- Hardware
- Software
Cold Chain Monitoring Market size was valued at USD 5,067.2 million in 2022 and is expected to reach USD 13,256.8 million by 2029, growing at an 11.2% CAGR from 2023 to 2029. 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
Cold Chain Monitoring Market Summary
Study Period
2023-29
Base Year
2022
CAGR
11.2%
Largest Market
North America
Fastest Growing Market
North America
Cold Chain Monitoring Market Dynamics
The increasing demand for temperature-sensitive product transport across the world is the major market driver in the Cold Chain Monitoring Market during the forecast period. Pharmaceutical products along with healthcare products, such as drugs, vaccines, insulin, and derived blood products are rising rapidly across the world, transport of these drugs become a critical phase to transport and prevent any environment variations. Change in the temperature of healthcare products loses the potency to cure, therefore, it becomes ineffective in many treatments. Hence, this will drive the global market growth at a significant rate.
Asia-Pacific Got Significant Share Of
Cold Chain Monitoring Market Regional Analysis
The cold chain monitoring market in the asia pacific hold a significant revenue share in 2022, and, in the following years, it is predicted to increase rapidly. This is attributed to the increasing demand for heat-sensitive product transport across the region. Asian countries have different climatic conditions that vary from country-to-country transport of products become more critical in the region, China with humid and cold climate becomes a challenge for the transporter, and cold chain monitoring become a real solution in the region which results increases in the demand across the region. North America is the largest exporter of perishable products like fish, meat, seafood, and many pharmaceutical products, it become important control the temperature while transporting. Hence, North America holding the major market share in the global market and is expected to dominate in the market and continue it dominancy in the forecast years due to global key players in this region.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The report provides granular level information about the market size, regional market share, historic market (2018-2022), and forecast (2023-2029).
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies.
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
- The report tracks recent innovations, key developments, and start-up details that are actively working in the market.
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario.
Cold Chain Monitoring Market Segmentation
By System Type
By Logistics
- Storage
- Transportation
By Application
- Pharmaceuticals
- Fruits & Vegetable
- Dairy Products
- Processed Food
- Bakery and Confectionary
- Others
Frequently Asked Questions
The cold chain monitoring market size was valued at USD 5,067 million in 2022 and is expected to reach USD 13,256 million by 2029.
The cold chain monitoring market is poised to grow at a significant CAGR of 11.2% from 2022 to 2028.
The leading players in the Cold Chain Monitoring Market are; ORBACOMM, Sensitech, Elpro-Buches, Monnit, Controlant, Berlinger & Co, Infratab, Inc., and Hanwell Solutions, Americold Logistics
- ORBACOMM
- Sensitech
- Elpro-Buches
- Monnit
- Controlant
- Berlinger & Co
- Infratab, Inc
- Hanwell solutions
- Americold Logistics