Cold Chain Monitoring Market to Capture a 14.7% CAGR from 2022 to 2030

Overview

The cold chain monitoring market is set to grow at a CAGR of 14.7% during the forecast period 2022 to 2030. As per the market research report, the market will hit USD 12.6 Billion in terms of valuation by the end of 2030. The market growth will be driven by growing demand for refrigeration in the pharmaceutical and F&B industry. Based on the research report, the surging need for refrigeration in the pharmaceutical (healthcare) and food & beverage industry will accelerate growth in the market till 2030. Although strict regulations concerning the storage will have a negative impact on the global cold chain monitoring market’s growth during this  period. Monitoring and installation issues will likely become a threat. The cold chain monitoring market report published by expert analysts includes primary and secondary data and suggests that logistics, application, and components segments are anticipated to witness tremendous growth till 2030. Factors such as maintaining a secure cold chain for vaccines will be major growth factors during the forecast period and demand for unfailing controlled room temperature solutions is also said to be supporting the market globally, however, the growth projected for the forecast period could be affected by environmental concerns which could negatively affect activities taking place across the market. Environmental concerns like the emission of greenhouse gases is another challenge the market could face till 2030.

Market Segmentation

The cold chain monitoring market is segregated into different market segments based on logistics, application, and components. For a comprehensive analysis of the market, the logistics, application, and components segments are further split into smaller segments. The logistics segment is categorized into hardware, software, and services. Furthermore, based on application, the global market is also segmented into pharmaceuticals & healthcare, food & beverages, and chemicals. Based on the market segmentation analysis, the report covers market forecasts. On the basis of components, the global market is split into sub segments including warehousing, and transportation.

Constant investments being made by government agencies will support the market growth from 2022 to 2030. As per the market research report, the global market for cold chain monitoring is anticipated to grow at a healthy rate across all the logistics, application, and components segments. However, the presence of active threats such as high implementation cost could hamper the market growth. Business activities across the supply chain have also been examined and studied by supply chain industry’s experienced analysts. The cold chain monitoring market research report covers findings with predictions and forecasts till 2030.

Regional Overview

The cold chain monitoring market, with its segments, is present in different parts of the world. Supply chain based regional markets are also covered in the market research report. The regional markets are Asia-Pacific, Europe, North America, the Middle East and Africa and the rest of the world. Emphasis made by the government to improve the efficiency of supply chains is anticipated to be a major factor for growth across the supply chain space during the forecast period. The regional market in North America is classified as the United States, Mexico, Canada, and others. The supply chain sector based regional markets in Europe are split into Italy, Germany, France, and the United Kingdom. In the Asia Pacific region, the market is segmented into China, India, Japan, and others. supply chain based businesses in these regional markets are anticipated to grow due to strict regulations regarding shipment of pharmaceutical products during the forecast period 2022 to 2030. Although the market’s growth could be affected by  supply and demand gaps. The analysts have also segmented markets of the Middle East, Africa, and the rest of the world.

Competitive Landscape

Supply chain based organizations are profiled in the market research report. The cold chain monitoring market along with companies and  segments have been studied. The analysis of supply chain based business is also done to identify key challenges and strengths of these companies. The global cold chain monitoring market research report covers SWOT analysis, Porter’s Five Force analysis of major supply chain related organizations. The strategy and other key details of these companies for the forecast period 2022 to 2030 are covered in the report. Rapid urbanization and rising awareness about quality foods is anticipated to support the market growth as the market is set to grow at a CAGR of 14.7% and reach a value of USD 12.6 Billion by 2030.

Industry News

Lineage Logistics LLC, a fast-growing cold storage company, announced today that it has purchased a cold chain rail operator in order to build a "seamlessly optimized" supply chain solution for its food and beverage customers. Lineage headquartered in Novi, Michigan, acquired Cryo-Trans, the largest private fleet of cold chain railcars in North America. Over 2,200 refrigerated and insulated railcars are owned by the Maryland-based company, which handles over 40,000 annual rail shipments. Cryo-Trans' rail management software also allows for real-time monitoring, tracing, and expediting of rail shipments.