Cold Chain Monitoring Market Research Report ‚Äď Forecast to 2030

Cold Chain Monitoring Market Research Report‚Äď By Component (Hardware, Software, Services), By Application (Pharmaceuticals & Healthcare, Food & Beverages, Chemicals), By Logistics (Warehousing, Transportation) - Forecast till 2027

ID: MRFR/SEM/1351-CR | February 2020 | Region: Global | 110 Pages         

Cold Chain Monitoring Market Speak to Analyst Request a Free Sample

Cold Chain Monitoring Market

Cold Chain Monitoring Market will exhibit a CAGR of 14.7% in the forecast period of 2022 to 2030 and is expected to reach USD 12.6 Billion by 2030.

Segmentation
By Components Software Telematics Devices Radio Frequency Devices Others
By Applications Beverages and Foods Chemicals Pharmaceuticals Others
By Logistics Warehousing Transportation
Key Players
Companies Profiled   Zest Labs Inc. (U.S.)    Sensitech Inc. (U.S.)    Controlant EHF (Iceland)    Monnit Corporation (U.S.)    Infratab Inc. (U.S.)    Berlinger & Co. AG    NEC Corp. (Japan)    Sensitech Inc. (U.S.)    ORBCOMM (U.S.)    NXP Semiconductors N.V.
Drivers
Market Driving Forces   Growing Demand for Refrigeration in Pharmaceutical and F&B Industry   Rapid urbanization   Rising awareness of quality food   Growing health consciousness
Request a Free Sample

Cold Chain Monitoring Market Size and Overview


Globally, the Size of Cold Chain Monitoring Market is set to grow at a CAGR of  14.7% to hit USD 12.6 Billion by 2030 driven by the growing awareness among customers for better food quality and demand for packaged foods and beverages. Major drivers such as rising demand for warehousing of cold storage and increased use of packaged foods are propelling the Cold Chain Monitoring Market. Also, the growing urbanization and emergence of solutions for monitoring cold chain temperature are improving the market growth.


The lack of basic standardization of products and solutions is a major restraint for the Cold Chain Monitoring Market. Also, the spread of COVID-19 in 2020 resulted in a huge decline in market growth due to huge disruption in supply chain and production. However, in the forthcoming period, the market will revive its growth and gain its position. North America will hold the largest Cold Chain Monitoring Market Share during the forecast period.


Mainly due to the good availability of Cold chain monitoring devices and developed infrastructure for transportation and technological advancements. Especially, the US there are several providers for the solution in the cold chain monitoring Market that is highly responsible for efficient growth. Apart from that, the Asia-Pacific region is estimated to record the fastest growth during the forecast period.


COVID-19 Analysis


The spread of coronavirus disease or COVID-19 began in late 2019 from Wuhan, China. Later, it spread across several countries across the world that resulted in huge economic disruption. To prevent the spread important measures such as social distancing, lockdowns, etc. were implemented. This also caused the shutdown of different industries for several months. It also had a positive effect such as awareness about packaged food items and better cold chain monitoring equipment.


Market Dynamics



  • Market Drivers


Majorly, the rising demand for cold chain monitoring especially in the pharmaceutical industry is a major driver for Cold Chain Monitoring Market. Strict rules and regulations for the shipment and storage of pharmaceutical products can also improve market growth. The growing awareness among customers for better food quality and demand for packaged foods and beverages will be beneficial as well.  Also, the investments by private organizations and the government in this sector will push the market growth.



  • Restraints


A crucial restraint is the absence of standardization of cold chain monitoring equipment. This factor will lead to confusion among users. This will lead to the emission of carbon and greenhouse gases which can slow down the Cold Chain Monitoring Market growth during the forecast period.



  • Opportunities


The rising need to lessen the spoilage and wastage of food will lead to open new opportunities as well. Along with that, the rising need for the better quality of food and temperature-sensitive products will further result in offering several opportunities for significant growth.



  • Challenges


The rising costs can pose a huge challenge for market growth. Issues regarding installation and monitoring can increase the costs that will be challenging to solve for the market players. With technological advancements and sustainable options, these costs can be mitigated to a certain extent.



  • Cumulative Analysis


According to MRFR analysis, the Cold Chain Monitoring Market is evaluated to grow at significant growth. The Compound Annual Growth Rate (CAGR) is evaluated to reach up to 9.6%. Along with that, the market value will reach up to USD 7158.8 million during the forecast period 2018-2023. With several driving factors and trends, North America will hold the largest share in the market. Also, there are various Cold chain monitoring companies that are using various techniques to improve the market situation hampered due to coronavirus.



  • Value Chain Analysis


The value of the Cold Chain Monitoring Market will increase simultaneously with the increased use of frozen food products. With the presence of several companies across the world increasing demand for refrigeration especially for the pharmaceutical company will also elevate its value. However, the importance of storing the coronavirus vaccines, the demand for cold chain monitoring will further thrive.


Cold Chain Monitoring Market Segmentations


The Cold Chain Monitoring Market Size is segmented into application, logistics, and components. On the basis of logistics, the Cold Chain Monitoring Industry is segmented into Warehousing and Transportation.  The warehousing segment is estimated to grow at a significant CAGR of 8.6& during the forecast period.


On the basis of application, the Cold Chain Monitoring Industry is further bifurcated into Beverages and Foods, Chemicals, Pharmaceuticals, and others. In this section, the beverages and food sub-segment will contribute to the largest market share.


On the basis of components, the Cold Chain Monitoring Industry is again segmented into Software, Telematics Devices, Radio Frequency Devices, and others. In the components category, the radiofrequency devices are projected to dominate the market during the forecast period.  


Cold Chain Monitoring Market Regional Analysis


Geographically, the Cold Chain Monitoring Market is segmented into North America, South America, Europe, Middle East, and Africa. North America is estimated that to have the largest market share in the forecast period. The growing frozen food industry and rising meat consumption and sustainable investments by the key players is the main reason for the exponential growth. Also, the availability of better monitoring solutions for maintaining the performance of several cold chains will help to abide by the guidelines.


The Asia-Pacific region will record the fastest growth during the forecast period. The rising chemical industry is a major reason for the rising growth. Countries like China and India are having rapid development in the chemicals and pharmaceutical industry. Also, the increasing urbanization and demand for high-quality food products are a major reason for the rapid expansion.


Competitive Landscape


Several key players across the world play a huge role in enhancing the growth of the Cold Chain Monitoring Market. With several techniques such as market analysis, collaboration, new product launches, acquisition, expansion, partnerships, etc. they try to build a strong business portfolio. These are the following key players in the cold chain monitoring industry-



  • Infratab Inc. (US)

  • NEC Corp. (Japan)

  • Sensitech Inc. (US)

  • NXP Semiconductors N.V. (Netherlands)

  • Zest Labs (US)

  • Controlant EHF (Iceland)

  • Berlinger and Co. AG (Switzerland)

  • ORBCOMM (US)

  • Monnit Corporation (US)

  • Klinge Corporation (US)

  • ELPRO-BUCHS AG (Switzerland)

  • Lineage Logistics Holding LLC (US)

  • Verigo (US)

  • Tagbox (US)

  • Nimble Wireless (India)

  • DAIKIN Industries Ltd. (Japan)

  • SecureRF Corporation (US)

  • Safetraces (US)

  • Savi Technology (US)

  • FreshSurety (US)


Cold Chain Monitoring Market Recent Developments



  • Americold, a renowned company in 2019 acquired PortFresh Holdings. The PortFresh Holdings offers operator services for temperature control.

  • In 2020, Gubba Cold Storage announced the strengthening of its network of cold chains to support coronavirus vaccine storage.

  • ELPRO in 2020, announced the launch of a next-generation solution called LIBERO data loggers. This new product can be easily for numerous uses such as the need for ultra-low applications, dry ice, monitoring of pharmaceuticals, etc.

  • Monnit in 2020 launched a new service called “ALTA advanced Edge Gateway.” This service transmits data from the Wireless Sensors to several cloud providers.


Report Overview


The report overview of the global cold chain monitoring market is as follows-



  • Market Overview

  • COVID-19 Analysis

  • Dynamics of the Market

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Analysis

  • Recent Development


Report Score and Segmentation



  • Study Period- 2022-2030

  • Base Year-2021

  • Forecast Period- 2022-2030

  • Historical Period-2019-2020


The report score is to give substantial information about the Cold Chain Monitoring Market Trends. It highlights various aspects affecting the market growth such as opportunities, restraints, challenges, etc. Along with that, it highlights the key players and recent developments. The information collected in this report is collected from several secondary and primary sources. s


Cold Chain Monitoring Market Segmentation


By Components



  • Software

  • Telematics Devices

  • Radio Frequency Devices

  • Others


By Applications



  • Beverages and Foods

  • Chemicals

  • Pharmaceuticals

  • Others


By Logistics



  • Warehousing

  • Transportation


By Region



  • Europe

  • Asia-Pacific

  • North America

  • South America

  • The Middle East and Africa



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 12.6 Billion
  CAGR   14.7%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Component, Application, Logistics
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Zest Labs Inc. (U.S.), Sensitech Inc. (U.S.), Controlant EHF (Iceland), Monnit Corporation (U.S.), Infratab Inc. (U.S.), Berlinger & Co. AG (Switzerland), NEC Corp. (Japan), Sensitech Inc. (U.S.), ORBCOMM (U.S.), NXP Semiconductors N.V. (Netherlands)
  Key Market Opportunities   Constant investments being made by government agencies and private sector companies to roll out cold storage warehouse networks.
  Key Market Drivers Growing Demand for Refrigeration in Pharmaceutical and F&B Industry. Rapid urbanization. Rising awareness of quality food. Growing health consciousness.


Speak to Analyst Ask for Customization

Frequently Asked Questions (FAQ) :

The global cold chain monitoring market can thrive at 14.7% CAGR through the study period (2022-2030).

Berlinger & Co AG, Elpro-Buchs A G., Infratab Inc., and Zest Labs Inc. (Ecoark Holdings) are some renowned names in the cold chain monitoring market.

Intensifying competition and relationships among these players can benefit the cold chain monitoring market.

The rise in demand for convenient food can support the cold chain monitoring market growth.

Drivers and pitfalls of the cold chain monitoring market are vividly discussed in the report.

Pharmacy, warehouse, and logistics are major areas of application of cold chain monitoring solutions.

By logistics, warehousing and transportation are major cold chain monitoring market segments.