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.
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.
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.
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