What is Cold Chain Monitoring Market?
Cold chain monitoring is a temperature-controlled supply chain. It is established to provide the uninterrupted series of refrigerated production, storage and distribution processes. The constant cold chain temperature monitoring is important to find out whether the product has been compromised as it reaches the consumer. Moreover, the workers who are responsible for the management of cold chain has access new technology to track temperatures in these controlled environments. With this technology the worker can keep an eye on temperatures and ensure they remain within predetermined.
Highlights from Cold Chain Monitoring Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Sensitech Inc. (United States), ORBCOMM (United States), Berlinger & Co. AG (Switzerland), Monnit Corporation (United States), ELPRO-BUCHS AG (Switzerland), Controlant (Iceland), SecureRF Corporation (United States), Savi Technology (United States), Zest Labs, Inc. (United States) and Infratab, Inc. (United States) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Cold Chain Monitoring market throughout the forecasted period.
Sensitech Inc. (United States), ORBCOMM (United States), Berlinger & Co. AG (Switzerland), Monnit Corporation (United States), ELPRO-BUCHS AG (Switzerland), Controlant (Iceland), SecureRF Corporation (United States), Savi Technology (United States), Zest Labs, Inc. (United States) and Infratab, Inc. (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are NXP Semiconductors N.V. (Netherlands), NEC Corporation (Japan) and Elpro-Buchs A G. (Switzerland). Cold Chain Monitoring Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Pharmaceuticals & Healthcare, Food & Beverages, Chemicals and Others (Agriculture and Manufacturing) |
Temperature Type | Chilled,Frozen |
Offerings | Hardware,Software |
Logistics | Storage,Transportation |
On the basis of geography, the market of Cold Chain Monitoring has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rapid Investments in Building Refrigerated Warehouses and Government Efforts
Market Growth Drivers:
Rising Demand for Temperature Sensitive Drugs, and Better Food Quality and Increasing Need to Reduce Food Wastage
Challenges:
Stiff Competition Among the Major Players
Restraints:
Decline in Trade and Industrial Activities
Opportunities:
Government Focus on Increasing the Supply Chain Efficiency of Pharmaceutical Sector and Rapid Urbanization is Boosting the Market Growth
Key Target Audience
Cold chain monitoring service provider, Government associations, Research organizations, software vendors and Others
Market Leaders & Development Strategies
On June 2019, Yokogawa Electric Corporation has agreed to acquire stakes of Finland-based Sensire Ltd. to begin collaborating in the cold chain monitoring field. It aims to develop and provide new services that combine Yokogawa's Industrial Internet of Things (IIoT) architecture, and Sensire's cold chain temperature monitoring solutions.
On December 2019, Kii has launched Integrated Cold Chain Marketplace and Monitoring Service. It solves the problems such as unorganized and fragmented provider market, lack of end-to-end visibility into the performance of cold chains, and others.