Press release
Cold Chain Tracking And Monitoring Market Size, Share, Trends Analysis, And Forecast To 2033
Cold Chain Tracking And Monitoring Market Analysis
The Business Research Company offers in-depth market insights through Cold Chain Tracking And Monitoring Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The cold chain tracking and monitoring market size has grown rapidly in recent years. It will grow from $6.24 billion in 2023 to $7.19 billion in 2024 at a compound annual growth rate (CAGR) of 15.1%. The growth in the historic period can be attributed to globalization of supply chains, stringent regulatory standards, rise in demand for perishable goods, focus on food safety.
The cold chain tracking and monitoring market size is expected to see rapid growth in the next few years. It will grow to $12 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%. The growth in the forecast period can be attributed to e-commerce growth in food and pharmaceuticals, increased complexity in supply chains, growing pharmaceutical industry, focus on sustainability and environmental impact, pandemic-driven changes in healthcare logistics. Major trends in the forecast period include environmental sustainability, data security concerns, collaborations and partnerships, real-time visibility and analytics.
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Market Segmentation:
The cold chain tracking and monitoring market covered in this report is segmented -
1) By System: Software, Hardware
2) By Solution: Storage, Transportation
3) By End User: Healthcare, Pharmaceuticals, Food And Beverages, Chemicals, Other End Users
Major Driver - Meeting The Rising Demand For Food And Beverages With Enhanced Supply Chain Processes
The increasing demand for food and beverages is expected to propel the growth of the cold chain tracking and monitoring market going forward. Food and beverages refer to the large group of goods and sectors of the economy involved in manufacturing, processing, supplying, and consuming food and drink. The food and beverage sector can guarantee that products reach customers in a safe, new, and high-quality state using comprehensive cold chain tracking and production processes. For instance, in April 2022, according to a report shared by Common Thread Collective, a US-based e-commerce growth agency, global food and beverage sales increased from $435.3 billion in 2021, to $506 billion in 2022. Further, worldwide food and beverage sales are expected to reach $857 billion by 2025. Therefore, the increasing demand for food and beverages is driving the cold chain tracking and monitoring market.
Competitive Landscape:
Major companies operating in the cold chain tracking and monitoring market report are Carrier Global Corporation, Emerson Electric Co., AmeriCold Logistics LLC, Lineage Logistics LLC, Digi International Inc., ORBCOMM Inc., Cryoport Inc., Controlant AGM, Sensitech Inc., SpotSee Holdings LLC, ELPRO-BUCHS AG, Berlinger & Co AG, Hanwell Solutions Ltd., Tippmann Group, Cryopak Industries Inc., Savi Technology Inc., Rotronic AG, Maven Systems Pvt. Ltd., Klinge Corporation, Monnit Corporation, LogTag Recorders Ltd., Testo SE & Co. KGaA, Verigo, SecureRF Corporation, BT9 Ltd., Zest Labs Inc., Blulog, Gemini Data Loggers UK Ltd., Intelleflex Corporation, Infratab Inc.
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Top Trend - Real-Time Cold Chain Monitoring System Revolutionizes Supply Chain Visibility
Technology innovations are a key trend gaining popularity in the cold chain tracking and monitoring market. Major companies operating in the cold chain tracking and monitoring market are adopting new technologies to sustain their position in the market. For instance, in May 2023, Tridentify, a Sweden-based MedTech company, launched a real-time cold chain monitoring system. The new technology offers a thorough picture of pharmaceutical items' stability and remaining shelf life in real-time. Tridentify has transformed the industry with the debut of this new monitoring system, allowing businesses to monitor their operations and the stability of their shipments in real-time. The new solution delivers an accurate and real-time assessment of a consignment, allowing businesses to make data-driven decisions. It is uniquely designed with state-of-the-art technology, including advanced sensors and machine-learning algorithms that help monitor systems.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Cold Chain Tracking And Monitoring Market Characteristics
3. Cold Chain Tracking And Monitoring Market Trends And Strategies
4. Cold Chain Tracking And Monitoring Market - Macro Economic Scenario
5. Cold Chain Tracking And Monitoring Market Size And Growth
…..
27. Cold Chain Tracking And Monitoring Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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