Cold Chain Monitoring Market Analysis

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.

Cold Chain Monitoring Market Dynamics

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  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.

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  Market 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.

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  Market 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.

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  Market 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.

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  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 14.7%. Along with that, the market value will reach up to USD 12.6 Billion during the forecast period 2022-2030. 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.

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  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 Segmentation Overview

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 14.7& 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.  

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.

Cold Chain Monitoring Market Key Player & 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 Industry Developments

• April 2024 - To bolster its sophisticated passive temperature-controlled containers, Tower Cold Chain has announced a live tracking feature in April 2024. When customers rent a KTEvolution solution for their transit needs, the system developed by ELPRO will provide them with near real-time visibility into their shipments throughout the journey. Available in both 26-litre and 57-litre sizes for parcel delivery through the KTEvolution range of products, this option monitors shock, tilt, altitude, location as well as internal/external temperatures, among other indicators. It is particularly important for pharmaceuticals that need specific temperature controls all along the way, which may include high-value or direct-to-patient deliveries, because it ensures end-to-end transparency.


• October 2023 - Artificial intelligence (AI) startup Altana launched its next-generation Atlas this week on October 2023, which creates a dynamic map of global supply chains for businesses, governments, and logistics firms who want to keep track of what’s happening within their supply chain networks at any given time around the world. Altana has worked closely with entities such as US Customs and Border Protection (CBP), Maersk -the shipping giant- and Boston Scientific, among others, helping them identify cases of forced labor within these organizations’ operations while also ensuring compliance with various trade laws besides monitoring different aspects related to supply chains through artificial intelligence systems like Atlas that are powered by natural language processing technology capable understanding human speech patterns enabling people use own words when communicating complex ideas involving tracking whereabouts goods during production process up until they reach final consumer.


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  September 2022 - India's fastest-growing cold-chain marketplace startup, Celcius Logistics, launched its smart last-mile delivery platform in September 2022. The company's new system is designed to address key pain points within India's fragile cold-supply chains by providing better visibility over goods handover between different stages along such chains where there are often gaps leading to spoilage perishable items like fruits or vegetables due to poor handling practices during transportation from farm gate through various distribution points including wholesale markets up until retail stores located in cities across India. To create an effective on-ground network of reefer vehicles, the firm has partnered with vehicle owners and automotive manufacturers, which will be integrated into the smart platform that utilizes the IMS-Inventory Management System. It is being launched initially across six metros, but plans are already underway for rollout into other tier-2 towns within the next six months, according to the company’s CEO, Mr.Bhatt

  
  

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. 

Cold Chain Monitoring Market Segmentation

Cold Chain Monitoring Components Outlook

• Software


• Telematics Devices


• Radio Frequency Devices


• Others

Cold Chain Monitoring Applications Outlook

• Beverages and Foods


• Chemicals


• Pharmaceuticals


• Others

Cold Chain Monitoring Logistics Outlook

• Warehousing


• Transportation

Cold Chain Monitoring Region Outlook

• Europe


• Asia-Pacific


• North America


• South America


• The Middle East and Africa