Asia-Pacific Cold Chain Monitoring Market By Component (Hardware and Software), Logistics (Storage and Logistics), Application (Pharmaceutical and Healthcare, Food and Beverage, Chemicals), Country (China, Japan, India, South Korea, Australia, Singapore, Indonesia, Thailand, Malaysia, Indonesia, Philippines, and Rest of Asia-Pacific) – Industry Trends and Forecast to 2026
A cold chain monitoring is a monitoring solution being utilized during supply chain management. It helps in keeping track of the temperature, location, humidity and various other factors which can deteriorate the product properties and so it also helps in maintaining the levels of all the factors.
It helps in reducing the cycle time, operational costs and increases the shelf life of the products, productivity and supply chain efficiency. They also help to keep track of the inventory and helps in increasing its efficiency.
Many sensors and actuators are used for the monitoring process to check on the temperature and humidity levels. Sensors help in proper integration of cold chain monitoring from processing and production, transportation, storage to delivery and also provide high performance and up-to-date temperature data in any environment.
A cold chain is considered as one of the common practice in the industries such as pharmaceutical and food industries as these industries are particularly sensitive to temperature fluctuations.
Asia Pacific cold chain monitoring market is projected to register a healthy CAGR of 14.8% in the forecast period of 2019 to 2026.
Asia-Pacific cold chain monitoring market is segmented into following notable segments which are component, logistics, and application.
On the basis of component, the market is segmented into hardware and software.
In August 2017, Orbocomm had launched next generation cold chain monitoring solution named as ORBCOMM’s PT 6000. This solution includes sensors, connectivity and CargoWatch application. This system offer complete visibility and control over the cold chain, which helps in ensuring temperature of cargo during supply chain. This will in turn propel the growth of cold chain monitoring solutions market.
On the basis of logistics, the market is segmented into storage and transportation.
In October 2018, Elpro Buchs AG received award for best global temperature control. The company had received award for its creative thinking which tends to introduce the new technology for supply chain operation. This new device has service life of more than 4 years.
On the basis of application, the market is segmented into pharmaceutical and healthcare, food and beverages, chemicals.
In January 2019, Americold announced the acquisition of the PortFresh Holdings, which provides temperature-controlled operator services. This acquisition would help the Americold to get access in order to port of Savannah for trade.
Some of the major players operating in this market are Sensitech Inc., ORBCOMM, Berlinger & CO., Monnit Corp., Controlant, ELPRO-BUCHS AG, SecureRF Corporation, Savi Technology, Zest Labs, Infratab Inc., LINEAGE LOGISTICS HOLDINGS LLC, Klinge Corporation, DAIKIN INDUSTRIES Ltd., Nimble Wireless, Tagbox, Verigo, FreshSurety, Safetraces and others.
In February 2019, SafeTraces announced the partnership with Mérieux NutriSciences, for providing fully integrated solutions which would help the manufacturers to produce while managing the plant sanitation processes and also by decreasing the risk of contamination.
In October 2018, SafeTraces announced the launch of the sanitation verification solution and the DNA barcode application system for items which are produced freshly and that can be connected with block chain based system.
In January 2019, Americold announced the acquisition of the PortFresh Holdings, which provides temperature-controlled operator services and it would help the Americold as of expansion to get access to port of Savannah for trade.
In December 2017, Americold announced launch of the new facility at New Clearfield, Utah Facility, which would add more space to their warehouses and would help them to expand.
Research Methodology: Asia-Pacific Cold Chain Monitoring Market