain the desired temperature throughout the supply chain. Temperature monitoring technology can help prevent product damage by keeping the temperature at the desired level during shipping.

On the other hand, high implementation costs and problems associated with the process and installation of cold chain monitoring solutions are foreseen to limit market development in the future.

Report Segmented as:

Based on components, the global cold chain monitoring market has been segmented into hardware and software. As it becomes more important to ensure the integrity, efficiency and safety of shipments, monitoring components are becoming an inseparable part of the cold chain.

Based on logistics, the cold chain monitoring market has been segmented in storage and transportation.

Depending on the application, the global cold chain monitoring market is segmented into fruits and vegetables, fruit pulp and concentrate, dairy products, fish, meat and seafood, processed food, medicines, bakery and confectionery, and others.

Geographical Segmentation:

Geographically, North America and Europe are expected to represent a significant portion of the global cold chain monitoring market in the coming years. Strict rules and regulations, taking into account the monitoring of cold chains, are anticipated to ensure the development of North America business in the coming years. In addition, the growing demand for frozen and refrigerated foods is expected to support regional market growth in the near future. Europe is also expected to experience healthy growth in the coming years, followed by Asia Pacific in the coming years.

Key market players:

The main players in the global market include Sensitech, Orbcomm, Berlinger & Co., Zest Labs, Controlant, Monnit, Elpro-Buchs, Savi Technology, Securerf Corporation and Infratab.

View sample and decide: 

https://www.marketdataforecast.com/market-reports/cold-chain-monitoring-market/request-sample

Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along with this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.

The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

What else? Apart from the syndicated report, our in-house team has expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

About Us:

Market Data Forecast is a firm working in the areas of market research, business intelligence and research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients.

For more information:        

Abhishek Shukla

Sales Manager at Market Data Forecast

Email: abhishek@marketdataforecast.com

Tel: +1-888-702-9626

Website: https://www.marketdataforecast.com/

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