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Growing Demand For Pharmaceutical Products Propelling The Cold Chain Monitoring Market: Transformative Forces Shaping the Cold Chain Monitoring Market Landscape in 2025
Cold Chain Monitoring Market Analysis
What Will the Cold Chain Monitoring Industry Market Size Be by 2025?
The scale of the cold chain monitoring market has experienced speedy expansion in recent times. The market, which was worth $6.3 billion in 2024 is projected to increase to $7.28 billion in 2025, showcasing a compound annual growth rate (CAGR) of 15.5%. The expansion witnessed in the past can be linked to the rising demand for fresh produce, the evolution of the healthcare industry, the requirement for quality and safety assurance, enhancements in supply chain and the progression of the logistics industry.
What's the Long-Term Growth Forecast for the Cold Chain Monitoring Market Size Through 2029?
The market size of cold chain monitoring is projected to experience a swift enlargement in the coming years. It's predicted to achieve a scale of $13.99 billion by the year 2029, growing at a compound annual growth rate (CAGR) of 17.8%. This progression during the predicted period can be associated with the increased global need, growth of the pharmaceutical sector, stringent regulations, emphasis on food safety, incorporation of blockchain, and initiatives towards sustainability. Predominant trends during this period are anticipated to be the demands of the pharmaceutical supply chain and focus on sustainability.
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What Are the Key Growth Drivers Fueling the Cold Chain Monitoring Market Expansion?
The anticipated surge in pharmaceutical product demand is projected to boost the cold chain monitoring market's expansion in the future. Pharmaceuticals are substances employed in diagnosing, treating, preventing or curing ailments and health conditions in both humans and animals. Cold chain monitoring maintains a consistently cold environment unaffected by external temperatures, aiding in the secure transportation of pharmaceutical goods. For example, an annual report from the Government of India's Ministry of Chemicals & Fertilizers, Department of Pharmaceuticals showed an increase in India's drug and pharmaceutical exports to $24.62 billion in 2021-22. Thus, the escalating demand for pharmaceutical items is likely to fuel the cold chain monitoring market's growth.
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What Are the Key Trends Driving Cold Chain Monitoring Market Growth?
The rise of technology is a notable trend witnessing growing traction in the cold chain monitoring market. Prime companies in the field are implementing novel technologies to boost their market standing. For instance, Disrupt-X, an IoT development company based in UAE, offering comprehensive IoT platform solutions, launched an IoT-based cold storage monitoring solution in 2022. This solution helps in detecting fluctuations in temperature and humidity in cold storage facilities. The Cold Storage Monitoring Solution from Disrupt-X enables users to monitor temperature and humidity changes right from their workplaces or even using their smartphones. It uses Sigfox / Lora WAN-based devices for transmitting precise humidity and temperature data levels to a cloud platform and mobile app on a regular basis.
How Is the Cold Chain Monitoring Market Segmented?
The cold chain monitoring market covered in this report is segmented -
1) By Temperature Type: Frozen, Chilled
2) By Components: Hardware, Software
3) By Logistics: Storage, Transportation
4) By Applications: Beverages And Foods, Chemicals, Pharmaceuticals, Other Applications
Subsegments:
1) By Frozen: Deep Freezing Monitoring, Freezer Storage Monitoring
2) By Chilled: Refrigerated Transport Monitoring, Cold Storage Monitoring
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Which Companies Are Leading the Charge in Cold Chain Monitoring Market Innovation?
Major companies operating in the cold chain monitoring market are Elpro-Buchs AG, Sensitech Inc., Monnit Corporation, Berlinger & Co. AG, Klinge Corporation, Savi Technology, Zest Labs Inc., Daikin Industries, Lineage Logistics Holdings LLC, Ambetronics Engineers Pvt. Ltd., GND Solutions India Pvt. Ltd., Accent Systems S.L., Trailermatics, Tenova S.p.A, MosChip Technologies Limited, ORBCOMM Inc., Geotab Inc., Controlant, Infratab, Americold Logistics LLC, Hanwell Solutions Limited, Securerf Corporation, Temperature Monitoring Solutions Africa, Honeywell International Inc., Emerson Electric Co., Schneider Electric SE, Rockwell Automation Inc., Mitsubishi Electric Corp., General Electric Co., Huawei Technologies Co. Ltd.
Which Regions Are Leading the Global Cold Chain Monitoring Market in Revenue?
North America was the largest region in the cold chain 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 monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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