The cold chain monitoring global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cold Chain Monitoring Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The cold chain monitoring market size has grown rapidly in recent years. It will grow from <b>$5.52 billion in 2023 to $6.44 billion in 2024 at a compound annual growth rate (CAGR) of 16.7%. </b> The growth in the historic period can be attributed to demand for fresh produce, healthcare industry growth, quality and safety assurance, supply chain optimization, logistics industry evolution.
The cold chain monitoring market size is expected to see rapid growth in the next few years. It will grow to <b>$11.82 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%. </b> The growth in the forecast period can be attributed to rising global demand, expanding pharmaceutical industry, regulatory stringency, focus on food safety, integration of blockchain, sustainability initiatives. Major trends in the forecast period include pharmaceutical supply chain demands, focus on sustainability.
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Scope Of Cold Chain Monitoring Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cold Chain Monitoring Market Overview
Market Drivers –
The growing demand for pharmaceutical products is expected to propel the growth of the cold chain monitoring market going forward. Pharmaceutical products refer to substances used for the diagnosis, treatment, prevention, or cure of diseases and medical conditions in humans and animals. Cold chain monitoring keeps inside environment colder and unaffected by outside temperature, which helps in the transportation of pharmaceutical products safely. For instance, according to an annual report published by the Government of India, Ministry of Chemicals & Fertilizers, Department of Pharmaceuticals, India’s drug and pharmaceutical exports increased to $24.62 billion in 2021–22. Therefore, the increase in demand for pharmaceutical products will drive the cold chain monitoring market.
Market Trends –
Technological advancement is a key trend gaining popularity in the cold chain monitoring market. Major companies operating in the market are introducing advanced technologies to strengthen their market position. For instance, in 2022, Disrupt-X, a UAE-based IoT development company offering full-stack IoT platform solutions, launched an IoT-based cold storage monitoring solution for detecting temperature and humidity levels in cold storage facilities. The Cold Storage Monitoring Solution from Disrupt-X allows users to detect temperature and humidity fluctuations from the comfort of their office or the convenience of their smartphone. It employs Sigfox / Lora WAN-based devices to send accurate humidity and temperature data levels to the cloud platform and mobile app regularly.
The cold chain monitoring market covered in this report is segmented –
1) By Temperature Type: Frozen, Chilled
2) By Components: Hardware, Software
3) By Logistics: Storage, Transportation
4) By Applications: Beverages and Foods, Chemicals, Pharmaceuticals, Other Applications
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Regional Insights –
North America was the largest region in the cold chain monitoring market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cold chain monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the cold chain monitoring market report are Elpro-Buchs AG, Sensitech Inc., Monnit Corporation, Berlinger & Co. AG, Klinge Corporation, Savi Technology, Zest Labs Inc., Daikin Industries, Lineage Logistics Holdings LLC, Ambetronics Engineers Pvt. Ltd., GND Solutions India Pvt. Ltd., Accent Systems S.L., Trailermatics, Tenova S.p.A, MosChip Technologies Limited, ORBCOMM Inc., Geotab Inc., Controlant, Infratab, Americold Logistics LLC, Hanwell Solutions Limited, Securerf Corporation, Temperature Monitoring Solutions Africa, Honeywell International Inc., Emerson Electric Co., Schneider Electric SE, Rockwell Automation Inc., Mitsubishi Electric Corp., General Electric Co., Huawei Technologies Co. Ltd.
Table of Contents
1. Executive Summary
2. Cold Chain Monitoring Market Characteristics
3. Cold Chain Monitoring Market Trends And Strategies
4. Cold Chain Monitoring Market – Macro Economic Scenario
5. Global Cold Chain Monitoring Market Size and Growth
…
31. Global Cold Chain Monitoring Market Competitive Benchmarking
32. Global Cold Chain Monitoring Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Cold Chain Monitoring Market
34. Cold Chain Monitoring Market Future Outlook and Potential Analysis
35. Appendix
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