Press release
Cold Chain Temperature Monitoring Market Anticipated To Witness Robust Growth, Surpassing $19.5 Billion By 2029
Cold Chain Temperature Monitoring
What Is the Projected Growth of the Cold Chain Temperature Monitoring Market?
In recent times, the market size of temperature monitoring in the cold chain has expanded significantly. With a growth from $8.79 billion in 2024, it is predicted to rise to $10.33 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 17.5%. The surge during the historical period can be traced back to the escalation in global commerce, augmented demand for pharmaceutical commodities, the necessity of upholding product caliber, increase in the supply of cold chain logistics, and an emphasized focus on predictive maintenance.
The market size of cold chain temperature monitoring is set to experience rapid expansion in the coming years, with projections estimating a growth to $19.5 billion by 2029. This predicts a compound annual growth rate (CAGR) of 17.2%. Factors contributing to this growth during the forecast period include the adoption of emerging technologies by leading market players, product portfolio expansion and enhancement, innovative temperature monitoring solution implementation, a rise in demand for cold chain tracking in developing nations, and a concerted focus on automation and cold storage technologies. The forecast period is also expected to see major trends such as the increased utilization of sensors and data loggers, the development of software solutions for the monitoring of cold chains, a heightened emphasis on security and safety within monitoring systems, a preference for on-premise software solutions, and an ongoing focus on boosting operational efficacy.
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What Are the Different Cold Chain Temperature Monitoring Market 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
Subsegments:
1) By Conventional Temperature Loggers: Battery-Powered Temperature Data Loggers, USB Temperature Loggers, Multi-Channel Temperature Loggers, Manual Data Retrieval Temperature Loggers
2) By Real-Time Monitoring Devices: Wireless Temperature Monitoring Systems, Cloud-Based Temperature Monitoring Devices, IoT-Enabled Real-Time Monitoring Devices, GPS-Integrated Real-Time Monitoring Devices, Mobile App-Enabled Real-Time Monitors
3) By Resistance Temperature Detectors (RTDs): Industrial-Grade RTD Sensors, High Precision RTDs for Cold Chain Applications, RTD Probes for Refrigerated Transport, RTD Sensors with Digital Output
4) By Temperature Indicators: Analog and Digital Temperature Indicators, Visual Temperature Display Devices, LCD/LED Temperature Indicators for Cold Storage, Temperature Warning and Alert Indicators
5) By Other Hardware: Thermocouples for Temperature Monitoring, Infrared Temperature Sensors, Data Acquisition Systems for Cold Chain Management, RFID Temperature Tracking Tags, Hybrid Temperature Monitoring Devices
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What Are the Primary Drivers Shaping the Cold Chain Temperature Monitoring Market?
The surge in e-commerce is projected to boost the growth of the cold chain temperature monitoring market in the future. This term refers to the digital trading of goods and services, primarily via the internet. The rapid expansion of e-commerce has been propelled by its convenience, technological advancements, and swift adoption during the COVID-19 pandemic. This expansion has allowed companies to tap into an international market and significantly alter supply chain logistics. Cold chain temperature monitoring systems offer real-time supervision and management of temperature-sensitive goods, allowing e-commerce firms to maintain quality, satisfy customer demands, and show adherence to regulations. For example, as reported by the United States Census Bureau, a governmental institution in the United States, in November 2023, total e-commerce sales in the USA for 2023 reached $1,118.7 billion, marking a 7.6% rise from 2022. As a result, the rise of e-commerce is fueling the growth of the cold chain temperature monitoring market.
Which Companies Are Leading in the Cold Chain Temperature Monitoring Market?
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
What Cold Chain Temperature Monitoring Market Trends Are Gaining Traction Across Different Segments?
Key corporations in the cold chain temperature monitoring market are focusing on the creation of new temperature trackers like CubiSens XT1 to boost real-time tracking and protect the quality of products sensitive to temperature throughout the logistics chain. The CubiSens XT1 is a device that employs multiple sensor technologies to monitor and document temperature levels at various stages of product transportation and storage. For instance, CubeWorks, a technological firm based in the USA, introduced CubiSens XT1 in September 2022. This device aims to offer a holistic solution for the supervision and enhancement of agricultural procedures. It employs various sensors and technologies to collect data on environmental conditions, the well-being of crops, the moisture levels of the soil, and other pertinent factors. The end result is designed to assist farmers in making insightful decisions, boost crop production, optimize resource usage, and augment the overall efficiency and sustainability in the agricultural sector.
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What Are the Top Revenue-Generating Geographies in the Cold Chain Temperature Monitoring Market?
North America was the largest region in the cold chain temperature monitoring market in 2024. 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Cold Chain Temperature Monitoring Market?
2. What is the CAGR expected in the Cold Chain Temperature Monitoring Market?
3. What Are the Key Innovations Transforming the Cold Chain Temperature Monitoring Industry?
4. Which Region Is Leading the Cold Chain Temperature Monitoring Market?
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