Global Cold Chain Monitoring Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware, Software); By Logistics ((Storage (Warehouse, Cold Container), Transportation (Airways, Waterways, Railways, Roadways)); Application; By Region; Segment Forecasts, 2023 - 2032
- Published Date:Jul-2023
- Pages: 112
- Format: PDF
- Report ID: PM2363
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global cold chain monitoring market was valued at USD 5,284.14 million in 2022 and is expected to grow at a CAGR of 17.7% during the forecast period. Cold Chain Monitoring RFID devices, telematics and telemetry devices, sensors and data loggers, and networking devices are some of the hardware components used in cold chain monitoring. RFID devices enable the automatic identification and tracking of products, while telematics and telemetry devices provide real-time data on the location and condition of the products. Sensors and data loggers capture real-time data on temperature, humidity, and other environmental factors, while networking devices enable communication between these devices and the central monitoring system.
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Cold chain monitoring software solutions are available as on-premises or cloud-based applications. These applications enable businesses to monitor and analyze real-time data on temperature and humidity, track the location of products, and ensure compliance with regulations. Warehouse, transportation, and fleet management systems are some software solutions used in cold chain monitoring.
The cold chain monitoring industry has applications in various sectors, including fruits and vegetables, fruit pulp and concentrates, dairy products, fish, meat, seafood, processed food, pharmaceuticals, bakery and confectionaries, and others. These sectors require strict temperature control to maintain the quality and safety of their products. For example, in the pharmaceutical industry, temperature excursions during transportation or storage can lead to the degradation of drugs, resulting in a loss of efficacy.
Advancements in cold chain monitoring technologies have made it easier for businesses to monitor their products in real-time. For instance, IoT sensors can collect and transmit data on various environmental factors to cloud-based software platforms. This allows companies to monitor their products remotely and take corrective actions if necessary.
Geographical status has played a significant role in the growth of the cold chain monitoring market. For example, in India, the government has launched a nationwide program to promote the use of technology for cold chain management. The program aims to improve the quality of food and reduce wastage by promoting the adoption of modern technologies such as temperature-controlled storage facilities and vehicles. Similarly, in the United States, advancements in cold chain monitoring technologies have been driven by the pharmaceutical industry, which has stringent requirements for temperature control.
The advancements in cold chain monitoring technologies have made it possible to maintain the quality and safety of temperature-sensitive products. For instance, in the food and beverage industry, the use of cold chain monitoring technologies has led to a reduction in food spoilage and wastage. In the pharmaceutical industry, these technologies have enabled the safe transportation and storage of drugs, reducing the risk of patient harm.
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Industry Dynamics
Growth Drivers
The growth of the cold chain monitoring industry is primarily driven by increasing demand for temperature-controlled products across various sectors. The healthcare industry is a significant driver, as many medications and vaccines require strict temperature control to maintain efficacy. The increasing demand for fresh and frozen food products is also an important growth driver.
Various hardware and software solutions are available in the market to facilitate cold chain monitoring. The hardware components include sensors, data loggers, and other monitoring devices that can capture real-time data on temperature, humidity, and other environmental factors. The software components enable the tracking and analysis of this data, allowing businesses to monitor the conditions of their products throughout the supply chain.
Storage and transportation are also critical components of the cold chain. Cold storage facilities, refrigerated containers, and specialized vehicles are essential to maintain the required temperature and humidity levels. These facilities and vehicles have temperature control mechanisms to keep the products within the desired range.
Advancements in cold chain monitoring technologies have made it easier for businesses to monitor their products in real-time. For instance, Internet of Things (IoT) sensors can collect data on various environmental factors and transmit it to cloud-based software platforms. This allows businesses to monitor their products remotely and take corrective actions if necessary.
Regional advancements have also played a significant role in developing cold chain monitoring technologies. For example, in India, the government has launched a nationwide program to promote the use of technology for cold chain management. The program aims to improve the quality of food and reduce wastage by promoting the adoption of modern technologies such as temperature-controlled storage facilities and vehicles.
The pharmaceutical industry has driven advancements in cold chain monitoring technologies in the United States. The industry has stringent temperature control requirements, which has led to the development of sophisticated monitoring and tracking systems that can meet these requirements.
Report Segmentation
The market is primarily segmented based on form, component, logistics, application, and region.
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By Component |
By Logistics |
By Application |
By Region |
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The Software (Cloud-Based) Segment is Expected to Witness the Fastest Growth During Forecast Period
The fastest-growing segment in the software category is cloud-based solutions, as more and more companies are adopting cloud-based technologies to streamline their operations and reduce costs. Cloud-based solutions offer greater flexibility, scalability, and accessibility, making them ideal for businesses of all sizes. They also provide real-time data and analytics, enabling companies to make better-informed decisions and improve efficiency.
The Roadways Segment Accounted for the Largest Market Share in 2022
Roadways currently hold the largest share in the transportation segment, as they are the most commonly used mode of transportation for temperature-sensitive products. Road transportation offers greater flexibility and accessibility than other modes, making it ideal for shorter distances and small to medium-sized shipments. However, airways and waterways are also gaining popularity due to their speed and ability to transport larger quantities of products over longer distances.
The Demand in North America is Expected to Witness Significant Growth During the Forecast Period
Cloud chain monitoring has become increasingly important in recent years as supply chains become more complex and globalized in North America. This technology allows businesses to monitor their supply chain operations in real time, providing greater visibility and control over the movement of goods and materials. As a result, cloud chain monitoring has become a critical component of supply chain management, and its adoption is expected to continue to grow in the coming years.
One of the key driving factors behind the growth of cloud chain monitoring is advancements in cloud technology. As cloud platforms become more robust and scalable, businesses can store and process more data in real time, which is essential for effective supply chain monitoring. Additionally, the rise of the Internet of Things (IoT) and other connected devices generates vast amounts of data that can be used to optimize supply chain operations, further driving demand for cloud chain monitoring.
Competitive Insight
Some of the major players operating in the global market include Daikin Industries, Orbcomm, Berlinger & Co., Sensitech, Monnit, Controlant, Savi Technology, Elpro-Buchs, Zest Labs, Securerf Corporation, Infratab, Lineage Logistics Holdings, Klinge Corporation, Temperature Monitor Solutions Africa.
Recent Developments
- In January 2022, Catalent, a clinical supply services provider, has expanded its cold chain packaging capacity at its Philadelphia plant in the US to meet the growing demand for innovative cell and gene therapies and biologic pharmaceuticals.
Global Cold Chain Monitoring Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 5,975.83 million |
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Revenue forecast in 2032 |
USD 25,963.49 million |
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CAGR |
17.7% from 2023 - 2032 |
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Base year |
2022 |
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Historical data |
2019 - 2021 |
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Forecast period |
2023 - 2032 |
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Quantitative units |
Revenue in USD million and CAGR from 2023 to 2032 |
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Segments covered |
By Component, By Logistics, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key companies |
Daikin Industries, Orbcomm, Berlinger & Co., Sensitech, Monnit, Controlant, Savi Technology, Elpro-Buchs, Zest Labs, Securerf Corporation, Infratab, Lineage Logistics Holdings, Klinge Corporation, Temperature Monitor Solutions Africa. |
FAQ's
The Cold Chain Monitoring Market report covering key are Component, Logistics, Application, and region.
Global Cold Chain Monitoring Market Size Worth $ 25,963.49 Million By 2032.
The global cold chain monitoring market expected to grow at a CAGR of 17.7% during the forecast period.
North America is leading the global market.
key driving factors in Cold Chain Monitoring Market are Increasing global demand for temperature-sensitive drugs.
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