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LONDON, GREATER LONDON, UNITED KINGDOM, October 17, 2024 /EINPresswire.com/ -- The cold chain monitoring market has experienced robust growth in recent years, expanding from $5.52 billion in 2023 to $6.44 billion in 2024 at a compound annual growth rate (CAGR) of 16.7%. The growth in the historic period can be attributed to demand for fresh produce, healthcare industry growth, quality and safety assurance, supply chain optimization, logistics industry evolution.
What Is The Estimated Market Size Of The Global Cold Chain Monitoring Market And Its Annual Growth Rate?
The cold chain monitoring global market is projected to continue its strong growth, reaching $11.82 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%. The growth in the forecast period can be attributed to rising global demand, expanding pharmaceutical industry, regulatory stringency, focus on food safety, integration of blockchain, sustainability initiatives. Major trends in the forecast period include pharmaceutical supply chain demands, focus on sustainability.
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Growth Driver Of The Cold Chain Monitoring Market
The growing demand for pharmaceutical products is expected to propel the growth of the market going forward. Pharmaceutical products refer to substances used for the diagnosis, treatment, prevention, or cure of diseases and medical conditions in humans and animals. Cold chain monitoring keeps inside environment colder and unaffected by outside temperature, which helps in the transportation of pharmaceutical products safely.
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Which Market Players Are Steering The Cold Chain Monitoring Market Growth?
Key players in the market include 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.
What Are The Key Trends That Influence Cold Chain Monitoring Market Size?
Technological advancement is a key trend gaining popularity in the market. Major companies operating in the market are introducing advanced technologies to strengthen their market position.
How Is The Global Cold Chain Monitoring Market 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
Geographical Insights: North America Leading The Cold Chain Monitoring Market
North America was the largest region in the cold chain 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 monitoring global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Cold Chain Monitoring Market Definition
Cold chain monitoring refers to the monitoring of temperature-sensitive products in a cold chain with the use of Internet of Things (IoT) technology. The primary goal is to provide a secure and temperature-controlled environment for sensitive and perishable items. It ensures that perishable products are kept at safe and high-quality temperatures until they are consumed.
Cold Chain Monitoring Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global cold chain monitoring market report covering trends, opportunities, strategies, and more
The Cold Chain Monitoring Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on cold chain monitoring market size, cold chain monitoring market drivers and trends, cold chain monitoring market major players, cold chain monitoring competitors' revenues, cold chain monitoring market positioning, and cold chain monitoring market growth across geographies. The cold chain monitoring global market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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