The Global Cold Chain Tracking and Monitoring Market is experiencing significant growth due to rising demand for temperature-sensitive goods like pharmaceuticals and food products. The implementation of advanced tracking technologies ensures real-time monitoring and precise control of temperature-sensitive shipments, reducing spoilage and enhancing product safety. Cold chain tracking solutions offer improved supply chain efficiency, minimizing losses during transportation and storage. Moreover, stringent regulations in industries such as pharmaceuticals and healthcare are driving the adoption of temperature monitoring systems, further bolstering the market's expansion and the reliable delivery of perishable goods worldwide.
According to Data Bridge Market Research, the global cold chain tracking and monitoring market is expected to reach the value of USD 1,184.40 billion by 2029, at a CAGR of 14.01% during the forecast period of 2022-2029
" Increasing demand for temperature-sensitive goods surge market demand"
The increasing demand for temperature-sensitive goods, such as pharmaceuticals, vaccines, and perishable food items, underscores the critical need for efficient cold chain tracking and monitoring solutions. These solutions ensure that products maintain their required temperature throughout the supply chain, preserving their quality and safety. The accurate monitoring of temperature-sensitive shipments helps prevent spoilage, maintain efficacy, and comply with regulatory requirements. As a result, businesses are increasingly adopting cold chain tracking and monitoring systems to meet the growing demand for reliable and safe temperature-controlled logistics.
What restraints the growth of the global cold chain tracking and monitoring market?
" High initial investment can impede the market growth”
The high initial investment required for implementing cold chain tracking and monitoring systems can be a deterrent for businesses, especially smaller players with limited budgets. The cost includes acquiring and installing advanced tracking technologies, training staff, and establishing a robust infrastructure for real-time monitoring. The financial burden may discourage some organizations from adopting these systems, potentially leading to the use of less efficient cold chain logistics or reliance on manual monitoring methods, which could impact product safety and overall supply chain efficiency.
Segmentation: Global Cold Chain Tracking and Monitoring Market
The global cold chain tracking and monitoring market is segmented on the basis of system, logistic solution, and end user
- On the basis of system, the cold chain tracking and monitoring market is segmented into hardware and software.
- On the basis of logistic solution, the cold chain tracking and monitoring market is segmented into storage and transportation.
- On the basis of end user, the cold chain tracking and monitoring market is segmented into healthcare, pharmaceuticals, food and beverage, chemical, and others
Regional Insights: North America dominates the Global Cold Chain Tracking and Monitoring Market
North America's dominance in the cold chain tracking and monitoring market is driven by the region's substantial demand for chilled and frozen food products, including dairy, vegetables, and fruits. The vast food supply chain necessitates stringent temperature control and monitoring to ensure product safety and quality. The high demand for perishable goods within North America's extensive food industry creates a significant need for efficient cold chain tracking and monitoring solutions, solidifying the region's leading position in the market.
Asia-Pacific is projected to experience substantial growth in the cold chain tracking and monitoring market from 2022 to 2029, primarily driven by the expanding chemical industry and rapid development in the chemicals and pharmaceutical sector within the region. The rising demand for temperature-sensitive chemicals and pharmaceutical products necessitates efficient cold chain logistics to maintain product integrity and safety. As a result, the adoption of cold chain tracking and monitoring solutions is expected to witness significant uptake, driving market growth in the Asia-Pacific region.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-cold-chain-tracking-and-monitoring-market
Recent Developments in Global Cold Chain Tracking and Monitoring Market
- In 2021, Sensitech Inc. (US) introduced several new products, including TempTale GEO Ultra and its Dry Ice variant. The Dry Ice version, like TempTale GEO Ultra, is connected to ColdStream Select and can monitor temperatures between -95°C and +55°C. Since the recently released products include an alkaline non-lithium battery, the IATA (international air transport association) dangerous goods label is not necessary.
The Prominent Key Players Operating in the Global Cold Chain Tracking and Monitoring Market Include:
- Sensitech Inc. (U.S.)
- ELPRO-BUCHS AG (Switzerland)
- Berlinger & Co. AG (Switzerland)
- SecureRF Corporation (U.S.)
- Monnit Corporation (U.S.)
- Savi Technology (U.S.)
- Controlant (Iceland), Americold (U.S.)
- ORBCOMM (U.S.)
- LINEAGE LOGISTICS HOLDING, LLC (U.S.)
- Klinge Corporation (U.S.)
- DAIKIN INDUSTRIES, Ltd. (Japan)
- Tippmann Group / Interstate Warehousing (U.S.)
- Maven Systems Pvt. Ltd. (India)
- Tagbox (India)
- Zest Labs, Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global cold chain tracking and monitoring market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Cold Chain Tracking and Monitoring Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
