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Cold Chain Temperature Monitoring Market 2024 Trends, Share, Size, Growth Opportunities And Forecast To 2033
Cold Chain Temperature Monitoring Market Trends
Cold Chain Temperature Monitoring Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $16.64 Bn In 2028 At A CAGR Of 17.3%
The cold chain temperature monitoring market size has grown rapidly in recent years. It will grow from $7.52 billion in 2023 to $8.79 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to increased global trade, rising demand for pharmaceutical products, importance of maintaining product quality, growing availability of cold chain logistics, focus on predictive maintenance.
The cold chain temperature monitoring market size is expected to see rapid growth in the next few years. It will grow to $16.64 billion in 2028 at a compound annual growth rate (CAGR) of 17.3%. The growth in the forecast period can be attributed to integration of emerging technologies by key players, expansion and enhancement of product portfolios, adoption of innovative temperature monitoring solutions, increasing demand for cold chain tracking in developing countries, focus on automation and cold storage technologies. Major trends in the forecast period include increased use of sensors and data loggers, expansion of software solutions for cold chain monitoring, emphasis on security and safety in monitoring systems, Preference for on premise software solutions, focus on improving operational effectiveness.
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Cold Chain Temperature Monitoring Market Major Segments
The cold chain temperature monitoring market covered in this report is segmented -
1) By Hardware: Conventional Temperature Loggers, Real Time Monitoring Devices, Resistance Temperature Detectors, Temperature Indicators, Other Hardware
2) By Software: On Premise, Cloud Based
3) By End User: Fish, Meat And Seafood, Processed Food, Pharmaceuticals, Bakery And Confectionaries, Fruits And Vegetables, Dairy Products, Other End Users
Key Driver - E-Commerce Expansion Fuels Demand For Cold Chain Temperature Monitoring Solutions
The expansion of e-commerce is expected to propel the growth of the cold chain temperature monitoring market going forward. E-commerce refers to the buying and selling goods and services over an electronic network, primarily the internet. E-commerce expands due to its convenience, technological advancements, and accelerated adoption during the COVID-19 pandemic, enabling businesses to reach a global market while transforming supply chain logistics. Cold chain temperature monitoring systems provide real-time visibility and control over temperature-sensitive products, enabling e-commerce companies to maintain product quality, meet customer expectations, and demonstrate regulatory compliance. For instance, in November 2023, according to the United States Census Bureau, a US-based government agency, total e-commerce sales in the USA for 2023 were $1,118.7 billion, an increase of 7.6% from 2022. Therefore, the expansion of e-commerce is driving the growth of the cold chain temperature monitoring market.
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Prominent Trend - Technology Solutions Driving Efficiency In Cold Chain Temperature Monitoring
Major companies operating in the cold chain temperature monitoring market are developing innovative temperature trackers, such as CubiSens XT1, to enhance real-time monitoring and ensure the integrity of temperature-sensitive products throughout the supply chain. CubiSens XT1 is a tracker that utilizes various sensor technologies to measure and record temperature conditions at different product transportation and storage stages. For instance, in September 2022, CubeWorks, a US-based technology company, launched CubiSens XT1. CubiSens XT1 aims to provide a comprehensive solution for monitoring and optimizing agricultural processes. It integrates various sensors and technologies to gather data on environmental conditions, crop health, soil moisture, and other relevant factors. The ultimate goal is to help farmers make informed decisions, increase crop yields, optimize resource usage, and improve overall efficiency and sustainability in agriculture.
Cold Chain Temperature Monitoring Market Players
Major companies operating in the cold chain temperature monitoring market are Zebra Technologies Corporation, Cryoport Inc., Cold Chain Technologies, Controlant , Sensitech Inc., OMEGA Engineering inc., Luna, Elitech , MOBIQU, Thermo Electric Company Inc., DeltaTrak Inc, Berlinger & Co. AG, Insignia Technologies , Softbox, CargoSense, PakSense, Elpro-Buchs AG, CubeWorks , Infratab Inc., Kedeon , CWD Limited, ORBCOMM, Roambee Corporation, iMatrix Cloud , AeroSafe Global
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Largest And Fastest Growing Region In The Market
North America was the largest region in the cold chain temperature monitoring market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cold chain temperature monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Cold Chain Temperature Monitoring Market Report Structure
3. Cold Chain Temperature Monitoring Market Trends And Strategies
4. Cold Chain Temperature Monitoring Market - Macro Economic Scenario
5. Cold Chain Temperature Monitoring Market Size And Growth
…..
27. Cold Chain Temperature Monitoring Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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