Global Cold Chain Monitoring Market, By Component (Hardware, Software), Logistics (Storage, Logistics), Application (Pharmaceutical and Healthcare, Food and Beverage, Chemicals), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Cold Chain Monitoring Market
Data Bridge Market Research analyses the cold chain monitoring market will exhibit a CAGR of 12.64% for the forecast period of 2021-2028 and is expected to reach the USD 11.92 billion by 2028.
Cold chain monitoring is a monitoring solution that is utilized in the supply chain management process. It helps to monitor location, temperature, humidity, and many other factors that can worsen the product's properties. Thus it also helps to maintain the levels of all elements. It helps in reducing the cycle times, lower operating costs and increases product shelf life, productivity and supply chain efficiency. They also make it possible to monitor the inventory and increase its efficiency.
The rise in demand of temperature sensitive drugs globally and growing demand for generic drugs due to higher accessibility will influence the growth of cold chain monitoring market. Furthermore, the rise in the public and private investments for the development of refrigerated warehouses, surge in demand for better quality of food and need to decrease the food wastage, increasing focus of government on issuing policy affecting the supply chain efficiency of rapidly growing pharmaceutical industry will enhance the market growth rate.
Better control of assets in warehouse using automation and cold storage technologies and availability of cold chain logistics in developing nations will create beneficial opportunities for the growth of the market.
However, high cost involved in the implementation and maintaining temperature integrity throughout the supply chain are the factors that will act as restraints for the growth of cold chain monitoring market. Complexities associated with the installation and monitoring of cold chain monitoring solutions will challenge the growth of the market.
This cold chain monitoring market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on cold chain monitoring market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Cold Chain Monitoring Market Scope and Market Size
The cold chain monitoring market is segmented on the basis of component, logistics and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- The cold chain monitoring market on the basis of component is segmented into hardware and software. Hardware has been further sub-segmented into sensors and data loggers, RFID devices, telematics and telemetry devices, and networking devices. Software has been further sub-segmented into on-premise and cloud-based.
- Based on logistics, the cold chain monitoring market is segmented into storage and logistics.
- Based on application, the cold chain monitoring market is segmented into pharmaceutical and healthcare, food and beverage, and chemicals.
Cold Chain Monitoring Market Country Level Analysis
The cold chain monitoring market is segmented on the basis of component, logistics and application.
The countries covered in the cold chain monitoring market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America and Europe dominate the cold chain monitoring market and will continue to flourish its trend of dominance due to the presence of major key players, well-developed healthcare and pharmaceutical industries and growing demand for frozen and chilled foods. Asia-Pacific is expected to grow during the forecast period of 2021-2028 due to the growing demand for processed and canned food items, rapid industrialization, and increasing population.
The country section of the cold chain monitoring market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Cold Chain Monitoring Market Share Analysis
The cold chain monitoring market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Cold chain monitoring market.
The major players covered in the cold chain monitoring market report are Berlinger & Co. AG, Monnit Corporation, Sensitech Inc., ORBCOMM, Veridify Security Inc., Controlant, ELPRO-BUCHS AG, Zest Labs, Inc., Savi Technology, SafeTraces Inc., Infratab Inc., LINEAGE LOGISTICS HOLDINGS LLC, Klinge Corporation, DAIKIN INDUSTRIES Ltd., Nimble Wireless, Tagbox, Verigo, FreshSurety, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.