Global Cold Chain Monitoring Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Cold Chain Monitoring Market” is a recent report generated by MarketResearch.biz. The study and analysis were conducted using expert opinions and inputs, as well as comprehensive primary and secondary research efforts to ascertain various aspects of the cold chain monitoring market. The global cold chain monitoring market segmentation allows for deeper thought and comprehension in order to decisively assess, analyze, and study. Besides revenues for segments, the global, regional, and country-wise market revenue segmentation has been compiled in a fastidious manner for clear understanding and flow. The global cold chain monitoring market report has been segmented on the basis of application, and region.
A supply chain or logistics monitoring solution that allows for the tracking of perishable products, food items and eatables among other products to assure freshness and palatableness is known as cold chain monitoring.
The global cold chain monitoring market had a valuation of US$ 14,064 million in 2018 and is slated to witness exponential growth over the forecasted tenure. As numerous governments from around the globe emphasize improving the efficiency of supply chains that require cold chain monitoring solutions (dairy products, processed food, and frozen food among others) the demand for cold chain monitoring solutions is envisioned to grow. Uncompromising Furthermore, uncompromising regulations with respect to the shipment and storage of pharmaceutical products are also likely to provoke a rise in the demand for cold chain monitoring solutions. Another factor that could increase the demand in the global cold chain monitoring market over the forecast period is the rise in investment, both private and government in constructing refrigerated warehouses, etc. to reduce the spoilage of temperature-sensitive goods and food.
Certain pharmaceutical products are extremely temperature-reactive and require efficient real-time monitoring technologies throughout the supply chain. This, particularly in developing countries, will aid in the surge of this market’s prominence.
The advances made in the realm of connected device technologies such as the Internet of Things (IoT) and Radio Frequency Identification (RFID) are projected to unravel more opportunities in the development of contemporary cold chain monitoring solutions.
In terms of product visibility, an RFID–enabled supply chain can be considered an efficient supply chain. Smart sensors can be combined with RFID technology to track the shelf life of products and alerts can be raised if the product is not being stored at the desired temperature. It is factors such as these that will bode well for the growth of the global cold chain monitoring market.
With respect to the component, the global cold chain monitoring market has been further segmented into software and hardware. Commonly used hardware components meant for tracing and tracking undertakings include Sensor data loggers, RFID devices, telematics & telemetry devices, and networking devices. Telematic solutions allow administrators to monitor temperature and humidity levels of refrigerated cargo and to track vehicles that are in transit.
The way that hardware components interact with one another and register data is what software components decide. This segment can be further classified into two sections, cloud-based and on-premise. Cloud-based software allows for real-time monitoring and reporting of the status of the cargo. It is expected to index the quickest growth over the projection period.
On the basis of region, segmentation of the global cold chain monitoring market is as follows – North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The Asia Pacific region is slated to transpire as the quickest growing market and will open its doors to further growth opportunities in the form of long-term investments by businesses that have been deliberating on the idea. Countries such as India and China, are emerging economies that are slated to pitch in their respective contributions to help grow this market. The regional market of China is forecasted to experience tremendous growth during this time. This growth can be accredited to a booming population, an ever-growing need for transportation, expeditious industrialization, the expansion of pharmaceutical and food processing companies, the introduction of smart sensors, and the evolution of temperature monitoring technologies, among others.
Global Market Segmentation:
Global market segmentation, by distribution:
- Fruits & vegetables
- Fruit pulp & concentrates
- Dairy products
- Meat & seafood
- Processed food
- Bakery & confectionaries
Global market segmentation, by region:
- 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 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Berlinger & Co.
- Securerf Corporation
- Savi Technology
- Zest Labs
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