Cold Chain Monitoring Market to Boost Valuation to USD 7.15 Billion by 2023 :

Pune, India, November 2018/MRFR Press Release/- Market Research Future has published a cooked research report on the Global Cold Chain Monitoring Market.

Cold Chain Monitoring Market – Overview

Cold chain monitoring is gaining traction globally due to improved demand from various sectors. Market reports associated with the semiconductor and electronics industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is projected to achieve revenue levels touching USD 7.15 Bn by the end of the forecast period by 2023.

The escalation in demand for cold chain monitoring is fuelled by the surge in the refrigerated warehouses which is boosting the market’s growth. The current changes in product development are responsible for the progress of cold chain monitoring. The expansion of the market is also substantially dependent on the rise in the food & beverage and pharmaceutical sector globally. The market’s expansion is anticipated to be further fuelled by the regulatory frameworks that are being reinforced in the upcoming forecast period.

Segmental Analysis

The cold chain monitoring market globally has been segmented on the basis of application, component, logistics, and region. On the basis of component, the market has been segmented into services, software, and hardware. On the basis of applications, the market has been segmented into chemicals, food & beverages (FnB), and pharmaceuticals & healthcare. On the basis of logistics, the market has been divided into warehousing and transportation. The regions included in the overall market study are North America, Asia Pacific, Europe and the rest of the world.

Detailed Regional Analysis

The regional analysis of the cold chain monitoring market consists of regions such as North America, Asia Pacific, Europe and rest of the world. The North American region, with its inclusion of the U.S, is responsible for the most important share of the cold chain monitoring market. The market in this region is found to be driven by factors such as a growing preference for fresh produce, sustainable investments in cold chain solutions and mounting demand for cold storage in the pharmaceutical sector. Meanwhile, the enhanced economic growth and the development of cold chain monitoring in the Asia Pacific region have activated a robust demand for existing cold storage technologies and transportation. The region also has been recognized as a quickly growing region in the cold chain monitoring market owing to the growth of the manufacturing sector.

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Competitive Analysis

The diversification of the product variety in the market is raising the prospects for the advancement of the market. The organization inclination in the market is reinforcing the level of expansion that can be achieved in the current market scenario.  The development patterns are modified in tandem to the customer penchant to realize the maximum growth, and in the long run, viability. The market is at a top production level and will be able to generate better value for the firms in the market and its shareholders. The proficiency in utilizing the economies of scale is proving to be beneficial for the market’s complete growth. The market has also noticeably neutralized the market challenges and thus is promoting a boost in the number of firms in the market.

The eminent contenders shaping the cold chain monitoring market are Berlinger & Co AG, NEC Corporation, NXP Semiconductors N.V., Sensitech, Inc., Monnit Corporation, Controlant, Infratab Inc., ORBCOMM Inc., Elpro-Buchs A G., Zest Labs Inc. (Ecoark Holdings).

Industry Updates:

Nov 2018 Knife Capital, a South African venture capital firm has invested in PharmaScout, a single point solution built by Cape Town-based Internet of Things (IoT) business 5nines Technologies. PharmaScout overcomes a series of hurdles faced by healthcare professionals needing to lessen legal risk and meet the compulsory safety and quality standards of deposited temperature-sensitive pharmaceutical products. The funding will be used to hasten product rollout to pharmacies, medical practitioners and pharmaceutical warehouses while enhancing new product development for the international market.