Cold Chain Monitoring Market 2021 | In-Depth Analysis Of Industry Share, Size, Growth and Regional Outlook

Rising demand for temperature-controlled supply chain in food & beverage industries and rising need to reduce food wastage globally are key factors driving market revenue growth             

The global cold chain monitoring market size is expected to reach USD 12.95 Billion in 2028 and register a steady revenue CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to rising demand for temperature-controlled supply chains in food & beverages industries.

Increasing demand for cold chain business is driving the need for better monitoring solutions. Absence of monitoring solutions could result in reducing product effectiveness, especially for drugs and pharmaceutical products, or even pose a risk to life.

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Rising concerns regarding food security, safety, and integrity is resulting in rising focus and on improvement of inefficiencies in the cold chain. These factors are driving growth of the cold chain monitoring market to a significant extent. Changing dietary habits of consumers and improving living standards are resulting in shifting preference towards processed and packaged foods and products.

The global Cold Chain Monitoring market is anticipated to deliver a steady CAGR of 12.3% over the next 8 years to reach a valuation of USD 12.95 Billion in 2028 from USD 5.14 Billion in 2020, according to the extensive analysis carried out by our analysts.

The leading companies of the Cold Chain Monitoring industry are expected to grow at a significant rate as increasing demand for the products of the Cold Chain Monitoring industry is being observed.

The report also analyses key elements such as growth trends, concentration area, business expansion strategies, market reach, and other key features that offer companies insightful data to fortify their position in the Cold Chain Monitoring industry.

Top Key Participants Of the Cold Chain Monitoring Industry Research By Emerge Research: ORBCOMM, Sensitech Inc., Berlinger & Co. AG, Monnit, Controlant, ELPRO-BUCHS AG, Veridify Security, Savi Technology, Zest Labs, Inc., and Infratab, Inc.

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Some Key Highlights From the Report:

Hardware segment accounted for largest revenue share in 2020. Increasing utilization of advanced hardware to increase efficiency of cold chain monitoring systems is expected to continue to drive revenue growth of this segment.

Storage segment revenue is expected to expand at a rapid CAGR during the forecast period. The advent of more sensitive products such as biologics, which require proper packaging with monitoring solutions, has been driving rising demand for cold chain storage facilities with advanced monitoring technologies.

Food & beverages segment accounted for a significantly large revenue share in the cold chain monitoring market in 2020. Changing diet and improving living standards of consumers has resulted in shift in preference towards quality processed foods and products, which has increased utilization of cold chain monitoring solutions in food & beverage industries as processed foods require sensitive and accurate temperature-controlled storage facilities.

Asia Pacific accounted for largest revenue share contribution to the global cold chain monitoring market in 2020. Increasing initiatives by governments to reduce public health risks caused by consumption of ineffective pharmaceuticals is driving demand for and deployment of more effective remote motoring solutions.

Major Geographies Analyzed in the Cold Chain Monitoring Market Report:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

The pandemic has significantly affected the lives and markets worldwide and has caused disruptions in the business sphere. The report encompasses the effects of the coronavirus pandemic on the Cold Chain Monitoring market along with impacts on the key segments of the industry. The report also offers an idea of the current scenario along with an impact assessment for the coming years.

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Emergen Research has segmented the global cold chain monitoring market on the basis of offering, logistics, application, and region:

Offering Outlook (Revenue, USD Billion; 2018–2028)
Hardware
RFID Devices
Networking Devices
Sensors & Data Loggers
Telematics & Telemetry Devices
Software
Cloud-based
On-premise
Logistics Outlook (Revenue, USD Billion; 2018–2028)
Transportation
Storage    
Application Outlook (Revenue, USD Billion; 2018–2028)
Food & Beverages
Pharmaceuticals & Healthcare
Chemicals
Others           

The report considers the following timeline for market estimation:

Historical Years: 2017-2018

Base Year: 2019

Estimated Year: 2027

Forecast Years: 2020-2027

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Key Question You Are Ask For??

Which segment is expected to garner traction during the coming years?
What are the key strategies adopted by the players in the market?
What are the technological developments and product advancements occurring in the market?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?

Conclusion Of the Report:

To conclude everything stated above, the report offers a panoramic view of the Cold Chain Monitoring market in both the global and regional markets, supported by key statistical data and industry-verified facts. It offers a thorough examination of the size, share, and market volume of the Cold Chain Monitoring industry to forecast the same evaluations until 2027. It also studies and analyzes the different growth prospects and opportunities, along with threats that the players might face in the Global Cold Chain Monitoring Market.

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