Cold Chain Monitoring Market: By System (Hardware and Software), By Logistics (Storage (Warehouses, Cold Container), Transportation (Airways, Waterways, Roadways, Railways), By Application (Pharmaceuticals, Fruits & Vegetables, Dairy Products, Processed Food, Bakery, and Confectionary and Others) and Geography 

Cold Chain Monitoring Market size was valued at USD 5,067.2 million in 2023 and is expected to reach USD 13,256.8 million by 2030, and poised to  grow at an 11.2% CAGR from 2024 to 2030. Cold chain monitoring refers to using Internet of Things (IoT) technology to continually monitor temperature-sensitive products being transported in a “cold chain”, a supply chain of perishable and/or temperature-sensitive products such as pharmaceuticals, biologics, food and beverages, and others. Cold chain monitoring helps exports get real-time information regarding containers and detect any kind of damage on the route. In the early days transporting temperature-sensitive products became the most difficult task, the products like healthcare, medicine, fruit and vegetable, and laboratory products to solve this problem cold chain monitoring system is the real solution in the market to maintain the required temperature to stabilize the quality of the products is the major factor that drive the market.

The introduction of technology in logistics increases the benefit of transporting and lowers the risk of damage in transportation, the product is flowing across the world and requires a monitoring solution which creates the cold chain monitoring market demand. Deployment of cold chain monitoring is expensive for the transporter to install in the system which is the major restraints in the market. additionally, fish and meat transport in the cold chain become the largest market share in 2022 and is expected to continue in the forecast period. Geographically, North America held the major market share in 2022 and is expected to dominate for further years due to key players in the region.

Cold Chain Monitoring Market Key Developments:

• In April 2022, ORBCOMM Inc. announced it to provide temperature monitoring, management, and compliance for CoolKit's refrigerated vehicles. Coolkit is UK's one of the largest manufacturers of temperature-controlled vans for the healthcare & pharmaceutical, food & beverages, and agriculture industries.
• In May 2022, TagBox has announced that it is providing its AssetLens solution to Rebel Foods, the world’s largest internet restaurant company, for real-time temperature, door-open and power consumption monitoring