Global Cold Chain Monitoring Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Cold Chain Monitoring Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global cold chain monitoring market report has been segmented on the basis of component type, application, logistics, and region.
Global Cold Chain Monitoring Market: Overview
Cold chain monitoring is a logistics or temperature controlled supply chain monitoring solutions that involves continuous refrigeration of the products from production to its handling, transportation, storage, and delivery. Monitoring cold chain supply supports tracking of the perishable eatables, products, and food items with assured palatability, freshness, and durability.
Global Cold Chain Monitoring Market: Dynamics
Cold chain monitoring is gaining high significance in the pharmaceuticals and food & beverage sectors as the cold chain systems and process are primarily used by these sectors to control temperature of their products. In addition, cold chain monitoring in food and beverage industries offers benefits such as reduced scope of spoilage and contamination, increased supply chain and productivity efficiency, increased shelf life, and many others. Aforementioned are major factors expected to drive growth of the potential market.
Moreover, favourable issuing policies by government authorities that impacts supply chain efficiency for fast-growing pharmaceuticals sector across the globe, due to benefits offered by cold chain monitoring including reduced cycle time, improved inventory accuracy, and reduced operational costs. In addition, pharmaceutical industry is currently witnessing high R&D activities in which the new class of drugs called biologics are being produced, and is witnessing emergence of different types of precision medicine breakthroughs in the form of stem cells such as biomarker testing, cellular therapies, and regenerative medicine. Transportation of these drugs and medicines or material come under the ambit of cold chain supply and monitoring. In addition, materials such as vaccines and blood products also need cold chain for preservation. High proliferation of cold chain for temperature sensitive drugs and materials through aforementioned factors in pharmaceutical sector are among major factors expected to boost growth of the global market.
Furthermore, increasing emergence of technologies for advanced control of assets such as automated warehouse and efficient cold storage technologies are expected to create significant revenue growth opportunity for players in the global market in the coming 10 years.
However, high cost associated with the implementation of cold chain system is a major factor expected to hamper growth of the global market to a certain extent.
Global Cold Chain Monitoring Market: Segment Analysis
Among the application segment, the food & beverage segment is expected to register highest CAGR and dominate the global market in over the forecast period. This is primarily attributed due to increasing demand for high quality food products and durable food products delivery system among various food and beverage industries across the globe.
Global Cold Chain Monitoring Market: Region Analysis
The market in the North American is expected to grow at highest CAGR in the global cold chain monitoring market during the forecast period, owing to high dependence of the food & beverages industry in countries on cold chain monitoring solutions in this region. Whereas, emerging economies in Asia Pacific such as China and India is expected to register second highest revenue growth during the forecast period, owing to growing pharmaceuticals and food & beverage sector in the countries in this region. Furthermore, growing demand for smart cold storage in transportation and ware houses for storing generic drugs is another factor expected to support growth of the cold chain monitoring market in the Europe and Latin America regions.
Global Cold Chain Monitoring Market Segmentation:
By Component Type:
- Cloud Based
- RFID Devices
- Networking Devices
- Sensors & Data Loggers
- Telematics & Telemetry Devices
- Medium-Range Subsonic
- Food & Beverages
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2017 Estimated Year 2018 Forecast Period 2018–2027 Revenue in US$
- Sensitec, Inc
- ORBCOMM, Inc.
- Berlinger & Co. AG
- Monnit Corporation
- Elpro – Buchs AG
- Controlant ehf
- SecureRF Corporation
- Savi Technology, Inc.
- Zest Labs, Inc.
- Infratab, Inc.
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