Cold Chain Tracking And Monitoring Market is projected to surpass US$11.242 billion by 2028 at a CAGR of 10.04%

NOIDA, UTTAR PARDESH, INDIA, December 8, 2023 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the cold chain tracking and monitoring market is projected to grow at a CAGR of 10.04% between 2021 and 2028 to reach US$11.242 billion by 2028.

The prime factors propelling the cold chain tracking and monitoring market growth are increasing demand for temperature-sensitive products, rising complexity of the cold chain, stricter regulations, technological advancements, and growing awareness of the benefits of cold chain tracking and monitoring.

Cold chain tracking and monitoring is a critical process for maintaining the quality and safety of temperature-sensitive products, such as food, pharmaceuticals, and chemicals. It involves using sensors, devices, and software to track the temperature of products throughout the supply chain, from production to consumption. This data can be used to identify and address potential problems, such as temperature excursions before they can damage the products. As technology continues to advance, we can expect to see even more innovative cold chain tracking and monitoring solutions emerge in the years to come. These solutions will help to further improve the quality and safety of temperature-sensitive products and reduce the risk of foodborne illness, product recalls, and environmental damage.

The industry is undergoing a transformative shift characterized by unprecedented levels of collaboration and innovation. In March 2022, M2Cloud, a pioneer in bio-cold chain technology solutions, collaborated with Thales, a global leader in IoT communication modules, to unveil an innovative IoT-based LTE monitoring system specifically tailored for biopharmaceutical applications. This groundbreaking system promises to revolutionize the biopharmaceutical industry by providing real-time visibility into the temperature and location of sensitive biopharmaceuticals throughout the entire supply chain.

Access sample report or view details: https://www.knowledge-sourcing.com/report/cold-chain-tracking-and-monitoring-market

Based on the system, the cold chain tracking and monitoring market is divided into hardware (RFID devices, telematics, and telemetry devices, sensors and data loggers, and networking devices) and software (on-premises and cloud-based). The hardware segment is expected to have a higher growth rate than the software segment over the forecast period. The increasing complexity of the cold chain is driving the need for more sophisticated hardware solutions. The falling cost of hardware is making it more affordable for companies to adopt cold chain tracking and monitoring solutions. The growing adoption of the Internet of Things (IoT) is creating new opportunities for hardware-based cold chain tracking and monitoring solutions.

Based on the logistics, the cold chain tracking and monitoring market is divided into storage and transport. The transport segment of the cold chain tracking and monitoring market is expected to experience higher growth compared to the storage segment. This is primarily due to the increasing complexity and length of cold chains, particularly for temperature-sensitive products like pharmaceuticals and food items. Global trade and supply chains are expanding, leading to longer and more intricate transportation routes for temperature-sensitive products. This increases the need for real-time monitoring and tracking to ensure product integrity.

Based on the end-user, the cold chain tracking and monitoring market is divided into healthcare, pharmaceuticals, food and beverage, chemicals, and others. The food and beverage segment is expected to have the highest growth rate in the cold chain tracking and monitoring market. Consumers are increasingly demanding fresh and minimally processed foods, which are more susceptible to spoilage than processed foods. This is driving the need for better cold chain tracking and monitoring to ensure that these products are kept at the correct temperature throughout the supply chain.

Based on geography, Asia Pacific is poised to dominate the cold chain tracking and monitoring market. This is leading to a growing demand for food, pharmaceuticals, and other temperature-sensitive products. As disposable incomes rise, consumers are demanding higher-quality products, which is putting increasing pressure on the cold chain to ensure that these products are transported and stored at the correct temperature. The cold chain infrastructure in many parts of Asia Pacific is underdeveloped. This is leading to significant losses of food and other temperature-sensitive products. Cold chain tracking and monitoring solutions can help to identify and address weaknesses in the cold chain infrastructure.

As a part of the report, the major players operating in the cold chain tracking and monitoring market, that have been covered are Daikin Industries, Orbcomm, Berlinger & Co., Sensitech, Monnit, Controlant, Savi Technology, Elpro-Buchs, Zest Labs, Infratab, Lineage Logistics Holdings, Klinge Corporation.

The market analytics report segments the cold chain tracking and monitoring market on the following basis:

• BY SYSTEM

o Hardware

• RFID Devices
• Telematics and Telemetry Devices
• Sensors And Data Loggers
• Networking Devices

o Software

• On-premises
• Cloud-based

• BY LOGISTICS

o Storage
o Transport

• BY END-USER

o Healthcare
o Pharmaceuticals
o Food and Beverage
o Chemical
o Others

• BY GEOGRAPHY

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Israel
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Thailand
• Indonesia
• Taiwan
• Others

Companies Profiled:

• Daikin Industries
• Orbcomm
• Berlinger & Co.
• Sensitech
• Monnit
• Control
• Savi Technology
• Elpro-Buchs
• Zest Labs
• Infratab
• Lineage Logistics Holdings
• Klinge Corporation

Explore More Reports:

• Global RFID Market: https://www.knowledge-sourcing.com/report/global-rfid-market

• Network Virtualization Market: https://www.knowledge-sourcing.com/report/network-virtualisation-market

• Global Cold Chain Equipment Market: https://www.knowledge-sourcing.com/report/global-cold-chain-equipment-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn