The Cold Chain Monitoring Market Size was valued at USD 5.62 billion in 2022, and expected to reach USD 20.02 billion by 2030, and grow at a CAGR of 17.2% over the forecast period 2023-2030.
Cold Chain Monitoring refers to maintaining a certain temperature of products in a cold storage area by installing different control tools and sensors. Maintaining a high temperature for cold-chain drugs is essential to prevent changes in taste and captivity or the overall quality that can occur when shipping arrives and varies at the recommended temperature. Continuous monitoring of the cold chain is key to maintaining the integrity and quality of medicines, vaccines, and other ingredients. The effective monitoring of prescription drugs has been proven to help extend the shelf life of these products. Clinical cold series monitoring also helps to record data seamlessly. Effective monitoring and management depend on the software and hardware programs selected for tracking purposes. Cold chain monitoring is commonly used in the food and beverages, and pharmaceutical industries in an effort to maintain a supply chain controlled by temperature control.
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KEY DRIVERS:
Increased accessibility is driving up demand for generic drugs
Global demand for temperature-sensitive drugs is increasing
Rising demand for higher food quality, as well as the need to reduce food waste
RESTRAINTS:
Rising concerns about greenhouse gas emissions
High implementation costs
OPPORTUNITIES:
Availability of Cold chain logistics in developing countries
Improved asset control in warehouses through the use of automation and cold storage technologies
CHALLENGES:
The difficulties involved in installing and monitoring cold chain monitoring solutions
COVID-19 has had a severe impact on the global economy as well as all industries. To stop the plague from spreading, governments in several countries have established borders. The initial phase of the epidemic's global shutdown in many countries has had a significant influence on people's lives and quality of life. As a result, the global supply chain has been shattered. The global economy has shrunk as commodity demand has decreased considerably. Due to the outbreak, which has caused a lack of immature materials, production in all industries has been slowed. Productivity declines are caused by variables such as depreciation and supply chain disruption.
Cold chain monitoring market had a positive impact such as awareness about packaged food and better cold chain monitoring equipment.
Based on Component, the cold chain monitoring market has also been broken down into hardware and software. Monitoring components become an integral part of the cold chain as ensuring the integrity, efficiency, and safety of shipping are paramount. Software components and computer systems play a key role in effectively controlling cold chain monitoring. The most widely used computer tracking and tracking software components include RFID devices, sensor data loggers, network devices, and telematics and telemetry devices. Part of the telematics & telemetry devices are expected to record rapid growth in the forecast period. Software components determine how hardware components involved in the cold chain monitoring process interact and log data. Part of the software is continuously fragmented into cloud and cloud-based. The cloud-based segment is expected to record rapid growth during the forecast period. Cloud-based software enables real-time monitoring of temperature and status reporting. Cloud-based software also helps to improve the efficiency and performance of cold series, especially during long-distance travel. Cloud-based object management software, robots, barcode scanners, and RFID technology can speed up product identification processes and significantly reduce costs by significantly reducing operating costs per unit.
Based on Logistics, the cold chain monitoring market has also been broken down into Transportation and warehousing. The transportation sector is expected to emerge as the fastest growing segment in the forecast period. Growth can be driven by growth in the trade of food, beverage, and pharmaceutical products. Partial growth may be due to increased demand for remote monitoring and tracking of goods transported by refrigerated trucks. Remote temperature monitoring solutions can help prevent heat-sensitive products from damage and avoid subsequent financial losses. Remote temperature monitoring solutions can also help prevent any public health risks arising from the use of food and drugs that are not stored at the required temperature. Thus, remote monitoring solutions can be very important in maintaining product quality and product safety on the go.
BY COMPONENT
Hardware
Software
BY TEMPERATURE TYPE
Frozen
Chilled
BY LOGISTICS
Transportation
Warehousing
BY APPLICATIONS
Beverages and Foods
Pharmaceuticals
Chemicals
Others
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The cold chain monitoring market is also divided into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Asia Pacific is expected to emerge as a fast-growing regional market and open up significant growth opportunities for companies considering long-term investment. Emerging economies, such as India and China, are expected to contribute to regional market growth. Growing population, rapid industrial development, continued roll-out of transportation networks and warehousing, and increased demand for processed and canned food items are expected to further boost regional market growth. India and China are expected to contribute significantly to regional market growth.
The Chinese regional market is expected to witness significant growth in the forecast period. Growth may be due to a number of factors, such as advances in temperature monitoring technology, the emergence of intelligent sensors, and the growth of the pharmaceutical and food industries, among others. The growth of the biopharmaceutical industry in China is expected to further advance the need for solutions to monitor cold chains in China. Strict laws imposed by the Chinese government to ensure food quality also encourage cold chain operators to use temperature monitoring solutions.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The key players in the cold chain monitoring are Sensitech, Monnit, Infratab, NXP Semiconductors N.V, Controlant, ORBCOMM, Elpro-Buchs, Berlinger, NEC Corp, Zest Labs, Klinge Corporation, Verigo, Nimble Wireless, SecureRF Corporation, Savi Technology, Lineage Logistics Holding, Tagbox, DAIKIN Industries, Safetraces, FreshSurety and other key players.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 5.62 Billion |
| Market Size by 2030 | US$ 20.02 Billion |
| CAGR | CAGR of 17.2% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Component (Hardware, Software) • By Temperature Type (Frozen, Chilled) • By Logistics (Transportation, Warehousing) • By Application (Beverages And Foods, Pharmaceuticals, Chemicals, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Sensitech, Monnit, Infratab, NXP Semiconductors N.V, Controlant, ORBCOMM, Elpro-Buchs, Berlinger, NEC Corp, Zest Labs, Klinge Corporation, Verigo, Nimble Wireless, SecureRF Corporation, Savi Technology, Lineage Logistics Holding, Tagbox, DAIKIN Industries, Safetraces, FreshSurety and other key players. |
| DRIVERS | • Increased accessibility is driving up demand for generic drugs. • Global demand for temperature-sensitive drugs is increasing. • Rising demand for higher food quality, as well as the need to reduce food waste |
| Restraints | • Rising concerns about greenhouse gas emissions. • High implementation costs. |
The market value will be expected to reach USD 14.5 billion by 2028, and grow at a CAGR of 17.2% over the forecast period 2022-2028.
The market has been segmented with respect to components, temperature type, logistics and application.
Cold chain monitoring market had a positive impact such as awareness about packaged food and better cold chain monitoring equipment due to COVID-19 epidemic.
Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Cold Chain Monitoring Segmentation, by component
8.1 Introduction
8.2 Hardware
8.3 Software
9. Cold Chain Monitoring Segmentation, by temperature type
9.1 Introduction
9.2 Frozen
9.3 Chilled
10. Cold Chain Monitoring Segmentation, by logistics
10.1 Introduction
10.2 Transportation
10.3 Warehousing
11. Cold Chain Monitoring Segmentation, by application
11.1 Introduction
11.2 Beverages and Foods
11.3 Pharmaceuticals
11.4 Chemicals
11.5 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13.Company Profiles
13.1 NXP Semiconductors N.V
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Sensitech
13.3 Monnit
13.4 Infratab
13.5 Controlant
13.6 ORBCOMM
13.7 Elpro-Buchs
13.8 Berlinger
13.9 NEC Corp
13.10 Zest Labs
13.11 Klinge Corporation
13.12 Verigo
13.13 Nimble Wireless
13.14 SecureRF Corporation
13.15 Savi Technology
13.16 Lineage Logistics Holding
13.17 Tagbox
13.18 DAIKIN Industries
13.19 Safetraces
13.20 FreshSurety
13.21 Others
14.Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share analysis
14.3 Recent Developments
15.Conclusion
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