The latest market intelligence study on the Cold Chain Monitoring market performs an extensive analysis of the competitive landscape and growing investment pocket of the Cold Chain Monitoring market for the forecast period, 2021 – 2028. The tailor-made study probes into the current and future trends of that are likely to shape the development of the Cold Chain Monitoring industry to give the business owners a competitive edge and help them stay ahead of their rivals. The best of both research techniques including qualitative and quantitative are applied to gauge the market size, share, and growth rate.
The global cold chain monitoring market size is expected to reach USD 12.95 Billion in 2028 and register a steady revenue CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to rising demand for temperature-controlled supply chains in food & beverages industries. Increasing demand for cold chain business is driving the need for better monitoring solutions. Absence of monitoring solutions could result in reducing product effectiveness, especially for drugs and pharmaceutical products, or even pose a risk to life. Rising need to ensure safety and quality of products is boosting utilization of cold chain monitoring solutions where products are kept under prescribed temperature requirements.
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Some Key Highlights From the Report
In December 2020, ORBCOMM, which is a global provider of IoT solutions, announced that it is poised to support its transportation customers in the global distribution of COVID-19 vaccine by offering its industry-leading cold chain telematics solutions. The IoT solutions of ORBCOMM offers end-to-end tracking, monitoring, and control of refrigerated trailers, sea containers, and dry vans throughout the supply chain on rail, road, and sea.
Hardware segment accounted for largest revenue share in 2020. Increasing utilization of advanced hardware to increase efficiency of cold chain monitoring systems is expected to continue to drive revenue growth of this segment.
Storage segment revenue is expected to expand at a rapid CAGR during the forecast period. The advent of more sensitive products such as biologics, which require proper packaging with monitoring solutions, has been driving rising demand for cold chain storage facilities with advanced monitoring technologies.
The competitive landscape section of the report talks about the recent advancements in the R&D and technologies undertaken by the prominent players, along with their strategic business expansion plans, product launches, and brand promotions. The report pays special attention to the strategic alliances such as mergers and acquisitions, joint ventures, collaborations, agreements, corporate and government deals, and others adopted by the prominent players of the industry to expand their market presence and gain a substantial market position.
Key market participants include ORBCOMM, Sensitech Inc., Berlinger & Co. AG, Monnit, Controlant, ELPRO-BUCHS AG, Veridify Security, Savi Technology, Zest Labs, Inc., and Infratab, Inc.
The global Cold Chain Monitoring market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Cold Chain Monitoring market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Cold Chain Monitoring market.
Emergen Research has segmented the global cold chain monitoring market on the basis of offering, logistics, application, and region:Offering Outlook (Revenue, USD Billion; 2018–2028) Hardware RFID Devices Networking Devices Sensors & Data Loggers Telematics & Telemetry Devices Software Cloud-based On-premise Logistics Outlook (Revenue, USD Billion; 2018–2028) Transportation Storage Application Outlook (Revenue, USD Billion; 2018–2028) Food & Beverages Pharmaceuticals & Healthcare Chemicals Others
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The research study also offers insights into various regulatory frameworks and evaluates the growth of the industry in each key region of the world. The report also provides an assessment of the micro and macro-economic factors influencing the growth of the market in the mentioned regions. The global Cold Chain Monitoring market is segmented into the following based on the key regions of the world:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The all-inclusive report on the Global Cold Chain Monitoring Market added by Emergen Research demonstrates that the global Cold Chain Monitoring market is presumed to grow at a steady CAGR throughout the forecast timeline. The report analyzed the key market drivers, restraints, growth opportunities, investment opportunities, threats, and limitations of the Cold Chain Monitoring market. The report also offers accurate forecast estimation at a global and regional level to impart a better understanding of the scope of the market.
Summary of the Global Cold Chain Monitoring Report:
Comprehensive analysis of the market including risks and opportunities
Details of business strategies and plans undertaken by key market players
Analysis of current and future trends that will affect the growth of the market in the forecast timeline
In-depth analysis of drivers and constraints for better understanding of the market
The report encompasses a detailed forecast for the years 2021-2028.
The report provides valuable insights on key market growth driving trends and monetary competence in the forecast timeline.
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